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Cost-Saving Initiatives (Tables) | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Schedule of Activities Related to Cost Savings Initiatives | Expenses and losses associated with the cost-saving initiatives for the year ended December 31, 2023 consisted of the following:
| Year Ended December 31, 2023
| Financial Advisory |  | Asset Management |  | Corporate |  | Total
Severance and other employee termination expenses (included in "compensation and benefits" expense) | $ | 98,219 |  |  | $ | 49,152 |  |  | $ | 34,732 |  |  | $ | 182,103 |
Technology asset impairments (included in "technology and information services") | 144 |  |  | 7,877 |  |  | – |  |  | 8,021 |
Foreign exchange related losses associated with closing of certain offices (included in "revenue-other") | 1,824 |  |  | – |  |  | 3,054 |  |  | 4,878 |
Other | 2,241 |  |  | 470 |  |  | 2,291 |  |  | 5,002 |
Total | $ | 102,428 |  |  | $ | 57,499 |  |  | $ | 40,077 |  |  | $ | 200,004 |
Additional compensation and benefits expense of approximately $40,000 was incurred in the first quarter of 2024. Activity related to the obligations pursuant to the cost-saving initiatives during the year ended December 31, 2023 was as follows:
| Accrued Compensation and Benefits |  | Other |  | Total
Balance, January 1, 2023 | $ | – |  |  | $ | – |  |  | $ | – |
Total expenses | 182,103 |  |  | 17,901 |  |  | 200,004 |
Less: |  |  |  |  |
Noncash expenses (a) | 33,790 |  |  | 10,626 |  |  | 44,416 |
Payments and settlements | 96,967 |  |  | 6,323 |  |  | 103,290 |
Balance, December 31, 2023 | $ | 51,346 |  |  | $ | 952 |  |  | $ | 52,298 |
___________________________________ (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 and certain foreign exchange related losses.

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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