Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense

The following reflects the amortization expense recorded with respect to share-based incentive plans within “compensation and benefits” expense (with respect to RSUs, PRSUs, RSAs and profits interest participation rights, including PRPUs) and “professional services” expense (with respect to DSUs) within the Company’s accompanying consolidated statements of operations:

	Year Ended December 31,
	2022		2021		2020
Share-based incentive awards:
RSUs	$	125,664	$	124,895	$	140,556
PRSUs		2,011		6,136		6,264
RSAs		23,923		17,765		27,976
Profits interest participation rights		86,810		83,046		41,293
DSUs		2,233		2,116		2,360
Total	$	240,641	$	233,958	$	218,449

Summary of LFI and Other Similar Deferred Compensation Arrangements

The following is a summary of activity relating to LFI and other similar deferred compensation arrangements during the year ended December 31, 2022:

	Prepaid Compensation Asset			Compensation Liability
Balance, January 1, 2022	$	108,049		$	358,877
Granted		167,654			167,654
Settled		-			(145,666	)
Forfeited		(5,033	)		(16,894	)
Amortization		(158,483	)		-
Change in fair value related to:
Change in fair value of underlying    investments		-			(44,261	)
Adjustment for estimated forfeitures		-			8,256
Other		(63	)		(1,684	)
Balance, December 31, 2022	$	112,124		$	326,282

The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020:

	Year Ended December 31,
	2022			2021		2020
Amortization, net of forfeitures	$	154,878		$	151,604	$	119,441
Change in the fair value of underlying investments		(44,261	)		35,494		40,634
Total	$	110,617		$	187,098	$	160,075

Restricted Stock Units and Deferred Stock Units [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to RSUs and DSUs for the year ended December 31, 2022:

	RSUs					DSUs
	Units			Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Balance, January 1, 2022		8,150,782		$	41.16		338,408	$	38.01
Granted (including 455,287 RSUs relating to    dividend participation)		5,329,456		$	33.73		62,412	$	35.78
Forfeited		(310,646	)	$	39.16		-	$	-
Settled		(4,146,675	)	$	38.71		-	$	-
Balance, December 31, 2022		9,022,917		$	37.97		400,820	$	37.66

Restricted Stock Awards Class A [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity related to RSAs associated with compensation arrangements during the year ended December 31, 2022:

	RSAs			Weighted Average Grant Date Fair Value
Balance, January 1, 2022		871,227		$	41.24
Granted (including 67,261 relating to dividend participation)		1,064,296		$	33.37
Forfeited		(81,178	)	$	37.69
Settled		(587,921	)	$	36.63
Balance, December 31, 2022		1,266,424		$	36.99

PRSUs [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to PRSUs during the year ended December 31, 2022:

	PRSUs		Weighted Average Grant Date Fair Value
Balance, January 1, 2022		32,394	$	46.63
Granted		62,296	$	35.44
Balance, December 31, 2022		94,690	$	39.27

Profits Interest Participation Rights [Member]

Schedule of Activity Relating to Share-based Awards

The following is a summary of activity relating to profits interest participation rights, including PRPUs, during the year ended December 31, 2022:

	Profits Interest Participation Rights			Weighted Average Grant Date Fair Value
Balance, January 1, 2022		4,122,993		$	41.50
Granted		1,521,103		$	34.53
Forfeited		(96,323	)	$	38.92
Settled		(1,902,756	)	$	38.76
Performance units earned (a)		486,611		$	40.64
Balance, December 31, 2022 (b)		4,131,628		$	40.15

(a) Represents shares of common stock earned during the fiscal year under the performance criteria of previously-granted PRPU awards in excess of the target payout levels of such awards.

(b) Table includes 2,447,224 PRPUs, which represents the target number of PRPUs granted and performance units earned, net of settlements as of December 31, 2022, including 2,001,174 PRPUs as of January 1, 2022 and 963,660 PRPUs granted and 486,611 performance units earned, net of 1,004,221 PRPUs settled during the year ended December 31, 2022. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of January 1, 2022 were $41.82 and $41.20, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights granted during the year ended December 31, 2022 were $35.44 and $32.95, respectively. The weighted average grant date fair values for other profits interest participation rights forfeited during the year ended December 31, 2022 were $38.92. The weighted average grant date fair values for PRPUs and other profits interest participation rights settled during the year ended December 31, 2022 were $38.86 and $38.65, respectively. The weighted average grant date fair values for PRPUs and other profits interest participation rights outstanding as of December 31, 2022 were $40.29 and $39.96, respectively.