Discontinued Operations

12 Months Ended

Dec. 31, 2011

Discontinued Operations

Discontinued Operations

NOTE 26. Discontinued Operations

        The Company has classified the results of the Equities division as discontinued operations due to its exiting this business on August 22, 2011. Refer to Note 25 herein for additional information.

        Amounts reflected in the Consolidated Statements of Operations related to the Equities division are presented in the following table. No gain or loss has been recognized.

	For years ending December 31,
(In thousands)	2011*			2010			2009
Net revenues	$	13,064		$	22,302		$	23,229
Total expenses (excluding interest expense)		(38,808	)		(30,137	)		(22,591	)
(Loss)/income from discontinued operations before income taxes		(25,744	)		(7,835	)		638
Income tax (benefit)/expense		(7,704	)		(3,219	)		317
(Loss)/income from discontinued operations, net of taxes	$	(18,040	)	$	(4,616	)	$	321

*

Included within the table above for the year ended December 31, 2011 is (i) a restructuring charge of $7.1 million and (ii) a goodwill and intangible impairment charge of approximately $14.3 million.