Revenues and Business Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Revenues and Business Information

14. REVENUES AND BUSINESS INFORMATION

The Company’s activities as an investment banking advisory firm constitute a single business segment offering clients, including corporations, governments, sovereign wealth funds, and financial sponsors, a range of advisory services with expertise across all major industries in mergers and acquisitions, recapitalizations and restructurings, capital markets and other corporate finance matters.

Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the enterprise taken as whole, not by geographic region. The following table disaggregates the revenues and assets based on the location of the office that generates the revenues or holds the assets, and therefore may not be reflective of the geography in which our clients are located.

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenues:
United States	$	308,271	$	138,382	$	514,523	$	267,567
Europe		29,266		15,124		72,982		31,380
Rest of World		23,370		6,432		37,268		14,697
Total	$	360,907	$	159,938	$	624,773	$	313,644

	June 30,		December 31,
	2021		2020
Assets:
United States	$	947,791	$	1,012,831
Europe		68,040		78,470
Rest of World		92,183		105,143
Total	$	1,108,014	$	1,196,444

As of June 30, 2021, and December 31, 2020, the Company had deferred revenues of $11,586 and $2,692, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the six months ended June 30, 2021 and 2020, $2,190 and $1,662 of revenues were recognized from the opening balance of deferred revenues, respectively.

Due to the factors that may delay or terminate a transaction (see Note 2), the Company does not estimate constrained transaction fees for revenue recognition. Quantitative disclosures of constrained variable consideration are not provided for remaining, wholly unsatisfied, performance obligations. The remaining performance obligations related to retainers, upfront fees and announcement fees are typically associated with contracts that have durations of one year or less.