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Business Developments, Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization | 9 Months Ended
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Sep. 30, 2021
Business Combinations [Abstract] |
Business Developments, Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization [Text Block] | Business Developments, Special Charges, Including Business Realignment Costs, and Intangible Asset Amortization Business Developments Sale of ECB Trust Business – On July 2, 2020, the Company completed the sale of the trust business of ECB ("the ECB Trust Business"), which was a part of its Investment Management segment, for a purchase price of MXN 39,500 ($1,830). As a result of this transaction, the Company deconsolidated assets of $475, representing an allocation of goodwill based on the relative fair value of the business being sold to the total fair value of the Institutional Asset Management reporting unit. This transaction resulted in a pre-tax gain of $1,355 included in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020. Special Charges, Including Business Realignment Costs The Company recognized $8,554 for the three and nine months ended September 30, 2021, as Special Charges, Including Business Realignment Costs, related to the write-down of certain assets associated with a legacy private equity investment relationship which, consistent with the Company's current investment strategy, the Company decided to wind down during the third quarter of 2021. See Note 8 for further information. The Company recognized $7,380 and $39,614 for the three and nine months ended September 30, 2020, respectively, as Special Charges, Including Business Realignment Costs. For the three and nine months ended September 30, 2020, these costs included $7,253 and $37,558, respectively, for separation and transition benefits and related costs as a result of the Company's review of its operations, described below, and $127 and $2,056, respectively, related to the acceleration of depreciation expense for leasehold improvements and certain other fixed assets in conjunction with the expansion of the Company's headquarters in New York and the Company's business realignment initiatives. In 2020, the Company completed a review of its operations focused on markets, sectors and people which delivered lower levels of productivity in an effort to attain greater flexibility of operations and better position itself for future growth. This review generated reductions of 8% of the Company's headcount. See Note 15 for further information. Intangible Asset Amortization Expense associated with the amortization of intangible assets for Investment Management was $90 and $272 for the three and nine months ended September 30, 2021, respectively, and $105 and $318 for the three and nine months ended September 30, 2020, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations. Expense associated with the amortization of intangible assets for Investment Banking was $169 and $1,183 for the three and nine months ended September 30, 2020, respectively, included within Depreciation and Amortization expense on the Unaudited Condensed Consolidated Statements of Operations.

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- Definition The entire description for costs incurred to effect business combinations that have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, expenses incurred with the exiting of lease commitments, and severance and other employee-related costs, as well as costs for the amortization of intangible assets. + References No definition available. + Details
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- References No definition available. + Details
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