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Other Revenues and Expenses
12 Months Ended
Dec. 31, 2016
Other Income and Expenses [Abstract]  
Other Revenues and Expenses
Other Revenues and Expenses

On September 23, 2016, the Company and the portfolio managers RASL completed the sale of their respective ownership interests in RASL (See Note 2). Along with the target working capital transferred at closing, the Company also allocated a portion of goodwill associated with the alternative investment segment to the sale price (See Note 9) which is shown net in other revenues in the accompanying consolidated statements of operations.
Upon closing of the sale of the Company's long/short credit business, on December 31, 2014, the company recorded a gain of $4.5 million included in other revenues in the accompanying consolidated statements of operations (See Note 2).
During the fourth quarter of 2014, the company adjusted the value of the contingent liability related to the securities lending business by $2.1 million due to the Company's decision to wind down the operations of the business. This amount is included in other revenues in the accompanying consolidated statements of operations (See Note 2).
Other expenses, during the years ended December 31, 2016, 2015, and 2014, are primarily the general administrative expenses of the various operating company subsidiaries or the Consolidated Funds.