2023 Q3 Form 10-Q Financial Statement

#000140325623000116 Filed on November 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $159.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $17.77M
YoY Change -32.23%
Goodwill $22.69M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $87.03M
YoY Change -6.82%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.346B
YoY Change -15.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $966.9M
YoY Change -1.03%
SHAREHOLDERS EQUITY
Retained Earnings -$309.6M
YoY Change 11.64%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$47.37M
YoY Change
Total Liabilities & Shareholders Equity $1.346B
YoY Change -15.19%

Cashflow Statement

Concept 2023 Q3

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Amendment Flag
AmendmentFlag
false
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-33805
dei Entity Registrant Name
EntityRegistrantName
SCULPTOR CAPITAL MANAGEMENT, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Security12b Title
Security12bTitle
Class A Shares
dei Trading Symbol
TradingSymbol
SCU
dei Security Exchange Name
SecurityExchangeName
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Small Business
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false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
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ORGANIZATION<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">Sculptor Capital Management, Inc. (the “Registrant”), a Delaware corporation, together with its consolidated subsidiaries (collectively, the “Company” or “Sculptor Capital”), is a leading global alternative asset manager and a specialist in opportunistic investing with offices in New York, London, Hong Kong and Shanghai. The Company provides asset management services and investment products across Credit, Real Estate, and Multi-Strategy. The Company serves its global client base through commingled funds, separate accounts and specialized products (collectively, the “funds”). The Company’s model is driven by a global team that is predominantly home-grown, long tenured and incentivized to put client outcomes first. The Company’s capabilities span all major geographies and asset classes, including corporate credit, structured credit, real estate debt and equity, fundamental equities, merger arbitrage, and convertible and derivative arbitrage.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Company manages dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds, multi-strategy funds, and other alternative investment vehicles. Through Institutional Credit Strategies, the Company’s asset management platform that invests in performing credits, the Company manages collateralized loan obligations (“CLOs”), aircraft securitization vehicles, collateralized bond obligations (“CBOs”), structured alternative investment solutions, commingled products and other customized solutions for clients.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s primary sources of revenues are management fees, which are generally based on the amount of the Company’s assets under management (“Assets Under Management” or “AUM”), as defined below, and incentive income, which is based on the investment performance of its funds. Accordingly, for any given period, the Company’s revenues will be driven by the combination of Assets Under Management and the investment performance of the funds. AUM refers to the assets of the funds to which the Company provides investment management and advisory services. The Company’s AUM are a function of the capital that is allocated to it by the investors in its funds and the investment performance of its funds.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts its business and generates substantially all of its revenues primarily in the United States (the “U.S.”) through one operating and reportable segment. The single reportable segment reflects how the Company’s chief operating decision makers allocate resources, make operating decisions and assess financial performance on a consolidated basis under the Company’s ‘one-firm approach’, which includes operating collaboratively across business lines, with predominantly a single expense pool. The Company conducts its operations through Sculptor Capital LP, Sculptor Capital Advisors LP and Sculptor Capital Advisors II LP (collectively, the “Sculptor Operating Partnerships” and collectively with their consolidated subsidiaries, the “Sculptor Operating Group”). The Registrant holds its interests in the Sculptor Operating Group indirectly through Sculptor Capital Holding Corporation (“Sculptor Corp”), a wholly owned subsidiary of the Registrant.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">References to the Company’s “executive managing directors” include the current executive managing directors of the Company, and, except where the context requires otherwise, also include certain former executive managing directors who are no longer active in the Company’s business.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:112%">On July 23, 2023, the Company entered into an Agreement and Plan of Merger, as amended on October 12, 2023 by Amendment No. 1 to Agreement and Plan of Merger, as further amended on October 26, 2023 by Amendment No. 2 to Agreement and Plan of Merger, with Rithm Capital Corp. and certain of its affiliates. Refer to Note 17 for details of the proposed transaction with Rithm Capital Corp. </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%">Company Structure </span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Registrant is a holding company that, through Sculptor Corp, holds equity ownership interests in the Sculptor Operating Group. The Registrant had issued and outstanding the following share classes:</span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Class A Shares</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Class A Shares are publicly traded and entitle the holders thereof to one vote per share on matters submitted to a vote of shareholders. The holders of Class A Shares are entitled to any distributions declared </span></div><div style="margin-top:12pt;padding-left:54pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">on the Class A Shares by the Registrant’s board of directors (the “Board of Directors” or the “Board”) (other than RSAs, where entitlement to distributions may be subject to limitations and conditions).