Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023:


	June 30, 2024
	Level 1		Level 2		Level 3		Total
Debt Securities Carried by EGL	$	473,006	$	—	$	—	$	473,006
Other Debt and Equity Securities(1)	316,194		—		—		316,194
Investment Funds	164,953		—		—		164,953


Total Assets Measured At Fair Value	$	954,153	$	—	$	—	$	954,153

	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

(1)Includes $9,686 and $8,557 of treasury bills classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of June 30, 2024 and December 31, 2023, 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 Unaudited Condensed Consolidated Statements of Financial Condition, are listed in the tables below.


			June 30, 2024
	Carrying		Estimated Fair Value
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and Cash Equivalents	$	621,933	$	621,933	$	—	$	—	$	621,933
Certificates of Deposit	115,316		—		115,316		—		115,316


Receivables(1)	448,240		—		445,358		—		445,358
Contract Assets(2)	64,236		—		64,003		—		64,003


Closely-held Equity Securities	632		—		—		632		632

Financial Liabilities:
Accounts Payable and Accrued Expenses	$	35,528	$	—	$	35,528	$	—	$	35,528

Payable to Employees and Related Parties	65,116		—		65,116		—		65,116

Notes Payable	373,941		—		354,173		—		354,173


			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

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

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