BGC Partners : 1Q 2024 Earnings Supplement

US GAAP Bal Sheet

BGC GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(in thousands, except per share data)
(unaudited)
March 31,	December 31,
2024	2023
Assets
Cash and cash equivalents	$ 566,791	$ 655,641
Cash segregated under regulatory requirements	18,317	17,255
Financial instruments owned, at fair value	48,905	45,792
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers	1,517,757	350,036
Accrued commissions and other receivables, net	348,228	305,793
Loans, forgivable loans and other receivables from employees and partners, net	396,107	367,805
Fixed assets, net	176,786	178,300
Investments	40,233	38,314
Goodwill	506,548	506,344
Other intangible assets, net	206,355	211,285
Receivables from related parties	5,254	2,717
Other assets	544,371	496,655
Total assets	$ 4,375,652	$ 3,175,937
Liabilities, Redeemable Partnership Interest, and Equity
Short-term borrowings from related parties	275,000	-
Accrued compensation	169,930	206,364
Payables to broker-dealers, clearing organizations, customers and related broker-dealers	1,339,095	202,266
Payables to related parties	57,531	17,456
Accounts payable, accrued and other liabilities	664,264	668,189
Notes payable and other borrowings	944,961	1,183,506
Total liabilities	3,450,781	2,277,781
Equity
Stockholders' equity:
Class A common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 410,319,749 and 403,574,835 shares issued at March 31, 2024 and December 31, 2023, respectively; and
385,134,879 and 390,094,988 shares outstanding at March 31, 2024 and December 31, 2023, respectively	4,103	4,036
Class B common stock, par value $0.01 per share; 300,000,000 shares authorized; 109,452,953 and 109,452,953 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively, convertible into Class A common stock	1,095	1,095
Additional paid-in capital	2,162,454	2,105,130
Treasury stock, at cost: 25,184,870 and 13,479,847 shares of Class A common stock at March 31, 2024 and December 31, 2023, respectively	(137,455)	(67,414)
Retained deficit	(1,074,819)	(1,119,182)
Accumulated other comprehensive income (loss)	(43,270)	(38,582)
Total stockholders' equity	912,108	885,083
Noncontrolling interest in subsidiaries	12,763	13,073
Total equity	924,871	898,156
Total liabilities, redeemable partnership interest and equity	$ 4,375,652	$ 3,175,937

US GAAP P&L

BGC GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended March 31,
Revenues:	2024	2023
Commissions	$ 415,172	$ 377,288
Principal transactions	112,849	114,929
Total brokerage revenues	528,021	492,217
Fees from related parties	4,421	3,957
Data, network and post-trade	30,903	27,122
Interest and dividend income	9,764	5,315
Other revenues	5,505	4,256
Total revenues	578,614	532,867
Expenses:
Compensation and employee benefits	290,842	267,214
Equity-based compensation and allocations of net income to limited partnership units and FPUs	96,081	81,373
Total compensation and employee benefits	386,923	348,587
Occupancy and equipment	40,806	41,165
Fees to related parties	7,215	8,440
Professional and consulting fees	14,259	15,701
Communications	30,008	27,939
Selling and promotion	16,771	14,616
Commissions and floor brokerage	17,392	15,265
Interest expense	20,136	15,742
Other expenses	14,558	12,508
Total non-compensation expenses	161,145	151,376
Total expenses	548,068	499,963
Other income (losses), net:
Gains (losses) on divestitures and sale of investments	-
Gains (losses) on equity method investments	1,790	2,062
Other income (loss)	38,762	(1,735)
Total other income (losses), net	40,552	327
Income (loss) from operations before income taxes	71,098	33,231
Provision (benefit) for income taxes	22,057	12,061
Consolidated net income (loss)	$ 49,041	$ 21,170
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries	(169)	2,192
Net income (loss) available to common stockholders	$ 49,210	$ 18,978
Per share data:
Basic earnings (loss) per share
Net income (loss) attributable to common stockholders	$ 46,378	$ 18,978
Basic earnings (loss) per share	$ 0.10	$ 0.05
Basic weighted-average shares of common stock outstanding	470,517	375,220
Fully diluted earnings (loss) per share
Net income (loss) for fully diluted shares	$ 46,417	$ 24,155
Fully diluted earnings (loss) per share	$ 0.10	$ 0.05
Fully diluted weighted-average shares of common stock outstanding	477,973	501,067

