Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2014

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

	Three Months Ended March 31,
(In thousands of dollars)	2014			2013
Net revenue
Investment Banking	$	—		$	15,033
MBS & Rates	—			(723		)
Credit Products	—			11,825
ClearPoint	—			4,408
Equities division	—			76
Other items reclassified from continuing operations (Note 1)	—			632
Total net revenue	—			31,251
Total expenses (excluding restructuring expense)
Investment Banking	147			11,688
MBS & Rates	118			7,533
Credit Products	142			12,242
ClearPoint	56			6,153
Equities division	6			42
Other items reclassified from continuing operations (Note 1)	—			2,821
Total expenses (excluding restructuring expense)	469			40,479
(Loss)/income from discontinued operations before income taxes (excluding restructuring expense)
Investment Banking	(147		)	3,345
MBS & Rates	(118		)	(8,256		)
Credit Products	(142		)	(417		)
ClearPoint	(56		)	(1,745		)
Equities division	(6		)	34
Other items reclassified from continuing operations	—			(2,189		)
Subtotal	(469		)	(9,228		)
Restructuring expense (Note 15)	—			(2,459		)
Loss from discontinued operations before income taxes	(469		)	(11,687		)
Income tax expense	48			46
Loss from discontinued operations, net of taxes	$	(517	)	$	(11,733	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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