</span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Class B Shares</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Class B Shares are held by executive managing directors, as further discussed below. These shares are not publicly traded but rather entitle the executive managing directors to one vote per share on matters submitted to a vote of shareholders. These shares do not participate in the earnings of the Registrant, as the executive managing directors participate in the related economics of the Sculptor Operating Group through their direct ownership in the Sculptor Operating Group, subject to the Distribution Holiday discussed below.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Company conducts its operations through the Sculptor Operating Group. The following is a list of the outstanding units of the Sculptor Operating Partnerships as of September 30, 2023:</span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Group A Units</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Group A Units are limited partner interests issued to certain executive managing directors. In connection with the Recapitalization, as defined below, the Sculptor Operating Partnerships initiated a distribution holiday (the “Distribution Holiday”). Holders of Group A Units do not receive distributions on such units during the Distribution Holiday. Each executive managing director may exchange his or her vested and booked-up (as defined below) Group A Units for an equal number of Class A Shares (or the cash equivalent thereof) over a period of two years in three equal installments commencing upon the final day of the Distribution Holiday and on each of the first and second anniversary thereof (or, for units that become vested and booked-up Group A Units after the final day of the Distribution Holiday, from the later of the date on which they would have been exchangeable in accordance with the foregoing and the date on which they become vested and booked-up Group A Units) (and thereafter such units will remain exchangeable), in each case, subject to certain restrictions. A “book-up” is achieved when sufficient appreciation has occurred to meet a prescribed capital account book-up target under the terms of the Sculptor Operating Partnership limited partnership agreements.</span></div><div style="margin-top:12pt;padding-left:54pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">Group A Unit grants are accounted for as equity-based compensation. See Note 3 and Note 13 in the Company's Annual Report for additional information. The Company completed a recapitalization in February 2019 (“Recapitalization”). In connection with the Recapitalization, each Group A Unit outstanding on the Recapitalization date was recapitalized into 0.65 Group A Units and 0.35 Group A-1 Units. </span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Group A-1 Units</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Group A-1 Units are limited partner interests into which 0.35 of each Group A Unit was recapitalized in connection with the reallocation that was effectuated by the Recapitalization. The Group A-1 Units will be canceled at such time and to the extent that the Group E Units granted in connection with the Recapitalization vest and achieve a book-up. Group A-1 Units are not eligible to receive distributions at any time and do not participate in the net income (loss) of the Sculptor Operating Group. However, the holders of Group A-1 Units shall participate in any sale, change of control or other liquidity event that takes place prior to cancellation of the Group A-1 Units. In the Recapitalization, the holders of the 2016 Preferred Units, as defined below, forfeited an additional 749,813 Group A Units, which were recapitalized into Group A-1 Units.</span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Group B Units</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Sculptor Corp holds a general partner interest and Group B Units in each Sculptor Operating Partnership. Sculptor Corp owns all of the Group B Units, which represent equity interest in the Sculptor Operating Partnerships. Except during the Distribution Holiday as described above, the Group B Units are economically identical to the Group A Units held by executive managing directors but are not exchangeable for Class A Shares and are not subject to vesting, book-up, forfeiture or minimum retained ownership requirements. </span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Group E Units</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Group E Units are limited partner interests issued to certain executive managing directors that are only entitled to future profits and gains upon satisfaction of a certain performance condition. Each Group E Unit converts into a Group A Unit and becomes exchangeable for one Class A Share (or the cash equivalent thereof) to the extent there has been a sufficient amount of appreciation for a Group E Unit to achieve a book-up target and, subject to other conditions contained in the limited partnership agreements of the Sculptor Operating Partnerships, the Distribution Holiday has ended (or an earlier exchange date is established by the Exchange </span></div><div style="margin-top:12pt;padding-left:54pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">Committee, which consists of the Chief Executive Officer and the Chief Financial Officer of Sculptor Capital Management, Inc.). The Group E Units are entitled to share in residual assets upon liquidation, dissolution or winding up and become eligible to participate in any tag along right</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%"> in a change of control transaction or other liquidity event only to the extent of their relative positive capital accounts (if any). Holders of Group E Units do not receive distributions during the Distribution Holiday. Group E Unit grants are accounted for as equity-based compensation. See Note 3 and Note 13 in the Company’s Annual Report for additional details.