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Revenue and Accounts Receivable (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following table presents revenue recognized by the Company for the three and nine months ended September 30, 2024 and 2023:
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2024202320242023
Investment Banking & Equities:
Advisory Fees$592,980 $467,401 $1,591,049 $1,304,519 
Underwriting Fees44,132 30,814 130,666 91,897 
Commissions and Related Revenue54,559 48,697 155,996 146,810 
Total Investment Banking & Equities$691,671 $546,912 $1,877,711 $1,543,226 
Investment Management:
Asset Management and Administration Fees:
Wealth Management
$20,555 $17,304 $58,454 $49,837 
Total Investment Management$20,555 $17,304 $58,454 $49,837 
Contract with Customer, Asset and Liability [Table Text Block]
The change in the Company’s contract assets and liabilities during the following periods primarily reflects timing differences between the Company’s performance and the client’s payment. The Company’s receivables, contract assets and deferred revenue (contract liabilities) for the nine months ended September 30, 2024 and 2023 are as follows:
For the Nine Months Ended September 30, 2024
Receivables
(Current)(1)
Receivables
(Long-term)(2)
Contract Assets (Current)(3)
Contract Assets (Long-term)(2)
Deferred Revenue
(Current Contract Liabilities)(4)
Balance at January 1, 2024$371,606 $93,689 $85,401 $5,845 $3,524 
Increase (Decrease)43,888 3,945 25,076 (3,170)1,082 
Balance at September 30, 2024$415,494 $97,634 $110,477 $2,675 $4,606 
For the Nine Months Ended September 30, 2023
Receivables
(Current)(1)
Receivables
(Long-term)(2)
Contract Assets (Current)(3)
Contract Assets (Long-term)(2)
Deferred Revenue
(Current Contract Liabilities)(4)
Balance at January 1, 2023$385,131 $64,139 $110,468 $8,028 $5,071 
Increase (Decrease)(52,138)14,878 (67,412)(622)3,092 
Balance at September 30, 2023$332,993 $79,017 $43,056 $7,406 $8,163 
(1)Included in Accounts Receivable on the Unaudited Condensed Consolidated Statements of Financial Condition.
(2)Included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(3)Included in Other Current Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(4)Included in Other Current Liabilities on the Unaudited Condensed Consolidated Statements of Financial Condition.
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
The allowance for credit losses for the three and nine months ended September 30, 2024 and 2023 is as follows:
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2024202320242023
Beginning Balance$4,991 $8,712 $5,603 $4,683 
Bad debt expense, net of reversals1,162 (290)2,133 5,007 
Write-offs, foreign currency translation and other adjustments— (3,268)(1,583)(4,536)
Ending Balance$6,153 $5,154 $6,153 $5,154 
Accounts Receivable, Noncurrent, Credit Quality Indicator [Table Text Block]
For long-term accounts receivable and long-term contract assets, the Company monitors clients’ creditworthiness based on collection experience and other internal metrics. The following table presents the Company’s long-term accounts receivable and long-term contract assets primarily from the Company's private and secondary fund advisory businesses as of September 30, 2024, by year of origination:
Amortized Carrying Value by Origination Year
20242023202220212020Total
Long-term Accounts Receivable and Long-term Contract Assets$40,038 $46,096 $10,403 $3,274 $498 $100,309