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Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2012
Financial Information for the Company's Segments | The following tables present the financial information for the Company’s business segments for the periods indicated.
As of and for the year ended December 31, 2012 |  | Capital Markets |  |  | Asset Management |  |  | Principal Investing |  |  | Segment Total |  |  | Unallocated (1) |  |  | Total |
Summary statement of operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net trading |  | $ | 69,486 |  |  | $ | — |  |  | $ | — |  |  | $ | 69,486 |  |  | $ | — |  |  | $ | 69,486 |
Asset management |  |  | — |  |  |  | 23,172 |  |  |  | — |  |  |  | 23,172 |  |  |  | — |  |  |  | 23,172 |
New issue and advisory |  |  | 6,021 |  |  |  | — |  |  |  | — |  |  |  | 6,021 |  |  |  | (1,000 | ) |  |  | 5,021 |
Principal transactions and other income |  |  | 166 |  |  |  | 894 |  |  |  | (3,499 | ) |  |  | (2,439 | ) |  |  | — |  |  |  | (2,439 | )
Total revenues |  |  | 75,673 |  |  |  | 24,066 |  |  |  | (3,499 | ) |  |  | 96,240 |  |  |  | (1,000 | ) |  |  | 95,240 |
Total operating expenses |  |  | 74,595 |  |  |  | 8,690 |  |  |  | 347 |  |  |  | 83,632 |  |  |  | 11,313 |  |  |  | 94,945 |
Operating income / (loss) |  |  | 1,078 |  |  |  | 15,376 |  |  |  | (3,846 | ) |  |  | 12,608 |  |  |  | (12,313 | ) |  |  | 295 |
Income / (loss) from equity method affiliates |  |  | — |  |  |  | 3,309 |  |  |  | 1,743 |  |  |  | 5,052 |  |  |  | — |  |  |  | 5,052 |
Other non operating income / (expense) |  |  | (3,554 | ) |  |  | — |  |  |  | — |  |  |  | (3,554 | ) |  |  | (4,449 | ) |  |  | (8,003 | )
Income / (loss) before income taxes |  |  | (2,476 | ) |  |  | 18,685 |  |  |  | (2,103 | ) |  |  | 14,106 |  |  |  | (16,762 | ) |  |  | (2,656 | )
Income tax expense / (benefit) |  |  | 49 |  |  |  | — |  |  |  | — |  |  |  | 49 |  |  |  | (664 | ) |  |  | (615 | )
Net income / (loss) |  |  | (2,525 | ) |  |  | 18,685 |  |  |  | (2,103 | ) |  |  | 14,057 |  |  |  | (16,098 | ) |  |  | (2,041 | )
Less: Net income / (loss) attributable to the non-controlling interest |  |  | (216 | ) |  |  | — |  |  |  | — |  |  |  | (216 | ) |  |  | (857 | ) |  |  | (1,073 | )
Net income / (loss) attributable to IFMI |  | $ | (2,309 | ) |  | $ | 18,685 |  |  | $ | (2,103 | ) |  | $ | 14,273 |  |  | $ | (15,241 | ) |  | $ | (968 | )
Other statement of operations data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in total operating expense) |  | $ | 859 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 876 |  |  | $ | 429 |  |  | $ | 1,305 |
Balance sheet data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets (2) (3) |  | $ | 279,863 |  |  | $ | 7,257 |  |  | $ | 39,741 |  |  | $ | 326,861 |  |  | $ | 14,140 |  |  | $ | 341,001 |
Investment in equity method affiliates (included in total assets) |  | $ | — |  |  | $ | 493 |  |  | $ | 1,417 |  |  | $ | 1,910 |  |  | $ | — |  |  | $ | 1,910 |
As of and for the year ended December 31, 2011 |  | Capital Markets |  |  | Asset Management |  |  | Principal Investing |  |  | Segment Total |  |  | Unallocated (1) |  |  | Total |
Summary statement of operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net trading |  | $ | 73,167 |  |  | $ | — |  |  | $ | — |  |  | $ | 73,167 |  |  | $ | — |  |  | $ | 73,167 |
Asset management |  |  | — |  |  |  | 21,698 |  |  |  | — |  |  |  | 21,698 |  |  |  | — |  |  |  | 21,698 |
New issue and advisory |  |  | 3,585 |  |  |  | — |  |  |  | — |  |  |  | 3,585 |  |  |  | — |  |  |  | 3,585 |
Principal transactions and other income |  |  | 199 |  |  |  | 1,316 |  |  |  | 366 |  |  |  | 1,881 |  |  |  | — |  |  |  | 1,881 |
Total revenues |  |  | 76,951 |  |  |  | 23,014 |  |  |  | 366 |  |  |  | 100,331 |  |  |  | — |  |  |  | 100,331 |