</span></div><div style="margin-top:12pt;padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%">•</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Group P Units</span><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">—Group P Units are limited partner interests issued to certain executive managing directors that are only entitled to future profits and gains upon satisfaction of certain service and market conditions. Each Group P Unit becomes exchangeable for one Class A Share (or the cash equivalent thereof), in each case upon satisfaction of certain service and market conditions at such time and, with respect to exchanges, to the extent there has been sufficient appreciation for a Group P Unit to achieve a book-up target and, subject to other conditions contained in the limited partnership agreements of the Sculptor Operating Partnerships, the Distribution Holiday has ended (or an earlier exchange date is established by the Exchange Committee). The Group P Units are entitled to share in residual assets upon liquidation, dissolution or winding up and become eligible to participate in any tag along right, in a change of control transaction or other liquidity event only to the extent that certain market conditions are met and to the extent of their relative positive capital accounts (if any). The terms of the Group P Units may be varied for certain executive managing directors. Group P Unit grants are accounted for as equity-based compensation. See Note 3 and Note 13 in the Company’s Annual Report for additional information.</span></div><div style="margin-top:12pt;padding-left:18pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">Executive managing directors hold a number of Class B Shares equal to the number of Group A Units, vested Group E Units, Group A-1 Units (to the extent the corresponding Class B Shares have not been canceled in connection with the vesting of certain Group E Units issued in connection with the Recapitalization, as further discussed in Note 3 in the Company’s Annual Report), and Group P Units held. Upon the exchange of a Group A Unit or Group P Unit for a Class A Share, the corresponding Class B Share is canceled and a Group B Unit is issued to Sculptor Corp. Class B Shares that relate to Group A-1 Units will be voted pro rata in accordance with the vote of the Class A Shares.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the number of shares and units of the Company and the Sculptor Operating Partnerships, respectively, that were outstanding as of September 30, 2023:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:82.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.567%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:7.5pt;font-weight:700;line-height:100%">As of September 30, 2023</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:700;line-height:100%">Sculptor Capital Management, Inc.</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Class A Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">25,011,092</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Class B Shares</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">33,017,247</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Restricted Class A Shares (“RSAs”)</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">4,650,661</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Restricted Share Units (“RSUs”)</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">2,593,305 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Performance-based RSUs (“PSUs”)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">912,500 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Warrants to purchase Class A Shares (Note 7)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">4,338,015 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:700;line-height:100%">Sculptor Operating Partnerships</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Group A Units</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">15,025,994</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Group A-1 Units</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">9,244,477</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Group B Units</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">25,011,092</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Group E Units</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">13,020,157</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">Group P Units</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Garamond',serif;font-size:9pt;font-weight:400;line-height:100%">4,734,286</span></td></tr></table></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">The Company grants RSAs, RSUs and PSUs to its employees and executive managing directors as a form of compensation. These grants are accounted for as equity-based compensation. See Note 13 in the Company's Annual Report for additional information. In addition, the Company has 3,022,380 shares of treasury stock as of September 30, 2023.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Share Repurchase Program </span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:120%">In February 2022, the Company’s Board of Directors authorized the Company to repurchase up to $100.0 million of its outstanding common stock. The Company records its treasury stock repurchases at cost on a trade date basis. As of September 30, 2023, the Company repurchased 3,022,380 Class A Shares at a cost of $32.5 million for an average price of $10.75 per share through open market purchase transactions. No shares were purchased in the three months ended September 30, 2023. As of September 30, 2023, $67.5 million remained available for repurchase of the Company’s common stock under the share repurchase program. All of the repurchased shares are classified as treasury stock in the Company’s consolidated balance sheets. </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Garamond',serif;font-size:10pt;font-weight:400;line-height:112%">The repurchase program has no expiration date. On July 23, 2023, we entered into an Agreement and Plan of Merger, as amended on October 12, 2023 by Amendment No. 1 to Agreement and Plan of Merger, as further amended on October 26, 2023 by Amendment No. 2 to Agreement and Plan of Merger (including the schedules and exhibits thereto, the “Merger Agreement”) with entities affiliated with Rithm Capital Corp. The Company has not and will not repurchase any shares while the Merger Agreement remains in effect. See Note 17 to the unaudited consolidated financial statements for more information regarding the Merger Agreement.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
scu Distribution Holiday Period
DistributionHolidayPeriod
P2Y
scu Amount Of Installments
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3 installment
CY2019Q1 scu Ratioof Group A Units Recapitalizedas Group A Units
RatioofGroupAUnitsRecapitalizedasGroupAUnits
0.65
CY2019Q1 scu Ratioof Group A Units Recapitalizedas Group A1 Units
RatioofGroupAUnitsRecapitalizedasGroupA1Units
0.35
CY2019Q1 scu Ratioof Group A Units Recapitalizedas Group A1 Units
