XML 42 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Reported Revenue and Profit Before Income Taxes
The table below presents information about the reported revenue and income (loss) before income taxes from continuing operations of the Company for the three months ended March 31, 2017 and 2016. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the chief operating decision maker.
(Expressed in thousands)
 
 
 
 
For the Three Months Ended March 31,
 
2017
 
2016
Revenue
 
 
 
Private client (1)
$
137,389

 
$
127,544

Asset management (1)
18,666

 
22,974

Capital markets
55,903

 
61,065

Corporate/Other
1,303

 
3,373

Total
$
213,261

 
$
214,956

Income (loss) before income taxes
 
 
 
Private client (1)
$
28,762

 
$
16,317

Asset management (1)
3,711

 
6,768

Capital markets
(12,614
)
 
(6,798
)
Corporate/Other
(26,884
)
 
(23,627
)
Total
$
(7,025
)
 
$
(7,340
)
(1)
Clients investing in the OAM advisory program are charged fees based on the value of assets under management. Advisory fees were allocated 22.5% to the Asset Management and 77.5% to the Private Client segments. Starting January 1, 2017, the Company determined it was appropriate to change the allocation to 10.0% to the Asset Management and 90.0% to the Private Client segments starting due to changes in the mix of the business over time and costs associated with it.
Revenue Classified by Major Geographic Areas
Revenue, classified by the major geographic areas in which it was earned for the three months ended March 31, 2017 and 2016 was as follows:
(Expressed in thousands)
 
 
 
 
 For the Three Months Ended March 31,
 
2017
 
2016
Americas
$
203,663

 
$
203,469

Europe/Middle East
8,460

 
10,592

Asia
1,138

 
895

Total
$
213,261

 
$
214,956