Commitments and Contingent Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments Under Capital Leases

The future minimum payments including interest under the capitalized leases at September 30, 2016 consist of (in thousands):

	Minimum Payments
Three months ended December 31, 2016	$	532
2017	620
Total	$	1,152

Schedule of Interest Expense, Capital Leases

The total interest expense related to capital leases for the three and nine months ended September 30, 2016 and 2015 included in Debt interest expense on the Consolidated Statements Operations is as follows (in thousands):

	For the three months   ended September 30,				For the nine months   ended September 30,
	2016		2015		2016		2015
Interest expense - Capital leases	$	15	$	38	$	56	$	160

Schedule of Future Minimum Rental Commitments for Operating Leases

As of September 30, 2016, future minimum rental commitments under all noncancelable office, computer and equipment leases (“Gross Lease Obligations”), and sublease income were as follows (in thousands):

	Gross Lease Obligations		Sublease Income		Net Lease Obligations
Three months ending December 31, 2016	$	5,717	$	1,452	$	4,265
Year ending December 31, 2017	28,549		5,144		23,405
Year ending December 31, 2018	26,872		4,791		22,081
Year ending December 31, 2019	24,318		4,131		20,187
Year ending December 31, 2020	22,918		2,957		19,961
Thereafter through December 31, 2031	175,323		10,348		164,975
Total	$	283,697	$	28,823	$	254,874

Activity in Liability Accounts Related to Lease Losses and Lease Terminations

The activity in the liability accounts related to the Company’s lease losses and lease terminations for its U.S. leases are recorded in Accrued expenses and other liabilities on the Consolidated Statements of Financial Condition as follows (in thousands):

	For the nine months ended September 30, 2016			For the year ended December 31, 2015
Balance as of beginning of period	$	18,892		$	5,897
Real estate charges incurred	—			23,186
Payments made, net	(459		)	(8,921		)
Interest accretion	(3,949		)	(1,270		)
Balance as of end of period	$	14,484		$	18,892