The Company’s activities as an investment banking advisory firm constitute a single business segment offering clients, including corporations, governments 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. No client accounted for more than 10% of revenues for the years ended December 31, 2018, 2017 and 2016.

	Year Ended December 31,
	2018		2017		2016
Revenues:
United States	$	731,265	$	535,985	$	516,688
Europe		95,844		111,088		54,332
Rest of World		58,731		37,542		42,353
Total	$	885,840	$	684,615	$	613,373

	December 31,		December 31,
	2018		2017
Assets:
United States	$	756,053	$	519,933
Europe		55,064		83,834
Rest of World		103,258		95,301
Total	$	914,375	$	699,068

As of December 31, 2018, and December 31, 2017, the Company had deferred revenues of $7,074 and $4,948, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the year ended December 31, 2018, $4,948 of revenues were recognized from the opening balance of deferred revenues.

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. In accordance with ASC 606-10-50-14A, quantitative disclosures of constrained variable consideration are not provided for remaining performance obligations. In addition, remaining performance obligations related to retainers, upfront fees and announcement fees are typically associated with contracts that have durations of one year or less. In accordance with ASC 606-10-50-14, the Company does not disclose the expected timing and amount of revenues remaining related to such contracts.