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Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2013
Segment and Geographic Information [Abstract] |
Schedule Of Segment Reporting Information |
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2013
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Net trading |  | $ | 38,528 |  | $ | - |  | $ | - |  | $ | 38,528 |  | $ | - |  | $ | 38,528
Asset management |  |  | - |  |  | 19,803 |  |  | - |  |  | 19,803 |  |  | - |  |  | 19,803
New issue and advisory |  |  | 6,418 |  |  | - |  |  | - |  |  | 6,418 |  |  | - |  |  | 6,418
Principal transactions and other income |  |  | 542 |  |  | 1,712 |  |  | (9,486) |  |  | (7,232) |  |  | - |  |  | (7,232)
Total revenues |  |  | 45,488 |  |  | 21,515 |  |  | (9,486) |  |  | 57,517 |  |  | - |  |  | 57,517
Total operating expenses |  |  | 53,518 |  |  | 11,523 |  |  | 319 |  |  | 65,360 |  |  | 13,261 |  |  | 78,621
Operating income / (loss) |  |  | (8,030) |  |  | 9,992 |  |  | (9,805) |  |  | (7,843) |  |  | (13,261) |  |  | (21,104)
Income / (loss) from equity method affiliates |  |  | - |  |  | 546 |  |  | 1,282 |  |  | 1,828 |  |  | - |  |  | 1,828
Other non-operating income / (expense) |  |  | (164) |  |  | (9) |  |  | - |  |  | (173) |  |  | (4,035) |  |  | (4,208)
Income / (loss) before income taxes |  |  | (8,194) |  |  | 10,529 |  |  | (8,523) |  |  | (6,188) |  |  | (17,296) |  |  | (23,484)
Income tax expense / (benefit) |  |  | 14 |  |  | - |  |  | - |  |  | 14 |  |  | (3,579) |  |  | (3,565)
Net income / (loss) |  |  | (8,208) |  |  | 10,529 |  |  | (8,523) |  |  | (6,202) |  |  | (13,717) |  |  | (19,919)
Less: Net income / (loss) attributable to the |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
non-controlling interest |  |  | (9) |  |  | - |  |  | - |  |  | (9) |  |  | (6,592) |  |  | (6,601)
Net income / (loss) attributable to IFMI |  | $ | (8,199) |  | $ | 10,529 |  | $ | (8,523) |  | $ | (6,193) |  | $ | (7,125) |  | $ | (13,318)
Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
total operating expense) |  | $ | 795 |  | $ | 317 |  | $ | - |  | $ | 1,112 |  | $ | 293 |  | $ | 1,405
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2012
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
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
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2011
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
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
(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.
Reconciliation Of Assets From Segment To Consolidated |
Balance Sheet Data
As of December 31, 2013
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Total Assets |  | $ | 172,271 |  | $ | 9,938 |  | $ | 26,897 |  | $ | 209,106 |  | $ | 7,689 |  | $ | 216,795
Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in equity method affiliates |  | $ | - |  | $ | (48) |  | $ | 17 |  | $ | (31) |  | $ | - |  | $ | (31)
Goodwill (2) |  | $ | 7,937 |  | $ | 3,176 |  | $ | - |  | $ | 11,113 |  | $ | - |  | $ | 11,113
Intangible assets (2) |  | $ | 332 |  | $ | 151 |  | $ | - |  | $ | 483 |  | $ | - |  | $ | 483
Balance Sheet Data
As of December 31, 2012
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Total Assets |  | $ | 279,863 |  | $ | 7,257 |  | $ | 39,741 |  | $ | 326,861 |  | $ | 14,140 |  | $ | 341,001
Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in equity method affiliates |  | $ | - |  | $ | 493 |  | $ | 1,417 |  | $ | 1,910 |  | $ | - |  | $ | 1,910
Goodwill (2) |  | $ | 7,937 |  | $ | 3,176 |  | $ | - |  | $ | 11,113 |  | $ | - |  | $ | 11,113
Intangible assets (2) |  | $ | 332 |  | $ | - |  | $ | - |  | $ | 332 |  | $ | - |  | $ | 332
(1)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. (2)Goodwill and intangible assets are allocated to the Capital Markets and Asset Management business segments as indicated in the table from above.
Revenue By Geographic Area |
GEOGRAPHIC DATA
(Dollars in Thousands)
| For the year ended December 31,
| 2013 |  | 2012 |  | 2011
Total Revenues: |  |  |  |  |  |  |  |
United States | $ | 44,043 |  | $ | 78,597 |  | $ | 90,475
United Kingdom & Other |  | 11,178 |  |  | 16,643 |  |  | 9,856
Asia |  | 2,296 |  |  | - |  |  | -
Total | $ | 57,517 |  | $ | 95,240 |  | $ | 100,331

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