XML 52 R38.htm IDEA: XBRL DOCUMENT v3.21.1
Segment Operating Results (Tables)
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Information Regarding Operations By Segment
The following information presents each segment's contribution.
 For the Three Months Ended March 31,
 20212020
Investment Banking
Net Revenues(1)
$647,285 $413,656 
Operating Expenses456,526 339,795 
Other Expenses(2)
25,226 
Operating Income190,752 48,635 
Income from Equity Method Investments169 536 
Pre-Tax Income $190,921 $49,171 
Identifiable Segment Assets$2,576,598 $2,070,887 
Investment Management
Net Revenues(1)
$15,025 $13,351 
Operating Expenses11,569 12,651 
Other Expenses(2)
— 32 
Operating Income 3,456 668 
Income from Equity Method Investments2,855 2,592 
Pre-Tax Income $6,311 $3,260 
Identifiable Segment Assets$149,315 $150,665 
Total
Net Revenues(1)
$662,310 $427,007 
Operating Expenses468,095 352,446 
Other Expenses(2)
25,258 
Operating Income194,208 49,303 
Income from Equity Method Investments3,024 3,128 
Pre-Tax Income$197,232 $52,431 
Identifiable Segment Assets$2,725,913 $2,221,552 
(1)Net revenues include Other Revenue, net, allocated to the segments as follows:
 For the Three Months Ended March 31,
 20212020
Investment Banking(A)
$2,584 $(21,592)
Investment Management76 604 
Total Other Revenue, net$2,660 $(20,988)
(A)Investment Banking Other Revenue, net, includes interest expense on the Notes Payable of $4,570 and $4,842 for the three months ended March 31, 2021 and 2020, respectively.
(2)Other Expenses are as follows:
 For the Three Months Ended March 31,
 20212020
Investment Banking
Amortization of LP Units and Certain Other Awards$— $1,067 
Special Charges, Including Business Realignment Costs— 23,644 
Acquisition and Transition Costs
Intangible Asset and Other Amortization— 507 
Total Investment Banking25,226 
Investment Management
Special Charges, Including Business Realignment Costs— 32 
Acquisition and Transition Costs— — 
Total Investment Management— 32 
Total Other Expenses$$25,258 
Revenues Derived from Clients and Private Equity Funds by Geographical Areas
The Company's revenues were derived from clients located and managed in the following geographical areas:
 For the Three Months Ended March 31,
 20212020
Net Revenues:(1)
United States$460,648 $365,400 
Europe and Other198,614 80,021 
Latin America388 2,574 
Total$659,650 $447,995 
(1)Excludes Other Revenue, Including Interest and Investments, and Interest Expense.
Assets by Geographic Areas
The Company's total assets are located in the following geographical areas:
March 31, 2021December 31, 2020
Total Assets:
United States$2,245,175 $2,862,343 
Europe and Other480,738 508,545 
Total$2,725,913 $3,370,888