Accrued Compensation and Benefits

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Accrued compensation and benefits consist of the following:



	As of December 31,
	2016		2015
	(Dollars in millions)
Accrued performance fee-related compensation	$	1,308.0	$	1,498.6
Accrued bonuses	177.2		211.9
Employment-based contingent cash consideration	—		80.4
Other	176.6		162.3
Total	$	1,661.8	$	1,953.2

Certain employees of AlpInvest are covered by defined benefit pension plans sponsored by AlpInvest. As of December 31, 2016 and 2015, the benefit obligation of those pension plans totaled approximately $61.9 million and $51.6 million, respectively. As of December 31, 2016 and 2015, the fair value of the plans’ assets was approximately $46.3 million and $46.4 million, respectively. At December 31, 2016 and 2015, the Partnership recognized a liability of $15.6 million and $5.2 million, respectively, representing the funded status of the plans, which was included in accrued compensation and benefits in the accompanying consolidated financial statements. For the years ended December 31, 2016, 2015 and 2014, the net periodic benefit cost recognized was $2.5 million, $2.8 million and $2.4 million, respectively, which is included in base compensation expense in the accompanying consolidated financial statements. No other employees of the Partnership are covered by defined benefit pension plans.