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Receivables and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Receivables and Allowance for Credit Losses | RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES The Company’s receivables represent fee receivables, amounts due from customers and other receivables. Where applicable, receivables are stated net of an estimated allowance for credit losses determined in accordance with the CECL model. Of the Company’s fee receivables at December 31, 2024 and 2023, $130,682 and $113,929, respectively, represented financing receivables for our Private Capital Advisory fees. At December 31, 2024 and 2023, customers and other receivables included $82,985 and $86,412, respectively, of customer loans provided by LFB to high net worth individuals and families, which are fully collateralized and monitored for counterparty creditworthiness, with such collateral having a fair value in excess of the carrying amount of the loans as of both December 31, 2024 and 2023. The aggregate carrying amount of other fees and customers and other receivables was $539,956 and $561,978 at December 31, 2024 and 2023, respectively. Activity in the allowance for credit losses for the years ended December 31, 2024, 2023 and 2022 was as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Beginning Balance | $ | 28,503 |  |  | $ | 17,738 |  |  | $ | 33,957 |
Provision for credit losses, net of reversals | 11,793 |  |  | 20,875 |  |  | 4,012 |
Charge-offs | (7,841) |  |  | (10,670) |  |  | (17,900) |
Foreign currency translation and other adjustments | (422) |  |  | 560 |  |  | (2,331) |
Ending Balance | $ | 32,033 |  |  | $ | 28,503 |  |  | $ | 17,738 |
The provision for credit losses, net of reversals represents the current period provision of expected credit losses and is included in “operating expenses-other” on the consolidated statements of operations. The allowance for credit losses is substantially all related to Financial Advisory fee receivables and other receivables.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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