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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes attributable to the Company and the Consolidated Funds, consisted of the following:
|  | Year ended December 31,
Provision for Income Taxes |  | 2023 |  | 2022 |  | 2021
The Company |  |  |  |  |  |
Current: |  |  |  |  |  |
U.S. federal income tax expense |  | $ | 34,051 |  |  | $ | 42,452 |  |  | $ | 40,861 |
State and local income tax expense |  | 13,316 |  |  | 7,614 |  |  | 12,121 |
Foreign income tax expense |  | 24,029 |  |  | 14,119 |  |  | 11,684 |
|  | 71,396 |  |  | 64,185 |  |  | 64,666 |
Deferred: |  |  |  |  |  |
U.S. federal income tax expense |  | 85,610 |  |  | 10,660 |  |  | 68,201 |
State and local income tax expense |  | 15,872 |  |  | 2,131 |  |  | 13,040 |
Foreign income tax expense (benefit) |  | (3,730) |  |  | (5,416) |  |  | 1,390 |
|  | 97,752 |  |  | 7,375 |  |  | 82,631 |
Total: |  |  |  |  |  |
U.S. federal income tax expense |  | 119,661 |  |  | 53,112 |  |  | 109,062 |
State and local income tax expense |  | 29,188 |  |  | 9,745 |  |  | 25,161 |
Foreign income tax expense |  | 20,299 |  |  | 8,703 |  |  | 13,074 |
Income tax expense |  | 169,148 |  |  | 71,560 |  |  | 147,297 |
Consolidated Funds |  |  |  |  |  |
Current: |  |  |  |  |  |
Foreign income tax expense |  | 3,823 |  |  | 331 |  |  | 88 |
Income tax expense |  | 3,823 |  |  | 331 |  |  | 88 |
Total Provision for Income Taxes |  |  |  |  |  |
Total current income tax expense |  | 75,219 |  |  | 64,516 |  |  | 64,754 |
Total deferred income tax expense |  | 97,752 |  |  | 7,375 |  |  | 82,631 |
Income tax expense |  | $ | 172,971 |  |  | $ | 71,891 |  |  | $ | 147,385 |
Schedule of Effective Income Tax Rate Reconciliation | The effective income tax rate differed from the federal statutory rate for the following reasons:
|  | Year ended December 31,
|  | 2023 |  | 2022 |  | 2021
Income tax expense at federal statutory rate |  | 21.0% |  | 21.0% |  | 21.0%
Income passed through to non-controlling interests |  | (9.6) |  | (8.9) |  | (9.2)
State and local taxes, net of federal benefit |  | 1.7 |  | 2.2 |  | 1.9
Foreign taxes |  | (0.7) |  | (1.4) |  | (0.1)
Permanent items |  | 0.2 |  | 0.6 |  | (0.3)
Disallowed executive compensation |  | 0.2 |  | 0.1 |  | 0.7
Other, net |  | 0.3 |  | 0.3 |  | (0.2)
Valuation allowance |  | (0.1) |  | 0.2 |  | —
Total effective rate |  | 13.0% |  | 14.1% |  | 13.8%
Schedule of Deferred Tax Assets and Liabilities | The income tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities were as follows as of December 31, 2023 and 2022. Deferred tax assets, net are included within other assets within the Consolidated Statements of Financial Condition.
|  | As of December 31,
Deferred Tax Assets and Liabilities of the Company |  | 2023 |  | 2022
Deferred tax assets |  |  |  |
Amortizable tax basis for AOG Unit exchanges |  | $ | 205,627 |  |  | $ | 124,217 |
Net operating losses and capital loss carryforwards |  | 1,829 |  |  | 2,192 |
Other, net |  | 6,511 |  |  | 6,089 |
Total gross deferred tax assets |  | 213,967 |  |  | 132,498 |
Valuation allowance |  | (942) |  |  | (2,155) |
Total net deferred tax assets |  | 213,025 |  |  | 130,343 |
Deferred tax liabilities |  |  |  |
Investment in partnerships |  | (191,476) |  |  | (61,410) |
Total deferred tax liabilities |  | (191,476) |  |  | (61,410) |
Deferred tax assets, net |  | $ | 21,549 |  |  | $ | 68,933 |
|  | As of December 31,
Deferred Tax Assets and Liabilities of the Consolidated Funds |  | 2023 |  | 2022
Deferred tax assets |  |  |  |
Other, net |  | $ | 2,598 |  |  | $ | — |
Total gross deferred tax assets |  | 2,598 |  |  | — |
Valuation allowance |  | (2,598) |  |  | — |
Total deferred tax assets, net |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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