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Segment Reporting

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

The Company operates as an ETP sponsor and asset manager providing investment advisory services in the U.S., Europe, Canada and Japan. These activities are reported in the Company’s U.S. Business and International Business reportable segments. The U.S. Business segment includes the results of the Company’s U.S. operations and Japan sales office. The results of the Company’s European and Canadian operations are reported as the International Business segment.

Information concerning these reportable segments are as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2017				2016				2017				2016
Revenues (U.S. Business segment)
Advisory fees		$	53,641			$	54,061			$	104,667			$	113,153
Settlement gain			6,909				—				6,909				—
Other income			508				387				1,820				608
Total revenues (U.S. Business segment)		$	61,058			$	54,448			$	113,396			$	113,761
Revenues (International Business segment)
Advisory fees		$	2,473			$	1,870			$	4,709			$	3,393
Other loss			(103	)			(337	)			(78	)			(295	)
Total revenues (International Business segment)		$	2,370			$	1,533			$	4,631			$	3,098
Total revenues		$	63,428			$	55,981			$	118,027			$	116,859
Income/(loss) before taxes
U.S. Business segment		$	25,310			$	20,084			$	43,218			$	44,294
International Business segment			(3,085	)			(8,928	)			(6,171	)			(11,466	)
Total income before taxes		$	22,225			$	11,156			$	37,047			$	32,828

Assets are not reported by segment as such information is not utilized by the chief operating decision maker. The vast majority of the Company’s assets are located in the U.S.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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