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Segment Operating Results (Tables) | 6 Months Ended
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Jun. 30, 2014
Segment Reporting [Abstract] |
Information Regarding Operations By Segment | The following information presents each segment’s contribution.
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Investment Banking |  |  |  |  |  |  |
Net Revenues (1) | $ | 191,323 |  |  | $ | 182,605 |  |  | $ | 319,174 |  |  | $ | 314,201 |
Operating Expenses | 148,751 |  |  | 138,389 |  |  | 254,283 |  |  | 243,455 |
Other Expenses (2) | 4,237 |  |  | 9,456 |  |  | 7,451 |  |  | 19,311 |
Operating Income | 38,335 |  |  | 34,760 |  |  | 57,440 |  |  | 51,435 |
Income from Equity Method Investments | 813 |  |  | 290 |  |  | 503 |  |  | 460 |
Pre-Tax Income from Continuing Operations | $ | 39,148 |  |  | $ | 35,050 |  |  | $ | 57,943 |  |  | $ | 51,895 |
Identifiable Segment Assets | $ | 671,290 |  |  | $ | 562,690 |  |  | $ | 671,290 |  |  | $ | 562,690 |
Investment Management |  |  |  |  |  |  |
Net Revenues (1) | $ | 26,373 |  |  | $ | 24,192 |  |  | $ | 47,635 |  |  | $ | 45,227 |
Operating Expenses | 21,591 |  |  | 20,175 |  |  | 41,162 |  |  | 40,885 |
Other Expenses (2) | 82 |  |  | 596 |  |  | 164 |  |  | 1,346 |
Operating Income | 4,700 |  |  | 3,421 |  |  | 6,309 |  |  | 2,996 |
Income from Equity Method Investments | 1,225 |  |  | 725 |  |  | 1,776 |  |  | 1,311 |
Pre-Tax Income from Continuing Operations | $ | 5,925 |  |  | $ | 4,146 |  |  | $ | 8,085 |  |  | $ | 4,307 |
Identifiable Segment Assets | $ | 476,607 |  |  | $ | 470,273 |  |  | $ | 476,607 |  |  | $ | 470,273 |
Total |  |  |  |  |  |  |
Net Revenues (1) | $ | 217,696 |  |  | $ | 206,797 |  |  | $ | 366,809 |  |  | $ | 359,428 |
Operating Expenses | 170,342 |  |  | 158,564 |  |  | 295,445 |  |  | 284,340 |
Other Expenses (2) | 4,319 |  |  | 10,052 |  |  | 7,615 |  |  | 20,657 |
Operating Income | 43,035 |  |  | 38,181 |  |  | 63,749 |  |  | 54,431 |
Income from Equity Method Investments | 2,038 |  |  | 1,015 |  |  | 2,279 |  |  | 1,771 |
Pre-Tax Income from Continuing Operations | $ | 45,073 |  |  | $ | 39,196 |  |  | $ | 66,028 |  |  | $ | 56,202 |
Identifiable Segment Assets | $ | 1,147,897 |  |  | $ | 1,032,963 |  |  | $ | 1,147,897 |  |  | $ | 1,032,963 |
(1) | Net revenues include Other Revenue, net, allocated to the segments as follows:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Investment Banking (A) | $ | (928 | ) |  | $ | (849 | ) |  | $ | (1,581 | ) |  | $ | (636 | )
Investment Management (B) | (428 | ) |  | (897 | ) |  | (1,081 | ) |  | (1,299 | )
Total Other Revenue, net | $ | (1,356 | ) |  | $ | (1,746 | ) |  | $ | (2,662 | ) |  | $ | (1,935 | )
(A) | Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $1,105 and $2,210 for the three and six months ended June 30, 2014, respectively, and $1,095 and $2,183 for the three and six months ended June 30, 2013, respectively.
(B) | Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $932 and $1,864 for the three and six months ended June 30, 2014, respectively, and $924 and $1,843 for the three and six months ended June 30, 2013, respectively.
(2) | Other Expenses are as follows:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Investment Banking |  |  |  |  |  |  |
Amortization of LP Units and Certain Other Awards | $ | — |  |  | $ | 4,300 |  |  | $ | — |  |  | $ | 9,209 |
Acquisition Related Compensation Charges | 2,565 |  |  | 5,156 |  |  | 5,779 |  |  | 10,102 |
Professional Fees | 1,672 |  |  | — |  |  | 1,672 |  |  | — |
Total Investment Banking | 4,237 |  |  | 9,456 |  |  | 7,451 |  |  | 19,311 |
Investment Management |  |  |  |  |  |  |
Amortization of LP Units and Certain Other Awards | — |  |  | 514 |  |  | — |  |  | 1,182 |
Intangible Asset Amortization | 82 |  |  | 82 |  |  | 164 |  |  | 164 |
Total Investment Management | 82 |  |  | 596 |  |  | 164 |  |  | 1,346 |
Total Other Expenses | $ | 4,319 |  |  | $ | 10,052 |  |  | $ | 7,615 |  |  | $ | 20,657 |
Revenues Derived from Clients and Private Equity Funds by Geographical Areas | The Company’s revenues were derived from clients and private equity funds located and managed in the following geographical areas:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
Net Revenues: (1) |  |  |  |  |  |  |
United States | $ | 142,502 |  |  | $ | 157,595 |  |  | $ | 250,429 |  |  | $ | 248,451 |
Europe and Other | 47,997 |  |  | 35,497 |  |  | 84,785 |  |  | 74,866 |
Latin America | 28,553 |  |  | 15,451 |  |  | 34,257 |  |  | 38,046 |
Total | $ | 219,052 |  |  | $ | 208,543 |  |  | $ | 369,471 |  |  | $ | 361,363 |
(1) | Excludes Other Revenue and Interest Expense.

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