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Income Taxes and Related Payments (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31,
20222021
Current:
Federal$7,871 $9,032 
State and local1,929 2,647 
Foreign140 162 
Total9,940 11,841 
Deferred:
Federal7,532 8,312 
State and local1,314 1,465 
Total8,846 9,777 
Income tax expense (benefit)$18,786 $21,618 
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 three months ended March 31, 2022 is summarized as follows:
Deferred Tax Asset - Amortizable BasisAmounts Payable Under TRAs
December 31, 2021$459,893 $425,427 
2022 Holdings Common Unit Exchanges
1,085 922 
Amortization(10,576)— 
Change in estimate7 (482)
March 31, 2022$450,409 $425,867 
Components of deferred tax assets Net deferred tax assets comprise the following:
As of March 31, 2022As of December 31, 2021
Deferred tax assets:
Amortizable basis (1)
$450,409 $459,893 
Other (2)
39,835 38,009 
Total deferred tax assets490,244 497,902 
Less: valuation allowance (3)
— — 
Net deferred tax assets$490,244 $497,902 
(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.