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Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2015
Segment and Geographic Information [Abstract] |
Schedule Of Segment Reporting Information |
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2015
(Dollars in Thousands)
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Net trading |  | $ | 31,026 |  | $ | - |  | $ | - |  | $ | 31,026 |  | $ | - |  | $ | 31,026
Asset management |  |  | - |  |  | 9,682 |  |  | - |  |  | 9,682 |  |  | - |  |  | 9,682
New issue and advisory |  |  | 5,370 |  |  | - |  |  | - |  |  | 5,370 |  |  | - |  |  | 5,370
Principal transactions and other income |  |  | (1,759) |  |  | 3,568 |  |  | (1,731) |  |  | 78 |  |  | - |  |  | 78
Total revenues |  |  | 34,637 |  |  | 13,250 |  |  | (1,731) |  |  | 46,156 |  |  | - |  |  | 46,156
Total operating expenses |  |  | 32,276 |  |  | 4,523 |  |  | 503 |  |  | 37,302 |  |  | 10,515 |  |  | 47,817
Operating income / (loss) |  |  | 2,361 |  |  | 8,727 |  |  | (2,234) |  |  | 8,854 |  |  | (10,515) |  |  | (1,661)
Income / (loss) from equity method affiliates |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other non-operating income / (expense) |  |  | (29) |  |  | - |  |  | - |  |  | (29) |  |  | (3,893) |  |  | (3,922)
Income / (loss) before income taxes |  |  | 2,332 |  |  | 8,727 |  |  | (2,234) |  |  | 8,825 |  |  | (14,408) |  |  | (5,583)
Income tax expense / (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 85 |  |  | 85
Net income / (loss) |  |  | 2,332 |  |  | 8,727 |  |  | (2,234) |  |  | 8,825 |  |  | (14,493) |  |  | (5,668)
Less: Net income / (loss) attributable to the |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,589) |  |  | (1,589)
Net income / (loss) attributable to IFMI |  | $ | 2,332 |  | $ | 8,727 |  | $ | (2,234) |  | $ | 8,825 |  | $ | (12,904) |  | $ | (4,079)
Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
total operating expense) |  | $ | 468 |  | $ | 33 |  | $ | - |  | $ | 501 |  | $ | 232 |  | $ | 733
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2014
(Dollars in Thousands)
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Net trading |  | $ | 28,056 |  | $ | - |  | $ | - |  | $ | 28,056 |  | $ | - |  | $ | 28,056
Asset management |  |  | - |  |  | 14,496 |  |  | - |  |  | 14,496 |  |  | - |  |  | 14,496
New issue and advisory |  |  | 5,219 |  |  | - |  |  | - |  |  | 5,219 |  |  | - |  |  | 5,219
Principal transactions and other income |  |  | 397 |  |  | 5,362 |  |  | 2,220 |  |  | 7,979 |  |  | - |  |  | 7,979
Total revenues |  |  | 33,672 |  |  | 19,858 |  |  | 2,220 |  |  | 55,750 |  |  | - |  |  | 55,750
Total operating expenses |  |  | 32,831 |  |  | 10,500 |  |  | 370 |  |  | 43,701 |  |  | 11,761 |  |  | 55,462
Operating income / (loss) |  |  | 841 |  |  | 9,358 |  |  | 1,850 |  |  | 12,049 |  |  | (11,761) |  |  | 288
Income / (loss) from equity method affiliates |  |  | - |  |  | 27 |  |  | - |  |  | 27 |  |  | - |  |  | 27
Other non-operating income / (expense) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (4,401) |  |  | (4,401)
Income / (loss) before income taxes |  |  | 841 |  |  | 9,385 |  |  | 1,850 |  |  | 12,076 |  |  | (16,162) |  |  | (4,086)
Income tax expense / (benefit) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (414) |  |  | (414)
Net income / (loss) |  |  | 841 |  |  | 9,385 |  |  | 1,850 |  |  | 12,076 |  |  | (15,748) |  |  | (3,672)
Less: Net income / (loss) attributable to the |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
non-controlling interest |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1,087) |  |  | (1,087)
Net income / (loss) attributable to IFMI |  | $ | 841 |  | $ | 9,385 |  | $ | 1,850 |  | $ | 12,076 |  | $ | (14,661) |  | $ | (2,585)
Other statement of operations data |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization (included in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
total operating expense) |  | $ | 756 |  | $ | 57 |  | $ | - |  | $ | 813 |  | $ | 290 |  | $ | 1,103
SEGMENT INFORMATION
Statement of Operations Information
For the Year Ended December 31, 2013
(Dollars in Thousands)
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Net trading |  | $ | 38,528 |  | $ | - |  | $ | - |  | $ | 38,528 |  | $ | - |  | $ | 38,528
Asset management |  |  | - |  |  | 19,239 |  |  | - |  |  | 19,239 |  |  | - |  |  | 19,239
New issue and advisory |  |  | 6,418 |  |  | - |  |  | - |  |  | 6,418 |  |  | - |  |  | 6,418
Principal transactions and other income |  |  | 542 |  |  | 2,276 |  |  | (9,486) |  |  | (6,668) |  |  | - |  |  | (6,668)
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
(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 bus iness segment reporting to the chief operating decision m aker.
Reconciliation Of Assets From Segment To Consolidated |
Balance Sheet Data
As of December 31, 2015
(Dollars in Thousands)
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Total Assets |  | $ | 281,813 |  | $ | 3,245 |  | $ | 15,039 |  | $ | 300,097 |  | $ | 8,728 |  | $ | 308,825
Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in equity method affiliates |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | -
Goodwill (2) |  | $ | 7,937 |  | $ | 55 |  | $ | - |  | $ | 7,992 |  | $ | - |  | $ | 7,992
Intangible assets (2) |  | $ | 166 |  | $ | - |  | $ | - |  | $ | 166 |  | $ | - |  | $ | 166
Balance Sheet Data
As of December 31, 2014
(Dollars in Thousands)
|  | Capital |  | Asset |  | Principal |  | Segment |  | Unallocated |  |  |
|  | Markets |  | Management |  | Investing |  | Total |  | (1) |  | Total
Total Assets |  | $ | 295,311 |  | $ | 5,548 |  | $ | 28,649 |  | $ | 329,508 |  | $ | 13,010 |  | $ | 342,518
Included within total assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in equity method affiliates |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | -
Goodwill (2) |  | $ | 7,937 |  | $ | 55 |  | $ | - |  | $ | 7,992 |  | $ | - |  | $ | 7,992
Intangible assets (2) |  | $ | 166 |  | $ | - |  | $ | - |  | $ | 166 |  | $ | - |  | $ | 166
(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 m aker. (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,
| 2015 |  | 2014 |  | 2013
Total Revenues: |  |  |  |  |  |  |  |
United States | $ | 39,524 |  | $ | 44,991 |  | $ | 44,043
United Kingdom & Other |  | 6,632 |  |  | 10,636 |  |  | 11,178
Asia |  | - |  |  | 123 |  |  | 2,296
Total | $ | 46,156 |  | $ | 55,750 |  | $ | 57,517

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