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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

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 June 30, 2023 and December 31, 2022:

			June 30, 2023
			Level 1						Level 2						Level 3						Total
Debt Securities Carried by EGL			$	424,574					$	—					$	—					$	424,574
Other Debt and Equity Securities(1)			337,867						—						—						337,867
Investment Funds			153,618						—						—						153,618
Other			—						1,204						—						1,204
Total Assets Measured At Fair Value			$	916,059					$	1,204					$	—					$	917,263
			December 31, 2022
			Level 1						Level 2						Level 3						Total
Debt Securities Carried by EGL			$	365,638					$	—					$	—					$	365,638
Other Debt and Equity Securities(1)			815,409						—						—						815,409
Investment Funds			136,718						—						—						136,718
Total Assets Measured At Fair Value			$	1,317,765					$	—					$	—					$	1,317,765

(1)Includes $8,318 and $7,939 of treasury bills classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2023 and December 31, 2022, respectively.

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.

									June 30, 2023
			Carrying						Estimated Fair Value
			Amount						Level 1						Level 2						Level 3						Total
Financial Assets:
Cash and Cash Equivalents			$	512,313					$	512,313					$	—					$	—					$	512,313
Certificates of Deposit			54,380						—						54,380						—						54,380
Receivables(1)			386,583						—						384,602						—						384,602
Contract Assets(2)			70,892						—						69,526						—						69,526
Receivable from Employees and Related Parties			18,889						—						18,889						—						18,889
Closely-held Equity Securities			635						—						—						635						635
Financial Liabilities:
Accounts Payable and Accrued Expenses			$	34,060					$	—					$	34,060					$	—					$	34,060
Payable to Employees and Related Parties			50,991						—						50,991						—						50,991
Notes Payable			373,553						—						351,756						—						351,756
									December 31, 2022
			Carrying						Estimated Fair Value
			Amount						Level 1						Level 2						Level 3						Total
Financial Assets:
Cash and Cash Equivalents			$	655,461					$	655,461					$	—					$	—					$	655,461
Certificates of Deposit			122,890						—						122,890						—						122,890
Receivables(1)			449,270						—						447,051						—						447,051
Contract Assets(2)			118,496						—						117,701						—						117,701
Receivable from Employees and Related Parties			21,914						—						21,914						—						21,914
Closely-held Equity Securities			604						—						—						604						604
Financial Liabilities:
Accounts Payable and Accrued Expenses			$	28,807					$	—					$	28,807					$	—					$	28,807
Payable to Employees and Related Parties			41,235						—						41,235						—						41,235
Notes Payable			371,774						—						349,955						—						349,955

(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.

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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