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 March 31, 2024 and December 31, 2023 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) | March 31, 2024: | | | | | | | | | | | | Securities borrowed | $ | 14,719 | | | $ | — | | | $ | 14,719 | | | $ | (14,719) | | | $ | — | | | $ | — | | Derivatives | $ | 13,857 | | | $ | — | | | $ | 13,857 | | | $ | — | | | $ | (7,665) | | | $ | 6,192 | | | | | | | | | | | | | | December 31, 2023: | | | | | | | | | | | | Securities borrowed | $ | 23,229 | | | $ | — | | | $ | 23,229 | | | $ | (23,229) | | | $ | — | | | $ | — | | Derivatives | $ | 14,518 | | | $ | — | | | $ | 14,518 | | | $ | — | | | $ | (5,691) | | | $ | 8,827 | | | | | | | | | | | | | |
Offsetting of liabilities as of March 31, 2024 and December 31, 2023 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) | March 31, 2024: | | | | | | | | | | | | Securities loaned | $ | 65,860 | | | $ | — | | | $ | 65,860 | | | $ | (65,860) | | | $ | — | | | $ | — | | Derivatives | $ | 11,859 | | | $ | — | | | $ | 11,859 | | | $ | — | | | $ | (4,031) | | | $ | 7,828 | | | | | | | | | | | | | | December 31, 2023: | | | | | | | | | | | | Securities loaned | $ | 125,101 | | | $ | — | | | $ | 125,101 | | | $ | (122,369) | | | $ | — | | | $ | 2,732 | | Derivatives | $ | 18,180 | | | $ | — | | | $ | 18,180 | | | $ | — | | | $ | (7,795) | | | $ | 10,385 | | | | | | | | | | | | | |
Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.
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