XML 25 R21.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of market value of investments

The following table summarizes the carrying value of investments as of December 31, 2019 and 2018:

	As of December 31,
	2019				2018
Fair value investments:
Securities held in Consolidated Funds(a)	$	36,248,360			$	153,730,480
Company sponsored investments	42,039,044				33,418,088
Company sponsored equity method investments	61,149,774				16,339,649
Total Investments	$	139,437,178			$	203,488,217

(a) Of the securities held in the Consolidated Funds as of December 31, 2019, $21.1 million were held directly by the Company and $15.1 million were held by noncontrolling shareholders. Of the securities held in the Consolidated Funds as of December 31, 2018, $84.7 million were held directly by the Company and $69.0 million were held by noncontrolling shareholders.

Investment Income

The components of net investment income (loss) are as follows:

	For the Year Ended December 31,
	2019				2018				2017
Realized gains	$	9,056,152			$	2,143,695			$	2,497,707
Unrealized gains (losses)	15,086,747				(16,067,048		)		8,077,335
Dividends	5,350,146				2,814,026				2,248,185
Interest	987,240				4,857,261				1,195,995
Other investment income (loss)	27,090				(20,612		)		(1,629		)
Investment income (loss), net	$	30,507,375			$	(6,272,678	)		$	14,017,593

Equity Method Investments

The following table includes the condensed summary financial information from the Company’s equity method investments as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017:

					As of December 31,
					2019				2018
Total assets					$	237,073,628			$	80,845,124
Total liabilities					38,453,935				22,287,437
Net assets					198,619,693				58,557,687
DHCM’s portion of net assets					61,149,774				16,339,649
	For the Year Ended December 31,
	2019				2018				2017
Investment income	$	5,346,588			$	1,154,007			$	2,944,836
Expenses	1,551,291				978,322				1,176,896
Net realized gains	6,390,727				1,918,661				4,432,850
Net change in unrealized appreciation (depreciation)	14,805,837				(10,229,319		)		5,613,627
Net income (loss)	24,991,861				(8,134,973		)		11,814,417
DHCM’s portion of net income (loss)	8,301,571				(2,400,467		)		3,206,702

X

- Definition

Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Name:	us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.9)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.2)
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.7(a),(b))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

+ Details

Name:	us-gaap_InvestmentIncomeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the summary of investment holdings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

+ Details

Name:	us-gaap_SummaryInvestmentHoldingsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration