Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Income Taxes

The Company’s pretax income is associated with activities in domestic and international jurisdictions, as follows:

	Year Ended December 31,
	2023			2022			2021
Income Before Provision for Taxes
Domestic	$	181,815		$	237,635		$	235,453
International		(4,206	)		(36,164	)		(16,004	)
Total	$	177,609		$	201,471		$	219,449

Summary of Income Tax Expense

The Provision for Income Taxes consists of the following:

	Year Ended December 31,
	2023			2022		2021
Current
Federal Income Tax	$	22,907		$	22,492	$	13,673
State and Local Income Tax		7,478			10,664		6,096
Foreign Income Tax		3,471			1,759		2,629
		33,856			34,915		22,398
Deferred
Federal Income Tax		(3,550	)		534		6,742
State and Local Income Tax		1,599			1,151		345
Foreign Income Tax		22			99		9
		(1,929	)		1,784		7,096
Provision for Taxes	$	31,927		$	36,699	$	29,494

Summary of Company's Tax Position

The following table summarizes the Company’s tax position:

	Year Ended December 31,
	2023			2022			2021
Income Before Provision for Taxes	$	177,609		$	201,471		$	219,449
Provision for Taxes	$	31,927		$	36,699		$	29,494
Effective Income Tax Rate		18.0	%		18.2	%		13.4	%

U.S Federal Statutory Tax Rate Reconciliation to the Effective Income Tax Rate

The following table reconciles the U.S. federal statutory tax rate to the effective income tax rate:

	Year Ended December 31,
	2023			2022			2021
Expected Income Tax Expense at the    Federal Statutory Rate		21.0	%		21.0	%		21.0	%
Permanent Differences for Compensation		-0.4	%		-0.8	%		-2.2	%
Income Not Subject to    U.S. Corporate Income Taxes		-8.4	%		-8.3	%		-8.7	%
Foreign Income Taxes		1.1	%		0.8	%		1.2	%
State and Local Income Taxes, Net of    Federal Benefit		3.5	%		3.9	%		2.5	%
Return to Provision		0.0	%		0.8	%		-0.1	%
Rate Change Impact		0.8	%		0.3	%		-0.5	%
Other		0.4	%		0.5	%		0.2	%
Effective Income Tax Rate		18.0	%		18.2	%		13.4	%

Summary of the Tax Effects of Temporary Differences

A summary of the tax effects of the temporary differences is as follows:

	December 31,
	2023		2022
Deferred Tax Assets
Operating Lease Liabilities	$	43,835	$	16,459
Tax Basis Step-Up from Blackstone		7,515		11,252
Deferred Compensation		33,573		24,835
Partner Exchange Basis Step-Up		36,740		38,966
Other		4,769		2,427
Total Deferred Tax Assets	$	126,432	$	93,939
Deferred Tax Liabilities
Operating Lease Right-of-Use Assets	$	42,110	$	14,398
Intangible Assets		2,674		2,071
Fixed Assets		303		857
Other		8,885		7,441
Total Deferred Tax Liabilities		53,972		24,767
Deferred Tax Asset, Net	$	72,460	$	69,172