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Derivatives (Tables)
6 Months Ended
Jun. 30, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Values of Derivatives Reported on Condensed Consolidated Statements of Financial Condition

The table below presents the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13) on the accompanying condensed consolidated statements of financial condition as of June 30, 2018 and December 31, 2017:

 

 

 

June 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Derivative Assets:

 

 

 

 

 

 

 

 

Forward foreign currency exchange rate contracts

 

$

1,193

 

 

$

3,314

 

Total return swaps and other (a)

 

 

5,206

 

 

 

418

 

 

 

$

6,399

 

 

$

3,732

 

Derivative Liabilities:

 

 

 

 

 

 

 

 

Forward foreign currency exchange rate contracts

 

$

2,122

 

 

$

4,846

 

Total return swaps and other (a)

 

 

9

 

 

 

11,270

 

LFI and other similar deferred compensation arrangements

 

 

200,844

 

 

 

182,301

 

 

 

$

202,975

 

 

$

198,417

 

(a)

For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $5,789 and $592 as of June 30, 2018, respectively, and $469 and $11,321 as of December 31, 2017, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $1,216 and $17,616 as of June 30, 2018 and December 31, 2017, respectively.

Net Gains and (Losses) With Respect To Derivative Instruments (Including Derivatives Not Designed As Hedging Instruments)

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2018 and 2017, were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Forward foreign currency exchange rate contracts

 

$

6,236

 

 

$

(6,630

)

 

$

3,753

 

 

$

(5,158

)

LFI and other similar deferred compensation arrangements

 

 

499

 

 

 

(5,753

)

 

 

1,935

 

 

 

(13,106

)

Total return swaps and other

 

 

790

 

 

 

(3,597

)

 

 

2,446

 

 

 

(8,982

)

Total

 

$

7,525

 

 

$

(15,980

)

 

$

8,134

 

 

$

(27,246

)