Income Taxes	6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. 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. The Company is 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 $11,385 and 56% and expense of $1,234 and 3%, for the three months ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, the Company’s provision for income taxes were benefits of $18,729 and $3,224, compared with pre-tax operating income of $2,353 and $50,620, respectively. The Company’s provision for income taxes included tax benefits recognized in connection with the delivery of equity-based compensation of $67 and $6,745 for the three months ended June 30, 2020 and 2019, respectively, and $7,404 and $13,567 for the six months ended June 30, 2020 and 2019, respectively. In addition, the Company’s provision for the three and six months ended June 30, 2020 included benefits of $8,033 and $13,773, respectively, pursuant to certain tax provisions provided under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted in the United States on March 27, 2020. The CARES Act permits the Company to carry back net operating losses to offset taxable income generated in the five preceding years, some of which were taxed at a federal income tax rate higher than the current enacted rate. The Company has recorded an income tax receivable of $32,949 within deferred tax asset and income tax receivable on the condensed consolidated statement of financial condition related to the operating losses. As some of the calculated tax benefits relate to deductions subject to the Company’s Tax Receivable Agreement, the Company’s liability pursuant to the Tax Receivable Agreement was also re-measured and the estimated impact was recorded within other income and expenses on the condensed consolidated statement of operations.

Income Taxes

6 Months Ended

Jun. 30, 2020

13. 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. The Company is 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 $11,385 and 56% and expense of $1,234 and 3%, for the three months ended June 30, 2020 and 2019, respectively. For the six months ended June 30, 2020 and 2019, the Company’s provision for income taxes were benefits of $18,729 and $3,224, compared with pre-tax operating income of $2,353 and $50,620, respectively. The Company’s provision for income taxes included tax benefits recognized in connection with the delivery of equity-based compensation of $67 and $6,745 for the three months ended June 30, 2020 and 2019, respectively, and $7,404 and $13,567 for the six months ended June 30, 2020 and 2019, respectively. In addition, the Company’s provision for the three and six months ended June 30, 2020 included benefits of $8,033 and $13,773, respectively, pursuant to certain tax provisions provided under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted in the United States on March 27, 2020. The CARES Act permits the Company to carry back net operating losses to offset taxable income generated in the five preceding years, some of which were taxed at a federal income tax rate higher than the current enacted rate. The Company has recorded an income tax receivable of $32,949 within deferred tax asset and income tax receivable on the condensed consolidated statement of financial condition related to the operating losses. As some of the calculated tax benefits relate to deductions subject to the Company’s Tax Receivable Agreement, the Company’s liability pursuant to the Tax Receivable Agreement was also re-measured and the estimated impact was recorded within other income and expenses on the condensed consolidated statement of operations.