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Incentive Plans (Tables) | 12 Months Ended
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Dec. 31, 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, RSAs and profits interest participation rights, including PRPUs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Share-based incentive awards: |  |  |  |  |  |  |  |  |  |  |  |
RSUs |  | $ | 125,664 |  |  | $ | 124,895 |  |  | $ | 140,556 |
PRSUs |  |  | 2,011 |  |  |  | 6,136 |  |  |  | 6,264 |
RSAs |  |  | 23,923 |  |  |  | 17,765 |  |  |  | 27,976 |
Profits interest participation rights |  |  | 86,810 |  |  |  | 83,046 |  |  |  | 41,293 |
DSUs |  |  | 2,233 |  |  |  | 2,116 |  |  |  | 2,360 |
Total |  | $ | 240,641 |  |  | $ | 233,958 |  |  | $ | 218,449 |
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 year ended December 31, 2022:
|  | Prepaid Compensation Asset |  |  | Compensation Liability |
Balance, January 1, 2022 |  | $ | 108,049 |  |  | $ | 358,877 |
Granted |  |  | 167,654 |  |  |  | 167,654 |
Settled |  |  | - |  |  |  | (145,666 | )
Forfeited |  |  | (5,033 | ) |  |  | (16,894 | )
Amortization |  |  | (158,483 | ) |  |  | - |
Change in fair value related to: |  |  |  |  |  |  |  |
Change in fair value of underlying investments |  |  | - |  |  |  | (44,261 | )
Adjustment for estimated forfeitures |  |  | - |  |  |  | 8,256 |
Other |  |  | (63 | ) |  |  | (1,684 | )
Balance, December 31, 2022 |  | $ | 112,124 |  |  | $ | 326,282 |
The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Amortization, net of forfeitures |  | $ | 154,878 |  |  | $ | 151,604 |  |  | $ | 119,441 |
Change in the fair value of underlying investments |  |  | (44,261 | ) |  |  | 35,494 |  |  |  | 40,634 |
Total |  | $ | 110,617 |  |  | $ | 187,098 |  |  | $ | 160,075 |
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 for the year ended December 31, 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 455,287 RSUs relating to dividend participation) |  |  | 5,329,456 |  |  | $ | 33.73 |  |  |  | 62,412 |  |  | $ | 35.78 |  |
Forfeited |  |  | (310,646 | ) |  | $ | 39.16 |  |  |  | - |  |  | $ | - |
Settled |  |  | (4,146,675 | ) |  | $ | 38.71 |  |  |  | - |  |  | $ | - |
Balance, December 31, 2022 |  |  | 9,022,917 |  |  | $ | 37.97 |  |  |  | 400,820 |  |  | $ | 37.66 |
Restricted Stock Awards Class A [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity related to RSAs associated with compensation arrangements during the year ended December 31, 2022:
|  | RSAs |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2022 |  |  | 871,227 |  |  | $ | 41.24 |
Granted (including 67,261 relating to dividend participation) |  |  | 1,064,296 |  |  | $ | 33.37 |
Forfeited |  |  | (81,178 | ) |  | $ | 37.69 |
Settled |  |  | (587,921 | ) |  | $ | 36.63 |
Balance, December 31, 2022 |  |  | 1,266,424 |  |  | $ | 36.99 |
PRSUs [Member] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to PRSUs during the year ended December 31, 2022:
|  | PRSUs |  |  | Weighted Average Grant Date Fair Value |
Balance, January 1, 2022 |  |  | 32,394 |  |  | $ | 46.63 |
Granted |  |  | 62,296 |  |  | $ | 35.44 |
Balance, December 31, 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 year ended December 31, 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 |
Performance units earned (a) |  |  | 486,611 |  |  | $ | 40.64 |
Balance, December 31, 2022 (b) |  |  | 4,131,628 |  |  | $ | 40.15 |
(a) | Represents shares of common stock earned during the fiscal year under the performance criteria of previously-granted PRPU awards in excess of the target payout levels of such awards.
(b) | Table includes 2,447,224 PRPUs, which represents the target number of PRPUs granted and performance units earned, net of settlements as of December 31, 2022, including 2,001,174 PRPUs as of January 1, 2022 and 963,660 PRPUs granted and 486,611 performance units earned, net of 1,004,221 PRPUs settled during the year ended December 31, 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 year ended December 31, 2022 were $35.44 and $32.95, respectively. The weighted average grant date fair values for other profits interest participation rights forfeited during the year ended December 31, 2022 were $38.92. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the year ended December 31, 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 December 31, 2022 were $40.29 and $39.96, respectively.

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