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Revenues from Contracts with Customers
 9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer
18. Revenues from Contracts with Customers
The following table presents the Company’s total revenues from contracts with customers:
 
    
Three Months Ended
September 30,
     
Nine Months Ended
September 30,
  
    
2020
     
2019
     
2020
     
2019
  
Revenues from contracts with customers:
            
Advisory fees
    $ 63,919      $ 67,006      $ 184,077      $ 197,473  
Other
      721        712        2,563        2,023  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total operating revenues
    $ 64,640      $ 67,718      $ 186,640      $ 199,496  
  
 
 
     
 
 
     
 
 
     
 
 
  
The Company recognizes revenues from contracts with customers when the performance obligation is satisfied, which is when the promised goods or services are transferred to the customer. A good or service is considered to be transferred when the customer obtains control, which is represented by the transfer of rights with regard to the good or service. Transfer of control happens either over time or at a point in time. When a performance obligation is satisfied over time, an entity is required to select a single method of measuring progress for each performance obligation that depicts the entity’s performance in transferring control of goods or services to the customer.
Substantially all the Company’s revenues from contracts with customers are derived primarily from investment advisory agreements with related parties (Note 19). These advisory fees are recognized over time, are earned from the Company’s ETPs and are calculated based on a percentage of the ETPs’ average daily net assets. There is no significant judgment in calculating amounts due which are invoiced monthly in arrears and are not subject to any potential reversal. Progress is measured using the practical expedient under the output method resulting in the recognition of revenue in the amount for which the Company has a right to invoice.
There are no contract assets or liabilities that arise in connection with the recognition of advisory fee revenue. In addition, there are no costs incurred to obtain or fulfill the contracts with customers, all of which are investment advisory agreements with related parties.
Geographic Distribution of Revenue
The following table presents the Company’s total revenues geographically as determined by where the respective management companies reside:
 
    
Three Months Ended
September 30,
     
Nine Months Ended
September 30,
  
    
2020
     
2019
     
2020
     
2019
  
Revenues from contracts with customers:
            
United States
    $ 34,018      $ 42,030      $ 105,517      $ 127,799  
Jersey
      29,527        23,896        77,693        66,425  
Ireland
      1,095        1,164        3,065        3,491  
Canada (Note 25)
      —          628        365        1,781  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total operating revenues
    $ 64,640      $ 67,718      $ 186,640      $ 199,496