Total operating expenses |  |  | 79,986 |  |  |  | 6,017 |  |  |  | 690 |  |  |  | 86,693 |  |  |  | 31,803 |  |  |  | 118,496 |
Operating income / (loss) |  |  | (3,035 | ) |  |  | 16,997 |  |  |  | (324 | ) |  |  | 13,638 |  |  |  | (31,803 | ) |  |  | (18,165 | )
Income / (loss) from equity method affiliates |  |  | (204 | ) |  |  | 5,329 |  |  |  | 1,107 |  |  |  | 6,232 |  |  |  | — |  |  |  | 6,232 |
Other non operating income / (expense) |  |  | 386 |  |  |  | — |  |  |  | — |  |  |  | 386 |  |  |  | (6,329 | ) |  |  | (5,943 | )
Income / (loss) before income taxes |  |  | (2,853 | ) |  |  | 22,326 |  |  |  | 783 |  |  |  | 20,256 |  |  |  | (38,132 | ) |  |  | (17,876 | )
Income tax expense / (benefit) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,149 | ) |  |  | (1,149 | )
Net income / (loss) |  |  | (2,853 | ) |  |  | 22,326 |  |  |  | 783 |  |  |  | 20,256 |  |  |  | (36,983 | ) |  |  | (16,727 | )
Less: Net income / (loss) attributable to the non-controlling interest |  |  | (1,768 | ) |  |  | — |  |  |  | — |  |  |  | (1,768 | ) |  |  | (5,571 | ) |  |  | (7,339 | )
Net income / (loss) attributable to IFMI |  | $ | (1,085 | ) |  | $ | 22,326 |  |  | $ | 783 |  |  | $ | 22,024 |  |  | $ | (31,412 | ) |  | $ | (9,388 | )
Other statement of operations data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in total operating expense) |  | $ | 596 |  |  | $ | 15 |  |  | $ | — |  |  | $ | 611 |  |  | $ | 1,627 |  |  | $ | 2,238 |
Balance sheet data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets (2) (3) |  | $ | 352,817 |  |  | $ | 7,972 |  |  | $ | 47,696 |  |  | $ | 408,485 |  |  | $ | 12,105 |  |  | $ | 420,590 |
Investment in equity method affiliates (included in total assets) |  | $ | — |  |  | $ | 1,150 |  |  | $ | 4,926 |  |  | $ | 6,076 |  |  | $ | — |  |  | $ | 6,076 |
As of and for the year ended December 31, 2010 |  | Capital Markets |  |  | Asset Management |  |  | Principal Investing |  |  | Segment Total |  |  | Unallocated (1) |  |  | Total |
Summary statement of operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net trading |  | $ | 70,809 |  |  | $ | — |  |  | $ | — |  |  | $ | 70,809 |  |  | $ | — |  |  | $ | 70,809 |
Asset management |  |  | — |  |  |  | 25,281 |  |  |  | — |  |  |  | 25,281 |  |  |  | — |  |  |  | 25,281 |
New issue and advisory |  |  | 3,778 |  |  |  | — |  |  |  | — |  |  |  | 3,778 |  |  |  | — |  |  |  | 3,778 |
Principal transactions and other income |  |  | (125 | ) |  |  | 475 |  |  |  | 25,334 |  |  |  | 25,684 |  |  |  | — |  |  |  | 25,684 |
Total revenues |  |  | 74,462 |  |  |  | 25,756 |  |  |  | 25,334 |  |  |  | 125,552 |  |  |  | — |  |  |  | 125,552 |
Total operating expenses |  |  | 56,313 |  |  |  | 20,711 |  |  |  | 2,261 |  |  |  | 79,285 |  |  |  | 37,525 |  |  |  | 116,810 |
Operating income / (loss) |  |  | 18,149 |  |  |  | 5,045 |  |  |  | 23,073 |  |  |  | 46,267 |  |  |  | (37,525 | ) |  |  | 8,742 |
Income / (loss) from equity method affiliates |  |  | — |  |  |  | 5,621 |  |  |  | 263 |  |  |  | 5,884 |  |  |  | — |  |  |  | 5,884 |
Other non operating income / (expense) |  |  | — |  |  |  | 970 |  |  |  | — |  |  |  | 970 |  |  |  | (5,130 | ) |  |  | (4,160 | )
Income / (loss) before income taxes |  |  | 18,149 |  |  |  | 11,636 |  |  |  | 23,336 |  |  |  | 53,121 |  |  |  | (42,655 | ) |  |  | 10,466 |
Income tax expense / (benefit) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (749 | ) |  |  | (749 | )
Net income / (loss) |  |  | 18,149 |  |  |  | 11,636 |  |  |  | 23,336 |  |  |  | 53,121 |  |  |  | (41,906 | ) |  |  | 11,215 |
Less: Net income / (loss) attributable to the non-controlling interest |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,620 |  |  |  | 3,620 |
Net income / (loss) attributable to IFMI. |  | $ | 18,149 |  |  | $ | 11,636 |  |  | $ | 23,336 |  |  | $ | 53,121 |  |  | $ | (45,526 | ) |  | $ | 7,595 |
