Income Taxes	3 Months Ended
Mar. 31, 2013
Income Taxes	Note 17 – Income Taxes The Company’s Provision (Benefit) for Income Taxes was $7,322 and ($4,638) for the three months ended March 31, 2013 and 2012, respectively. The effective tax rate was 47% and 48% for the three months ended March 31, 2013 and 2012, respectively. The effective tax rate for 2013 and 2012 reflects the effect of certain nondeductible expenses, including the vesting of LP Units, as well as the noncontrolling interest associated with LP Units and other adjustments. The Company reported a decrease in deferred tax assets of ($278) associated with changes in Unrealized Gain (Loss) on Marketable Securities and an increase of $292 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss) for the three months ended March 31, 2013. As of March 31, 2013, the Company increased the balance of unrecognized tax benefits by $526, of which $474 of unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company does not anticipate a significant change in unrecognized tax positions as a result of the settlement of income tax audits for examining the Company’s income tax returns during the upcoming year. The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations. Related to the unrecognized tax benefits, the Company recognized approximately $115 of interest and penalties during the three months ended March 31, 2013. The Company has approximately $165 accrued for the payment of interest and penalties as of March 31, 2013. The Company consolidated Pan on March 15, 2013. As of March 31, 2013, Pan contributed an additional $1,349 in deferred tax assets to the Unaudited Condensed Consolidated Statement of Financial Condition, with a full valuation allowance against these deferred tax assets. See Note 8 for further information.

Income Taxes

3 Months Ended

Mar. 31, 2013

Note 17 – Income Taxes

The Company’s Provision (Benefit) for Income Taxes was $7,322 and ($4,638) for the three months ended March 31, 2013 and 2012, respectively. The effective tax rate was 47% and 48% for the three months ended March 31, 2013 and 2012, respectively. The effective tax rate for 2013 and 2012 reflects the effect of certain nondeductible expenses, including the vesting of LP Units, as well as the noncontrolling interest associated with LP Units and other adjustments.

The Company reported a decrease in deferred tax assets of ($278) associated with changes in Unrealized Gain (Loss) on Marketable Securities and an increase of $292 associated with changes in Foreign Currency Translation Adjustment Gain (Loss), in Accumulated Other Comprehensive Income (Loss) for the three months ended March 31, 2013.

As of March 31, 2013, the Company increased the balance of unrecognized tax benefits by $526, of which $474 of unrecognized tax benefits that, if recognized, would affect the effective tax rate. The Company does not anticipate a significant change in unrecognized tax positions as a result of the settlement of income tax audits for examining the Company’s income tax returns during the upcoming year.

The Company classifies interest relating to tax matters and tax penalties as a component of income tax expense in its Unaudited Condensed Consolidated Statements of Operations. Related to the unrecognized tax benefits, the Company recognized approximately $115 of interest and penalties during the three months ended March 31, 2013. The Company has approximately $165 accrued for the payment of interest and penalties as of March 31, 2013.

The Company consolidated Pan on March 15, 2013. As of March 31, 2013, Pan contributed an additional $1,349 in deferred tax assets to the Unaudited Condensed Consolidated Statement of Financial Condition, with a full valuation allowance against these deferred tax assets. See Note 8 for further information.