XML 72 R55.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets | Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Financial Advisory | Net Revenue | $ | 1,385,357 |  |  | $ | 1,666,156 |  |  | $ | 1,764,509 |
| Operating Expenses (a) | 1,489,862 |  |  | 1,304,715 |  |  | 1,356,567 |
| Operating Income (Loss) | $ | (104,505) |  |  | $ | 361,441 |  |  | $ | 407,942 |
Asset Management | Net Revenue | $ | 1,151,496 |  |  | $ | 1,204,927 |  |  | $ | 1,424,985 |
| Operating Expenses (a) | 1,011,574 |  |  | 963,640 |  |  | 1,032,825 |
| Operating Income | $ | 139,922 |  |  | $ | 241,287 |  |  | $ | 392,160 |
Corporate | Net Revenue (Loss) | $ | (21,364) |  |  | $ | (97,512) |  |  | $ | 3,554 |
| Operating Expenses (Credit) (a) | 94,010 |  |  | (11,632) |  |  | 79,808 |
| Operating Loss | $ | (115,374) |  |  | $ | (85,880) |  |  | $ | (76,254) |
Total | Net Revenue | $ | 2,515,489 |  |  | $ | 2,773,571 |  |  | $ | 3,193,048 |
| Operating Expenses (a) | 2,595,446 |  |  | 2,256,723 |  |  | 2,469,200 |
| Operating Income (Loss) | $ | (79,957) |  |  | $ | 516,848 |  |  | $ | 723,848 |
_____________________ (a)Operating expenses include depreciation and amortization of property as set forth in table below.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Financial Advisory | $ | 8,517 |  |  | $ | 8,968 |  |  | $ | 8,480 |
Asset Management | 6,476 |  |  | 9,390 |  |  | 5,618 |
Corporate | 27,860 |  |  | 23,978 |  |  | 24,217 |
Total | $ | 42,853 |  |  | $ | 42,336 |  |  | $ | 38,315 |
| December 31,
| 2023 |  | 2022
Total Assets |  |  |
Financial Advisory | $ | 1,154,483 |  |  | $ | 1,099,921 |
Asset Management (b) | 1,232,364 |  |  | 1,786,830 |
Corporate (b) | 2,248,934 |  |  | 2,965,810 |
Total | $ | 4,635,781 |  |  | $ | 5,852,561 |
_____________________ (b)Effective December 31, 2023, certain assets, primarily “deposits with banks and short-term investments”, previously reported in the Corporate segment are reported in the Asset Management segment resulting from a change in the segment in which such assets are managed. Comparable prior year information has been recast to reflect the updated presentation.
Schedule of Operating Income, Revenue and Identifiable Assets by Geographical Areas | The following table sets forth the net revenue from, and total assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above. In the table below, Americas principally includes the U.S., EMEA principally includes the U.K. and France, and Asia Pacific principally includes Australia.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net Revenue: |  |  |  |  |
Americas | $ | 1,193,056 |  |  | $ | 1,487,056 |  |  | $ | 1,780,815 |
EMEA | 1,162,052 |  |  | 1,136,636 |  |  | 1,251,058 |
Asia Pacific | 160,381 |  |  | 149,879 |  |  | 161,175 |
Total | $ | 2,515,489 |  |  | $ | 2,773,571 |  |  | $ | 3,193,048 |
Operating Income: |  |  |  |  |
Americas | $ | (224,857) |  |  | $ | 235,640 |  |  | $ | 399,916 |
EMEA | 108,058 |  |  | 248,404 |  |  | 295,991 |
Asia Pacific | 36,842 |  |  | 32,804 |  |  | 27,941 |
Total | $ | (79,957) |  |  | $ | 516,848 |  |  | $ | 723,848 |
| December 31,
| 2023 |  | 2022
Total Assets: |  |  |
Americas | $ | 2,808,962 |  |  | $ | 3,458,250 |
EMEA | 1,679,644 |  |  | 2,218,136 |
Asia Pacific | 147,175 |  |  | 176,175 |
Total | $ | 4,635,781 |  |  | $ | 5,852,561 |

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration