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Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheet |
INSTITUTIONAL FINANCIAL MARKETS, INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
INSTITUTIONAL FINANCIAL MARKETS, INC. (PARENT COMPANY)
Balance Sheet
(Dollars in Thousands)
|  | December 31, 2013 |  | December 31, 2012
Assets |  |  |  |  |  |
Cash |  | $ | 7 |  | $ | 140
Investment in IFMI, LLC |  |  | 85,401 |  |  | 89,292
Other assets |  |  | 666 |  |  | 28
Total assets |  | $ | 86,074 |  | $ | 89,460
Liabilities |  |  |  |  |  |
Accrued interest and other liabilities |  |  | 375 |  |  | 301
Deferred income taxes |  |  | 4,530 |  |  | 6,674
Debt |  |  | 29,674 |  |  | 25,505
Total liabilities |  | $ | 34,579 |  | $ | 32,480
Stockholders’ Equity |  |  |  |  |  |
Preferred Stock: |  |  | 5 |  |  | 5
Common Stock |  |  | 14 |  |  | 11
Additional paid-in capital |  |  | 73,866 |  |  | 64,829
Accumulated deficit |  |  | (21,754) |  |  | (7,370)
Accumulated other comprehensive loss |  |  | (636) |  |  | (495)
Total stockholders’ equity |  | $ | 51,495 |  | $ | 56,980
Total liabilities and stockholders’ equity |  | $ | 86,074 |  | $ | 89,460
Statement of Operations |
INSTITUTIONAL FINANCIAL MARKETS, INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
INSTITUTIONAL FINANCIAL MARKETS, INC. (PARENT COMPANY)
Statement of Operations
(Dollars in Thousands)
|  | For the Year Ended December 31, 2013 |  | For the Year Ended December 31, 2012 |  | For the Year Ended December 31, 2011
Revenues |  |  |  |  |  |  |  |  |
Equity in undistributed earnings / (loss) from IFMI, LLC |  | $ | (11,502) |  | $ | 2,666 |  | $ | (5,480)
Total revenues |  |  | (11,502) |  |  | 2,666 |  |  | (5,480)
Operating income / (loss) |  |  | (11,502) |  |  | 2,666 |  |  | (5,480)
Non-operating expense |  |  |  |  |  |  |  |  |
Interest expense |  |  | (4,001) |  |  | (4,397) |  |  | (5,617)
Income / (loss) before income taxes |  |  | (15,503) |  |  | (1,731) |  |  | (11,097)
Income tax (benefit) / expense |  |  | (2,185) |  |  | (763) |  |  | (1,709)
Net income / (loss) |  | $ | (13,318) |  | $ | (968) |  | $ | (9,388)
Statement of cash flows |
INSTITUTIONAL FINANCIAL MARKETS, INC.
CONDENSED FINANCIAL INFORMATION OF REGISTRANT
INSTITUTIONAL FINANCIAL MARKETS, INC. (PARENT COMPANY)
Statement of cash flows
(Dollars in Thousands)
|  | For the Year Ended December 31, 2013 |  | For the Year Ended December 31, 2012 |  | For the Year Ended December 31, 2011
Operating activities |  |  |  |  |  |  |  |  |
Net income / (loss) |  | $ | (13,318) |  | $ | (968) |  | $ | (9,388)
Adjustments to reconcile net income / (loss) to net cash provided by / (used) in operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed earnings / (loss) from IFMI, LLC |  |  | 11,502 |  |  | (2,666) |  |  | 5,480
Distributions from / (Contributions to) IFMI, LLC |  |  | (3,653) |  |  | 15,943 |  |  | 8,346
Other (income) / expense |  |  | 15 |  |  | (3) |  |  | (33)
Amortization of discount of debt |  |  | 906 |  |  | 189 |  |  | 429
(Increase) / decrease in other assets |  |  | 32 |  |  | 246 |  |  | 12
Increase / (decrease) in accounts payable and other liabilities |  |  | 74 |  |  | (330) |  |  | 9
Increase / (decrease) in deferred income taxes |  |  | (2,144) |  |  | (826) |  |  | (1,708)
Net cash provided by / (used in) operating activities |  |  | (6,586) |  |  | 11,585 |  |  | 3,147
Financing activities |  |  |  |  |  |  |  |  |
Repurchase of debt |  |  | (5,000) |  |  | (10,357) |  |  | (984)
Issuance of debt |  |  | 8,248 |  |  | - |  |  | -
Payments for deferred financing costs |  |  | (670) |  |  | - |  |  | -
Cash used to net share settle equity awards |  |  | (110) |  |  | (135) |  |  | (48)
Proceeds from issuance of stock, net |  |  | 5,051 |  |  | - |  |  | -
Dividends paid to stockholders |  |  | (1,066) |  |  | (953) |  |  | (2,115)
Net cash provided by / (used in) financing activities |  |  | 6,453 |  |  | (11,445) |  |  | (3,147)
Net increase (decrease) in cash and cash equivalents |  |  | (133) |  |  | 140 |  |  | -
Cash and cash equivalents, beginning of period |  |  | 140 |  |  | - |  |  | -
Cash and cash equivalents, end of period |  | $ | 7 |  | $ | 140 |  | $ | -

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