Revenues and Business Information

12 Months Ended

Dec. 31, 2023

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. No client accounted for more than 10% of revenues for the years ended December 31, 2023, 2022 and 2021.

	Year Ended December 31,
	2023		2022		2021
Revenues:
United States	$	675,735	$	773,869	$	1,312,792
Europe		111,786		131,016		157,158
Rest of World		67,227		80,412		70,661
Total	$	854,748	$	985,297	$	1,540,611

	December 31,		December 31,
	2023		2022
Assets:
United States	$	985,592	$	994,339
Europe		74,832		92,340
Rest of World		119,335		130,190
Total	$	1,179,759	$	1,216,869

As of December 31, 2023, and December 31, 2022, the Company had deferred revenues of $4,649 and $7,708, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the years ended December 31, 2023 and 2022, $7,598 and $4,533 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.