v3.26.1
Income Taxes and Related Payments (Tables)
6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Components of the provision for income taxes
Components of the provision for income taxes consist of the following:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
2026202520262025
Current:
Federal$11,846 $8,829 $17,824 $15,765 
State and local3,209 2,513 5,139 4,613 
Foreign179 193 368 348 
Total15,234 11,535 23,331 20,726 
Deferred:
Federal9,068 11,330 18,136 20,526 
State and local1,597 1,996 3,195 3,616 
Total10,665 13,326 21,331 24,142 
Income tax expense (benefit)$25,899 $24,861 $44,662 $44,868 
Schedule of Other Assets and Other Liabilities
The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the six months ended June 30, 2026, is summarized as follows:
Deferred Tax Asset - Amortizable BasisAmounts Payable Under TRAs
December 31, 2025$308,015 $303,368 
2026 Holdings Common Unit Exchanges
2,269 1,928 
Amortization(24,970)— 
Payments under TRAs— (30,322)
June 30, 2026$285,314 $274,974 
Components of deferred tax assets
Net deferred tax assets comprise the following:
As of June 30, 2026As of December 31, 2025
Deferred tax assets:
Amortizable basis (1)
$285,314 $308,015 
Other (2)
50,484 46,687 
Total deferred tax assets335,798 354,702 
Less: valuation allowance (3)
— — 
Net deferred tax assets$335,798 $354,702 
(1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements.
(2) Represents the net deferred tax assets associated with Artisan’s investment in Holdings, related primarily to incentive compensation plan deduction timing differences. These future tax benefits are not subject to the TRA agreements.
(3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.