Segment Reporting

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

15. Segment Reporting

The Company operates as an ETP sponsor and asset manager providing investment advisory services in the U.S., Europe, Canada and Japan. These activities are reported in the Company’s U.S. Business and International Business reportable segments. The U.S. Business segment includes the results of the Company’s U.S. operations and Japan sales office. The results of the Company’s European and Canadian operations are reported as the International Business segment.

Information concerning these reportable segments are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Revenues (U.S. Business segment)
Advisory fees	$	54,749		$	49,568		$	159,416		$	162,721
Settlement gain		—			—			6,909			—
Other income		590			323			2,410			931
Total revenues (U.S. Business segment)	$	55,339		$	49,891		$	168,735		$	163,652
Revenues (International Business segment)
Advisory fees	$	2,825		$	1,985		$	7,534		$	5,378
Other loss		(178	)		(87	)		(256	)		(382	)
Total revenues (International Business segment)	$	2,647		$	1,898		$	7,278		$	4,996
Total revenues	$	57,986		$	51,789		$	176,013		$	168,648
Income/(loss) before taxes
U.S. Business segment	$	18,493		$	17,032		$	61,712		$	61,326
International Business segment		(2,997	)		(2,807	)		(9,169	)		(14,273	)
Total income before taxes	$	15,496		$	14,225		$	52,543		$	47,053

Assets are not reported by segment as such information is not utilized by the chief operating decision maker. The vast majority of the Company’s assets are located in the U.S.