Segment Operating Results (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment's contribution.

	For the Three Months Ended March 31,
	2019		2018
Investment Banking
Net Revenues(1)	$	401,188	$	450,200
Operating Expenses	311,910		331,683
Other Expenses(2)	7,258		8,037
Operating Income	82,020		110,480
Income from Equity Method Investments	255		—
Pre-Tax Income	$	82,275	$	110,480
Identifiable Segment Assets	$	1,650,115	$	1,148,662
Investment Management
Net Revenues(1)	$	14,139	$	13,363
Operating Expenses	12,241		11,273
Other Expenses(2)	108		21
Operating Income	1,790		2,069
Income from Equity Method Investments	1,956		2,125
Pre-Tax Income	$	3,746	$	4,194
Identifiable Segment Assets	$	194,822	$	268,991
Total
Net Revenues(1)	$	415,327	$	463,563
Operating Expenses	324,151		342,956
Other Expenses(2)	7,366		8,058
Operating Income	83,810		112,549
Income from Equity Method Investments	2,211		2,125
Pre-Tax Income	$	86,021	$	114,674
Identifiable Segment Assets	$	1,844,937	$	1,417,653

(1) Net revenues include Other Revenue, net, allocated to the segments as follows:

	For the Three Months Ended March 31,
	2019		2018
Investment Banking(A)	$	6,487	$	(1,428	)
Investment Management	1,756		1,608
Total Other Revenue, net	$	8,243	$	180

(A) Investment Banking Other Revenue, net, includes interest expense on the Notes Payable, subordinated borrowings and lines of credit of $2,264 and $2,261for the three months ended March 31, 2019 and 2018, respectively.

(2) Other Expenses are as follows:

	For the Three Months Ended March 31,
	2019		2018
Investment Banking
Amortization of LP Units and Certain Other Awards	$	4,072	$	3,983
Special Charges	1,029		1,897
Intangible Asset and Other Amortization	2,157		2,157
Total Investment Banking	7,258		8,037
Investment Management
Acquisition and Transition Costs	108		21
Total Investment Management	108		21
Total Other Expenses	$	7,366	$	8,058

Revenues Derived from Clients and Private Equity Funds by Geographical Areas

The Company's revenues were derived from clients located and managed in the following geographical areas:

	For the Three Months Ended March 31,
	2019		2018
Net Revenues:(1)
United States	$	274,122	$	386,517
Europe and Other	129,284		65,230
Latin America	3,678		11,636
Total	$	407,084	$	463,383

(1) Excludes Other Revenue, Including Interest and Investments, and Interest Expense.

Assets by Geographic Areas

The Company's total assets are located in the following geographical areas:

	March 31, 2019		December 31, 2018
Total Assets:
United States	$	1,522,403	$	1,757,589
Europe and Other	255,642		298,917
Latin America	66,892		69,161
Total	$	1,844,937	$	2,125,667