Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

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 as of September 30, 2020 and December 31, 2019 and is calculated based on Level 2 inputs:

			September 30,		December 31,
	Balance sheet		2020		2019
	location	Fair value		Fair value
		(in thousands)
Total return swap contracts	Prepaid expenses and other current assets	$	2,017		—
Total return swap contracts	Other current liabilities		—		3,990
Net total return swap asset (liability)		$	2,017		(3,990)

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

The following is a summary of net (losses) gains recognized in income for the three and nine months ended September 30, 2020 and September 30, 2019:

		Three months ended			Nine months ended
	Income statement	September 30,			September 30,
	location		2020	2019		2020	2019
		(in thousands)			(in thousands)
Total return swap contracts	Investment and other income	$	(14,191)	135	$	(2,571)	(25,728)