Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Categorization of Investments and Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of December 31, 2022 and 2021:


	December 31, 2022
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	365,638	$	—	$	—	$	365,638
Other Debt and Equity Securities(1)	815,409		—		—		815,409
Investment Funds	136,718		—		—		136,718


Total Assets Measured At Fair Value	$	1,317,765	$	—	$	—	$	1,317,765

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	784,842	$	—	$	—	$	784,842
Other Debt and Equity Securities(1)	710,706		—		—		710,706
Investment Funds	150,873		—		—		150,873

Total Assets Measured At Fair Value	$	1,646,421	$	—	$	—	$	1,646,421

(1)Includes $7,939 and $3,000 of treasury bills classified within Cash and Cash Equivalents on the Consolidated Statements of Financial Condition as of December 31, 2022 and 2021, respectively.

Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value

The carrying amount and estimated fair value of the Company's financial instrument assets and liabilities, which are not measured at fair value on the Consolidated Statements of Financial Condition, are listed in the tables below.


			December 31, 2022
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	655,461	$	655,461	$	—	$	—	$	655,461
Certificates of Deposit	122,890		—		122,890		—		122,890


Receivables(1)	449,270		—		447,051		—		447,051
Contract Assets(2)	118,496		—		117,701		—		117,701
Receivable from Employees and Related Parties	21,914		—		21,914		—		21,914

Closely-held Equity Securities	604		—		—		604		604

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	28,807	$	—	$	28,807	$	—	$	28,807

Payable to Employees and Related Parties	41,235		—		41,235		—		41,235

Notes Payable	371,774		—		349,955		—		349,955


			December 31, 2021
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	575,317	$	575,317	$	—	$	—	$	575,317
Certificates of Deposit	141,218		—		141,218		—		141,218


Receivables(1)	439,432		—		436,749		—		436,749
Contract Assets(2)	27,037		—		25,986		—		25,986
Receivable from Employees and Related Parties	25,208		—		25,208		—		25,208

Closely-held Equity Securities	676		—		—		676		676

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	31,633	$	—	$	31,633	$	—	$	31,633

Payable to Employees and Related Parties	58,876		—		58,876		—		58,876
Notes Payable	376,243		—		390,288		—		390,288

(1)Includes Accounts Receivable, as well as long-term receivables, which are included in Other Assets on the Consolidated Statements of Financial Condition.

(2)Includes current and long-term contract assets included in Other Current Assets and Other Assets on the Consolidated Statements of Financial Condition.