Recon of GAAP to AE

BGC GROUP INC.
RECONCILIATION OF GAAP INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES TO ADJUSTED EARNINGS AND GAAP FULLY DILUTED EPS TO POST-TAX ADJUSTED EPS
(in thousands, except per share data)
(unaudited)
Q1 2024	Q1 2023
GAAP income (loss) from operations before income taxes	$ 71,098	$ 33,231
Pre-tax adjustments:
Compensation adjustments:
Equity-based compensation and allocations of net income to limited partnership units and FPUs (1)	96,081	81,373
Other Compensation charges (2)	- 0	413
Total Compensation adjustments	96,081	81,786
Non-Compensation adjustments:
Amortization of intangibles (3)	4,905	3,684
Impairment charges	209	1,770
Other (4)	3,173	4,041
Total Non-Compensation adjustments	8,287	9,495
Other income (losses), net adjustments:
Fair value adjustment of investments (5)	(36,615)	1,321
Other net (gains) losses (6)	(3,501)	(1,223)
Total other income (losses), net adjustments	(40,116)	98
Total pre-tax adjustments	64,252	91,379
Adjusted Earnings before noncontrolling interest in subsidiaries and taxes	$ 135,350	$ 124,610
GAAP net income (loss) available to common stockholders	$ 49,210	$ 18,978
Allocation of net income (loss) to noncontrolling interest in subsidiaries (7)	-	2,299
Total pre-tax adjustments (from above)	64,252	91,379
Income tax adjustment to reflect adjusted earnings taxes (8)	9,740	2,964
Post-tax adjusted earnings	$ 123,202	$ 115,620
Per Share Data
GAAP fully diluted earnings (loss) per share	$ 0.10	$ 0.05
Less: Allocations of net income (loss) to limited partnership units, FPUs, and noncontrolling interest in subsidiaries, net of tax	-	(0.01)
Total pre-tax adjustments (from above)	0.13	0.18
Income tax adjustment to reflect adjusted earnings taxes	0.02	0.01
Post-tax adjusted earnings per share	$ 0.25	$ 0.23
Fully diluted weighted-average shares of common stock outstanding	494,950	501,067
Dividends declared per share of common stock	$ 0.01	$ 0.01
Dividends declared and paid per share of common stock	$ 0.01	$ 0.01
(1) The components of equity-based compensation and allocations of net income to limited partnership units and FPUs are as follows (in thousands):
Q1 2024	Q1 2023
Issuance of common stock and grants of exchangeability	$ 33,832	$ 51,966
Allocations of net income and dividend equivalents	1,294	2,380
LPU amortization	- 0	21,431
RSU, RSU Tax Account, and restricted stock amortization	60,955	5,596
Equity-based compensation and allocations of net income to limited partnership units and FPUs	$ 96,081	$ 81,373
(2) GAAP Expenses in the first quarter of 2023 included $0.2 million of certain acquisition-related compensation expenses, and $0.2 million of other compensation related adjustments.
(3) Includes non-cash GAAP charges related to the amortization of intangibles with respect to acquisitions.
(4) GAAP expenses in the first quarter of 2024 and 2023 included resolutions of litigation and other matters, including their related professional fees, as well as certain other professional fees, of $1.3 million and $2.1 million, respectively, as well as various other GAAP items. GAAP expenses in the first quarter of 2024 and 2023, included $2.0 million and $2.0 million, respectively, of reserves in connection with unsettled trades and receivables with sanctioned Russian entities. The above-referenced items are consistent with BGC's normal practice of excluding certain GAAP gains and charges from Adjusted Earnings that management believes do not best reflect the ordinary results of the Company, including with respect to non-recurring or unusual gains or losses, as well as resolutions of litigation.
(5) Includes a non-cash gain of $36.6 million and a non-cash loss of ($1.3) million related to fair value adjustments of investments held by BGC in the first quarter of 2024 and 2023, respectively.
(6) For the first quarter of 2024 and 2023, includes non-cash gains of $1.8 million and $2.1 million, respectively, related to BGC's investments accounted for under the equity method. The first quarter of 2024 and 2023 also included a net gain of $1.7 million and a net loss of ($0.8) million, respectively, related to other recoveries and various other GAAP items.
(7) Primarily represents Cantor's pro-rata portion of net income prior to the Corporate Conversion that was completed on July 1, 2023.
(8) BGC's GAAP provision (benefit) for income taxes is calculated based on an annualized methodology. The Company's GAAP provision (benefit) for income taxes was $22.1 million and $12.1 million for the first quarters of 2024 and 2023, respectively. The Company includes additional tax-deductible items when calculating the provision for taxes with respect to Adjusted Earnings using an annualized methodology. These include tax-deductions related to equity-based compensation, employee loan amortization, and certain net-operating loss carryforwards. The non-GAAP provision for income taxes was adjusted by $9.7 million and $3.0 million for the first quarters of 2024 and 2023, respectively. As a result, the provision (benefit) for income taxes with respect to Adjusted Earnings was $12.3 million and $9.1 million for the first quarters of 2024 and 2023, respectively.
Note: Certain numbers may not add due to rounding.

