Restructuring and Acquisition Charges

9 Months Ended

Sep. 30, 2013

Restructuring and Related Activities [Abstract]

Restructuring and acquisition charges

Restructuring and Acquisition Charges

For the three and nine months ended September 30, 2013, we recognized $4.9 million and $14.7 million, respectively, of restructuring and acquisition integration costs consisting of (1) severance, (2) King Sturge employee retention bonuses, (3) lease exit charges and fair value changes, and (4) other acquisition and information technology integration costs. For the three and nine months ended September 30, 2012, we recognized $6.8 million and $32.4 million, respectively, of such costs in the same expense categories.

The following table shows the restructuring and acquisition accrual activity, and the related payments made during the nine months ended September 30, 2013 and 2012 ($ in thousands):

	Severance			Retention Bonuses		Lease Exit		Other Acquisition Costs		Total
January 1, 2013	$	9,991		5,188		11,963		4,235		31,377
Accruals	9,124			799		(1,351	)	6,117		14,689
Payments made	(10,952		)	(5,524	)	(3,632	)	(6,908	)	(27,016	)
September 30, 2013	$	8,163		463		6,980		3,444		19,050

	Severance			Retention Bonuses		Lease Exit		Other Acquisition Costs		Total
January 1, 2012	$	11,712		7,555		7,912		4,778		31,957
Accruals	4,227			7,552		8,227		12,370		32,376
Fixed asset disposals	—			—		—		(1,799	)	(1,799	)
Payments made	(11,209		)	(6,465	)	(2,192	)	(12,856	)	(32,722	)
September 30, 2012	$	4,730		8,642		13,947		2,493		29,812

We expect that the majority of accrued severance and other accrued acquisition costs will be paid by the end of 2013. Payments relating to accrued retention bonuses will be made periodically through the second quarter of 2014. Lease exit payments are dependent on the terms of various leases, which extend into 2017.