RatioofGroupAUnitsRecapitalizedasGroupA1Units
0.35
CY2019Q1 scu Numberof Group A Unitsforfeitedinconnectionwith Recapitalization
NumberofGroupAUnitsforfeitedinconnectionwithRecapitalization
749813 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
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4338015 shares
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
67500000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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-7349000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-9410000 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-23376000 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
-15837000 usd
CY2023Q3 us-gaap Minority Interest
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426530000 usd
CY2022Q4 us-gaap Minority Interest
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439479000 usd
CY2023Q3 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
79408000 usd
CY2022Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
24782000 usd
CY2023Q3 scu Investmentsin Clo Fair Value Disclosure
InvestmentsinCLOFairValueDisclosure
217543000 usd
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
87033000 usd
CY2023Q3 us-gaap Investments
Investments
383984000 usd
CY2023Q3 scu Investments Of Consolidated Entities
InvestmentsOfConsolidatedEntities
322516000 usd
us-gaap Cash Flows Between Transferee And Transferor Proceeds From New Transfers
CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers
0 usd
us-gaap Cash Flows Between Transferee And Transferor Proceeds From New Transfers
CashFlowsBetweenTransfereeAndTransferorProceedsFromNewTransfers
0 usd
CY2023Q3 scu Risk Retention Percentage
RiskRetentionPercentage
0.05
CY2023Q3 scu Risk Retention Percentage
RiskRetentionPercentage
0.05
CY2023Q3 us-gaap Interests Continued To Be Held By Transferor Fair Value
InterestsContinuedToBeHeldByTransferorFairValue
71300000 usd
CY2022Q4 us-gaap Interests Continued To Be Held By Transferor Fair Value
InterestsContinuedToBeHeldByTransferorFairValue
78600000 usd
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
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13200000 usd
us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables
2000000 usd
CY2023Q3 scu Unfunded Commitments From Employees To Vi Es
UnfundedCommitmentsFromEmployeesToVIEs
89700000 usd
CY2022Q4 scu Unfunded Commitments From Employees To Vi Es
UnfundedCommitmentsFromEmployeesToVIEs
65400000 usd
CY2023Q3 scu Leasecollateral
Leasecollateral
6200000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4825000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4628000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
14030000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
13992000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
66000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
75000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
51000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
113000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
222000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
296000 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
19000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
45000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
902000 usd
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
779000 usd
us-gaap Sublease Income
SubleaseIncome
2539000 usd
us-gaap Sublease Income
SubleaseIncome
2413000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
4011000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
4002000 usd
us-gaap Lease Cost
LeaseCost
11824000 usd
us-gaap Lease Cost
LeaseCost
11973000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
5311000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
5140000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
15764000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
15631000 usd
CY2023Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 usd
CY2022Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
6000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
6000 usd
CY2023Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
CY2022Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
155000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
223000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
318000 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1818000 usd
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1818000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1079000 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1016000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1016000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.078
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.079
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.079
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4786000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
17520000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
228000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14989000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
228000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15353000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
228000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17675000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
228000 usd
CY2023Q3 scu Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
35015000 usd
CY2023Q3 scu Financing Lease Liability To Be Paid After Year Four
FinancingLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
105338000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
912000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22170000 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
116000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
83168000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
796000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
904000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1920000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1920000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1920000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1960000 usd
CY2023Q3 scu Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
4160000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
12784000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1120000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
95000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
