Business Information

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Business Information

Business Information

The Company's activities as an investment banking firm constitute 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 and six month periods ended June 30, 2013 and 2012, respectively:

	For the Three Months Ended
	June 30, 2013				June 30, 2012
	Amount	% of Total			Amount	% of Total
	(in millions, unaudited)
Advisory revenues	$83.1		96	%	$45.1		95	%
Investment revenues	3.6		4	%	2.2		5	%
Total revenues	$86.7		100	%	$47.3		100	%

	For the Six Months Ended
	June 30, 2013				June 30, 2012
	Amount	% of Total			Amount	% of Total
	(in millions, unaudited)
Advisory revenues	$164.5		99	%	$118.4		91	%
Investment revenues	1.8		1	%	11.6		9	%
Total revenues	$166.3		100	%	$130.0		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.