Other statement of operations data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in total operating expense) |  | $ | — |  |  | $ | 600 |  |  | $ | — |  |  | $ | 600 |  |  | $ | 1,756 |  |  | $ | 2,356 |
Balance sheet data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets (2) |  | $ | 200,207 |  |  | $ | 26,069 |  |  | $ | 43,481 |  |  | $ | 269,757 |  |  | $ | 36,990 |  |  | $ | 306,747 |
Investment in equity method affiliates (included in total assets) |  | $ | — |  |  | $ | 502 |  |  | $ | 1,604 |  |  | $ | 2,106 |  |  | $ | — |  |  | $ | 2,106 |
(1) | Unallocated includes certain expenses incurred by indirect overhead and support departments (such as the executive, finance, legal, information technology, human resources, risk, compliance, and other similar overhead and support departments). Some of the items not allocated include: (1) operating expenses (such as cash compensation and benefits, equity-based compensation expense, professional fees, travel and entertainment, consulting fees, and rent) related to support departments excluding certain departments that directly support the Capital Markets business segment; (2) interest expense on debt; and (3) income taxes. Management does not consider these items necessary for an understanding of the operating results of these business segments and such amounts are excluded in business segment reporting to the Chief Operating Decision Maker. During the third quarter of 2012, PrinceRidge (Capital Markets business segment) entered into an intercompany engagement with CCFL (Asset Management business segment). This intercompany transaction was eliminated in the unallocated segment.
(2) | Unallocated assets primarily include (1) amounts due from related parties; (2) furniture and equipment, net; and (3) other assets that are not considered necessary for an understanding of business segment assets and such amounts are excluded in business segment reporting to the Chief Operating Decision Maker.
(3) | Goodwill and intangible assets as of December 31, 2012 and 2011 are allocated to the Capital Markets and Asset Management business segments as indicated in the table listed below.
As of December 31, 2012:
|  | Capital Markets |  |  | Asset Management |  |  | Principal Investing |  |  | Segment Total |  |  | Unallocated |  |  | Total |
Goodwill |  | $ | 7,937 |  |  | $ | 3,176 |  |  | $ | — |  |  | $ | 11,113 |  |  |  | — |  |  | $ | 11,113 |
Intangible assets (included in other assets) |  | $ | 332 |  |  |  | — |  |  |  | — |  |  | $ | 332 |  |  |  | — |  |  | $ | 332 |
As of December 31, 2011:
|  | Capital Markets |  |  | Asset Management |  |  | Principal Investing |  |  | Segment Total |  |  | Unallocated |  |  | Total |
Goodwill |  | $ | 8,030 |  |  | $ | 3,176 |  |  | $ | — |  |  | $ | 11,206 |  |  |  | — |  |  | $ | 11,206 |
Intangible assets (included in other assets) |  | $ | 538 |  |  |  | — |  |  |  | — |  |  | $ | 538 |  |  |  | — |  |  | $ | 538 |
Total Revenues Summarized by Geographic Area | locations: (1) United States, and (2) United Kingdom and other. Total revenues by geographic area are summarized as follows: GEOGRAPHIC INFORMATION (Dollars in Thousands)
|  | Year ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Total Revenues: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 78,597 |  |  | $ | 90,475 |  |  | $ | 111,067 |
United Kingdom & Other |  |  | 16,643 |  |  |  | 9,856 |  |  |  | 14,485 |
|  | $ | 95,240 |  |  | $ | 100,331 |  |  | $ | 125,552 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 38 -Subparagraph b(1) -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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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -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. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 + Details
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