FD WASO GAAP to AE

BGC GROUP INC.
FULLY DILUTED WEIGHTED-AVERAGE SHARE COUNT
UNDER GAAP AND FOR ADJUSTED EARNINGS
(in thousands)
(unaudited)
Q1 2024	Q1 2023
Common stock outstanding	470,517	375,220
Limited partnership units	-	55,736
Cantor units	-	57,605
Founding partner units	-	7,110
RSUs	-	4,008
Other	7,456	1,388
Fully diluted weighted-average share count under GAAP	477,973	501,067
Non-GAAP Adjustments:
RSUs	14,423	-
Restricted Stock	2,554	-
Fully diluted weighted-average share count for Adjusted Earnings	494,950	501,067

EBITDA

BGC GROUP INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS TO ADJUSTED EBITDA
(in thousands)
(unaudited)
Q1 2024	Q1 2023
GAAP net income (loss) available to common stockholders	$ 49,210	$ 18,978
Add back:
Provision (benefit) for income taxes	22,057	12,061
Net income (loss) attributable to noncontrolling interest in subsidiaries (1)	(169)	2,192
Interest expense	20,136	15,742
Fixed asset depreciation and intangible asset amortization	20,689	19,059
Impairment of long-lived assets	209	1,770
Equity-based compensation and allocations of net income to limited partnership units and FPUs (2)	96,081	81,373
(Gains) losses on equity method investments (3)	(1,790)	(2,062)
Other non-cash GAAP expenses (4)	2,000	2,000
Adjusted EBITDA	$ 208,423	$ 151,113
(1) Primarily represents Cantor's pro-rata portion of net income prior to the Corporate Conversion that was completed on July 1, 2023.
(2) Represents BGC employees' pro-rata portion of net income and non-cash and non-dilutive charges relating to equity-based compensation. See Footnote 1 to the table titled "Reconciliation of GAAP Income (Loss) from Operations before Income Taxes to Adjusted Earnings and GAAP Fully Diluted EPS to Post-Tax Adjusted EPS" for more information.
(3) For the first quarters of both 2024 and 2023, includes non-cash gains of $1.8 million and $2.1 million, respectively, related to BGC's investments accounted for under the equity method.
(4) The first quarter of 2024 and 2023 includes $2.0 million and $2.0 million, respectively, of non-cash reserves in connection with unsettled trades and receivables with sanctioned Russian entities.

Liquidity Analysis

BGC GROUP INC.
LIQUIDITY ANALYSIS
(in thousands)
(unaudited)
March 31, 2024	December 31, 2023
Cash and cash equivalents	$ 566,791	$ 655,641
Financial instruments owned, at fair value	48,905	45,792
Total Liquidity	$ 615,696	$ 701,433

EBITDA Trend

BGC GROUP INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS TO ADJUSTED EBITDA
(in thousands)
(unaudited)
Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	YTD 2024	FY 2023	FY 2022
GAAP net income (loss) available to common stockholders	$ 49,210	$ 19,945	$ 17,046	$ (19,704)	$ 18,978	$ 2,216	$ 5,762	$ 14,762	$ 25,972	$ 49,210	$ 36,265	$ 48,712
Add back:
Provision (benefit) for income taxes	22,057	10,626	5,314	(9,067)	12,061	(1,991)	10,813	15,105	14,657	22,057	18,934	38,584
Net income (loss) attributable to noncontrolling interest in subsidiaries (1)	(169)	1,318	1,506	(2,506)	2,192	1,382	2,463	1,581	4,729	(169)	2,510	10,155
Interest expense	20,136	20,795	20,780	19,914	15,742	14,788	14,499	14,342	14,303	20,136	77,231	57,932
Fixed asset depreciation and intangible asset amortization	20,689	20,300	21,864	19,194	19,059	19,268	18,632	18,755	18,399	20,689	80,417	75,054
Impairment of long-lived assets	209	131	246	997	1,770	571	341	1,192	2,120	209	3,144	4,224
Equity-based compensation and allocations of net income to limited partnership units and FPUs (2)	96,081	78,093	69,268	126,644	81,373	89,332	57,730	46,133	57,876	96,081	355,378	251,071
(Gains) losses on equity investments (3)	(1,790)	(2,584)	(2,094)	(2,412)	(2,062)	(2,158)	(3,230)	(2,729)	(2,803)	(1,790)	(9,152)	(10,920)
Other non-cash GAAP items (4)	2,000	3,000	2,000	2,000	2,000	566	-	4,798	6,000	2,000	9,000	11,364
Adjusted EBITDA	$ 208,423	$ 151,624	$ 135,930	$ 135,060	$ 151,113	$ 123,974	$ 107,010	$ 113,939	$ 141,253	$ 208,423	$ 573,727	$ 486,176
(1) Primarily represents Cantor's pro-rata portion of net income prior to the Corporate Conversion that was completed on July 1, 2023.
(2) Represents BGC employees' pro-rata portion of net income and non-cash and non-dilutive charges relating to equity-based compensation. See Footnote 1 to the table titled "Reconciliation of GAAP Income (Loss) from Operations before Income Taxes to Adjusted Earnings and GAAP Fully Diluted EPS to Post-Tax Adjusted EPS" for more information.
(3) Non-cash gains related to BGC's investments accounted for under the equity method.
(4) Non-cash reserves in connection with unsettled trades and receivables with sanctioned Russian entities.

Page 6

Fenics Revenue

FENICS REVENUE BY QUARTER
(in thousands)
2024	2023	2022
Q1	YTD	Q4	Q3	Q2	Q1	FULL YEAR	Q4	Q3	Q2	Q1	FULL YEAR
Fenics Markets	$ 127,410	$ 127,410	$ 109,637	$ 106,968	$ 107,038	$ 122,973	$ 446,616	$ 94,146	$ 92,946	$ 97,202	$ 112,261	$ 396,555
Fenics Growth Platforms	21,938	21,938	21,173	18,405	18,107	17,381	75,066	14,771	12,661	12,393	13,059	52,884
Total Fenics Revenue	$ 149,348	$ 149,348	$ 130,810	$ 125,373	$ 125,145	$ 140,354	$ 521,682	$ 108,917	$ 105,607	$ 109,595	$ 125,320	$ 449,439

