Business Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Information

Note 18 — Business Information

The Company’s activities as an investment banking firm constitute a single business segment, with substantially all revenues generated from advisory services, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private capital advisory services.

The Company principally earns its revenues from advisory fees upon the successful completion of the client’s transaction or restructuring. In 2021, there were no clients that accounted for more than 10% of total revenues. In 2020, there was one client that accounted for approximately 14% of revenues. In 2019, there was a different client that accounted for approximately 11% of revenues.

Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the enterprise taken as whole, not by geographic region. For reporting purposes, the geographic regions are the North America, Europe, and the rest of the world, which are the locations where the Company retains substantially all of its employees.

The following table presents information about the Company by geographic region, after elimination of all significant inter-company accounts and transactions:

	As of or for the Years Ended December 31,
	2021		2020		2019
	(in thousands)
Revenues
North America	$	204,989	$	167,038	$	212,916
Europe	70,466		127,631		46,827
Rest of World	42,084		17,009		41,269
Total	$	317,539	$	311,678	$	301,012
Operating income (loss)
North America	$	65,618	$	(5,238)	$	38,116
Europe	(9,252)		62,603		(9,964)
Rest of World	14,891		(2,117)		17,691
Total	$	71,257	$	55,248	$	45,843
Total assets
North America	$	247,383	$	297,579	$	196,603
Europe	153,716		138,632		129,725
Rest of World	167,533		149,588		168,047
Total	$	568,632	$	585,799	$	494,375

The Company's revenues are based on the country where the services were derived. For the years ended December 31, 2021, 2020 and 2019, the Company generated 59%, 52%, and 67%, respectively, of its total revenues from the United States and 13%, 36% and 12% respectively, of its total revenues from the United Kingdom. No other country had revenues which individually represented more than 10% of the Company’s total revenues during the years ended December 31, 2021, 2020 and 2019, respectively.

Included in the Company’s total assets are long-lived assets, excluding deferred tax assets, lease right-of-use assets and intangible assets, located in the United States of $29.1 million and $29.4 million at December 31, 2021 and 2020, respectively. No other country had long-lived assets, which individually represented more than 10% of the Company’s total long-lived assets at December 31, 2021 and 2020.