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Segment Reporting

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

24. 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 U.S. Business segment includes the results of the Company’s U.S. operations and wind down costs associated with the 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 March 31,
		2019				2018
U.S. Business Segment
Operating revenues
Advisory fees		$	42,517			$	55,518
Other income			106				147
Total operating revenues		$	42,623			$	55,665
Total operating expenses		$	(37,176	)		$	(39,030	)
Other income/(expenses)
Interest expense		$	(192	)		$	—
Interest income			779				962
Impairment			(572	)			—
Other gains/(losses), net			145				(226	)
Total other income/(expenses)		$	160			$	736
Total income before taxes (U.S. Business Segment)		$	5,607			$	17,371
International Business Segment (1)
Operating revenues
Advisory fees		$	22,323			$	2,938
Other income			539				301
Total operating revenues		$	22,862			$	3,239
Total operating expenses		$	(17,626	)		$	(6,653	)
Other income/(expenses)
Interest expense		$	(2,700	)		$	—
Gain on revaluation of deferred consideration			4,404				—
Other losses, net			(4,772	)			(35	)
Total other income/(expenses)		$	(3,068	)		$	(35	)
Total income/(loss) before taxes (International Business Segment)		$	2,168			$	(3,449	)
Income/(loss) before taxes
U.S. Business segment		$	5,607			$	17,371
International Business segment			2,168				(3,449	)
Total income before taxes		$	7,775			$	13,922

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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