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Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, restricted stock, profits interest participation rights, including PRPUs, and other share-based awards) and “professional services” expense (with respect to DSUs) within the Company’s accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2022 and 2021:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2022				2021				2022				2021
Share-based incentive awards:
RSUs		$	34,292			$	36,102			$	60,951			$	70,907
PRSUs			644				155				889				5,714
Restricted Stock			7,841				5,699				12,777				11,766
Profits interest participation rights			28,244				32,109				49,692				53,682
DSUs			1,728				1,631				1,877				1,818
Total		$	72,749			$	75,696			$	126,186			$	143,887

Summary of LFI and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the six month period ended June 30, 2022:

		Prepaid Compensation Asset				Compensation Liability
Balance, January 1, 2022		$	108,049			$	358,877
Granted			166,096				166,096
Settled			-				(119,526	)
Forfeited			(10,683	)			(11,394	)
Amortization			(79,748	)			-
Change in fair value related to:
Change in fair value of underlying    investments			-				(49,421	)
Adjustment for estimated forfeitures			-				4,217
Other			(33	)			(3,182	)
Balance, June 30, 2022		$	183,681			$	345,667

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2022 and 2021:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2022				2021				2022				2021
Amortization, net of forfeitures		$	47,629			$	51,770			$	83,254			$	81,793
Change in the fair value of underlying investments			(35,098	)			16,491				(49,421	)			23,978
Total		$	12,531			$	68,261			$	33,833			$	105,771

Restricted Stock Units and Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs during the six month period ended June 30, 2022:

		RSUs								DSUs
		Units				Weighted Average Grant Date Fair Value				Units				Weighted Average Grant Date Fair Value
Balance, January 1, 2022			8,150,782			$	41.16				338,408			$	38.01
Granted (including 221,575 RSUs relating to dividend    participation)			4,500,490			$	33.49				53,335			$	35.19
Forfeited			(271,135	)		$	39.46				-				-
Settled			(3,773,601	)		$	39.14				-				-
Balance, June 30, 2022			8,606,536			$	38.09				391,743			$	37.62

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to shares of restricted common stock associated with compensation arrangements during the six month period ended June 30, 2022:

		Restricted Shares				Weighted Average Grant Date Fair Value
Balance, January 1, 2022			871,227			$	41.24
Granted (including 30,290 relating to dividend participation)			1,027,325			$	33.21
Forfeited			(59,856	)		$	36.78
Settled			(372,377	)		$	38.08
Balance, June 30, 2022			1,466,319			$	36.60

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the six month period ended June 30, 2022:

		PRSUs				Weighted Average Grant Date Fair Value
Balance, January 1, 2022			32,394			$	46.63
Granted			62,296			$	35.44
Balance, June 30, 2022			94,690			$	39.27

Profits Interest Participation Rights [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the six month period ended June 30, 2022:

		Profits Interest Participation Rights				Weighted Average Grant Date Fair Value
Balance, January 1, 2022			4,122,993			$	41.50
Granted			1,521,103			$	34.53
Forfeited			(96,323	)		$	38.92
Settled			(1,902,756	)		$	38.76
Balance, June 30, 2022 (a)			3,645,017			$	40.09

(a) Table includes 1,960,613 PRPUs, which represents the target number of PRPUs granted as of June 30, 2022, including 963,660 PRPUs granted during the six month period ended June 30, 2022. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2022 were $41.82 and $41.20, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights granted during the six month period ended June 30, 2022 were $35.44 and $32.95, respectively. The weighted average grant date fair values for other profits interest participation rights forfeited during the six month period ended June 30, 2022 were $38.92. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the six month period ended June 30, 2022 were $38.86 and $38.65, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of June 30, 2022 were $40.20 and $39.96, respectively.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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