Commitments and Contingent Liabilities (Tables)

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Payments Under Capital Leases

The future minimum payments including interest under the capitalized leases at March 31, 2017 consist of (in thousands):

	Minimum Payments
Nine months ending December 31, 2017	$	5,625
Year ending December 31, 2018	7,272
Year ending December 31, 2019	7,272
Year ending December 31, 2020	1,103
Total	$	21,272

Schedule of Interest Expense, Capital Leases

The total interest expense related to capital leases for the three months ended March 31, 2017 and 2016 included in Debt interest expense on the Consolidated Statements Operations is as follows (in thousands):

	For the three months ended March 31,
	2017		2016
Interest expense - Capital leases	$	24	$	24

Schedule of Future Minimum Rental Commitments for Operating Leases

As of March 31, 2017, 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
Nine months ending December 31, 2017	$	22,057	$	4,573	$	17,484
Year ending December 31, 2018	27,978		5,850		22,128
Year ending December 31, 2019	25,031		5,229		19,802
Year ending December 31, 2020	23,310		4,056		19,254
Year ending December 31, 2021	22,771		4,039		18,732
Thereafter through December 31, 2031	154,234		10,096		144,138
Total	$	275,381	$	33,843	$	241,538

Activity in Liability Account Related to Office Space Consolidation

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 three months ended March 31, 2017			For the year ended December 31, 2016
Balance as of beginning of period	$	14,251		$	18,892
Real estate charges incurred	—			390
Payments made, net	(1,566		)	(3,750		)
Other charges	884			(1,281		)
Balance as of end of period	$	13,569		$	14,251