Offsetting Assets and Liabilities

3 Months Ended

Mar. 31, 2020

Offsetting [Abstract]

Offsetting Assets and Liabilities

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, 2020 and December 31, 2019 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, 2020:
Securities borrowed	$	45,470	$	—	$	45,470	$	(37,959	)	$	—		$	7,511
Derivatives	$	32,566	$	—	$	32,566	$	—		$	(8,479	)	$	24,087
Long exchange-traded options	$	36,783	$	—	$	36,783	$	—		$	—		$	36,783
December 31, 2019:
Securities borrowed	$	38,993	$	—	$	38,993	$	(38,993	)	$	—		$	—
Derivatives	$	13,491	$	—	$	13,491	$	—		$	(251	)	$	13,240
Long exchange-traded options	$	6,931	$	—	$	6,931	$	—		$	—		$	6,931

Offsetting of liabilities as of March 31, 2020 and December 31, 2019 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, 2020:
Derivatives	$	40,056	$	—	$	40,056	$	—	$	(9,644	)	$	30,412
Short exchange-traded options	$	15,884	$	—	$	15,884	$	—	$	—		$	15,884
December 31, 2019:
Derivatives	$	19,259	$	—	$	19,259	$	—	$	(4,276	)	$	14,983
Short exchange-traded options	$	12,348	$	—	$	12,348	$	—	$	—		$	12,348

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