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Segment Reporting

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

23. Segment Reporting

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

Information concerning these reportable segments are as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2018				2017				2018				2017
U.S. Business Segment
Operating revenues
Advisory fees		$	52,931			$	53,641			$	108,449			$	104,667
Other income			162				128				309				231
Total operating revenues		$	53,093			$	53,769			$	108,758			$	104,898
Total operating expenses		$	(42,638	)		$	(35,748	)		$	(81,668	)		$	(70,178	)
Other income/(expenses)
Interest expense		$	(173	)		$	—			$	(173	)		$	—
Interest income			612				641				1,574				1,225
Settlement gain			—				6,909				—				6,909
Other gains and losses, net			(66	)			(261	)			(292	)			364
Total other income/(expenses)		$	373			$	7,289			$	1,109			$	8,498
Total income before taxes (U.S. Business Segment)		$	10,828			$	25,310			$	28,199			$	43,218
International Business Segment (1)
Operating revenues
Advisory fees		$	20,847			$	2,215			$	23,785			$	4,217
Other income			835				258				1,136				494
Total operating revenues		$	21,682			$	2,473			$	24,921			$	4,711
Total operating expenses		$	(17,606	)		$	(5,455	)		$	(24,259	)		$	(10,802	)
Other income/(expenses)
Interest expense		$	(2,183	)		$	—			$	(2,183	)		$	—
Interest income			—				—				—				—
Gain on revaluation of deferred consideration			9,898				—				9,898				—
Other gains and losses, net			(435	)			(103	)			(470	)			(80	)
Total other income/(expenses)		$	7,280			$	(103	)		$	7,245			$	(80	)
Total income/(loss) before taxes (International Business Segment)		$	11,356			$	(3,085	)		$	7,907			$	(6,171	)
Income/(loss) before taxes
U.S. Business segment		$	10,828			$	25,310			$	28,199			$	43,218
International Business segment			11,356				(3,085	)			7,907				(6,171	)
Total income before taxes		$	22,184			$	22,225			$	36,106			$	37,047

Assets are not reported by segment as such information is not utilized by the chief operating decision maker.

(1) The financial results of ETFS are included in the International Business reportable segment as of April 11, 2018.

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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