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Segment Information
 12 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
Segment Information

The Company provides services through three segments: Financial Advisory, Alternative Asset Advisory and Investment Banking. The Financial Advisory segment provides services associated with the Valuation Advisory, Tax Services and Dispute & Legal Management Consulting business units. The Alternative Asset Advisory segment provides services related to the Portfolio Valuation, Complex Asset Solutions and Transaction Advisory Services business units. The Investment Banking segment provides services from the M&A Advisory, Transaction Opinions and Global Restructuring Advisory business units.
 
 
 
Year Ended
 
 
 
December 31,
2012
 
December 31,
2011
 
December 31,
2010
 
Financial Advisory
 
 
 
 
 
 
 
Revenue (excluding reimbursables)
 
$
271,947

 
$
250,888

 
$
231,281

 
Segment operating income
 
$
50,778

 
$
45,212

 
$
29,819

 
Segment operating income margin
 
18.7
%
 
18.0
%
 
12.9
%
 
 
 
 
 
 
 
 
 
Alternative Asset Advisory
 
 
 
 
 
 
 
Revenue (excluding reimbursables)
 
$
57,050

 
$
55,666

 
$
44,035

 
Segment operating income
 
$
12,759

 
$
12,890

 
$
9,208

 
Segment operating income margin
 
22.4
%
 
23.2
%
 
20.9
%
 
 
 
 
 
 
 
 
 
Investment Banking
 
 
 
 
 
 
 
Revenue (excluding reimbursables)
 
$
140,167

 
$
77,386

 
$
90,230

 
Segment operating income
 
$
20,409

 
$
6,767

 
$
22,061

 
Segment operating income margin
 
14.6
%
 
8.7
%
 
24.4
%
 
 
 
 
 
 
 
 
 
Totals
 
 
 
 
 
 
 
Revenue (excluding reimbursables)
 
$
469,164

 
$
383,940

 
$
365,546

 
 
 
 
 
 
 
 
 
Segment operating income
 
$
83,946

 
$
64,869

 
$
61,088

 
Net client reimbursable expenses
 
(197
)
 
(139
)
 
(62
)
 
Equity-based compensation associated with Legacy Units and IPO Options
 
(22
)
 
(207
)
 
(3,399
)
 
Depreciation and amortization
 
(18,138
)
 
(11,164
)
 
(9,916
)
 
Acquisition retention expenses
 
(9,536
)
 
(1,624
)
 
(11
)
 
Restructuring charges
 
(1,796
)
 
(4,090
)
 
—

 
Acquisition, integration and corporate development costs
 
(6,865
)
 
(2,372
)
 
(704
)
 
Charge from realignment of senior management
 
—

 
—

 
(3,100
)
 
Charge from impairment of certain intangible assets
 
—

 
—

 
(674
)
 
Operating income
 
$
47,392

 
$
45,273

 
$
43,222



Revenue attributable to geographic area is summarized as follows:
 
 
 
Year Ended
 
 
 
December 31,
2012
 
December 31,
2011
 
December 31,
2010
 
North America
 
$
398,756

 
$
344,801

 
$
326,039

 
Europe
 
64,958

 
35,261

 
36,132

 
Asia
 
5,450

 
3,878

 
3,375

 
Revenue (excluding reimbursables)
 
$
469,164

 
$
383,940

 
$
365,546



There was no intersegment revenue during the periods presented. Long-lived assets attributable to international operations totaled $7,916 and $2,393 at December 31, 2012 and 2011, respectively. The Company does not maintain separate balance sheet information by segment.

For segment reporting purposes, management uses certain estimates and assumptions to allocate revenue and expenses. Revenues and expenses attributable to reportable segments are generally based on which segment and product line a client service professional is a dedicated member. As a result, revenue recognized that relates to the cross utilization of client service professionals across reportable segments occurs each period depending on the expertise required for each engagement. In the years ended December 31, 2012, 2011 and 2010, the Financial Advisory segment (primarily Valuation Advisory services) recognized revenue of $10,554, $11,824 and $9,544 from the cross utilization of its client service professionals on engagements from the Alternative Asset Advisory segment (primarily Portfolio Valuation services), respectively.