Recon of GAAP to AE Trend

BGC GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Q1 2024	YTD 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	FY 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	FY 2022
GAAP income (loss) from operations before income taxes	$ 71,098	$ 71,098	$ 31,889	$ 23,866	$ (31,277)	$ 33,231	$ 57,709	$ 1,607	$ 19,038	$ 31,448	$ 45,358	$ 97,451
Pre-tax adjustments:
Compensation adjustments:
Equity-based compensation and allocations of net income to limited partnership units and FPUs (1)	$ 96,081	$ 96,081	$ 78,093	$ 69,268	$ 126,644	$ 81,373	$ 355,378	$ 89,332	$ 57,730	$ 46,133	$ 57,876	$ 251,071
Other Compensation charges	- 0	- 0	(298)	(116)	3,005	413	3,004	(22,929)	2,310	788	508	(19,323)
Total Compensation adjustments	96,081	96,081	77,795	69,152	129,649	81,786	358,382	66,403	60,040	46,921	58,384	231,748
Non-Compensation adjustments:
Amortization of intangibles	4,905	4,905	4,080	4,077	4,196	3,684	16,037	3,993	3,684	3,741	4,310	15,728
Impairment charges	209	209	131	246	997	1,770	3,144	571	341	1,192	2,120	4,224
Other	3,173	3,173	12,199	10,324	3,690	4,041	30,254	18,334	8,578	13,278	5,733	45,923
Total Non-Compensation adjustments	8,287	8,287	16,410	14,647	8,883	9,495	49,435	22,898	12,603	18,211	12,163	65,875
Other income (losses), net adjustments:
Losses (gains) on divestitures	-	-	-	-	-	-	-	846	183	-	-	1,029
Fair value adjustment of investments	(36,615)	(36,615)	(3,251)	2	-	1,321	(1,928)	106	-	(1,782)	(140)	(1,816)
Other net (gains) losses	(3,501)	(3,501)	(12,029)	(5,759)	(1,715)	(1,223)	(20,726)	(4,779)	(9,104)	(4,645)	(2,644)	(21,172)
Total other income (losses), net adjustments	(40,116)	(40,116)	(15,280)	(5,757)	(1,715)	98	(22,654)	(3,827)	(8,921)	(6,427)	(2,784)	(21,959)
Total pre-tax adjustments	64,252	64,252	78,925	78,042	136,817	91,379	385,163	85,474	63,722	58,705	67,763	275,664
Pre-tax adjusted earnings	$ 135,350	$ 135,350	$ 110,814	$ 101,908	$ 105,540	$ 124,610	$ 442,872	$ 87,081	$ 82,760	$ 90,153	$ 113,121	$ 373,115
GAAP net income (loss) available to common stockholders	49,210	49,210	19,945	17,046	(19,704)	18,978	36,265	2,216	5,762	14,762	25,972	48,712
Allocation of net income (loss) to noncontrolling interest in subsidiaries	-	-	-	-	(2,864)	2,299	(565)	(53)	2,190	2,160	3,821	8,118
Total pre-tax adjustments (from above)	64,252	64,252	78,925	78,042	136,817	91,379	385,163	85,474	63,722	58,705	67,763	275,664
Income tax adjustment to reflect adjusted earnings taxes	9,740	9,740	2,427	(1,005)	(14,239)	2,964	(9,853)	(9,206)	5,833	9,113	5,607	11,347
Post-tax adjusted earnings	$ 123,202	$ 123,202	$ 101,297	$ 94,083	$ 100,010	$ 115,620	$ 411,010	$ 78,431	$ 77,507	$ 84,740	$ 103,163	$ 343,841
Post-tax adjusted earnings per share from continuing operations	0.25	0.25	0.21	0.19	0.20	0.23	0.82	0.16	0.16	0.17	0.21	0.69
Fully diluted weighted-average shares of common stock outstanding	494,950	494,950	490,717	490,117	505,493	501,067	503,842	492,549	496,985	507,005	502,877	499,414
Dividends declared per share of common stock	0.01	0.01	0.01	0.01	0.01	0.01	0.04	0.01	0.01	0.01	0.01	0.04
Dividends declared and paid per share of common stock	0.01	0.01	0.01	0.01	0.01	0.01	0.04	0.01	0.01	0.01	0.01	0.04

