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INCENTIVE PLANS (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Impact of Share-Based Incentive Plans on Compensation and Benefits Expense
The following reflects the expense with respect to share-based incentive plans, which is primarily recorded within “compensation and benefits” expense in the Company’s accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2024 and 2023:
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Share-based incentive awards:
RSUs$67,419 $61,972 $128,539 $112,655 
PRSUs314 562 719 1,351 
PIPRs21,614 18,200 30,287 37,262 
Total$89,347 $80,734 $159,545 $151,268 
Schedule 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 six month period ended June 30, 2024:
Prepaid
Compensation
Asset
Compensation
Liability
Balance, January 1, 2024$115,972 $365,420 
Granted40,227 40,227 
Settled– (137,682)
Amortization and the impact of forfeitures(62,348)(4,243)
Change in fair value of underlying investments– 8,172 
Other(77)(1,677)
Balance, June 30, 2024$93,774 $270,217 
The following is a summary of the impact of LFI and other similar deferred compensation arrangements on “compensation and benefits” expense within the accompanying condensed consolidated statements of operations for the three month and six month periods ended June 30, 2024 and 2023:
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Amortization and the impact of forfeitures$22,406 $57,558 $58,105 $92,086 
Change in the fair value of underlying investments(1,201)9,675 8,172 26,128 
Total$21,205 $67,233 $66,277 $118,214 
Restricted Stock Awards, PRSUs and DSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Activity Relating to Share-based Awards
The following is a summary of activity relating to RSUs and PRSUs during the six month period ended June 30, 2024:
RSUsPRSUs
UnitsWeighted
Average
Grant Date
Fair Value
UnitsWeighted
Average
Grant Date
Fair Value
Balance, January 1, 202412,633,027$36.16 125,465$41.07 
Granted (including 443,272 RSUs relating to dividend participation)
8,351,633$38.70 $– 
Forfeited(718,942)$36.22 $– 
Settled(3,730,998)$38.64 (63,169)$46.63 
Balance, June 30, 202416,534,720$36.88 62,296$35.44 
PIPRs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Activity Relating to Share-based Awards
The following is a summary of activity relating to all PIPRs during the six month period ended June 30, 2024:
Ordinary PIPRs (a)P-PIPRsSP-PIPRs
UnitsWeighted
Average
Grant Date
Fair Value
UnitsWeighted
Average
Grant Date
Fair Value
UnitsWeighted
Average
Grant Date
Fair Value
Balance, January 1, 20242,640,769$36.19 1,958,829$41.12 2,250,000$15.06 
Granted1,368,964$38.26 $– $– 
Forfeited(61,878)$35.85 $– $– 
Settled(601,433)$43.23 (995,169)$46.63 $– 
Balance, June 30, 20243,346,422$35.78 963,660$35.44 2,250,000$15.06 
__________________________
(a)Includes PIPR awards with only service-based vesting conditions.