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RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended
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Sep. 30, 2025
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 current expected credit losses (“CECL”) model. Of the Company’s fee receivables at September 30, 2025 and December 31, 2024, $129,437 and $130,682, respectively, represented financing receivables for our Private Capital Advisory fees. At September 30, 2025 and December 31, 2024, customers and other receivables included $129,685 and $82,985, 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 September 30, 2025 and December 31, 2024. The aggregate carrying amount of other fees and customers and other receivables was $515,560 and $539,956 at September 30, 2025 and December 31, 2024, respectively. Activity in the allowance for credit losses for the three month and nine month periods ended September 30, 2025 and 2024 was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Beginning Balance | $ | 26,545 |  |  | $ | 29,686 |  |  | $ | 32,033 |  |  | $ | 28,503 |
Provision for credit losses, net of reversals | 1,602 |  |  | (1,472) |  |  | (1,329) |  |  | 3,451 |
Charge-offs | (231) |  |  | (1,375) |  |  | (3,761) |  |  | (4,858) |
Foreign currency translation and other adjustments | (23) |  |  | 400 |  |  | 950 |  |  | 143 |
Ending Balance | $ | 27,893 |  |  | $ | 27,239 |  |  | $ | 27,893 |  |  | $ | 27,239 |
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 condensed 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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