The Company’s activities as an investment banking advisory firm constitute a single business segment offering clients, including corporations, governments, sovereign wealth funds, 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.

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Revenues:
United States	$	138,382	$	132,246	$	267,567	$	254,926
Europe		15,124		16,005		31,380		22,721
Rest of World		6,432		5,272		14,697		13,659
Total	$	159,938	$	153,523	$	313,644	$	291,306

	June 30,		December 31,
	2020		2019
Assets:
United States	$	881,086	$	934,654
Europe		30,729		67,247
Rest of World		62,129		69,798
Total	$	973,944	$	1,071,699

As of June 30, 2020, and December 31, 2019, the Company had deferred revenues of $4,664 and $3,023, respectively. These amounts primarily consist of upfront fees and retainers for our services. During the six months ended June 30, 2020, $1,662 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. Quantitative disclosures of constrained variable consideration are not provided for remaining, wholly unsatisfied, performance obligations. These remaining performance obligations related to retainers, upfront fees and announcement fees are typically associated with contracts that have durations of one year or less.