Offsetting Assets and Liabilities

12 Months Ended

Dec. 31, 2016

Offsetting [Abstract]

Offsetting Assets and Liabilities

Offsetting Assets and Liabilities

Offsetting of assets as of December 31, 2016 and 2015 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		Collateral Received			Net Amount
	(in thousands)
December 31, 2016
Securities borrowed	$	82,814	$	—	$	82,814	$	—	$	(82,814	)	$	—
Derivatives	$	8,413	$	—	$	8,413	$	—	$	(810	)	$	7,603
Derivatives held by consolidated VIEs	$	4,997	$	—	$	4,997	$	—	$	(461	)	$	4,536
Long exchange-traded options	$	3,106	$	—	$	3,106	$	—	$	—		$	3,106
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

Offsetting of liabilities as of December 31, 2016 and 2015 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		Collateral Pledged			Net Amount
	(in thousands)
December 31, 2016
Securities loaned	$	—	$	—	$	—	$	—	$	—		$	—
Derivatives	$	8,649	$	—	$	8,649	$	—	$	(6,239	)	$	2,410
Derivatives held by consolidated VIEs	$	2,081	$	—	$	2,081	$	—	$	(2,081	)	$	—
Short exchange-traded options	$	692	$	—	$	692	$	—	$	—		$	692
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

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