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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | 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 |  | 2024 |  | 2023 |  | 2022
The Company |  |  |  |  |  |
Current: |  |  |  |  |  |
U.S. federal income tax expense |  | $ | 63,292 |  |  | $ | 34,051 |  |  | $ | 42,452 |
State and local income tax expense |  | 14,326 |  |  | 13,316 |  |  | 7,614 |
Foreign income tax expense |  | 24,841 |  |  | 24,029 |  |  | 14,119 |
|  | 102,459 |  |  | 71,396 |  |  | 64,185 |
Deferred: |  |  |  |  |  |
U.S. federal income tax expense |  | 50,182 |  |  | 85,610 |  |  | 10,660 |
State and local income tax expense |  | 7,819 |  |  | 15,872 |  |  | 2,131 |
Foreign income tax benefit |  | (2,917) |  |  | (3,730) |  |  | (5,416) |
|  | 55,084 |  |  | 97,752 |  |  | 7,375 |
Total: |  |  |  |  |  |
U.S. federal income tax expense |  | 113,474 |  |  | 119,661 |  |  | 53,112 |
State and local income tax expense |  | 22,145 |  |  | 29,188 |  |  | 9,745 |
Foreign income tax expense |  | 21,924 |  |  | 20,299 |  |  | 8,703 |
Income tax expense |  | 157,543 |  |  | 169,148 |  |  | 71,560 |
Consolidated Funds |  |  |  |  |  |
Current: |  |  |  |  |  |
Foreign income tax expense (benefit) |  | (1,331) |  |  | 3,823 |  |  | 331 |
|  | (1,331) |  |  | 3,823 |  |  | 331 |
Deferred: |  |  |  |  |  |
U.S. federal income tax expense |  | 8,405 |  |  | — |  |  | — |
|  | 8,405 |  |  | — |  |  | — |
Total: |  |  |  |  |  |
U.S. federal income tax expense |  | 8,405 |  |  | — |  |  | — |
Foreign income tax expense (benefit) |  | (1,331) |  |  | 3,823 |  |  | 331 |
Income tax expense |  | 7,074 |  |  | 3,823 |  |  | 331 |
Total Provision for Income Taxes |  |  |  |  |  |
Total current income tax expense |  | 101,128 |  |  | 75,219 |  |  | 64,516 |
Total deferred income tax expense |  | 63,489 |  |  | 97,752 |  |  | 7,375 |
Income tax expense |  | $ | 164,617 |  |  | $ | 172,971 |  |  | $ | 71,891 |
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,
|  | 2024 |  | 2023 |  | 2022
Income tax expense at federal statutory rate |  | 21.0% |  | 21.0% |  | 21.0%
Income passed through to non-controlling interests |  | (9.3) |  | (9.6) |  | (8.9)
State and local taxes, net of federal benefit |  | 1.4 |  | 1.7 |  | 2.2
Foreign taxes |  | (0.7) |  | (0.7) |  | (1.4)
Permanent items |  | 0.1 |  | 0.2 |  | 0.6
Disallowed executive compensation |  | 0.3 |  | 0.2 |  | 0.1
Other, net |  | 0.1 |  | 0.3 |  | 0.3
Valuation allowance |  | — |  | (0.1) |  | 0.2
Total effective rate |  | 12.9% |  | 13.0% |  | 14.1%
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, 2024 and 2023. 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 |  | 2024 |  | 2023
Deferred tax assets |  |  |  |
Amortizable tax basis for AOG Unit exchanges |  | $ | 451,343 |  |  | $ | 205,627 |
Net operating losses and capital loss carryforwards |  | 1,888 |  |  | 1,829 |
Other, net |  | 9,793 |  |  | 6,511 |
Total gross deferred tax assets |  | 463,024 |  |  | 213,967 |
Valuation allowance |  | (941) |  |  | (942) |
Total net deferred tax assets |  | 462,083 |  |  | 213,025 |
Deferred tax liabilities |  |  |  |
Investment in partnerships |  | (220,189) |  |  | (191,476) |
Total deferred tax liabilities |  | (220,189) |  |  | (191,476) |
Deferred tax assets, net |  | $ | 241,894 |  |  | $ | 21,549 |
|  | As of December 31,
Deferred Tax Assets and Liabilities of the Consolidated Funds |  | 2024 |  | 2023
Deferred tax assets |  |  |  |
Net operating losses |  | $ | 7,932 |  |  | $ | 2,598 |
Total gross deferred tax assets |  | 7,932 |  |  | 2,598 |
Valuation allowance |  | (1,229) |  |  | (2,598) |
Total net deferred tax assets |  | 6,703 |  |  | — |
Deferred tax liabilities |  |  |  |
Investments in partnerships |  | (15,108) |  |  | — |
Total deferred tax liabilities |  | (15,108) |  |  | — |
Deferred tax assets (liabilities), net |  | $ | (8,405) |  |  | $ | — |

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