Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2013

Discontinued Operations

Schedule of amounts reflected in the Consolidated Statements of Operations related to discontinued operations

	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands of dollars)	2013			2012			2013			2012
Net revenue
Investment Banking	$	—		$	1,499		$	15,034		$	14,762
MBS & Rates	(68		)	8,943			(4,412		)	34,556
Credit Products	485			18,804			13,049			58,393
ClearPoint	—			12,899			4,355			39,760
Equities division	—			11			76			54
Other items reclassified from continuing operations (Note 1)	2			799			572			4,381
Total net revenue	419			42,955			28,674			151,906
Total expenses (excluding restructuring expense)
Investment Banking	257			1,756			12,863			12,245
MBS & Rates	321			7,129			10,823			29,000
Credit Products	204			14,865			14,413			53,857
ClearPoint	63			13,423			6,499			45,638
Equities division	68			(22		)	187			(125		)
Other items reclassified from continuing operations (Note 1)	490			3,127			5,103			31,076
Total expenses (excluding restructuring expense)	1,403			40,278			49,888			171,691
(Loss)/income from discontinued operations before income taxes (excluding restructuring expense)
Investment Banking	(257		)	(257		)	2,171			2,517
MBS & Rates	(389		)	1,814			(15,235		)	5,556
Credit Products	281			3,939			(1,364		)	4,536
ClearPoint	(63		)	(524		)	(2,144		)	(5,878		)
Equities division	(68		)	33			(111		)	179
Other items reclassified from continuing operations	(488		)	(2,328		)	(4,531		)	(26,695		)
Subtotal	(984		)	2,677			(21,214		)	(19,785		)
Restructuring expense (Note 20)	(4,744		)	—			(50,830		)	—
(Loss)/income from discontinued operations before income taxes	(5,728		)	2,677			(72,044		)	(19,785		)
Income tax expense	—			—			—			1,802
(Loss)/income from discontinued operations, net of taxes	$	(5,728	)	$	2,677		$	(72,044	)	$	(21,587	)