Offsetting Assets and Liabilities

See Note 14, Consolidated Company-Sponsored Investment Funds, for disclosure of offsetting assets and liabilities of our consolidated company-sponsored investment funds.

Offsetting of assets as of March 31, 2019 and December 31, 2018 was as follows:



	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Assets Presented in the Statement of Financial Condition		Financial Instruments			Cash Collateral Received			Net Amount
	(in thousands)
March 31, 2019:
Securities borrowed	$	55,031	$	—	$	55,031	$	(54,249	)	$	—		$	782
Derivatives	$	10,054	$	—	$	10,054	$	—		$	(1,141	)	$	8,913
Long exchange-traded options	$	3,046	$	—	$	3,046	$	—		$	—		$	3,046
December 31, 2018:
Securities borrowed	$	64,856	$	—	$	64,856	$	(64,217	)	$	—		$	639
Derivatives	$	17,079	$	—	$	17,079	$	—		$	(4,831	)	$	12,248
Long exchange-traded options	$	2,568	$	—	$	2,568	$	—		$	—		$	2,568

Offsetting of liabilities as of March 31, 2019 and December 31, 2018 was as follows:



	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Condition		Net Amounts of Liabilities Presented in the Statement of Financial Condition		Financial Instruments			Cash Collateral Pledged			Net Amount
	(in thousands)
March 31, 2019:
Securities loaned	$	—	$	—	$	—	$	—		$	—		$	—
Derivatives	$	14,390	$	—	$	14,390	$	—		$	(3,655	)	$	10,735
Short exchange-traded options	$	2,878	$	—	$	2,878	$	—		$	—		$	2,878
December 31, 2018:
Securities loaned	$	59,526	$	—	$	59,526	$	(59,526	)	$	—		$	—
Derivatives	$	14,822	$	—	$	14,822	$	—		$	(4,458	)	$	10,364
Short exchange-traded options	$	3,782	$	—	$	3,782	$	—		$	—		$	3,782

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