Offsetting Assets and Liabilities

9 Months Ended

Sep. 30, 2021

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, 2021 and December 31, 2020 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 Collateral		Cash Collateral Received		Net Amount
	(in thousands)
September 30, 2021:
Securities borrowed	$	15,384	$	—	$	15,384	$	(14,161)	$	—	$	1,223
Derivatives	$	18,159	$	—	$	18,159	$	—	$	(2,712)	$	15,447
Long exchange-traded options	$	1,569	$	—	$	1,569	$	—	$	—	$	1,569
December 31, 2020:
Securities borrowed	$	7,808	$	—	$	7,808	$	(7,344)	$	—	$	464
Derivatives	$	21,741	$	—	$	21,741	$	—	$	(380)	$	21,361
Long exchange-traded options	$	7,527	$	—	$	7,527	$	—	$	—	$	7,527

Offsetting of liabilities as of September 30, 2021 and December 31, 2020 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 Collateral		Cash Collateral Pledged		Net Amount
	(in thousands)
September 30, 2021:

Derivatives	$	15,276	$	—	$	15,276	$	—	$	(3,354)	$	11,922
Short exchange-traded options	$	701	$	—	$	701	$	—	$	—	$	701
December 31, 2020:

Derivatives	$	30,537	$	—	$	30,537	$	—	$	(6,374)	$	24,163
Short exchange-traded options	$	12,486	$	—	$	12,486	$	—	$	—	$	12,486

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