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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net profit for the period $ 6,199 $ 19,226
Non-cash items included in net profit:    
Depreciation and amortization 6,437 6,007
Deferred income tax 2,177 8,960
Amortization of notes receivable 10,140 10,005
Amortization of debt issuance costs 571 391
Amortization of intangibles 2,163 2,162
Provision for credit losses (286) 359
Share-based compensation 2,720 (408)
Decrease (increase) in operating assets:    
Cash and securities segregated for regulatory and other purposes (38,052) (28,814)
Deposits with clearing organizations (1,830) (9,710)
Receivable from brokers and clearing organizations (57,060) 77,364
Receivable from customers 1,437 (16,857)
Income taxes receivable 1,824 (8,667)
Securities purchased under agreement to resell (215,412) (267,103)
Securities owned (680,609) (155,031)
Notes receivable (10,404) (13,587)
Other 36,805 (13,485)
Increase (decrease) in operating liabilities:    
Drafts payable (22,765) (10,917)
Payable to brokers and clearing organizations 23,905 (30,976)
Payable to customers 153,570 8,173
Securities sold under agreement to repurchase 777,999 308,419
Securities sold, but not yet purchased 21,422 50,131
Accrued compensation (58,966) (61,102)
Accounts payable and other liabilities 12,528 48,789
Cash used in operating activities (25,487) (76,671)
Cash flows from investing activities:    
Purchase of office facilities (3,013) (5,607)
Cash used in investing activities (3,013) (5,607)
Cash flows from financing activities:    
Cash dividends paid on Class A non-voting and Class B voting common stock (3,003) (2,932)
Issuance of Class A non-voting common stock 337 2,002
Tax shortfall from share-based compensation (1,624) (104)
Senior secured note issuance 200,000  
Senior secured credit note repayments (22,503) (1,000)
Subordinate note repayment (100,000)  
Increase (decrease) in bank call loans, net 12,000 62,400
Cash provided by financing activities 85,207 60,366
Net increase (decrease) in cash and cash equivalents 56,707 (21,912)
Cash and cash equivalents, beginning of period 52,854 68,918
Cash and cash equivalents, end of period 109,561 47,006
Schedule of non-cash investing and financing activities:    
Employee share plan issuance 10,392 1,765
Supplemental disclosure of cash flow information:    
Cash paid during the periods for interest 13,345 10,189
Cash paid during the periods for income taxes $ 4,087 $ 8,020