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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue From Contracts with Customers
Note 9. Revenue From Contracts with Customers
Disaggregated Revenue
The following table presents a disaggregation of investment advisory revenue by type and vehicle for the three and six months ended June 30, 2021 and 2020:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2021202020212020
Management fees
   Artisan Funds$176,863 $109,697 $342,670 $224,376 
   Artisan Global Funds11,882 7,313 22,746 15,429 
   Separate accounts and other(1)
112,125 77,917 219,419 155,026 
Performance fees
   Separate accounts and other(1)
4,079 8,015 10,791 10,947 
Total revenues(2)
$304,949 $202,942 $595,626 $405,778 
(1) Separate accounts and other revenue consists of management fees and performance fees earned from vehicles other than Artisan Funds or Artisan Global Funds, which includes traditional separate accounts, Artisan-branded collective investment trusts and Artisan Private Funds.
(2) All management fees and performance fees from consolidated investment products are eliminated upon consolidation and therefore are omitted from this table.
Performance fees are subject to the uncertainty of market volatility, and as a result, the entire amount of the variable consideration related to performance fees is constrained until the end of each measurement period. At the end of the quarterly or annual measurement period, revenue is recorded for the actual amount of performance fees earned during that period because the uncertainty has been resolved. For performance fees with annual measurement periods, revenue recognized in the current quarter relates to performance obligations that were partially satisfied in prior periods.
The following table presents the balances of receivables related to contracts with customers:
As of June 30, 2021As of December 31, 2020
Customer
   Artisan Funds$10,068 $5,227 
   Artisan Global Funds5,267 4,473 
   Separate accounts and other100,166 87,971 
Total receivables from contracts with customers$115,501 $97,671 
Non-customer receivables6,153 2,217 
Accounts receivable$121,654 $99,888 
Artisan Funds and Artisan Global Funds are billed on the last day of each month. Artisan Funds and Artisan Global Funds make payments on the same day the invoice is received for the majority of the invoiced amount. The remainder of the invoice is generally paid in the month following receipt of the invoice. Separate accounts and other clients are generally billed on a monthly or quarterly basis, with payments due within 30 days of billing. Artisan had no other contract assets or liabilities from contracts with customers as of June 30, 2021 or December 31, 2020.