XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Other Assets | 9 Months Ended
--- | ---
Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets | Other Assets Other assets consist of the following as of December 31, 2019 and September 30, 2020 (in thousands):
| December 31, 2019 |  | September 30, 2020
Prepaid expenses, net of current portion | $ | 191 |  |  | $ | 26,118 |
Equity method investments | 15,795 |  |  | 16,734 |
Other investments | 2,123 |  |  | 2,527 |
Other | 3,679 |  |  | 4,990 |
Other assets | $ | 21,788 |  |  | $ | 50,369 |
Prepaid Expenses Long-term prepaid expenses primarily relate to payments that have been made for future services to be provided after one year. In the fourth quarter of 2020, pursuant to the terms of the perpetual license agreement associated with the Jack Welch Management Institute ("JWMI"), the Company will make a final one-time cash payment of approximately $25.3 million for the right to continue to use the Jack Welch name and likeness. As of September 30, 2020, $21.0 million of this payment is included in the prepaid expenses, net of current portion balance, as the payment will be amortized over an estimated useful life of 15 years. The prepaid balance was partially offset by a $2.8 million liability balance that represented a seller's continuing interest in JWMI that will terminate following this payment. The payment is expected to be made in December 2020 and is included in accounts payable and accrued expenses on the unaudited condensed consolidated balance sheet as of September 30, 2020. Equity Method Investments The Company holds investments in certain limited partnerships that invest in various innovative companies in the health care and education-related technology fields. The Company has commitments to invest up to an additional $2.0 million across these partnerships through 2027. The Company's investments range from 3%-5% of any partnership’s interest and are accounted for under the equity method. The following table illustrates changes in the Company’s limited partnership investments for the three and nine months ended September 30, 2019 and 2020 (in thousands):
| For the three months ended September 30, |  | For the nine months ended September 30,
| 2019 |  | 2020 |  | 2019 |  | 2020
Limited partnership investments, beginning of period | $ | 14,490 |  |  | $ | 16,990 |  |  | $ | 13,449 |  |  | $ | 15,795 |
Capital contributions | 366 |  |  | 75 |  |  | 878 |  |  | 368 |
Pro-rata share in the net income of limited partnerships | 706 |  |  | 370 |  |  | 2,260 |  |  | 1,612 |
Distributions | — |  |  | (701) |  |  | (1,025) |  |  | (1,041) |
Limited partnership investments, end of period | $ | 15,562 |  |  | $ | 16,734 |  |  | $ | 15,562 |  |  | $ | 16,734 |
Other Investments The Company's venture fund, SEI Ventures, makes investments in education tech start-ups focused on transformational technologies that improve student success. These investments are accounted for at cost less impairment as they do not have readily determinable fair value.

X
- References No definition available. + Details
Name: | us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_OtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration