Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Financial Instruments

Schedule of fair value of derivative financial instruments, excluding derivative financial instruments held in certain consolidated sponsored funds

The following table presents the fair value of the derivative financial instruments, excluding derivative financial instruments held in certain consolidated sponsored funds, as of September 30, 2019 and December 31, 2018 and is calculated based on Level 2 inputs:

			September 30,		December 31,
	Balance sheet		2019		2018
	location	Fair value		Fair value
		(in thousands)
Total return swap contracts	Prepaid expenses and other current assets	$	153		4,968
Total return swap contracts	Other current liabilities		467		—
Net total return swap (liability) asset		$	(314)		4,968

Schedule of net gains (losses) recognized in income of derivative financial instrument

The following is a summary of net gains (losses) recognized in income for the three and nine months ended September 30, 2019 and September 30, 2018:

		Three months ended			Nine months ended
	Income statement	September 30,			September 30,
	location		2019	2018		2019	2018
		(in thousands)			(in thousands)
Total return swap contracts	Investment and other income	$	135	(6,769)	$	(25,728)	(7,313)