Business Information

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Business Information

Business Information

The Company's activities as an investment banking firm constitutes one business segment, with two principal sources of revenue:

•     Advisory, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private equity and real estate capital advisory services; and

• Investment, which includes the Company's principal investments in merchant banking funds, Iridium and other investments and interest.

The following provides a breakdown of our revenues by source for the three month periods ended March 31, 2013 and 2012, respectively:

	For the Three Months Ended
	March 31, 2013					March 31, 2012
	Amount		% of Total			Amount	% of Total
	(in millions, unaudited)
Advisory revenues	$81.4			102	%	$73.3		89	%
Investment revenues	(1.9	)		(2	)%	$9.4		11	%
Total revenues	$79.5			100	%	$82.7		100	%

In reporting to management, the Company distinguishes the sources of its revenues between advisory and investment revenues. However, management does not evaluate other financial data or operating results such as operating expenses, profit and loss or assets by its advisory and investment activities.