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Investments (Tables)

9 Months Ended

Sep. 30, 2012

Investments [Abstract]

Investment holdings by type of instrument

		As of September 30, 2012												As of December 31, 2011
		Cost or Amortized Cost				Fair Value				Carrying Value				Cost or Amortized Cost				Fair Value				Carrying Value
Cash and cash equivalents (1)		$	365,675			$	365,675			$	365,675			$	229,685			$	229,685			$	229,685
Restricted cash and cash equivalents (1)			95,135				95,135				95,135				78,312				78,312				78,312
Trading portfolio:
Debt securities:
U.S. government obligations and agencies			3,193				4,008				4,008				3,179				3,801				3,801
Equity securities:
Common stock:
Metals and mining			11,709				9,235				9,235				50,121				38,816				38,816
Energy			9,968				8,067				8,067				6,077				4,999				4,999
Other			10,359				9,989				9,989				8,044				6,945				6,945
Exchange-traded and mutual funds:
Metals and mining			6,297				6,527				6,527				28,311				25,997				25,997
Agriculture			7,046				7,015				7,015				17,781				16,878				16,878
Energy			2,880				2,935				2,935				—				—				—
Indices			5,774				5,107				5,107				2,006				1,710				1,710
Non-hedging derivative asset (2)			274				101				101				357				123				123
Other investments (3)			517				317				317				517				371				371
Total trading portfolio investments			58,017				53,301				53,301				116,393				99,640				99,640
Total investments		$	518,827			$	514,111			$	514,111			$	424,390			$	407,637			$	407,637

(1) Cash and cash equivalents include short-term debt securities consisting of direct obligations of the U.S. Treasury or money-market accounts that invest in direct obligations of the U.S. Treasury.

(2) Derivatives are included in Other assets in the Condensed Consolidated Balance Sheets.

(3) Other investments represent physical metals held by the Company and are included in Other assets in the Condensed Consolidated Balance Sheets.

Investment income (expense) comprised primarily of interest and dividends

		Three Months Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011
Cash and cash equivalents (1)		$	243			$	203			$	483			$	253
Debt securities			42				13				53				481
Equity securities			95				76				313				136
Total investment income			380				292				849				870
Less investment expenses			(165	)			(170	)			(686	)			(512	)
Net investment (expense) income		$	215			$	122			$	163			$	358

(1) Includes interest earned on restricted cash and cash equivalents.

Effect of trading activities by type of instrument and by line item in the condensed consolidated statements of income

		Three Months Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011
Realized gains (losses) on investments:
Debt securities		$	—			$	—			$	—			$	(3,616	)
Equity securities			(3,299	)			5,669				(12,728	)			16,535
Derivatives (non-hedging instruments) (1)			157				215				432				(423	)
Total realized gains (losses) on trading portfolio			(3,142	)			5,884				(12,296	)			12,496
Unrealized gains (losses) on investments:
Debt securities			55				112				192				8,372
Equity securities			8,119				(17,504	)			11,291				(32,398	)
Derivatives (non-hedging instruments) (1)			(55	)			1,454				62				1,036
Other			(28	)			(47	)			(55	)			(47	)
Total unrealized gains (losses) on trading portfolio			8,091				(15,985	)			11,490				(23,037	)
Net gains (losses) recognized on trading securities		$	4,949			$	(10,101	)		$	(806	)		$	(10,541	)

(1) This table represents the alternative quantitative disclosures permitted for derivatives that are not used as hedging instruments and are included in the trading portfolio.

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Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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