Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment's Contribution with Respect to Net Revenue, Operating Expenses, Operating Income (Loss) and Total Assets

Management evaluates segment results based on net revenue and operating income (loss) and believes that the following information provides a reasonable representation of each segment’s contribution with respect to net revenue, operating income (loss) and total assets:

		As Of Or For The Year Ended December 31,
		2016			2015			2014
Financial Advisory	Net Revenue	$	1,301,044		$	1,279,628		$	1,206,734
	Operating Expenses (a)		1,017,055			1,005,837			977,681
	Operating Income	$	283,989		$	273,791		$	229,053
	Total Assets	$	907,035		$	763,374		$	785,557
Asset Management	Net Revenue	$	1,051,316		$	1,111,105		$	1,134,595
	Operating Expenses (a)		769,737			736,798			749,345
	Operating Income	$	281,579		$	374,307		$	385,250
	Total Assets	$	645,653		$	640,034		$	588,403
Corporate	Net Revenue	$	(18,989	)	$	(37,125	)	$	(40,882	)
	Operating Expenses (a)/(b)		29,118			627,593			53,956
	Operating Income (Loss)	$	(48,107	)	$	(664,718	)	$	(94,838	)
	Total Assets (c)	$	3,003,820		$	3,074,366		$	1,951,369
Total	Net Revenue	$	2,333,371		$	2,353,608		$	2,300,447
	Operating Expenses (a)		1,815,910			2,370,228			1,780,982
	Operating Income (Loss)	$	517,461		$	(16,620	)	$	519,465
	Total Assets (c)	$	4,556,508		$	4,477,774		$	3,325,329

(a)	Operating expenses include depreciation and amortization of property as set forth in table below.

	Year Ended December 31,
	2016		2015		2014
Financial Advisory	$	5,661	$	4,412	$	4,826
Asset Management		3,666		2,957		2,610
Corporate		23,937		25,416		27,028
Total	$	33,264	$	32,785	$	34,464

(b)	Operating expenses include $547,691 and $18,307 for the years ended December 31, 2015 and 2014, respectively, recorded for the provision pursuant to the tax receivable agreement. See Note 18 for information regarding the tax receivable agreement obligation.

(c)	As of December 31, 2015 and 2014, reflects the retrospective application of new guidance adopted by the Company on classification of debt issuance costs. See Note 3.

Schedule of Operating Income, Revenue and Identifiable Assets by Geographical Areas

The following table sets forth the net revenue from, and identifiable assets for, the Company and its consolidated subsidiaries by geographic region allocated on the basis described above.

	As Of Or For The Year Ended December 31,
	2016		2015			2014
Net Revenue:
United States	$	1,373,439	$	1,310,577		$	1,308,220
United Kingdom		313,538		307,072			277,610
France		311,028		350,841			376,432
Other Western Europe		168,329		151,892			150,810
Rest of World		167,037		233,226			187,375
Total	$	2,333,371	$	2,353,608		$	2,300,447
Operating Income (Loss):
United States (a)	$	332,643	$	(259,344	)	$	320,082
United Kingdom		89,279		70,742			61,744
France		47,390		73,675			87,308
Other Western Europe		35,699		22,277			12,634
Rest of World		12,450		76,030			37,697
Total	$	517,461	$	(16,620	)	$	519,465
Identifiable Assets:
United States (b)	$	2,967,380	$	2,800,691		$	1,833,975
United Kingdom		238,195		282,403			266,584
France		899,738		992,541			809,241
Other Western Europe		141,038		125,921			135,889
Rest of World		310,157		276,218			279,640
Total (b)	$	4,556,508	$	4,477,774		$	3,325,329

(a)

Operating income (loss) includes $547,691 and $18,307 for the years ended December 31, 2015 and 2014, respectively, recorded for the provision pursuant to the tax receivable agreement. See Note 18 for information regarding the tax receivable agreement obligation.

(b)

As of December 31, 2015 and 2014, reflects the retrospective application of new guidance adopted by the Company on classification of debt issuance costs. See Note 3.