Discontinued Operations

12 Months Ended

Dec. 31, 2012

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 the 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)	2012			2011			2010
Net revenues	$	54		$	13,064		$	22,302
Total expenses (excluding interest)		(349	)		38,808	*		30,137
Income/(loss) from discontinued operations before income taxes		403			(25,744	)		(7,835	)
Income tax expense/(benefit)		138			(7,704	)		(3,219	)
Income/(loss) from discontinued operations, net of taxes	$	265		$	(18,040	)	$	(4,616	)

*

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.