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Revenues and Business Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Revenues and Business Information
14.
REVENUES AND BUSINESS INFORMATION

The Company’s activities as an investment banking advisory firm constitute a single business segment offering clients, including corporations, financial sponsors, governments and sovereign wealth funds, a range of advisory services with expertise across all major industries in mergers and acquisitions, recapitalizations and restructurings, capital markets and other corporate finance matters.

Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the enterprise taken as whole, not by geographic region. The following table disaggregates the revenues and assets based on the location of the office that generates the revenues or holds the assets, and therefore may not be reflective of the geography in which our clients are located.

 

 

Three Months Ended September 30,

 

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

 

2022

 

 

2021

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

$

 

192,020

 

 

$

 

437,174

 

 

 

$

 

629,344

 

 

$

 

951,697

 

 

Europe

 

 

18,209

 

 

 

 

31,129

 

 

 

 

 

99,496

 

 

 

 

104,111

 

 

Rest of World

 

 

23,277

 

 

 

 

22,518

 

 

 

 

 

49,274

 

 

 

 

59,786

 

 

Total

$

 

233,506

 

 

$

 

490,821

 

 

 

$

 

778,114

 

 

$

 

1,115,594

 

 

 

 

 

September 30,

 

December 31,

 

 

2022

 

2021

Assets:

 

 

 

 

 

 

United States

 

$

992,366

 

$

1,356,193

Europe

 

 

68,297

 

 

92,605

Rest of World

 

 

97,765

 

 

106,883

Total

 

$

1,158,428

 

$

1,555,681

 

As of September 30, 2022, and December 31, 2021, the Company had deferred revenues of $3,506 and $4,539, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the nine months ended September 30, 2022 and 2021, $4,471 and $2,423 of revenues were recognized from the opening balance of deferred revenues, respectively.

Due to the factors that may delay or terminate a transaction (see Note 2), the Company does not estimate constrained transaction fees for revenue recognition. Quantitative disclosures of constrained variable consideration are not provided for remaining, wholly unsatisfied, performance obligations. The remaining performance obligations related to retainers, upfront fees and announcement fees are typically associated with contracts that have durations of one year or less.