XML 47 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Redeemable Non-Controlling Interest (Temporary Equity) | 12 Months Ended
--- | ---
Dec. 31, 2012
Redeemable Non-Controlling Interest (Temporary Equity) | 18. REDEEMABLE NON-CONTROLLING INTEREST (TEMPORARY EQUITY) Redeemable Non-Controlling Interest The redeemable non-controlling interest represents the equity interests of PrinceRidge that are not owned by the Company. The members of PrinceRidge have the right to withdraw from PrinceRidge and require PrinceRidge to redeem the interests for cash over a contractual payment period. The Company’s policy on accounting for the redeemable non-controlling interest is discussed in note 3-O. In June 2011, the Company reclassified $3,536 from redeemable non-controlling interest to mandatorily redeemable equity interests that is included as a component of accounts payable and other liabilities in the Company’s consolidated balance sheets due to a partnership withdrawal from PrinceRidge. During the year ended December 31, 2012, the Company reclassified $6,446 from redeemable non-controlling interest to mandatorily redeemable equity interests, which is included as a component of accounts payable and other liabilities in the Company’s consolidated balance sheets, due to partnership withdrawals from PrinceRidge. In addition, PrinceRidge purchased $6,172 of non-controlling interest for cash during the year ended December 31, 2012 from existing partners, including the former Chief Executive Officer of PrinceRidge and member of the Board of Managers of PrinceRidge GP, Michael T. Hutchins, and the former Chairman of the Board of Managers of PrinceRidge GP, John P. Costas, and received $20 in cash related to capital contributions made to PrinceRidge during the year ended December 31, 2012. Mandatorily Redeemable Equity Interests Per the terms of the operating agreement, PrinceRidge must redeem a withdrawing partner’s equity interests over a period of time of up to two to five years. The amount actually due to a withdrawing partner will fluctuate over time based on the operating results of PrinceRidge. The carrying value of the liability owed to a withdrawing partner will be recorded at the amount owed as of each balance sheet date. Any increases or decreases in the amount owed will be recorded as interest income or expense and will be included in the non-operating section of the consolidated statement of operations. During the year ended December 31, 2012, the Company distributed cash of $3,723 to the holders of mandatorily redeemable equity interests. Of the $3,723 in cash distributed, $2,640 represents the cash that PrinceRidge paid in October 2012 related to the acceleration of its obligation to repurchase certain mandatorily redeemable equity interests from the PrinceRidge Separated Employees. See note 17. In addition to the $2,640 cash payment made, PrinceRidge issued to the PrinceRidge Separated Employees promissory notes in the initial aggregate principal amount of $4,824 on October 5, 2012. The Company reclassified $4,824 from mandatorily redeemable equity interests, which is included as component of accounts payable and other liabilities, to debt on the Company’s consolidated balance sheets upon issuance of the promissory notes. The promissory notes matured and were paid in full on December 21, 2012. See note 17. As of December 31, 2012 and 2011, the mandatorily redeemable equity interests totaled $86 and $3,149, respectively. See note 13.

X
- Definition A description of the redeemable non-controlling interest, categorized as temporary equity, and the mandatorily redeemable equity interests, categorized as the liability. + References No definition available. + Details
Name: | ifmi_RedeemableNonControllingInterestMandatorilyRedeemableEquityInterestsTextBlock
Namespace Prefix: | ifmi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration