v3.23.3
Segment Operating Results (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Information Regarding Operations By Segment
The following information presents each segment's contribution.
 For the Three Months Ended September 30, For the Nine Months Ended September 30,
 2023202220232022
Investment Banking & Equities
Net Revenues(1)
$552,641 $560,518 $1,589,698 $1,880,069 
Operating Expenses479,429 433,599 1,356,853 1,404,711 
Other Expenses— — 2,921 532 
Operating Income73,212 126,919 229,924 474,826 
Income from Equity Method Investments180 451 394 989 
Pre-Tax Income $73,392 $127,370 $230,318 $475,815 
Identifiable Segment Assets$3,068,495 $2,986,364 $3,068,495 $2,986,364 
Investment Management
Net Revenues(1)
$17,579 $16,419 $52,084 $50,639 
Operating Expenses13,965 12,939 40,562 39,520 
Operating Income3,614 3,480 11,522 11,119 
Income from Equity Method Investments1,484 1,576 4,280 5,824 
Pre-Tax Income$5,098 $5,056 $15,802 $16,943 
Identifiable Segment Assets$157,303 $164,905 $157,303 $164,905 
Total
Net Revenues(1)
$570,220 $576,937 $1,641,782 $1,930,708 
Operating Expenses493,394 446,538 1,397,415 1,444,231 
Other Expenses— — 2,921 532 
Operating Income76,826 130,399 241,446 485,945 
Income from Equity Method Investments1,664 2,027 4,674 6,813 
Pre-Tax Income$78,490 $132,426 $246,120 $492,758 
Identifiable Segment Assets$3,225,798 $3,151,269 $3,225,798 $3,151,269 
(1)Net Revenues include Other Revenue, net, allocated to the segments as follows:
 For the Three Months Ended September 30, For the Nine Months Ended September 30,
 2023202220232022
Investment Banking & Equities(A)
$5,729 $(5,603)$46,472 $(40,066)
Investment Management275 778 2,247 1,915 
Total Other Revenue, net$6,004 $(4,825)$48,719 $(38,151)
(A)Other Revenue, net, from the Investment Banking & Equities segment includes interest expense on the Notes Payable and lines of credit of $4,184 and $12,536 for the three and nine months ended September 30, 2023, respectively, and $4,188 and $12,696 for the three and nine months ended September 30, 2022, respectively.
Revenues Derived from Clients by Geographical Areas
The Company's revenues were derived from clients located and managed in the following geographical areas:
 For the Three Months Ended September 30, For the Nine Months Ended September 30,
 2023202220232022
Net Revenues:(1)
United States$417,553 $374,571 $1,156,979 $1,408,491 
Europe and Other145,065 206,893 425,137 553,926 
Latin America1,598 298 10,947 6,442 
Total$564,216 $581,762 $1,593,063 $1,968,859 
(1)Excludes Other Revenue, Including Interest and Investments, and Interest Expense.
Assets by Geographic Areas
The Company's total assets are located in the following geographical areas:
September 30, 2023December 31, 2022
Total Assets:
United States$2,777,971 $2,902,153 
Europe and Other447,827 718,770 
Total$3,225,798 $3,620,923