Related Party Transactions

9 Months Ended

Sep. 30, 2011

Related Party Transactions

Related Party Transactions

13.   Related Party Transactions

        The Company periodically records amounts receivable and payable to Affiliate partners in connection with the transfer of Affiliate equity interests. The Company also has liabilities to related parties for deferred purchase price and contingent payment obligations in connection with certain business combinations.

        The total receivable at December 31, 2010 was $42.9 million, which is included in "Other assets." The total receivable at September 30, 2011 was $48.6 million, of which $3.1 million is included in "Prepaid expenses and other current assets" and $45.5 million is included in "Other assets." The total payable at December 31, 2010 was $183.0 million, of which $114.8 million is included in "Payables to related party" and $68.2 million is included in "Other long-term liabilities." The total payable at September 30, 2011 was $72.5 million, of which $12.9 million is included in "Payables to related party" and $59.6 million is included in "Other long-term liabilities."

        In certain cases, Affiliate management owners and Company officers may serve as trustees or directors of certain mutual funds from which the Affiliate earns advisory fee revenue.