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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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 September 30, 2024 and December 31, 2023:

			September 30, 2024
			Level 1						Level 2						Level 3						Total
Debt Securities Carried by EGL			$	431,936					$	—					$	—					$	431,936
Other Debt and Equity Securities(1)			593,698						—						—						593,698
Investment Funds			173,511						—						—						173,511
Total Assets Measured At Fair Value			$	1,199,145					$	—					$	—					$	1,199,145
			December 31, 2023
			Level 1						Level 2						Level 3						Total
Debt Securities Carried by EGL			$	476,778					$	—					$	—					$	476,778
Other Debt and Equity Securities(1)			753,247						—						—						753,247
Investment Funds			160,559						—						—						160,559
Other			—						1,585						—						1,585
Total Assets Measured At Fair Value			$	1,390,584					$	1,585					$	—					$	1,392,169

(1)Includes $9,703 and $8,557 of treasury bills classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of September 30, 2024 and December 31, 2023, 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.

									September 30, 2024
			Carrying						Estimated Fair Value
			Amount						Level 1						Level 2						Level 3						Total
Financial Assets:
Cash and Cash Equivalents			$	523,406					$	523,406					$	—					$	—					$	523,406
Certificates of Deposit			97,676						—						97,676						—						97,676
Receivables(1)			513,128						—						510,149						—						510,149
Contract Assets(2)			113,152						—						112,924						—						112,924
Closely-held Equity Securities			668						—						—						668						668
Financial Liabilities:
Accounts Payable and Accrued Expenses			$	35,516					$	—					$	35,516					$	—					$	35,516
Payable to Employees and Related Parties			48,923						—						48,923						—						48,923
Notes Payable(3)			375,900						—						367,346						—						367,346
									December 31, 2023
			Carrying						Estimated Fair Value
			Amount						Level 1						Level 2						Level 3						Total
Financial Assets:
Cash and Cash Equivalents			$	588,321					$	588,321					$	—					$	—					$	588,321
Certificates of Deposit			54,856						—						54,856						—						54,856
Receivables(1)			465,295						—						461,682						—						461,682
Contract Assets(2)			91,246						—						90,876						—						90,876
Closely-held Equity Securities			636						—						—						636						636
Financial Liabilities:
Accounts Payable and Accrued Expenses			$	25,989					$	—					$	25,989					$	—					$	25,989
Payable to Employees and Related Parties			45,838						—						45,838						—						45,838
Notes Payable			373,885						—						360,252						—						360,252

(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.

(3)Includes current and long-term Notes Payable included in Current Portion of Notes Payable and Notes Payable 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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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