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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The Company’s assets and liabilities measured at fair value on a recurring basis, excluding the assets and liabilities of CIP discussed in Note 16, as of June 30, 2021 and December 31, 2020 by fair value hierarchy level were as follows: June 30, 2021
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash equivalents | $ | 208,764 |  |  | $ | — |  |  | $ | — |  |  | $ | 208,764 |
Investment securities - fair value |  |  |  |  |  |  |
Sponsored funds | 40,791 |  |  | — |  |  | — |  |  | 40,791 |
Equity securities | 13,642 |  |  | — |  |  | — |  |  | 13,642 |
Debt securities | — |  |  | 15 |  |  | — |  |  | 15 |
Nonqualified retirement plan assets | 12,132 |  |  | — |  |  | — |  |  | 12,132 |
Total assets measured at fair value | $ | 275,329 |  |  | $ | 15 |  |  | $ | — |  |  | $ | 275,344 |
December 31, 2020
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash equivalents | $ | 207,101 |  |  | $ | — |  |  | $ | — |  |  | $ | 207,101 |
Investment securities - fair value |  |  |  |  |  |  |
Sponsored funds | 25,909 |  |  | — |  |  | — |  |  | 25,909 |
Equity securities | 14,078 |  |  | — |  |  | — |  |  | 14,078 |
Debt securities | — |  |  | 3 |  |  | — |  |  | 3 |
Nonqualified retirement plan assets | 10,612 |  |  | — |  |  | — |  |  | 10,612 |
Total assets measured at fair value | $ | 257,700 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 257,703 |
The assets and liabilities of CIP measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020 by fair value hierarchy level were as follows: As of June 30, 2021
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash equivalents | $ | 121,934 |  |  | $ | — |  |  | $ | — |  |  | $ | 121,934 |
Debt investments | 1,281 |  |  | 2,194,503 |  |  | 50,186 |  |  | 2,245,970 |
Equity investments | 21,907 |  |  | 2,071 |  |  | 1,895 |  |  | 25,873 |
Total assets measured at fair value | $ | 145,122 |  |  | $ | 2,196,574 |  |  | $ | 52,081 |  |  | $ | 2,393,777 |
Liabilities |  |  |  |  |  |  |
Notes payable | $ | — |  |  | $ | 2,132,012 |  |  | $ | — |  |  | $ | 2,132,012 |
Short sales | 531 |  |  | — |  |  | — |  |  | 531 |
Total liabilities measured at fair value | $ | 531 |  |  | $ | 2,132,012 |  |  | $ | — |  |  | $ | 2,132,543 |
As of December 31, 2020
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash equivalents | $ | 82,295 |  |  | $ | — |  |  | $ | — |  |  | $ | 82,295 |
Debt investments | 16,859 |  |  | 2,219,199 |  |  | 53,368 |  |  | 2,289,426 |
Equity investments | 38,468 |  |  | 3,856 |  |  | 814 |  |  | 43,138 |
Derivatives | 858 |  |  | 1,227 |  |  | — |  |  | 2,085 |
Total assets measured at fair value | $ | 138,480 |  |  | $ | 2,224,282 |  |  | $ | 54,182 |  |  | $ | 2,416,944 |
Liabilities |  |  |  |  |  |  |
Notes payable | $ | — |  |  | $ | 2,190,445 |  |  | $ | — |  |  | $ | 2,190,445 |
Derivatives | 714 |  |  | 757 |  |  | — |  |  | 1,471 |
Short sales | 520 |  |  | — |  |  | — |  |  | 520 |
Total liabilities measured at fair value | $ | 1,234 |  |  | $ | 2,191,202 |  |  | $ | — |  |  | $ | 2,192,436 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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