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Investments, Carried at Cost (Tables)

12 Months Ended

Dec. 31, 2018

Investment [Line Items]

Investments, Carried at Cost

The following table sets forth the Company’s investments, carried at cost:

		December 31, 2018				December 31, 2017
AdvisorEngine—Preferred stock		$	25,000			$	25,000
AdvisorEngine—Option			—				3,278
Thesys.			3,080				6,909
Total		$	28,080			$	35,187

Summary of Ranges and Weighted Averages of Significant Unobservable Inputs Used to Determine Enterprise Value

The table below presents the ranges and weighted averages of significant unobservable inputs used in these approaches to determine the enterprise value of Thesys at December 31, 2018 and June 20, 2017:

		Range (Weighted Average)
		December 31, 2018				June 20, 2017
Market Approach(1)
Revenue multiple			n/a				0.9x
Income Approach(1)
Weighted average cost of capital (“WACC”)			3.8% – 15.5% (14.1%)				11.5% – 14.5% (12.6%)

(1) The approach and inputs selected varied, based upon the Thesys business line being valued.

Advisor Engine [Member]

Investment [Line Items]

Summary of Ranges and Weighted Averages of Significant Unobservable Inputs Used to Determine Enterprise Value

The table below presents the ranges and weighted averages of significant unobservable inputs used in the quantitative assessments at December 31, 2018 and December 29, 2017:

		Range (Weighted Average)
		December 31, 2018				December 29, 2017
Market Approach
Revenue multiple			4.7x – 5.4x (5.0x)				n/a
Income Approach
Weighted average cost of capital (“WACC”)			26.0%				27.0%

X

- Definition

Line items represent reporting concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 12
-Section 12
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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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