Restructuring (Tables)

6 Months Ended

Jun. 30, 2013

	Three Months Ended			Six Months Ended
(In thousands of dollars)	June 30, 2013			June 30, 2013
Cash Charges:
Investment Banking
Severance compensation	$	1,417		$	1,417
Third party vendor contracts and other costs	262			262
Subtotal — Investment Banking (cash charges):	1,679			1,679
Fixed Income businesses
Severance compensation	8,061			8,061
Third party vendor contracts and other costs	5,643			5,643
Subtotal — Fixed Income (cash charges):	13,704			13,704
ClearPoint
Severance and other compensation	—			1,263
Third party vendor contracts and other costs	(48		)	113
Subtotal — ClearPoint (cash charges):	(48		)	1,376
Other
Severance compensation	669			669
Reserve for lease commitments	16,755			16,755
Subtotal — Other (cash charges):	17,424			17,424
Total — Cash Charges:	$	32,759		$	34,183
Non-Cash Charges:
Investment Banking
Intangible asset impairment	$	2,932		$	2,932
Stock-based compensation vesting	254			254
Subtotal — Investment Banking (non-cash charges):	3,186			3,186
Fixed Income businesses
Goodwill & intangible asset impairment	388			388
Stock-based compensation vesting	3,681			3,681
Subtotal — Fixed Income (non-cash charges):	4,069			4,069
ClearPoint
Intangible asset impairment	—			587
Deferred compensation and other charges	—			448
Subtotal — ClearPoint (non-cash charges):	—			1,035
Other
Stock-based compensation vesting	138			138
Impairment of fixed assets and leasehold improvements	3,475			3,475
Subtotal — Other (non-cash charges)	3,613			3,613
Total — Non-Cash Charges:	$	10,868		$	11,903
Restructuring expenses — Total:	$	43,627		$	46,086

Schedule of changes in the company's liability related to restructuring

(In thousands of dollars)
Balance — January 1, 2013	$	—
Restructuring expense	46,086
Plus: Deferred rent obligation, prior to restructuring	1,750
Less: Non-cash charges	(11,903		)
Payments for severance and other compensation	(11,091		)
Payments for third party vendor contracts and other costs	(1,200		)
Payments for lease commitments	—
Restructuring reserve — June 30, 2013	$	23,642

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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