Segment Operating Results (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment’s contribution.

	For the Years Ended December 31,
	2013		2012			2011
Investment Banking
Net Revenues (1)	$	670,785	$	565,219		$	428,124
Operating Expenses	516,921		444,510			337,886
Other Expenses (2)	33,740		50,774			55,591
Operating Income	120,124		69,935			34,647
Income from Equity Method Investments	2,906		2,258			1,101
Pre-Tax Income from Continuing Operations	$	123,030	$	72,193		$	35,748
Identifiable Segment Assets	$	693,890	$	624,977		$	530,008
Investment Management
Net Revenues (1)	$	94,643	$	77,154		$	96,140
Operating Expenses	81,885		78,876			89,269
Other Expenses (2)	2,707		2,678			5,706
Operating Income (Loss)	10,051		(4,400		)	1,165
Income (Loss) from Equity Method Investments	5,420		2,594			(182		)
Pre-Tax Income (Loss) from Continuing Operations	$	15,471	$	(1,806	)	$	983
Identifiable Segment Assets	$	486,893	$	520,241		$	513,584
Total
Net Revenues (1)	$	765,428	$	642,373		$	524,264
Operating Expenses	598,806		523,386			427,155
Other Expenses (2)	36,447		53,452			61,297
Operating Income	130,175		65,535			35,812
Income from Equity Method Investments	8,326		4,852			919
Pre-Tax Income from Continuing Operations	$	138,501	$	70,387		$	36,731
Identifiable Segment Assets	$	1,180,783	$	1,145,218		$	1,043,592

(1) Net revenues include Other Revenue, net, allocated to the segments as follows:

	For the Years Ended December 31,
	2013			2012			2011
Investment Banking (A)	$	3,979		$	(3,019	)	$	(2,473	)
Investment Management (B)	(1,116		)	(2,636		)	(3,021		)
Total Other Revenue, net	$	2,863		$	(5,655	)	$	(5,494	)

(A) Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $4,386, $4,312 and $4,238for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $5,524 for the year ended December 31, 2013.

(B) Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $3,702, $3,643 and $3,579for the years ended December 31, 2013, 2012 and 2011, respectively, and changes in amounts due pursuant to the Company's tax receivable agreement of $1,381 for the year ended December 31, 2013.

(2) Other Expenses are as follows:

	For the Years Ended December 31,
	2013		2012		2011
Investment Banking
Amortization of LP Units and Certain Other Awards	$	17,817	$	18,601	$	21,328
Vesting of Event-based Awards	—		—		8,906
Acquisition Related Compensation Charges	15,923		28,163		14,618
Special Charges	—		662		3,894
Intangible Asset Amortization	—		3,348		6,845
Total Investment Banking	33,740		50,774		55,591
Investment Management
Amortization of LP Units and Certain Other Awards	2,209		2,350		2,892
Vesting of Event-based Awards	—		—		2,483
Special Charges	170		—		—
Intangible Asset Amortization	328		328		331
Total Investment Management	2,707		2,678		5,706
Total Other Expenses	$	36,447	$	53,452	$	61,297

Revenues Derived from Clients and Private Equity Funds by Geographical Areas

The Company’s revenues were derived from clients and private equity funds located and managed in the following geographical areas:

	For the Years Ended December 31,
	2013		2012		2011
Net Revenues: (1)
United States	$	532,615	$	452,594	$	387,063
Europe and Other	145,267		151,261		112,049
Latin America	84,683		44,173		30,646
Total	$	762,565	$	648,028	$	529,758

(1) Excludes Other Revenue and Interest Expense.