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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2014
Summary of Selected Information Related to Segments

The following summarizes selected information related to ICG’s segments for the three and six months ended June 30, 2014 and 2013. The amounts presented as “Dispositions” in the following table represent businesses reported as discontinued operations as of June 30, 2014 and ICG’s share of businesses’ results that had been accounted for under the equity method of accounting but were disposed of during the year ended December 31, 2013. Businesses reported as discontinued operations as of June 30, 2014 include the following: (1) Procurian, which was sold to an affiliate of Accenture on December 4, 2013, (2) Channel Intelligence, which was sold to Google on February 20, 2013, and (3) InvestorForce, which was sold to MSCI on January 29, 2013.  Businesses that were accounted for under the equity method of accounting and were disposed of during the year ended December 31, 2013 include the following: (1) WhiteFence, substantially all of the assets of which were acquired by Allconnect on October 28, 2013 and (2) Freeborders, which was acquired by Symbio S.A. (“Symbio”) on October 18, 2013. The results of those businesses (or our share of the results in the case of the equity-method businesses, including any related intangible amortization) were removed from our segments and are included in “Dispositions” in the segment information table below for all periods presented.

 

 

Segment Information

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciling Items

 

 

 

 

 

 

Vertical Cloud

 

 

Vertical Cloud

(Venture)

 

 

Total

Segment

 

 

Dispositions

 

 

Other (1)

 

 

Consolidated

 

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

19,029

 

 

$

-

 

 

$

19,029

 

 

$

-

 

 

$

-

 

 

$

19,029

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to

    ICG Group, Inc.

$

(6,012

)

 

$

(320

)

 

$

(6,332

)

 

$

1,315

 

 

$

(7,877

)

 

$

(12,894

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

13,476

 

 

$

-

 

 

$

13,476

 

 

$

-

 

 

$

-

 

 

$

13,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to

    ICG Group, Inc.

$

(4,964

)

 

$

(407

)

 

$

(5,371

)

 

$

2,448

 

 

$

(3,935

)

 

$

(6,858

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

37,451

 

 

$

-

 

 

$

37,451

 

 

$

-

 

 

$

-

 

 

$

37,451

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to

    ICG Group, Inc.

$

(10,626

)

 

$

(632

)

 

$

(11,258

)

 

$

1,363

 

 

$

(13,149

)

 

$

(23,044

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

$

25,021

 

 

$

429

 

 

$

25,450

 

 

$

-

 

 

$

-

 

 

$

25,450

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to

    ICG Group, Inc.

$

(10,776

)

 

$

(1,489

)

 

$

(12,265

)

 

$

30,132

 

 

$

(5,657

)

 

$

12,210

 

  

 

(1) The following table reflects the components of Net income (loss) attributable to ICG Group, Inc. included in Other (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

General and administrative

 

$

(9,375

)

 

$

(4,957

)

 

$

(15,926

)

 

$

(10,509

)

Impairment related and other

 

 

(763

)

 

 

(33

)

 

 

(763

)

 

 

(33

)

Corporate other income (loss) (Note 13)

 

 

653

 

 

 

(45

)

 

 

947

 

 

 

(103

)

Interest income

 

 

133

 

 

 

41

 

 

 

214

 

 

 

70

 

Income tax benefit (expense)

 

 

-

 

 

 

601

 

 

 

-

 

 

 

874

 

Noncontrolling interest (income) loss

 

 

1,475

 

 

 

458

 

 

 

2,379

 

 

 

4,044

 

 Net income (loss)

 

$

(7,877

)

 

$

(3,935

)

 

$

(13,149

)

 

$

(5,657

)

  

 

Vertical Cloud

 

 

Vertical Cloud (Venture)

 

 

Total Segment

 

 

Dispositions

 

 

Other

 

 

Consolidated Results

 

Assets as of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2014

$

181,892

 

 

$

15,446

 

 

$

197,338

 

 

$

-

 

 

$

304,088

 

 

$

501,426

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

$

179,801

 

 

$

15,879

 

 

$

195,680

 

 

$

-

 

 

$

334,038

 

 

$

529,718