COST SAVING INITIATIVES AND 2010 RESTRUCTURING PLAN (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Pre-tax Implementation Expense

The Company’s consolidated statement of operations for the quarter and year ended December 31, 2012 includes pre-tax implementation expense, by segment, as reflected in the table below:


	Financial Advisory		Asset Management		Corporate		Total
Compensation and benefits	$	76,133	$	12,056	$	11,798	$	99,987
Other		1,399		733		457		2,589

Total	$	77,532	$	12,789	$	12,255	$	102,576

Activity related to the obligation pursuant to the Cost Saving Initiatives during 2012 was as follows:


	Accrued Compensation and Benefits			Other Liabilities			Total
Balance, October 1, 2012	$	–		$	–		$	–
New charges		99,987			2,589			102,576
Less:
Non-cash charges		(22,360	)		–			(22,360	)
Settlements		(31,499	)		(875	)		(32,374	)

Balance, December 31, 2012	$	46,128		$	1,714		$	47,842

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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