Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Categorization of Investments and Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021:


	September 30, 2022
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	389,250	$	—	$	—	$	389,250
Other Debt and Equity Securities	658,029		—		—		658,029
Investment Funds	127,021		—		—		127,021


Total Assets Measured At Fair Value	$	1,174,300	$	—	$	—	$	1,174,300

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	784,842	$	—	$	—	$	784,842
Other Debt and Equity Securities(1)	710,706		—		—		710,706
Investment Funds	150,873		—		—		150,873

Total Assets Measured At Fair Value	$	1,646,421	$	—	$	—	$	1,646,421

(1)Includes $3,000 of treasury bills and notes classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statement of Financial Condition as of December 31, 2021.

Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value

The carrying amount and estimated fair value of the Company's financial instrument assets and liabilities, which are not measured at fair value on the Unaudited Condensed Consolidated Statements of Financial Condition, are listed in the tables below.


			September 30, 2022
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	473,066	$	473,066	$	—	$	—	$	473,066
Certificates of Deposit	138,701		—		138,701		—		138,701


Receivables(1)	360,766		—		359,246		—		359,246
Contract Assets(2)	34,066		—		33,919		—		33,919
Receivable from Employees and Related Parties	23,178		—		23,178		—		23,178

Closely-held Equity Securities	557		—		—		557		557

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	33,088	$	—	$	33,088	$	—	$	33,088

Payable to Employees and Related Parties	36,461		—		36,461		—		36,461

Notes Payable	369,300		—		343,898		—		343,898


			December 31, 2021
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	575,317	$	575,317	$	—	$	—	$	575,317
Certificates of Deposit	141,218		—		141,218		—		141,218


Receivables(1)	439,432		—		436,749		—		436,749
Contract Assets(2)	27,037		—		25,986		—		25,986
Receivable from Employees and Related Parties	25,208		—		25,208		—		25,208

Closely-held Equity Securities	676		—		—		676		676

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	31,633	$	—	$	31,633	$	—	$	31,633

Payable to Employees and Related Parties	58,876		—		58,876		—		58,876
Notes Payable	376,243		—		390,288		—		390,288

(1)Includes Accounts Receivable, as well as long-term receivables, which are included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

(2)Includes current and long-term contract assets included in Other Current Assets and Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.