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Revenues from Contracts with Customers
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer
17. Revenues from Contracts with Customers
The following table presents the Company’s total revenues from contracts with customers:
 
 
 
Years Ended December 31,
 
 
2022
 
2021
 
2020
Revenues from contracts with customers:
 
 
 
Advisory fees
  
 
$		 293,632  
 
 
 
$		 298,052
 
 		  
 
$		 246,395
   
Other
     7,713       6,266       3,517
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total operating revenues
  
 
$
 
 
 
 
 
 
 
301,345		    
 
$
 
 
 
 
 
 
304,318		    
 
$
 
 
 
 
 
249,912
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The Company recognizes revenues from contracts with customers when the performance obligation is satisfied, which is when the promised services are transferred to the customer. A service is considered to be transferred when the customer obtains control, which is represented by the transfer of rights with regard to the 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 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
18
). 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:

 
 
Years Ended December 31,
 
 
 
2022
 
 
2021
 
 
2020
 
Revenues from contracts with customers:
  
  
  
United States
    $ 184,036      $ 179,016      $ 142,074  
Jersey
      103,692        114,623        103,061  
Ireland
      13,617        10,679        4,412  
Canada (Note 3)
      —          —          365  
    
 
 
     
 
 
     
 
 
  
Total operating revenues
    $
 
 
 
 
 
301,345		      $
 
 
 
 
 
304,318		      $
 
 
 
 
 
 
249,912