Composition of Certain Financial Statement Captions

9 Months Ended

Sep. 30, 2018

Items Included in Consolidated Statement of Financial Condition [Abstract]

Composition of Certain Financial Statement Captions

Receivables

Receivables on the accompanying Consolidated Balance Sheets consist of:



	September 30, 2018			December 31, 2017
Trade receivables	$	77,239		$	76,760
Fees earned, not billed	240,538			194,331
Other receivables	10,503			12,310
	328,280			283,401
Less: Allowance for doubtful accounts	(666		)	(695		)
	$	327,614		$	282,706

Fees earned, not billed represents receivables earned but unbilled and results from timing differences between services provided and contractual billing schedules. These billing schedules generally provide for fees to be billed on a quarterly basis. In addition, certain fees earned from investment operations services are calculated based on assets under administration that have a prolonged valuation process which delays billings to clients.

Receivables from investment products on the accompanying Consolidated Balance Sheets primarily represent fees receivable for distribution, investment advisory, and administration services to various regulated investment companies and other investment products sponsored by SEI.

Property and Equipment

Property and Equipment on the accompanying Consolidated Balance Sheets consists of:



	September 30, 2018			December 31, 2017
Buildings	$	154,723		$	153,961
Equipment	125,867			115,546
Land	10,557			10,030
Purchased software	138,565			134,610
Furniture and fixtures	17,971			18,114
Leasehold improvements	18,816			18,017
Construction in progress	10,504			6,105
	477,003			456,383
Less: Accumulated depreciation	(331,138		)	(309,955		)
Property and Equipment, net	$	145,865		$	146,428

The Company recognized $21,515 and $20,347 in depreciation expense related to property and equipment for the nine months ended September 30, 2018 and 2017, respectively.

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:



	September 30, 2018		December 31, 2017
Accrued employee compensation	$	68,371	$	88,960
Accrued consulting, outsourcing and professional fees	28,322		29,658
Accrued sub-advisory, distribution and other asset management fees	49,452		42,365
Accrued dividend payable	—		47,179
Accrued income taxes	11,164		5,583
Other accrued liabilities	50,366		51,313
Total accrued liabilities	$	207,675	$	265,058