Revenues and Business Information

6 Months Ended

Jun. 30, 2022

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, financial sponsors, governments and sovereign wealth funds, 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,
	2022		2021		2022		2021
Revenues:
United States	$	188,998	$	308,271	$	437,324	$	514,523
Europe		35,909		29,266		81,287		72,982
Rest of World		17,613		23,370		25,997		37,268
Total	$	242,520	$	360,907	$	544,608	$	624,773

	June 30,		December 31,
	2022		2021
Assets:
United States	$	955,231	$	1,356,193
Europe		72,846		92,605
Rest of World		88,397		106,883
Total	$	1,116,474	$	1,555,681

As of June 30, 2022, and December 31, 2021, the Company had deferred revenues of $6,826 and $4,539, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the six months ended June 30, 2022 and 2021, $4,278 and $2,190 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.