Income Taxes and Related Payments (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Components of the provision for income taxes

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Current:
Federal	$	15,097	$	8,539	$	38,414	$	15,685
State and local	4,339		1,992		10,906		4,511
Foreign	152		97		406		261
Total	19,588		10,628		49,726		20,457
Deferred:
Federal	7,198		6,703		24,155		20,313
State and local	1,268		1,117		4,256		3,385
Total	8,466		7,820		28,411		23,698
Income tax expense (benefit)	$	28,054	$	18,448	$	78,137	$	44,155

Schedule of Other Assets and Other Liabilities

	Deferred Tax Asset - Amortizable Basis		Amounts Payable Under TRAs
December 31, 2020	$	446,954	$	412,468
2021 Follow-On Offering	16,362		13,908
2021 Holdings Common Unit Exchanges	11,360		9,656
Amortization	(29,378)		—
Payments under TRAs	—		(31,250)
Change in estimate	(9)		(358)
September 30, 2021	$	445,289	$	404,424

Components of deferred tax assets

	As of September 30, 2021		As of December 31, 2020
Deferred tax assets:
Amortizable basis (1)	$	445,289	$	446,954
Other (2)	36,919		35,107
Total deferred tax assets	482,208		482,061
Less: valuation allowance (3)	—		—
Net deferred tax assets	$	482,208	$	482,061
(1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements.
(2) Represents the net deferred tax assets associated with the merger described above and other miscellaneous deferred tax assets. These future tax benefits are not subject to the TRA agreements.
(3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.