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INCENTIVE PLANS (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule 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 SPRPUs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying condensed consolidated statements of operations for the three month and nine month periods ended September 30, 2023 and 2022:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Share-based incentive awards: |  |  |  |  |  |  |  |  |  |  |
RSUs | $ | 41,085 |  |  | $ | 37,061 |  |  | $ | 136,772 |  |  | $ | 98,012 |  |  |  |  |
PRSUs | 569 |  |  | 498 |  |  | 1,920 |  |  | 1,387 |  |  |  |  |
RSAs | 5,742 |  |  | 6,420 |  |  | 21,117 |  |  | 19,197 |  |  |  |  |
Profits interest participation rights | 10,815 |  |  | 30,762 |  |  | 48,077 |  |  | 80,454 |  |  |  |  |
DSUs | 151 |  |  | 175 |  |  | 1,744 |  |  | 2,052 |  |  |  |  |
Total | $ | 58,362 |  |  | $ | 74,916 |  |  | $ | 209,630 |  |  | $ | 201,102 |  |  |  |  |
Schedule 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 nine month period ended September 30, 2023:
| Prepaid Compensation Asset |  | Compensation Liability
Balance, January 1, 2023 | $ | 112,124 |  |  | $ | 326,282 |
Granted | 159,981 |  |  | 159,981 |
Settled | - |  |  | (167,526) |
Amortization and the impact of forfeitures | (126,169) |  |  | 7,285 |
Change in fair value of underlying investments | - |  |  | 15,530 |
Other | 109 |  |  | (969) |
Balance, September 30, 2023 | $ | 146,045 |  |  | $ | 340,583 |
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 nine month periods ended September 30, 2023 and 2022:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Amortization and the impact of forfeitures | $ | 41,368 |  |  | $ | 41,956 |  |  | $ | 133,454 |  |  | $ | 125,210 |  |  |  |  |
Change in the fair value of underlying investments | (10,598) |  |  | (16,180) |  |  | 15,530 |  |  | (65,601) |  |  |  |  |
Total | $ | 30,770 |  |  | $ | 25,776 |  |  | $ | 148,984 |  |  | $ | 59,609 |  |  |  |  |
RSUs and DSUs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to RSUs and DSUs during the nine month period ended September 30, 2023:
| RSUs |  | DSUs
| Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2023 | 9,022,917 |  | $ | 37.97 |  |  | 400,820 |  | $ | 37.66 |
Granted (including 515,420 RSUs relating to dividend participation) | 5,496,350 |  | $ | 36.51 |  |  | 58,414 |  | $ | 29.87 |
Forfeited | (127,546) |  | $ | 33.34 |  |  | - |  | $ | - |
Settled | (3,359,950) |  | $ | 41.65 |  |  | (134,744) |  | $ | 36.21 |
Balance, September 30, 2023 | 11,031,771 |  | $ | 36.17 |  |  | 324,490 |  | $ | 36.86 |
RSAs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity related to RSAs associated with compensation arrangements during the nine month period ended September 30, 2023:
| RSAs |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2023 | 1,266,424 |  | $ | 36.99 |
Granted (including 71,900 relating to dividend participation) | 646,979 |  | $ | 37.65 |
Forfeited | (12,447) |  | $ | 38.35 |
Settled | (660,282) |  | $ | 39.27 |
Balance, September 30, 2023 | 1,240,674 |  | $ | 36.10 |
PRSUs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to PRSUs during the nine month period ended September 30, 2023:
| PRSUs |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2023 | 94,690 |  | $ | 39.27 |
Balance, September 30, 2023 | 94,690 |  | $ | 39.27 |
Profits interest participation rights |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Activity Relating to Share-based Awards | The following is a summary of activity relating to all profits interest participation rights, including PRPUs and SPRPUs, during the nine month period ended September 30, 2023:
| Profits Interest Participation Rights |  | Weighted Average Grant Date Fair Value
Balance, January 1, 2023 | 4,131,628 |  | $ | 40.15 |
Granted | 3,488,074 |  | $ | 22.47 |
Forfeited | (16,695) |  | $ | 43.23 |
Settled | (1,521,620) |  | $ | 42.17 |
Balance, September 30, 2023 (a) | 6,081,387 |  | $ | 29.50 |
__________________________ (a)Table includes 1,474,002 PRPUs and 2,250,000 SPRPUs as of September 30, 2023. This includes 2,447,224 PRPUs as of January 1, 2023, net of 973,222 PRPUs settled and 2,250,000 SPRPUs granted during the nine month period ended September 30, 2023. The balance as of September 30, 2023 reflects the target number of PRPUs granted in February 2021 and March 2022. There were no PRPUs granted during the nine month period ended September 30, 2023. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2023 were $40.29 and $39.96, respectively. The weighted average grant date fair values for SPRPUs and other profits interest participation rights granted during the nine month period ended September 30, 2023 was $15.06 and $35.94, respectively. The weighted average grant date fair values for other profits interest participation rights forfeited during the nine month period ended September 30, 2023 was $43.23. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the nine month period ended September 30, 2023 were $41.76 and $42.89, respectively. The weighted average grant date fair values for PRPUs, SPRPUs and other profits interest participation rights outstanding as of September 30, 2023 were $39.31, $15.06 and $37.14, respectively.

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