Segment Operating Results (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment's contribution.

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Investment Banking
Net Revenues(1)	$	615,250	$	670,820	$	1,319,551	$	1,318,105
Operating Expenses	470,540		468,160		971,112		924,686
Other Expenses(2)	532		—		532		7
Operating Income	144,178		202,660		347,907		393,412
Income from Equity Method Investments	164		549		538		718
Pre-Tax Income	$	144,342	$	203,209	$	348,445	$	394,130
Identifiable Segment Assets	$	2,859,302	$	2,775,859	$	2,859,302	$	2,775,859
Investment Management
Net Revenues(1)	$	15,667	$	17,045	$	34,220	$	32,070
Operating Expenses	13,663		12,692		26,581		24,261
Operating Income	2,004		4,353		7,639		7,809
Income from Equity Method Investments	2,110		2,845		4,248		5,700
Pre-Tax Income	$	4,114	$	7,198	$	11,887	$	13,509
Identifiable Segment Assets	$	152,186	$	171,589	$	152,186	$	171,589
Total
Net Revenues(1)	$	630,917	$	687,865	$	1,353,771	$	1,350,175
Operating Expenses	484,203		480,852		997,693		948,947
Other Expenses(2)	532		—		532		7
Operating Income	146,182		207,013		355,546		401,221
Income from Equity Method Investments	2,274		3,394		4,786		6,418
Pre-Tax Income	$	148,456	$	210,407	$	360,332	$	407,639
Identifiable Segment Assets	$	3,011,488	$	2,947,448	$	3,011,488	$	2,947,448

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

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Investment Banking(A)	$	(26,996)	$	11,233	$	(34,463)	$	13,817
Investment Management	(301)		862		1,137		938
Total Other Revenue, net	$	(27,297)	$	12,095	$	(33,326)	$	14,755

(A)Other Revenue, net, from Investment Banking includes interest expense on the Notes Payable and lines of credit of $4,258 and $8,508 for the three and six months ended June 30, 2022, respectively, and $4,306 and $8,876 for the three and six months ended June 30, 2021, respectively.

(2)Other Expenses are as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Investment Banking
Special Charges, Including Business Realignment Costs	$	532	$	—	$	532	$	—
Acquisition and Transition Costs	—		—		—		7
Total Investment Banking	532		—		532		7
Investment Management
Total Investment Management	—		—		—		—
Total Other Expenses	$	532	$	—	$	532	$	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 June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Net Revenues:(1)
United States	$	423,189	$	528,322	$	1,033,920	$	988,970
Europe and Other	234,968		145,117		347,033		343,731
Latin America	57		2,331		6,144		2,719
Total	$	658,214	$	675,770	$	1,387,097	$	1,335,420

(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:

	June 30, 2022		December 31, 2021
Total Assets:
United States	$	2,419,561	$	3,199,435
Europe and Other	591,927		603,222
Total	$	3,011,488	$	3,802,657