Incentive Plans (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, restricted stock, profits interest participation rights, including PRPUs, and other share-based awards) and “professional services” expense (with respect to DSUs) within the Company’s accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2021 and 2020:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Share-based incentive awards:
RSUs	$	36,102	$	40,223	$	70,907	$	83,140
PRSUs		155		630		5,714		4,991
Restricted Stock		5,699		9,015		11,766		17,546
Profits interest participation rights		32,109		16,885		53,682		33,051
DSUs		1,631		1,791		1,818		1,977
Total	$	75,696	$	68,544	$	143,887	$	140,705

Summary of LFI and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the six month period ended June 30, 2021:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2021	$	101,631		$	311,400
Granted		161,892			161,892
Settled		-			(100,792	)
Forfeited		(1,100	)		(5,756	)
Amortization		(80,887	)		-
Change in fair value related to:
Change in fair value of underlying    investments		-			23,978
Adjustment for estimated forfeitures		-			5,562
Other		3			(1,223	)
Balance, June 30, 2021	$	181,539		$	395,061

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2021 and 2020:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Amortization, net of forfeitures	$	51,770	$	43,177	$	81,793	$	69,425
Change in the fair value of underlying investments		16,491		23,803		23,978		4,166
Total	$	68,261	$	66,980	$	105,771	$	73,591

Restricted Stock Units and Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs during the six month period ended June 30, 2021:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance, January 1, 2021		9,266,344		$	42.96		478,800		$	36.36
Granted (including 220,811 RSUs relating to dividend    participation)		2,903,430		$	43.11		39,081		$	46.51
Forfeited		(90,990	)	$	40.97		-			-
Settled		(3,735,389	)	$	47.42		(185,657	)		35.89
Balance, June 30, 2021		8,343,395		$	41.03		332,224		$	37.82

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to shares of restricted common stock associated with compensation arrangements during the six month period ended June 30, 2021:

	Restricted Shares			Weighted Average Grant Date Fair Value
Balance, January 1, 2021		1,144,959		$	41.09
Granted (including 19,202 relating to dividend participation)		434,323		$	43.27
Forfeited		(28,984	)	$	41.20
Settled		(501,877	)	$	42.91
Balance, June 30, 2021		1,048,421		$	41.12

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the six month period ended June 30, 2021:

	PRSUs			Weighted Average Grant Date Fair Value
Balance, January 1, 2021		546,959		$	53.48
Granted		32,394		$	46.63
Settled		(546,959	)	$	53.48
Balance, June 30, 2021		32,394		$	46.63

Profits Interest Participation Rights [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the six month period ended June 30, 2021:

	Profits Interest Participation Rights		Weighted Average Grant Date Fair Value
Balance, January 1, 2021		2,523,075	$	40.43
Granted		1,159,864	$	44.73
Balance, June 30, 2021 (a)		3,682,939	$	41.78

(a) Table includes 1,561,120 PRPUs, which represents the target number of PRPUs granted as of June 30, 2021, including 510,342 PRPUs granted during the six month period ended June 30, 2021. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2021 were $40.61 and $40.30, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights granted during the six month period ended June 30, 2021 were $46.63 and $43.23, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of June 30, 2021 were $42.58 and $41.20, respectively.