Compensation and Benefits (Tables)

12 Months Ended

Dec. 31, 2022

Total compensation and benefits consists of the following:


	For the Years Ended December 31,
	2022		2021		2020
Salaries, incentive compensation and benefits (1)	$	458,609	$	516,931	$	399,325
Franchise capital award compensation expense	11,769		6,887		—
Restricted share-based award compensation expense	40,004		39,236		36,493
Long-term incentive compensation expense	51,773		46,123		36,493
Total compensation and benefits	$	510,382	$	563,054	$	435,818
(1) Excluding long-term incentive compensation expense.

The following tables summarize the restricted share-based award activity for the years ended December 31, 2022, 2021 and 2020:


	Weighted-Average Grant Date Fair Value		Restricted Stock Awards and Restricted Stock Units
Unvested at January 1, 2020	$	35.00	5,005,422
Granted	33.80		919,455
Forfeited	30.92		(43,091)
Vested	32.59		(588,144)
Unvested at January 1, 2021	$	35.09	5,293,642
Granted	52.93		741,555
Forfeited	29.99		(101,001)
Vested	31.51		(688,802)
Unvested at January 1, 2022	$	38.18	5,245,394
Granted	41.86		788,703
Forfeited	40.11		(18,671)
Vested	34.85		(619,083)
Unvested at December 31, 2022	$	39.09	5,396,343


	Weighted-Average Grant Date Fair Value		Performance Share Units
Unvested at January 1, 2020	$	—	—
Granted	52.45		60,000
Forfeited	—		—
Vested	—		—
Unvested at January 1, 2021	$	52.45	60,000
Granted	68.58		75,230
Forfeited	—		—
Vested	—		—
Unvested at January 1, 2022	$	61.42	135,230
Granted	53.50		95,940
Forfeited	—		—
Vested	—		—
Unvested at December 31, 2022	$	58.13	231,170

The change in value of the investments had the following impact on the Consolidated Statements of Operations:


		For the Years Ended December 31,
Statement of Operations Section	Statement of Operations Line Item	2022		2021		2020
Operating expense (benefit)	Compensation and benefits	$	(3,391)	$	520	$	—
Non-operating income (expense)	Other net investment gain (loss)	(13,198)		2,717		—