COST-SAVING INITIATIVES (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Activities Related to Cost Savings Initiatives

Expenses and losses associated with the cost-saving initiatives for the nine month period ended September 30, 2024 and for the three month and nine month periods ended September 30, 2023 consisted of the following:

	Nine Months Ended September 30, 2024
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee    termination expenses (included    in "compensation and benefits"    expense)	$	32,773	$	11,545	$	2,292	$	46,610
Other	708		14		1,397		2,119
Total	$	33,481	$	11,559	$	3,689	$	48,729

	Three Months Ended September 30, 2023
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee    termination expenses (included    in "compensation and benefits"    expense)	$	(21)	$	4,190	$	4,772	$	8,941
Technology asset impairments    (included in "technology and    information services")	56		515		–		571
Foreign exchange related losses associated with closing of certain offices (included in "revenue other")	2,164		–		2,483		4,647
Other	1,478		28		42		1,548
Total	$	3,677	$	4,733	$	7,297	$	15,707

	Nine Months Ended September 30, 2023
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee    termination expenses (included    in "compensation and benefits"    expense)	$	90,022	$	44,958	$	31,309	$	166,289
Technology asset impairments    (included in "technology and    information services")	144		7,812		–		7,956
Foreign exchange related losses    associated with closing    of certain offices (included in    "revenue-other")	2,164		–		2,483		4,647
Other	2,000		308		1,952		4,260
Total	$	94,330	$	53,078	$	35,744	$	183,152

Activity related to the obligations pursuant to the cost-saving initiatives during the nine month period ended September 30, 2024 was as follows:

	Accrued Compensation and Benefits		Other		Total
Balance, January 1, 2024	$	51,346	$	952	$	52,298
Total expenses	46,610		2,119		48,729
Less:
Noncash expenses (a)	9,249		3,018		12,267
Payments and settlements	79,797		53		79,850
Balance, September 30, 2024	$	8,910	$	–	$	8,910

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(a)Noncash expenses reflected in “accrued compensation and benefits” activity principally represents accelerated amortization of deferred incentive compensation awards. Noncash expenses reflected in “other” activity principally relates to impairments of certain operating lease right-of-use assets and certain foreign exchange related losses.