Offsetting Assets and Liabilities

6 Months Ended

Jun. 30, 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 June 30, 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)
June 30, 2020:
Securities borrowed	$	18,109	$	—	$	18,109	$	(17,539	)	$	—		$	570
Derivatives	$	24,224	$	—	$	24,224	$	—		$	(810	)	$	23,414
Long exchange-traded options	$	12,151	$	—	$	12,151	$	—		$	—		$	12,151
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 June 30, 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)
June 30, 2020:
Securities loaned	$	16,369	$	—	$	16,369	$	(16,155	)	$	—		$	214
Derivatives	$	26,626	$	—	$	26,626	$	—		$	(5,884	)	$	20,742
Short exchange-traded options	$	9,379	$	—	$	9,379	$	—		$	—		$	9,379
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.