Segment Operating Results (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information provides a reasonable representation of each segment’s contribution.

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2013		2012			2013		2012
Investment Banking
Net Revenues (1)	$	182,605	$	153,164		$	314,201	$	236,949
Operating Expenses	138,389		118,683			243,455		197,659
Other Expenses (2)	9,456		11,898			19,311		28,005
Operating Income	34,760		22,583			51,435		11,285
Income (Loss) from Equity Method Investments	290		(33		)	460		1,595
Pre-Tax Income	$	35,050	$	22,550		$	51,895	$	12,880
Identifiable Segment Assets	$	562,690	$	486,481		$	562,690	$	486,481
Investment Management
Net Revenues (1)	$	24,841	$	19,333		$	44,667	$	38,346
Operating Expenses	20,943		20,065			41,750		39,315
Other Expenses (2)	596		656			1,346		1,264
Operating Income (Loss)	3,302		(1,388		)	1,571		(2,233		)
Income from Equity Method Investments	725		752			1,311		1,509
Pre-Tax Income (Loss)	$	4,027	$	(636	)	$	2,882	$	(724	)
Identifiable Segment Assets	$	470,273	$	487,377		$	470,273	$	487,377
Total
Net Revenues (1)	$	207,446	$	172,497		$	358,868	$	275,295
Operating Expenses	159,332		138,748			285,205		236,974
Other Expenses (2)	10,052		12,554			20,657		29,269
Operating Income	38,062		21,195			53,006		9,052
Income from Equity Method Investments	1,015		719			1,771		3,104
Pre-Tax Income	$	39,077	$	21,914		$	54,777	$	12,156
Identifiable Segment Assets	$	1,032,963	$	973,858		$	1,032,963	$	973,858

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

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2013			2012			2013			2012
Investment Banking (A)	$	(849	)	$	(1,262	)	$	(636	)	$	(1,972	)
Investment Management (B)	(897		)	(703		)	(2,610		)	(1,454		)
Total Other Revenue, net	$	(1,746	)	$	(1,965	)	$	(3,246	)	$	(3,426	)

(A) Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $1,095 and $2,183for the three and six months ended June 30, 2013, respectively, and $1,075 and $2,145for the three and six months ended June 30, 2012, respectively.

(B) Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $924 and $1,843for the three and six months ended June 30, 2013, respectively, and $909 and $1,813for the three and six months ended June 30, 2012, respectively.

(2) Other Expenses are as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2013		2012		2013		2012
Investment Banking
Amortization of LP Units and Certain Other Awards	$	4,300	$	4,495	$	9,209	$	8,711
Acquisition Related Compensation Charges	5,156		6,352		10,102		15,997
Special Charges	—		662		—		662
Intangible Asset Amortization	—		389		—		2,635
Total Investment Banking	9,456		11,898		19,311		28,005
Investment Management
Amortization of LP Units and Certain Other Awards	514		574		1,182		1,100
Intangible Asset Amortization	82		82		164		164
Total Investment Management	596		656		1,346		1,264
Total Other Expenses	$	10,052	$	12,554	$	20,657	$	29,269

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 Three Months Ended June 30,				For the Six Months Ended June 30,
	2013		2012		2013		2012
Net Revenues: (1)
United States	$	157,595	$	131,406	$	248,451	$	201,067
Europe and Other	36,146		35,309		75,617		59,631
Latin America	15,451		7,747		38,046		18,023
Total	$	209,192	$	174,462	$	362,114	$	278,721

(1) Excludes Other Revenue and Interest Expense.