COST-SAVING INITIATIVES (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Activities Related to Cost Savings Initiatives

Expenses associated with the cost-saving initiatives for the three month and six month periods ended June 30, 2023 consisted of the following:


	Three Months Ended June 30, 2023
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee termination costs (included in "compensation and benefits" expense)	$	81,266	$	29,533	$	25,809	$	136,608
Technology asset impairments (included in "technology and information services")	88		7,297		-		7,385
Other	522		280		1,910		2,712
Total	$	81,876	$	37,110	$	27,719	$	146,705


	Six Months Ended June 30, 2023
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee termination costs (included in "compensation and benefits" expense)	$	90,043	$	40,768	$	26,537	$	157,348
Technology asset impairments (included in "technology and information services")	88		7,297		-		7,385
Other	522		280		1,910		2,712
Total	$	90,653	$	48,345	$	28,447	$	167,445

Activity related to the obligations pursuant to the cost-saving initiatives during the six month period ended June 30, 2023 was as follows:


	Accrued Compensation and Benefits		Other		Total
Balance, January 1, 2023	$	-	$	-	$	-
Total expenses	157,348		10,097		167,445
Less:
Noncash expenses (a)	28,481		7,490		35,971
Payments	46,052		1,535		47,587
Balance, June 30, 2023	$	82,815	$	1,072	$	83,887

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(a)Noncash expenses reflected in “accrued compensation and benefits” activity principally represents accelerated amortization of deferred incentive compensation awards. Noncash expenses reflected in “other” activity principally relates to technology asset impairments.