Quarterly report pursuant to Section 13 or 15(d)

Accounts Payable, Accrued Expenses??and Other Current Liabilities

v3.23.2
Accounts Payable, Accrued Expenses and Other Current Liabilities
 6 Months Ended
Jun. 30, 2023
Payables and Accruals [Abstract]  
Accounts Payable, Accrued Expenses and Other Current Liabilities Accounts Payable, Accrued Expenses and Other Current Liabilities
 
Accounts payable, accrued expenses and other liabilities consisted of the following:

June 30, December 31,
  2023 2022
(in thousands)
Accrued investment manager fees $ 105,913  $ 99,851 
Accrued compensation and related taxes 57,771  77,939 
Accounts payable 27,853  11,271 
Accrued professional services 17,622  10,762 
Income tax payable 13,102  260 
Accrued technology 8,331  6,393 
Accrued treasury stock purchases —  9,289 
Other accrued expenses 9,244  18,101 
Total accounts payable, accrued expenses and other current liabilities $ 239,836  $ 233,866 
During the three and six months ended June 30, 2023, as part of a reduction in force initiative, the Company entered into separation agreements with a number of employees. In connection with the reduction in force initiatives as well as a fourth quarter 2022 organizational realignment, the Company incurred approximately $8.2 million and $14.4 million in total severance expense in the three and six months ended June 30, 2023, respectively. As of June 30, 2023 the Company had accrued approximately $9.4 million in severance related expenses in accrued compensation and related taxes.