The Company conducted firm-wide cost-saving initiatives over the course of 2023 and during the first quarter of 2024.

Expenses and losses associated with the cost-saving initiatives for the three month periods ended March 31, 2024 and 2023 consisted of the following:


	Three Months Ended March 31, 2024
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee termination expenses (included in "compensation and benefits" expense)	$	32,773	$	11,545	$	2,292	$	46,610
Other	708		14		1,397		2,119
Total	$	33,481	$	11,559	$	3,689	$	48,729



	Three Months Ended March 31, 2023
	Financial Advisory		Asset Management		Corporate		Total
Severance and other employee termination expenses (included in "compensation and benefits" expense)	$	8,777	$	11,235	$	728	$	20,740
Total	$	8,777	$	11,235	$	728	$	20,740

Activity related to the obligations pursuant to the cost-saving initiatives during the three month period ended March 31, 2024 was as follows:


	Accrued Compensation and Benefits		Other		Total
Balance, January 1, 2024	$	51,346	$	952	$	52,298
Total expenses	46,610		2,119		48,729
Less:
Noncash expenses (a)	9,111		2,999		12,110
Payments and settlements	52,349		16		52,365
Balance, March 31, 2024	$	36,496	$	56	$	36,552

(a)Noncash expenses reflected in “accrued compensation and benefits” activity principally represents accelerated amortization of deferred incentive compensation awards. Noncash expenses reflected in “other” activity principally relates to impairments of certain operating lease right-of-use assets and certain foreign exchange related losses.