Business Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Business Information

Note 18 — Business Information

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

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

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

The Company has principally earned its revenues from advisory fees earned from clients in large part upon the successful completion of the client’s transaction or restructuring, or fund closing. Advisory revenues represented approximately 100%, 102% and 100% of the Company’s total revenues for the years ended December 31, 2015, 2014 and 2013, respectively.

In 2015 and 2014, there were no advisory clients that accounted for more than 10% of total revenues. In 2013, there was one advisory client that accounted for approximately 10% of revenues (advice to Coventry Health Care, Inc. in connection with its sale to Aetna). The Company did not have any single gain on an investment that contributed more than 10% to total revenues in 2015, 2014 or 2013.

Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the enterprise taken as whole, not by geographic region. For reporting purposes, the geographic regions are the Americas, Europe, Australia, and Asia, locations in which the Company retains substantially all of its employees.

The following table presents information about the Company by geographic region, after elimination of all significant inter-company accounts and transactions:

	As of or for the Years Ended December 31,
	2015			2014			2013
	(in thousands)
Total revenues
Americas	$	172,582		$	160,633		$	160,082
Europe	63,875			83,369			84,360
Australia	17,589			26,149			34,868
Asia	7,514			5,083			7,842
Total	$	261,560		$	275,234		$	287,152
Income (loss) before taxes
Americas	$	37,346		$	32,642		$	32,741
Europe	9,577			26,818			31,872
Australia	(4,457		)	9,752			6,270
Asia	829			(1,742		)	323
Total	$	43,295		$	67,470		$	71,206
Total assets
Americas	$	256,967		$	168,853		$	144,462
Europe	44,609			33,460			54,772
Australia	114,934			128,861			149,534
Asia	7,328			6,476			4,678
Total	$	423,838		$	337,650		$	353,446