29800000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
125920000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
10434000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
115486000 usd
CY2020Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P10Y
CY2020Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.93
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
7.95
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
177503000 usd
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 usd
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
177503000 usd
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
173156000 usd
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
4347000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
166632000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
166632000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
157107000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
9525000 usd
CY2023Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
177503000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
166632000 usd
CY2023Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
47826000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
47736000 usd
CY2023Q3 scu Capitalized Computer Hardware And Software Gross
CapitalizedComputerHardwareAndSoftwareGross
44402000 usd
CY2022Q4 scu Capitalized Computer Hardware And Software Gross
CapitalizedComputerHardwareAndSoftwareGross
44603000 usd
CY2023Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
8013000 usd
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
8013000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
82475000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
79390000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17766000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20962000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
22691000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
22691000 usd
CY2023Q3 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized After Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAfterAccumulatedAmortization
13685000 usd
CY2022Q4 us-gaap Hosting Arrangement Service Contract Implementation Cost Capitalized After Accumulated Amortization
HostingArrangementServiceContractImplementationCostCapitalizedAfterAccumulatedAmortization
9940000 usd
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11440000 usd
CY2023Q3 scu Redemption Receivable
RedemptionReceivable
0 usd
CY2022Q4 scu Redemption Receivable
RedemptionReceivable
28721000 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
9842000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7430000 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
75424000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
106442000 usd
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
21468000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
20925000 usd
CY2023Q3 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
8250000 usd
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
8250000 usd
CY2023Q3 scu Due To Funds
DueToFunds
3391000 usd
CY2022Q4 scu Due To Funds
DueToFunds
3854000 usd
CY2023Q3 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
10069000 usd
CY2022Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
10020000 usd
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
43178000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
43049000 usd
CY2023Q3 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
26569000 usd
CY2022Q4 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
56360000 usd
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
40510000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
53869000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.0398
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.0578
us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
-0.1216
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0739
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0458
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.1811
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.0476
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.0008
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.0049
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.0474
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0102
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0053
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0273
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.0734
CY2023Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Amortization Of Partner Equity Units
EffectiveIncomeTaxRateReconciliationNondeductibleAmortizationOfPartnerEquityUnits
-0.0180
CY2022Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Amortization Of Partner Equity Units
EffectiveIncomeTaxRateReconciliationNondeductibleAmortizationOfPartnerEquityUnits
-0.0228
scu Effective Income Tax Rate Reconciliation Nondeductible Amortization Of Partner Equity Units
EffectiveIncomeTaxRateReconciliationNondeductibleAmortizationOfPartnerEquityUnits
-0.0588
CY2023Q3 scu Effective Income Tax Rate Reconciliation Tax Credit And Deductions
EffectiveIncomeTaxRateReconciliationTaxCreditAndDeductions
0.0155
CY2022Q3 scu Effective Income Tax Rate Reconciliation Tax Credit And Deductions
EffectiveIncomeTaxRateReconciliationTaxCreditAndDeductions
0.0096
scu Effective Income Tax Rate Reconciliation Tax Credit And Deductions
EffectiveIncomeTaxRateReconciliationTaxCreditAndDeductions
0.0380
scu Effective Income Tax Rate Reconciliation Tax Credit And Deductions
EffectiveIncomeTaxRateReconciliationTaxCreditAndDeductions
0.0100
CY2023Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Warrants Liability Change In Fair Value
EffectiveIncomeTaxRateReconciliationNondeductibleWarrantsLiabilityChangeInFairValue
-0.0445
CY2022Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Warrants Liability Change In Fair Value
EffectiveIncomeTaxRateReconciliationNondeductibleWarrantsLiabilityChangeInFairValue
-0.0383
scu Effective Income Tax Rate Reconciliation Nondeductible Warrants Liability Change In Fair Value
EffectiveIncomeTaxRateReconciliationNondeductibleWarrantsLiabilityChangeInFairValue
-0.0512
scu Effective Income Tax Rate Reconciliation Nondeductible Warrants Liability Change In Fair Value
EffectiveIncomeTaxRateReconciliationNondeductibleWarrantsLiabilityChangeInFairValue
0.2574
CY2023Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
-0.0502
CY2022Q3 scu Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
