INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Supplemental information on an unaudited pro forma basis assumes that the Company's election to be taxed as a corporation for U.S. federal income tax purposes was effective for the year ended December 31, 2017.

	For the Year Ended December 31,
Provision for Income Taxes	2019		2018		2017		Unaudited 2017 Pro Forma
The Company
Current:
U.S. federal income tax expense (benefit)	$	32,012	$	16,859	$	(21,559)	$	2,634
State and local income tax expense	6,940		4,306		454		2,963
Foreign income tax expense	6,103		6,607		3,741		3,741
	45,055		27,772		(17,364)		9,338
Deferred:
U.S. federal income tax expense (benefit)	8,820		10,572		(3,466)		18,297
State and local income tax expense (benefit)	1,001		(4,789)		(2,414)		(721)
Foreign income tax benefit	(1,970)		(1,484)		(1,695)		(1,695)
	7,851		4,299		(7,575)		15,881
Total:
U.S. federal income tax expense (benefit)	40,832		27,431		(25,025)		20,931
State and local income tax expense (benefit)	7,941		(483)		(1,960)		2,242
Foreign income tax expense	4,133		5,123		2,046		2,046
Income tax expense (benefit)	52,906		32,071		(24,939)		25,219
Consolidated Funds
Current:
Foreign income tax expense (benefit)	(530)		131		1,887		1,887
Income tax expense (benefit)	(530)		131		1,887		1,887
Total Provision for Income Taxes
Total current income tax expense (benefit)	44,525		27,903		(15,477)		11,225
Total deferred income tax expense (benefit)	7,851		4,299		(7,575)		15,881
Total income tax expense (benefit)	$	52,376	$	32,202	$	(23,052)	$	27,106

Schedule of Effective Income Tax Rate Reconciliation

Supplemental information on an unaudited pro forma basis assumes that the Company's election to be taxed as a corporation for U.S. federal income tax purposes was effective for the year ended December 31, 2017.  

	For the Year Ended December 31,
	2019		2018		2017		Unaudited 2017 Pro Forma
Income tax expense at federal statutory rate	21.0	%	21.0	%	35.0	%	35.0	%
Income passed through to non-controlling interests	(10.4)		(9.9)		(51.1)		(23.2)
State and local taxes, net of federal benefit	1.9		2.1		(1.4)		0.4
Foreign taxes	0.3		0.3		0.3		0.3
Permanent items	(0.4)		(0.8)		0.3		0.3
Tax Cuts and Jobs Act	—		(0.4)		(0.4)		3.3
Corporate conversion expense	—		5.4		—		—
Other, net	(0.1)		(0.3)		0.4		0.4
Valuation allowance	—		0.1		1.3		1.3
Total effective rate	12.3	%	17.5	%	(15.6)	%	17.8	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets, net are included within other assets on the Consolidated Statements of Financial Condition.

	As of December 31,
Deferred Tax Assets and Liabilities of the Company	2019		2018
Deferred tax assets
Amortizable tax basis for AOG unit exchanges	$	25,994	$	25,928
Investment in partnerships	12,841		11,527
Net operating losses	367		865
Other, net	7,216		5,416
Total gross deferred tax assets	46,418		43,736
Valuation allowance	(54)		(22)
Total deferred tax assets, net	46,364		43,714
Deferred tax liabilities
Investment in partnerships	—		(1,577)
Total deferred tax liabilities	—		(1,577)
Net deferred tax assets	$	46,364	$	42,137

	As of December 31,
Deferred Tax Assets and Liabilities of the Consolidated Funds	2019		2018
Deferred tax assets
Net operating loss	$	5,391	$	5,525
Other, net	2,173		2,173
Total gross deferred tax assets	7,564		7,698
Valuation allowance	(7,564)		(7,698)
Total deferred tax assets, net	$	—	$	—