Earnings / (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2012

Earnings / (Loss) Per Common Share [Abstract]

Schedule of Earnings / (Loss) Per Common Share

EARNINGS / (LOSS) PER COMMON SHARE

(Dollars in Thousands, except share or per share information)

	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Net income / (loss) attributable to IFMI	$	(2,078	)	$	(3,371	)	$	(5,937	)	$	(2,996	)
Add / (deduct): Income / (loss) attributable to the non-controlling interest attributable to Operating LLC membership units exchangeable into IFMI shares (1)		(981	)		(1,633	)		(2,883	)		(1,595	)
Add /(deduct): Adjustment for income tax benefit / (expense) (2)		(23	)		6			(39	)		150
Net income / (loss) on a fully converted basis	$	(3,082	)	$	(4,998	)	$	(8,859	)	$	(4,441	)
Weighted average common shares outstanding—Basic		10,756,257			10,901,448			10,600,004			10,860,702
Unrestricted Operating LLC membership units exchangeable into IFMI shares (1)		5,252,002			5,283,556			5,252,002			5,283,556
Weighted average common shares outstanding—Diluted (3)		16,008,259			16,185,004			15,852,006			16,144,258
Net income / (loss) per common share—Basic	$	(0.19	)	$	(0.31	)	$	(0.56	)	$	(0.28	)
Net income / (loss) per common share—Diluted	$	(0.19	)	$	(0.31	)	$	(0.56	)	$	(0.28	)

(1) The Operating LLC membership units not held by IFMI (that is, those held by the non-controlling interest for the three and six months ended June 30, 2012 and 2011) may be redeemed and exchanged into shares of the Company on a one-to-one basis. These units are not included in the computation of basic earnings per share. These units enter into the computation of diluted net income / (loss) per common share when the effect is dilutive using the if-converted method.

(2) If the Operating LLC membership units had been converted at the beginning of the period, the Company would have incurred a higher income tax expense or realized a higher income tax benefit, as applicable.

(3) Due to the net loss for the three and six months ended June 30, 2012, the weighted average shares calculation excluded (i) restricted Operating LLC membership units of 0 and 11,628 for the three and six months ended June 30, 2012, respectively; (ii) restricted shares of IFMI Common Stock of 21,879 and 17,412 for the three and six months ended June 30, 2012, respectively; and (iii) restricted units of IFMI’s Common Stock of 0 and 2,554 for the three and six months ended June 30, 2012 , respectively.