-0.0608
scu Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
-0.1372
scu Effective Income Tax Rate Reconciliation Nondeductible Executive Compensation Expense Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExecutiveCompensationExpensePercent
-0.1929
CY2023Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0011
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0020
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0200
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0036
CY2023Q3 scu Effective Income Tax Rate Reconciliation Special Purpose Acquisition Company Loss Percent
EffectiveIncomeTaxRateReconciliationSpecialPurposeAcquisitionCompanyLossPercent
-0.0001
CY2022Q3 scu Effective Income Tax Rate Reconciliation Special Purpose Acquisition Company Loss Percent
EffectiveIncomeTaxRateReconciliationSpecialPurposeAcquisitionCompanyLossPercent
0
scu Effective Income Tax Rate Reconciliation Special Purpose Acquisition Company Loss Percent
EffectiveIncomeTaxRateReconciliationSpecialPurposeAcquisitionCompanyLossPercent
0.0702
scu Effective Income Tax Rate Reconciliation Special Purpose Acquisition Company Loss Percent
EffectiveIncomeTaxRateReconciliationSpecialPurposeAcquisitionCompanyLossPercent
0
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0073
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0075
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.3264
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0249
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8300000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
8300000 usd
CY2023Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4800000 usd
CY2023Q3 us-gaap Professional Fees
ProfessionalFees
20112000 usd
CY2022Q3 us-gaap Professional Fees
ProfessionalFees
7326000 usd
us-gaap Professional Fees
ProfessionalFees
40480000 usd
us-gaap Professional Fees
ProfessionalFees
18967000 usd
CY2023Q3 us-gaap Occupancy Net
OccupancyNet
7315000 usd
CY2022Q3 us-gaap Occupancy Net
OccupancyNet
6951000 usd
us-gaap Occupancy Net
OccupancyNet
20816000 usd
us-gaap Occupancy Net
OccupancyNet
20941000 usd
CY2023Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
6673000 usd
CY2022Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
5299000 usd
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
18205000 usd
CY2023Q3 scu Recurring Placement And Related Service Fees
RecurringPlacementAndRelatedServiceFees
3656000 usd
CY2022Q3 scu Recurring Placement And Related Service Fees
RecurringPlacementAndRelatedServiceFees
4661000 usd
scu Recurring Placement And Related Service Fees
RecurringPlacementAndRelatedServiceFees
10938000 usd
CY2023Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
2312000 usd
CY2022Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
2226000 usd
us-gaap General Insurance Expense
GeneralInsuranceExpense
6947000 usd
CY2023Q3 us-gaap Business Development
BusinessDevelopment
587000 usd
CY2022Q3 us-gaap Business Development
BusinessDevelopment
799000 usd
us-gaap Business Development
BusinessDevelopment
2607000 usd
CY2023Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1433000 usd
CY2022Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1028000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
5818000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
42088000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
28290000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
105811000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-31113000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25204848 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-31113000 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25204848 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22518000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24772098 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.91
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-22518000 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24772098 shares
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.91
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18967000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25186162 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.75
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-40247000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40212156 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.00
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13688000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25620996 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-47878000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26818176 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.79
CY2023Q3 scu Amounts Payable Under Tax Receivable Agreement
AmountsPayableUnderTaxReceivableAgreement
173100000 usd
CY2023Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P15Y
CY2023Q3 scu Percentageoftaxsavingstobepaidundertaxreceivableagreementtoremaining Em Dsand Ziffs
PercentageoftaxsavingstobepaidundertaxreceivableagreementtoremainingEMDsandZiffs
0.69
CY2023Q3 scu Amounts Payable Under Tax Receivable Agreement
AmountsPayableUnderTaxReceivableAgreement
173100000 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Due Remainder Of The Year
TaxReceivableAgreementFutureMaximumPaymentsDueRemainderOfTheYear
0 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Dueinthe Next Fiscal Year
TaxReceivableAgreementFutureMaximumPaymentsDueintheNextFiscalYear
18041000 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Due In Two Year
TaxReceivableAgreementFutureMaximumPaymentsDueInTwoYear
6652000 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Due In Three Years
TaxReceivableAgreementFutureMaximumPaymentsDueInThreeYears
26903000 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Due In Four Years
TaxReceivableAgreementFutureMaximumPaymentsDueInFourYears
30443000 usd
CY2023Q3 scu Tax Receivable Agreement Future Maximum Payments Due Thereafter
TaxReceivableAgreementFutureMaximumPaymentsDueThereafter
91085000 usd
CY2023Q3 scu Amounts Payable Under Tax Receivable Agreement
AmountsPayableUnderTaxReceivableAgreement
173124000 usd
CY2023Q3 us-gaap Other Commitment
OtherCommitment
203000000 usd
us-gaap Longterm Purchase Commitment Period
LongtermPurchaseCommitmentPeriod
P5Y
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q3 scu Merger Agreement Termination Fee
MergerAgreementTerminationFee
22400000 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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