Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following table presents the U.S. and non-U.S. components of Income before income tax expense:

	For the Years Ended December 31,
	2022		2021		2020
U.S.	$	455,584	$	832,411	$	407,015
Non-U.S.	193,562		155,731		71,710
Income before Income Tax Expense(1)	$	649,146	$	988,142	$	478,725

(1)Net of Noncontrolling Interest.

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes reflected on the Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020 consist of:

	For the Years Ended December 31,
	2022		2021		2020
Current:
Federal	$	85,699	$	141,260	$	73,119
Foreign	40,680		25,643		20,360
State and Local	47,102		52,045		20,848
Total Current	173,481		218,948		114,327
Deferred:
Federal	3,020		25,352		9,640
Foreign	(5,893)		(1,757)		3,290
State and Local	2,018		5,483		894
Total Deferred	(855)		29,078		13,824
Total	$	172,626	$	248,026	$	128,151

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the federal statutory income tax rate and the Company's effective income tax rate for the years ended December 31, 2022, 2021 and 2020 is as follows:

	For the Years Ended December 31,
	2022		2021		2020
Reconciliation of Federal Statutory Tax Rates:
U.S. Statutory Tax Rate	21.0	%	21.0	%	21.0	%
Increase Due to State and Local Taxes	5.6	%	4.6	%	3.7	%
Rate Benefits as a Limited Liability Company/Flow Through	(1.9)	%	(2.6)	%	(2.2)	%
Foreign Taxes	1.0	%	0.5	%	(1.1)	%
Non-Deductible Expenses(1)	1.0	%	0.3	%	0.7	%
ASU 2016-09 Benefit for Stock Compensation	(2.8)	%	(1.7)	%	—	%
Valuation Allowances	(0.3)	%	(0.4)	%	1.8	%
Other Adjustments	0.9	%	0.5	%	(0.2)	%
Effective Income Tax Rate	24.5	%	22.2	%	23.7	%

(1)Primarily related to non-deductible share-based compensation expense.

Schedule of Deferred Tax Assets and Liabilities

Details of the Company's deferred tax assets and liabilities as of December 31, 2022 and 2021 were as follows:

	December 31,
	2022		2021
Deferred Tax Assets:
Depreciation and Amortization	$	23,558	$	26,207
Compensation and Benefits	119,908		95,532
Step up in tax basis due to the exchange of LP Units for Class A Shares(1)	71,955		83,313
Step up in tax basis due to the exchange of LP Units for Class A Shares(2)	41,047		44,840
Operating Lease	75,519		81,198
Other	13,098		9,511
Total Deferred Tax Assets	$	345,085	$	340,601
Deferred Tax Liabilities:
Operating Lease	$	56,824	$	62,164
Goodwill, Intangible Assets and Other	14,806		16,289
Total Deferred Tax Liabilities	$	71,630	$	78,453
Net Deferred Tax Assets Before Valuation Allowance	273,455		262,148
Valuation Allowance	(16,289)		(14,071)
Net Deferred Tax Assets	$	257,166	$	248,077

(1)Step-up in the tax basis associated with the exchange of LP Units for holders which have a tax receivable agreement.

(2)Step-up in the tax basis associated with the exchange of LP Units for holders which do not have a tax receivable agreement.

Summary of Income Tax Contingencies

A reconciliation of the changes in tax positions for the years ended December 31, 2022, 2021 and 2020 is as follows:

	December 31,
	2022		2021		2020
Beginning unrecognized tax benefit	$	254	$	376	$	494
Additions for tax positions of prior years	105		—		—
Reductions for tax positions of prior years	—		—		—
Lapse of Statute of Limitations	—		(122)		(118)
Decrease due to settlement with Taxing Authority	—		—		—
Ending unrecognized tax benefit	$	359	$	254	$	376