Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022:


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	476,778	$	—	$	—	$	476,778
Other Debt and Equity Securities(1)	753,247		—		—		753,247
Investment Funds	160,559		—		—		160,559
Other	—		1,585		—		1,585

Total Assets Measured At Fair Value	$	1,390,584	$	1,585	$	—	$	1,392,169

	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

(1)Includes $8,557 and $7,939 of treasury bills classified within Cash and Cash Equivalents on the Consolidated Statements of Financial Condition as of December 31, 2023 and 2022, 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, 2023
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	588,321	$	588,321	$	—	$	—	$	588,321
Certificates of Deposit	54,856		—		54,856		—		54,856


Receivables(1)	465,295		—		461,682		—		461,682
Contract Assets(2)	91,246		—		90,876		—		90,876


Closely-held Equity Securities	636		—		—		636		636

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	25,989	$	—	$	25,989	$	—	$	25,989

Payable to Employees and Related Parties	45,838		—		45,838		—		45,838

Notes Payable	373,885		—		360,252		—		360,252


			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


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

(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.