Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
U.S.	$	288,414	$	455,584	$	832,411
Non-U.S.	47,632		193,562		155,731
Income before Income Tax Expense(1)	$	336,046	$	649,146	$	988,142

(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, 2023, 2022 and 2021 consist of:

	For the Years Ended December 31,
	2023		2022		2021
Current:
Federal	$	48,940	$	85,699	$	141,260
Foreign	20,426		40,680		25,643
State and Local	14,095		47,102		52,045
Total Current	83,461		173,481		218,948
Deferred:
Federal	4,400		3,020		25,352
Foreign	(6,580)		(5,893)		(1,757)
State and Local	(714)		2,018		5,483
Total Deferred	(2,894)		(855)		29,078
Total	$	80,567	$	172,626	$	248,026

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, 2023, 2022 and 2021 is as follows:

	For the Years Ended December 31,
	2023		2022		2021
Reconciliation of Federal Statutory Tax Rates:
U.S. Statutory Tax Rate	21.0	%	21.0	%	21.0	%
Increase Due to State and Local Taxes	4.6	%	5.6	%	4.6	%
Rate Benefits as a Limited Liability Company/Flow Through	(2.2)	%	(1.9)	%	(2.6)	%
Foreign Taxes	0.5	%	1.0	%	0.5	%
Non-Deductible Expenses(1)	2.0	%	1.0	%	0.3	%
ASU 2016-09 Benefit for Stock Compensation	(3.7)	%	(2.8)	%	(1.7)	%
Valuation Allowances	0.3	%	(0.3)	%	(0.4)	%
Other Adjustments	(0.5)	%	0.9	%	0.5	%
Effective Income Tax Rate	22.0	%	24.5	%	22.2	%

(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, 2023 and 2022 were as follows:

	December 31,
	2023		2022
Deferred Tax Assets:
Depreciation and Amortization	$	21,796	$	23,558
Compensation and Benefits	142,340		119,908
Step up in tax basis due to the exchange of LP Units for Class A Shares(1)	62,637		71,955
Step up in tax basis due to the exchange of LP Units for Class A Shares(2)	39,999		41,047
Operating Lease	112,715		75,519
Other	11,728		13,098
Total Deferred Tax Assets	$	391,215	$	345,085
Deferred Tax Liabilities:
Operating Lease	$	90,666	$	56,824
Goodwill, Intangible Assets and Other	17,312		14,806
Total Deferred Tax Liabilities	$	107,978	$	71,630
Net Deferred Tax Assets Before Valuation Allowance	283,237		273,455
Valuation Allowance	(17,423)		(16,289)
Net Deferred Tax Assets	$	265,814	$	257,166

(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, 2023, 2022 and 2021 is as follows:

	December 31,
	2023		2022		2021
Beginning unrecognized tax benefit	$	359	$	254	$	376
Additions for tax positions of prior years	—		105		—
Reductions for tax positions of prior years	—		—		—
Lapse of Statute of Limitations	—		—		(122)
Decrease due to settlement with Taxing Authority	—		—		—
Ending unrecognized tax benefit	$	359	$	359	$	254