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v3.25.0.1

Segment Information - Select Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Segment Reporting Information [Line Items] |  |  |
Net Revenue | $ 3,051,837 | $ 2,515,489 | $ 2,773,571
Adjusted Compensation and Benefits Expense | 1,903,463 | 1,702,537 | 1,656,838
Adjusted Non-compensation Expense | 575,146 | 571,504 | 518,173
Other Segment Items | (162,283) | (75,870) | (4,513)
Adjusted Operating Income (Loss) | 410,945 | 165,578 | 594,047
Interest income (included in net revenue) | 53,604 | 42,022 | 29,457
Depreciation and amortization of property (included in adjusted non-compensation expense) | 36,231 | 42,766 | 39,253
Financial Advisory |  |  |
Segment Reporting Information [Line Items] |  |  |
Net Revenue | 1,756,183 | 1,385,357 | 1,666,156
Adjusted Compensation and Benefits Expense | 1,132,017 | 1,014,352 | 939,164
Adjusted Non-compensation Expense | 202,007 | 193,661 | 184,439
Other Segment Items | (25,134) | (28,522) | (13,734)
Adjusted Operating Income (Loss) | 397,025 | 148,822 | 528,819
Interest income (included in net revenue) | 4,730 | 1,561 | 4,074
Depreciation and amortization of property (included in adjusted non-compensation expense) | 8,398 | 8,458 | 8,968
Asset Management |  |  |
Segment Reporting Information [Line Items] |  |  |
Net Revenue | 1,186,977 | 1,151,496 | 1,204,927
Adjusted Compensation and Benefits Expense | 603,333 | 545,308 | 557,887
Adjusted Non-compensation Expense | 229,960 | 218,903 | 205,061
Other Segment Items | (87,103) | (83,937) | (106,262)
Adjusted Operating Income (Loss) | 266,581 | 303,348 | 335,717
Interest income (included in net revenue) | 14,457 | 19,752 | 6,247
Depreciation and amortization of property (included in adjusted non-compensation expense) | 5,704 | 6,448 | 9,363
Corporate |  |  |
Segment Reporting Information [Line Items] |  |  |
Net Revenue | 108,677 | (21,364) | (97,512)
Adjusted Compensation and Benefits Expense | 168,113 | 142,877 | 159,787
Adjusted Non-compensation Expense | 143,179 | 158,940 | 128,673
Other Segment Items | (50,046) | 36,589 | 115,483
Adjusted Operating Income (Loss) | (252,661) | (286,592) | (270,489)
Interest income (included in net revenue) | 34,417 | 20,709 | 19,136
Depreciation and amortization of property (included in adjusted non-compensation expense) | $ 22,129 | $ 27,860 | $ 20,922

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