Categorization of Investments and Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | Level 1 | | Level 2 | | Level 3 | | Total | Debt Securities Carried by EGL | $ | 471,016 | | | $ | — | | | $ | — | | | $ | 471,016 | | Other Debt and Equity Securities(1) | 437,538 | | | — | | | — | | | 437,538 | | Investment Funds | 148,673 | | | — | | | — | | | 148,673 | | | | | | | | | | | | | | | | | | Total Assets Measured At Fair Value | $ | 1,057,227 | | | $ | — | | | $ | — | | | $ | 1,057,227 | | | | | | | | | | | December 31, 2022 | | Level 1 | | Level 2 | | Level 3 | | Total | Debt Securities Carried by EGL | $ | 365,638 | | | $ | — | | | $ | — | | | $ | 365,638 | | Other Debt and Equity Securities(1) | 815,409 | | | — | | | — | | | 815,409 | | Investment Funds | 136,718 | | | — | | | — | | | 136,718 | | | | | | | | | | Total Assets Measured At Fair Value | $ | 1,317,765 | | | $ | — | | | $ | — | | | $ | 1,317,765 | |
(1)Includes $3,770 and $7,939 of treasury bills classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of September 30, 2023 and December 31, 2022, respectively.
|
Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value |
The carrying amount and estimated fair value of the Company's financial instrument assets and liabilities, which are not measured at fair value on the Unaudited Condensed Consolidated Statements of Financial Condition, are listed in the tables below. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | Carrying | | Estimated Fair Value | | Amount | | Level 1 | | Level 2 | | Level 3 | | Total | Financial Assets: | | | | | | | | | | Cash and Cash Equivalents | $ | 488,820 | | | $ | 488,820 | | | $ | — | | | $ | — | | | $ | 488,820 | | Certificates of Deposit | 84,163 | | | — | | | 84,163 | | | — | | | 84,163 | | | | | | | | | | | | | | | | | | | | | | Receivables(1) | 412,010 | | | — | | | 409,108 | | | — | | | 409,108 | | Contract Assets(2) | 50,462 | | | — | | | 49,896 | | | — | | | 49,896 | | | | | | | | | | | | | | | | | | | | | | Closely-held Equity Securities | 609 | | | — | | | — | | | 609 | | | 609 | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | Accounts Payable and Accrued Expenses | $ | 28,964 | | | $ | — | | | $ | 28,964 | | | $ | — | | | $ | 28,964 | | | | | | | | | | | | Payable to Employees and Related Parties | 32,127 | | | — | | | 32,127 | | | — | | | 32,127 | | | | | | | | | | | | Notes Payable | 372,419 | | | — | | | 343,179 | | | — | | | 343,179 | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | Carrying | | Estimated Fair Value | | Amount | | Level 1 | | Level 2 | | Level 3 | | Total | Financial Assets: | | | | | | | | | | Cash and Cash Equivalents | $ | 655,461 | | | $ | 655,461 | | | $ | — | | | $ | — | | | $ | 655,461 | | Certificates of Deposit | 122,890 | | | — | | | 122,890 | | | — | | | 122,890 | | | | | | | | | | | | | | | | | | | | | | Receivables(1) | 449,270 | | | — | | | 447,051 | | | — | | | 447,051 | | Contract Assets(2) | 118,496 | | | — | | | 117,701 | | | — | | | 117,701 | | | | | | | | | | | | | | | | | | | | | | Closely-held Equity Securities | 604 | | | — | | | — | | | 604 | | | 604 | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | Accounts Payable and Accrued Expenses | $ | 28,807 | | | $ | — | | | $ | 28,807 | | | $ | — | | | $ | 28,807 | | | | | | | | | | | | Payable to Employees and Related Parties | 41,235 | | | — | | | 41,235 | | | — | | | 41,235 | | Notes Payable | 371,774 | | | — | | | 349,955 | | | — | | | 349,955 | | | | | | | | | | | |
(1)Includes Accounts Receivable, as well as long-term receivables, which are included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition. (2)Includes current and long-term contract assets included in Other Current Assets and Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
|