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ASSET MANAGEMENT REVENUES
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
ASSET MANAGEMENT REVENUES ASSET MANAGEMENT REVENUES
The following table presents the composition of asset management revenues:
Three Months Ended March 31,
20252024
Management fees$58,986 $57,130 
Incentive income28,686 13,821 
Total Asset Management Revenues$87,672 $70,951 


The following table presents the composition of the Company’s income and fees receivable primarily through Sculptor:
March 31, 2025December 31, 2024
Management fees receivable$33,569 $25,337 
Incentive income receivable30,895 183,335 
Total Income and Fees Receivable$64,464 $208,672 

The Company recognizes management fees over the period in which the performance obligation is satisfied, and such management fees are generally recognized at the end of each reporting period. The Company records incentive income when it is probable that a significant reversal of income will not occur. The majority of management fees and incentive income receivable at each balance sheet date is generally collected during the following quarter.

The following table presents the Company’s unearned income and fees primarily through Sculptor:
March 31, 2025December 31, 2024
Unearned management fees$852 $12 
Unearned incentive income14,477 17,268 
Total Unearned Income and Fees$15,329 $17,280 
A liability for unearned incentive income is generally recognized when Sculptor receives incentive income distributions from its funds, primarily its real estate funds, whereby the distributions received have not yet met the recognition threshold of it being probable that a significant reversal of cumulative revenue will not occur. A liability for unearned management fees is generally recognized when management fees are paid to Sculptor on a quarterly basis in advance, based on the amount of AUM at the beginning of the quarter.