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RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES The Company’s receivables represent fee receivables, amounts due from customers and other receivables. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the current expected credit losses (“CECL”) model, for general credit risk of the overall portfolio and for specific accounts deemed uncollectible, which may include situations where a fee is in dispute. Of the Company’s fee receivables at September 30, 2023 and December 31, 2022, $115,379 and $97,964, respectively, represented financing receivables for our Private Capital Advisory fees. At September 30, 2023 and December 31, 2022, customers and other receivables included $89,753 and $128,890, respectively, of customer loans, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both September 30, 2023 and December 31, 2022. The aggregate carrying amount of other fees and customers and other receivables was $427,001 and $425,904 at September 30, 2023 and December 31, 2022, respectively. Activity in the allowance for credit losses for the three month and nine month periods ended September 30, 2023 and 2022 was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Beginning Balance | $ | 27,095 |  |  | $ | 30,271 |  |  | $ | 17,738 |  |  | $ | 33,957 |  |  |  |  |
Bad debt expense, net of reversals | 2,268 |  |  | 566 |  |  | 13,287 |  |  | 24 |  |  |  |  |
Charge-offs, foreign currency translation and other adjustments | (8,282) |  |  | (15,517) |  |  | (9,944) |  |  | (18,661) |  |  |  |  |
Ending Balance | $ | 21,081 |  |  | $ | 15,320 |  |  | $ | 21,081 |  |  | $ | 15,320 |  |  |  |  |
Bad debt expense, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses-other” on the condensed consolidated statements of operations. The allowance for credit losses is substantially all related to M&A and Restructuring fee receivables and other receivables.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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