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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s reportable segments offer different products and services and are managed separately, as different levels and types of expertise are required to effectively manage the segments’ transactions. Each segment is reviewed to determine the allocation of resources and to assess its performance. The Company’s principal operating activities are included in its Financial Advisory and Asset Management business segments as described in Note 1. In addition, as described in Note 1, the Company records selected other activities in its Corporate segment.
The Company’s segment information for the three month periods ended March 31, 2024 and 2023 is prepared using the following methodology:
•Revenue and expenses directly associated with each segment are included in determining operating income.
•Expenses not directly associated with specific segments are allocated based on the most relevant measures applicable, including revenue, headcount, square footage and other factors.
•Segment assets are based on those directly associated with each segment, and include an allocation of certain assets relating to various segments, based on the most relevant measures applicable, including headcount, square footage and other factors.
The Company records other revenue, interest income and interest expense among the various segments based on the segment in which the underlying asset or liability is reported.
Each segment’s operating expenses include (i) compensation and benefits expenses incurred directly in support of the businesses and (ii) other operating expenses, which include directly incurred expenses for occupancy and equipment, marketing and business development, technology and information services, professional services, fund administration and outsourced services and indirect support costs (including compensation and other operating expenses related thereto) for administrative services. Such administrative services include, but are not limited to, accounting, tax, human resources, legal, information technology, facilities management and senior management activities.
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:
Three Months Ended
March 31,
20242023
Financial AdvisoryNet Revenue$453,507 $277,574 
Operating Expenses428,008 328,735 
Operating Income (Loss)$25,499 $(51,161)
Asset ManagementNet Revenue$295,476 $284,044 
Operating Expenses261,680 248,051 
Operating Income$33,796 $35,993 
CorporateNet Revenue (Loss)$15,770 $(19,182)
Operating Expenses 20,504 2,574 
Operating Loss$(4,734)$(21,756)
TotalNet Revenue$764,753 $542,436 
Operating Expenses710,192 579,360 
Operating Income (Loss)$54,561 $(36,924)
As Of
March 31, 2024December 31, 2023
Total Assets
Financial Advisory$1,026,444 $1,154,483 
Asset Management1,275,371 1,232,364 
Corporate2,285,155 2,248,934 
Total$4,586,970 $4,635,781