Segment Operating Results (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment's contribution.

	For the Three Months Ended March 31,
	2022		2021
Investment Banking
Net Revenues(1)	$	704,301	$	647,285
Operating Expenses	500,572		456,526
Other Expenses(2)	—		7
Operating Income	203,729		190,752
Income from Equity Method Investments	374		169
Pre-Tax Income	$	204,103	$	190,921
Identifiable Segment Assets	$	2,787,619	$	2,576,598
Investment Management
Net Revenues(1)	$	18,553	$	15,025
Operating Expenses	12,918		11,569
Operating Income	5,635		3,456
Income from Equity Method Investments	2,138		2,855
Pre-Tax Income	$	7,773	$	6,311
Identifiable Segment Assets	$	150,745	$	149,315
Total
Net Revenues(1)	$	722,854	$	662,310
Operating Expenses	513,490		468,095
Other Expenses(2)	—		7
Operating Income	209,364		194,208
Income from Equity Method Investments	2,512		3,024
Pre-Tax Income	$	211,876	$	197,232
Identifiable Segment Assets	$	2,938,364	$	2,725,913

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

	For the Three Months Ended March 31,
	2022		2021
Investment Banking(A)	$	(7,467)	$	2,584
Investment Management	1,438		76
Total Other Revenue, net	$	(6,029)	$	2,660

(A)Other Revenue, net, from Investment Banking includes interest expense on the Notes Payable and lines of credit of $4,250 and $4,570 for the three months ended March 31, 2022 and 2021, respectively.

(2)Other Expenses are as follows:

	For the Three Months Ended March 31,
	2022		2021
Investment Banking
Acquisition and Transition Costs	$	—	$	7
Total Investment Banking	—		7
Investment Management
Total Investment Management	—		—
Total Other Expenses	$	—	$	7

Revenues Derived from Clients 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,
	2022		2021
Net Revenues:(1)
United States	$	610,731	$	460,648
Europe and Other	112,065		198,614
Latin America	6,087		388
Total	$	728,883	$	659,650

(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, 2022		December 31, 2021
Total Assets:
United States	$	2,446,819	$	3,199,435
Europe and Other	491,545		603,222
Total	$	2,938,364	$	3,802,657