Discontinued Operations

9 Months Ended

Sep. 30, 2011

Discontinued Operations

Discontinued Operations

25. Discontinued Operations

The Company has classified the results of the Equities division as discontinued operations due to its decision to exit this business on August 22, 2011.  Refer to Note 24 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.

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2011*			2010			2011*			2010
Net revenues	$	2,595		$	5,181		$	12,794		$	15,685
Total expenses (excluding interest)	(11,395		)	(7,313		)	(38,802		)	(18,223		)
Loss from discontinued operations before income taxes	(8,800		)	(2,132		)	(26,008		)	(2,538		)
Income tax benefit	(3,443		)	(1,040		)	(6,997		)	(1,227		)
Loss from discontinued operations, net of taxes	$	(5,357	)	$	(1,092	)	$	(19,011	)	$	(1,311	)

*Included within the table above for the three months ended September 30, 2011 is a restructuring charge of $7.3 million.  In addition, the nine months ended September 30, 2011 also includes a goodwill and intangible impairment charge of approximately $14.3 million.