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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Schedule of Reconciliation of Effective Income Tax Rate | The income tax provision shown in the consolidated statements of operations is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit as follows: Amounts are expressed in thousands of dollars.
|  | Year ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Amount |  |  | Percentage |  |  | Amount |  |  | Percentage |  |  | Amount |  |  | Percentage |
U.S. federal statutory income tax rate |  | $ | (184 | ) |  |  | 35.0 | % |  | $ | 6,246 |  |  |  | 35.0 | % |  | $ | 23,797 |  |  |  | 35.0 | %
U.S. state and local income taxes, net of U.S. federal income tax benefits |  |  | (1,585 | ) |  |  |  |  |  |  | 840 |  |  |  | 4.7 | % |  |  | 3,569 |  |  |  | 5.2 | %
Unrecognized tax benefits |  |  | 1,524 |  |  |  |  |  |  |  | — |  |  |  | 0.0 | % |  |  | — |  |  |  | 0.0 | %
Tax exempt income, net of interest expense |  |  | (561 | ) |  |  |  |  |  |  | (647 | ) |  |  | -3.6 | % |  |  | (473 | ) |  |  | -0.7 | %
Business promotion and other non-deductible expenses |  |  | 851 |  |  |  |  |  |  |  | 620 |  |  |  | 3.5 | % |  |  | 616 |  |  |  | 0.9 | %
Adjustments to reflect prior year tax return filings |  |  | (294 | ) |  |  |  |  |  |  | (552 | ) |  |  | -3.1 | % |  |  | 24 |  |  |  | 0.0 | %
Tax rate change on deferred income taxes |  |  | 390 |  |  |  |  |  |  |  | (734 | ) |  |  | -4.1 | % |  |  | 955 |  |  |  | 1.4 | %
Insurance proceeds, non-taxable |  |  | (349 | ) |  |  |  |  |  |  | (821 | ) |  |  | -4.6 | % |  |  | — |  |  |  | 0.0 | %
Non-U.S. Operations |  |  | 678 |  |  |  |  |  |  |  | 348 |  |  |  | 1.9 | % |  |  | (232 | ) |  |  | -0.3 | %
Other |  |  | (146 | ) |  |  |  |  |  |  | (69 | ) |  |  | -0.4 | % |  |  | (1,045 | ) |  |  | -1.5 | %
Total Income Tax Expense |  | $ | 324 |  |  |  | n/m |  |  | $ | 5,231 |  |  |  | 29.3 | % |  | $ | 27,211 |  |  |  | 40.0 | %
n/m = not meaningful
Schedule of Current and Deferred Income Tax (Benefit) | Income taxes included in the consolidated statements of operations represent the following: Expressed in thousands of dollars.
|  | Year ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
U.S. federal tax (benefit) |  | $ | 19,918 |  |  | $ | 5,312 |  |  | $ | (11,471 | )
State and local tax (benefit) |  |  | 2,765 |  |  |  | 19 |  |  |  | 6,390 |
Non-U.S. operations |  |  | (61 | ) |  |  | 113 |  |  |  | 685 |
|  |  | 22,622 |  |  |  | 5,444 |  |  |  | (4,396 | )
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
U.S. federal tax (benefit) |  |  | (17,303 | ) |  |  | 143 |  |  |  | 27,799 |
State and local tax (benefit) |  |  | (4,890 | ) |  |  | (1,029 | ) |  |  | 3,356 |
Non U.S. operations (benefit) |  |  | (105 | ) |  |  | 673 |  |  |  | 452 |
|  |  | (22,298 | ) |  |  | (213 | ) |  |  | 31,607 |
|  | $ | 324 |  |  | $ | 5,231 |  |  | $ | 27,211 |
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities at December 31, 2012 and 2011 were as follows: Expressed in thousands of dollars.
|  | December 31, |
|  | 2012 |  |  | 2011 |
Deferred tax assets: |  |  |  |  |  |  |  |
Employee deferred compensation plans |  | $ | 22,819 |  |  | $ | 17,280 |
Reserve for litigation and legal fees |  |  | 17,019 |  |  |  | 5,469 |
Book versus tax depreciation differences |  |  | 5,931 |  |  |  | 3,675 |
Involuntary conversion |  |  | 1,686 |  |  |  | 1,534 |
Allowance for doubtful accounts |  |  | 941 |  |  |  | 1,044 |
Other |  |  | 18,973 |  |  |  | 16,317 |
Total deferred tax assets |  |  | 67,369 |  |  |  | 45,319 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Goodwill amortization (Section 197) |  |  | 39,391 |  |  |  | 34,915 |
Change in accounting method |  |  | — |  |  |  | 8,075 |
Partnership investments |  |  | 6,273 |  |  |  | 7,020 |
Capital markets acquisition (2008) |  |  | — |  |  |  | 4,801 |
Mortgage Servicing Rights |  |  | 6,679 |  |  |  | 3,387 |
Other |  |  | 2,559 |  |  |  | 1,247 |
Total deferred tax liabilities |  |  | 54,902 |  |  |  | 59,445 |
U.S. deferred tax asset/(liabilities) , net |  |  | 12,467 |  |  |  | (14,126 | )
Non U.S. deferred tax asset/(liabilities), net |  |  | 3,873 |  |  |  | 3,824 |
Deferred tax asset/(liabilities), net |  | $ | 16,340 |  |  | $ | (10,302 | )
Schedule of Unrecognized Tax Benefits | Expressed in thousands of dollars
|  | 2012 |  |  | 2011 |
Balance at January 1 |  | $ | 2,317 |  |  | $ | — |
Additions for tax positions of prior years |  |  | 2,919 |  |  |  | 2,317 |
Balance at December 31 |  | $ | 5,236 |  |  | $ | 2,317 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 48 -Paragraph 21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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