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INCOME TAXES (Tables)

12 Months Ended

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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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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