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Income Taxes and Related Payments (Tables)
 3 Months Ended
Mar. 31, 2023
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,
20232022
Current:
Federal$4,748 $7,871 
State and local1,561 1,929 
Foreign191 140 
Total6,500 9,940 
Deferred:
Federal10,328 7,532 
State and local1,819 1,314 
Total12,147 8,846 
Income tax expense (benefit)$18,647 $18,786 
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, 2023 is summarized as follows:
Deferred Tax Asset - Amortizable BasisAmounts Payable Under TRAs
December 31, 2022$426,468 $398,789 
2023 Holdings Common Unit Exchanges
1,198 1,018 
Amortization(10,955)— 
March 31, 2023$416,711 $399,807 
Components of deferred tax assets Net deferred tax assets comprise the following:
As of March 31, 2023As of December 31, 2022
Deferred tax assets:
Amortizable basis (1)
$416,711 $426,468 
Other (2)
49,523 50,556 
Total deferred tax assets466,234 477,024 
Less: valuation allowance (3)
— — 
Net deferred tax assets$466,234 $477,024 
(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 Artisan’s investment in Holdings, related primarily to incentive compensation plan deduction timing differences. 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.