v3.25.2
SEGMENT INFORMATION - Select Financial Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Net Revenue (Loss) $ 795,997 $ 685,349 $ 1,444,048 $ 1,450,102
Adjusted Compensation and Benefits Expense 504,263 451,864 925,549 944,597
Adjusted Non-compensation Expense 157,371 148,612 305,253 282,905
Other Segment Items (26,131) (707) (30,997) (18,895)
Adjusted Operating Income (Loss) 108,232 84,166 182,249 203,705
Interest income (included in net revenue) 9,207 12,854 20,869 24,325
Depreciation and amortization of property (included in adjusted non-compensation expense) 8,613 9,204 17,044 18,293
Financial Advisory        
Segment Reporting Information [Line Items]        
Net Revenue (Loss) 497,306 411,308 864,665 864,815
Adjusted Compensation and Benefits Expense 317,036 275,324 557,004 577,404
Adjusted Non-compensation Expense 52,426 51,112 104,987 98,977
Other Segment Items (5,947) (3,372) (3,763) (10,245)
Adjusted Operating Income (Loss) 121,897 81,500 198,911 178,189
Interest income (included in net revenue) 1,903 1,310 3,100 2,276
Depreciation and amortization of property (included in adjusted non-compensation expense) 2,165 2,166 4,175 4,415
Asset Management        
Segment Reporting Information [Line Items]        
Net Revenue (Loss) 292,478 285,487 580,578 580,963
Adjusted Compensation and Benefits Expense 139,655 134,318 282,482 285,016
Adjusted Non-compensation Expense 63,597 55,687 122,808 111,262
Other Segment Items (23,987) (20,268) (47,593) (39,810)
Adjusted Operating Income (Loss) 65,239 75,214 127,695 144,875
Interest income (included in net revenue) 2,136 3,809 4,583 7,520
Depreciation and amortization of property (included in adjusted non-compensation expense) 1,407 1,392 2,788 2,681
Corporate        
Segment Reporting Information [Line Items]        
Net Revenue (Loss) 6,213 (11,446) (1,195) 4,324
Adjusted Compensation and Benefits Expense 47,572 42,222 86,063 82,177
Adjusted Non-compensation Expense 41,348 41,813 77,458 72,666
Other Segment Items 3,803 22,933 20,359 31,160
Adjusted Operating Income (Loss) (78,904) (72,548) (144,357) (119,359)
Interest income (included in net revenue) 5,168 7,735 13,186 14,529
Depreciation and amortization of property (included in adjusted non-compensation expense) $ 5,041 $ 5,646 $ 10,081 $ 11,197