Offsetting Assets and Liabilities

9 Months Ended

Sep. 30, 2020

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 September 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)
September 30, 2020:
Securities borrowed	$	13,303	$	—	$	13,303	$	(11,567)	$	—	$	1,736
Derivatives	$	26,670	$	—	$	26,670	$	—	$	(980)	$	25,690
Long exchange-traded options	$	12,153	$	—	$	12,153	$	—	$	—	$	12,153
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 September 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)
September 30, 2020:
Securities loaned	$	15,150	$	—	$	15,150	$	—	$	(14,254)	$	896
Derivatives	$	28,230	$	—	$	28,230	$	—	$	(3,553)	$	24,677
Short exchange-traded options	$	11,091	$	—	$	11,091	$	—	$	—	$	11,091
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.