Offsetting Assets and Liabilities

12 Months Ended

Dec. 31, 2015

Offsetting [Abstract]

Offsetting Assets and Liabilities

Offsetting Assets and Liabilities

Offsetting of assets as of December 31, 2015 and 2014 was as follows:

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received			Net Amount
	(in thousands)
December 31, 2015
Securities borrowed	$	75,274	$	—	$	75,274	$	—	$	(75,274	)	$	—
Derivatives	$	12,588	$	—	$	12,588	$	—	$	(1,518	)	$	11,070
Long exchange-traded options	$	5,910	$	—	$	5,910	$	—	$	—		$	5,910
December 31, 2014
Securities borrowed	$	158,147	$	—	$	158,147	$	—	$	(158,147	)	$	—
Derivatives	$	6,787	$	—	$	6,787	$	—	$	(990	)	$	5,797
Long exchange-traded options	$	22,290	$	—	$	22,290	$	—	$	—		$	22,290

Offsetting of liabilities as of December 31, 2015 and 2014 was as follows:

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Pledged			Net Amount
	(in thousands)
December 31, 2015
Securities loaned	$	9,518	$	—	$	9,518	$	—	$	(9,518	)	$	—
Derivatives	$	12,221	$	—	$	12,221	$	—	$	(12,221	)	$	—
Short exchange-traded options	$	843	$	—	$	843	$	—	$	—		$	843
December 31, 2014
Securities loaned	$	33,645	$	—	$	33,645	$	—	$	(33,645	)	$	—
Derivatives	$	9,392	$	—	$	9,392	$	—	$	(9,392	)	$	—
Short exchange-traded options	$	7,118	$	—	$	7,118	$	—	$	—		$	7,118

Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.