Income Taxes	3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	14. INCOME TAXES The Company’s operations are comprised of entities that are organized as limited liability companies and limited partnerships. For U.S. federal income tax purposes, taxes related to income earned by these entities represent obligations of their interest holders, except for the New York City unincorporated business tax (“UBT”) and certain other foreign, state, and local taxes. In connection with the Company’s reorganization and IPO, the Company became subject to U.S. corporate federal, state, and local income tax on its allocable share of results of operations from Group LP. The Company’s provision for income taxes and effective tax rate were a benefit of $4,458 and (38%) and an expense of $2,563 and 5% for the three months ended March 31, 2019 and 2018, respectively. The income tax provision for the aforementioned periods primarily reflects the Company’s allocable share of earnings from Group LP at the prevailing U.S. federal, state, and local corporate income tax rates and the effect of the excess tax benefit recognized in connection with the delivery of equity-based compensation at an appreciated price above the grant date price for such equity. The excess tax benefits for the three months ended March 31, 2019 and 2018 were $6,822 and $7,418, respectively. The Company recorded a decrease in the net deferred tax asset of $10,410 for the three months ended March 31, 2019, which was primarily attributable to the vesting and delivery of equity-based awards, partially offset by an increase in the deferred tax asset from the equity award amortization expense in the current period.

Income Taxes

3 Months Ended

Mar. 31, 2019

14. INCOME TAXES

The Company’s operations are comprised of entities that are organized as limited liability companies and limited partnerships. For U.S. federal income tax purposes, taxes related to income earned by these entities represent obligations of their interest holders, except for the New York City unincorporated business tax (“UBT”) and certain other foreign, state, and local taxes. In connection with the Company’s reorganization and IPO, the Company became subject to U.S. corporate federal, state, and local income tax on its allocable share of results of operations from Group LP.

The Company’s provision for income taxes and effective tax rate were a benefit of $4,458 and (38%) and an expense of $2,563 and 5% for the three months ended March 31, 2019 and 2018, respectively. The income tax provision for the aforementioned periods primarily reflects the Company’s allocable share of earnings from Group LP at the prevailing U.S. federal, state, and local corporate income tax rates and the effect of the excess tax benefit recognized in connection with the delivery of equity-based compensation at an appreciated price above the grant date price for such equity. The excess tax benefits for the three months ended March 31, 2019 and 2018 were $6,822 and $7,418, respectively.

The Company recorded a decrease in the net deferred tax asset of $10,410 for the three months ended March 31, 2019, which was primarily attributable to the vesting and delivery of equity-based awards, partially offset by an increase in the deferred tax asset from the equity award amortization expense in the current period.