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Compensation and Benefits (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Components of Compensation Expense Total compensation and benefits consists of the following:
For the Three Months Ended March 31,
20222021
Salaries, incentive compensation and benefits (1)
$127,195 $128,364 
Long-term cash incentive compensation expense2,649 1,214 
Restricted share-based award compensation expense10,088 9,887 
Long-term incentive compensation expense12,737 11,101 
Total compensation and benefits$139,932 $139,465 
(1) Excluding long-term incentive compensation expense
Restricted Share-Based Award Activity The following tables summarize the restricted share-based award activity for the three months ended March 31, 2022:
Weighted-Average Grant Date Fair ValueRestricted Stock Awards and Restricted Stock Units
Unvested at January 1, 2022
$38.18 5,245,394 
Granted41.86 788,703 
Forfeited45.67 (1,218)
Vested34.91 (580,550)
Unvested at March 31, 2022
$39.06 5,452,329 
Nonvested Restricted Stock Shares Activity
Weighted-Average Grant Date Fair ValuePerformance Share Units
Unvested at January 1, 2022
$61.42 135,230 
Granted53.50 95,940 
Forfeited— — 
Vested— — 
Unvested at March 31, 2022
$58.13 231,170 
Change in Value of Investments
The change in value of the investments had the following impact on the unaudited consolidated statements of operations:
For the Three Months Ended March 31,
Statement of Operations SectionStatement of Operations Line Item 20222021
Operating expenses Compensation and benefits$(707)$(3)
Non-operating income (expense) Other net investment gain (loss)(2,961)(105)