Page 4

Fenics Revenue by Asset Class

BGC GROUP INC.
2024	2023	2022
Q1	YTD	Q4	Q3	Q2	Q1	FULL YEAR	Q4	Q3	Q2	Q1	FULL YEAR
Fenics Revenues (in thousands):
Rates	$ 52,511	$ 52,511	$ 46,704	$ 43,639	$ 45,869	$ 49,531	$ 185,743	$ 37,468	$ 34,456	$ 40,923	$ 48,450	$ 161,297
Credit	36,622	36,622	27,148	26,102	24,426	32,871	110,547	19,036	20,381	17,470	21,282	78,169
Foreign exchange	27,493	27,493	25,477	25,839	25,285	27,191	103,792	24,388	24,767	25,893	28,905	103,953
Equities	1,798	1,798	1,909	1,928	2,545	3,619	10,001	2,941	2,078	1,884	2,550	9,453
Energy & commodities and other	21	21	21	68	20	20	129	21	117	34	6	178
Total Fenics brokerage revenues	$ 118,445	$ - 0	$ 118,445	$ - 0	$ 101,259	$ - 0	$ 97,576	$ - 0	$ 98,145	$ - 0	$ 113,232	$ - 0	$ 410,212	$ - 0	$ 83,854	$ 81,799	$ 86,204	$ 101,193	$ 353,050
Data, network and post-trade	30,903	30,903	29,551	27,797	27,000	27,122	111,470	25,063	23,808	23,391	24,127	96,389
Total revenues	$ 149,348	$ - 0	$ 149,348	$ - 0	$ 130,810	$ - 0	$ 125,373	$ - 0	$ 125,145	$ - 0	$ 140,354	$ - 0	$ 521,682	$ - 0	$ 108,917	$ 105,607	$ 109,595	$ 125,320	$ 449,439

Total Revenues

BGC GROUP INC.
2024	2023	2022
Q1	YTD	Q4	Q3	Q2	Q1	FULL YEAR	Q4	Q3	Q2	Q1	FULL YEAR
Revenues (in thousands):
Rates	$ 175,085	$ 175,085	$ 155,802	$ 145,703	$ 144,209	$ 164,737	$ 610,451	$ 123,594	$ 129,971	$ 137,129	$ 158,809	$ 549,503
Energy, Commodities, and Shipping	118,464	118,464	104,739	93,120	98,688	89,659	386,206	73,608	68,975	66,687	82,395	291,665
Foreign exchange	84,023	84,023	77,226	79,795	77,527	80,158	314,706	71,868	73,481	74,347	80,025	299,721
Credit	87,592	87,592	65,642	63,747	65,806	89,549	284,744	68,067	58,187	61,257	83,908	271,419
Equities	62,857	62,857	58,365	52,665	57,373	68,114	236,517	60,690	48,384	58,291	67,128	234,493
Total brokerage revenues	$ 528,021	$ 528,021	$ 461,774	$ 435,030	$ 443,603	$ 492,217	$ 1,832,624	$ 397,827	$ 378,998	$ 397,711	$ 472,265	$ 1,646,801
Data, network and post-trade	30,903	30,903	29,551	27,797	27,000	27,122	111,470	25,063	23,808	23,391	24,127	96,389
Fees from related parties, interest and dividend income and other revenues	19,690	19,690	25,435	19,867	22,477	13,528	81,307	13,625	13,761	14,654	10,072	52,112
Total revenues	$ 578,614	$ 578,614	$ 516,760	$ 482,694	$ 493,080	$ 532,867	$ 2,025,401	$ 436,515	$ 416,567	$ 435,756	$ 506,464	$ 1,795,302

Equity-Based Compensation

BGC GROUP INC.
Components of equity-based compensation and allocations of net income to limited partnership units and FPUs are as follows (in thousands):
(in thousands)
Q1 2024	YTD 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	FY 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	FY 2022
Issuance of common stock and grants of exchangeability	$ 33,832	$ 33,832	$ 17,500	$ 242	$ 101,938	$ 51,966	$ 171,646	$ 64,416	$ 32,469	$ 20,460	$ 30,135	$ 147,480
Allocations of net income and dividend equivalents	1,294	1,294	2,148	1,137	637	2,380	6,302	1,382	3,492	4,734	3,690	13,298
LPU amortization	-	-	-	-	19,447	21,431	40,878	20,150	18,961	15,601	19,023	73,734
RSU, RSU Tax Account, and restricted stock amortization	60,955	60,955	58,445	67,889	4,622	5,596	136,552	3,384	2,808	5,338	5,028	16,559
Equity-based compensation and allocations of net income to limited partnership units and FPUs	$ 96,081	$ 96,081	$ 78,093	$ 69,268	$ 126,644	$ 81,373	$ 355,378	$ 89,332	$ 57,730	$ 46,133	$ 57,876	$ 251,071