XML 43 R32.htm IDEA: XBRL DOCUMENT v3.21.2

Income Taxes and Related Payments (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Components of the provision for income taxes

Components of the provision for income taxes consist of the following:

			For the Three Months Ended June 30,												For the Six Months Ended June 30,
			2021						2020						2021						2020
Current:
Federal			$	14,285					$	5,553					$	23,317					$	7,146
State and local			3,920						1,651						6,567						2,519
Foreign			92						55						254						164
Total			18,297						7,259						30,138						9,829
Deferred:
Federal			8,645						7,712						16,957						13,610
State and local			1,523						1,285						2,988						2,268
Total			10,168						8,997						19,945						15,878
Income tax expense (benefit)			$	28,465					$	16,256					$	50,083					$	25,707

Schedule of Other Assets and Other Liabilities

The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the six months ended June 30, 2021 is summarized as follows:

			Deferred Tax Asset - Amortizable basis						Amounts payable under TRAs
December 31, 2020			$	446,954					$	412,468
2021 Follow-On Offering			16,362						13,908
2021 Holdings Common Unit Exchanges			4,500						3,825
Amortization			(19,494)						—
Payments under TRAs			—						(23,836)
June 30, 2021			$	448,322					$	406,365

Components of deferred tax assets

Net deferred tax assets comprise the following:

			As of June 30, 2021						As of December 31, 2020
Deferred tax assets:
Amortizable basis (1)			$	448,322					$	446,954
Other (2)			35,366						35,107
Total deferred tax assets			483,688						482,061
Less: valuation allowance (3)			—						—
Net deferred tax assets			$	483,688					$	482,061
(1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements.
(2) Represents the net deferred tax assets associated with the merger described above and other miscellaneous deferred tax assets. These future tax benefits are not subject to the TRA agreements.
(3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, classified as other.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration