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Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Registrant | SCHEDULE I
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
See accompanying notes to condensed financial statements.
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)
See accompanying notes to condensed financial statements.
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 |  | $ | -
See accompanying notes to condensed financial statements. INSTITUTIONAL FINANCIAL MARKETS, INC. CONDENSED FINANCIAL INFORMATION OF REGISTRANT INSTITUTIONAL FINANCIAL MARKETS, INC. (PARENT COMPANY) NOTES TO CONDENSED FINANCIAL STATEMENTS (Dollars in Thousands) The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements and related notes of Institutional Financial Markets, Inc. Certain prior period amounts have been reclassified to conform to the current period presentation. The Company paid or received cash distributions to / from IFMI, LLC as disclosed above in the statements of cash flow.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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