Quarterly report pursuant to sections 13 or 15(d)

Segment Information - Segment Information (Details)

v2.4.0.8
Segment Information - Segment Information (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Segment Reporting Information [Line Items]          
Revenues $ 193,869 $ 163,385 $ 381,174 $ 318,100  
Pre-tax (loss) income (4,920) (4,939) (4,274) (7,310)  
EBITDA, as adjusted 10,907 [1] 7,645 [1] 24,867 [2] 12,954 [2]  
Identifiable assets 356,613 340,345 356,613 340,345 338,129
Depreciation and amortization 3,870 4,070 7,777 8,133  
Interest 4,876 6,192 11,112 12,252  
Capital expenditures 2,125 2,094 3,037 2,795  
Non-cash compensation 1,379 1,227 2,792 2,591  
Commissions 98,971 83,662 192,038 163,332  
Series A Preferred Stock [Member]
          
Segment Reporting Information [Line Items]          
Commissions 5,148        
Series A Preferred Stock [Member] | Employee brokerage commission expenses [Member]
          
Segment Reporting Information [Line Items]          
Commissions 2,603        
Independent Brokerage and Advisory Services
          
Segment Reporting Information [Line Items]          
Revenues 181,780 [3] 149,988 351,617 [3] 293,792  
Pre-tax (loss) income (1,242) (1,951) (13) (514)  
EBITDA, as adjusted 12,446 [1] 8,371 [1] 24,742 [2] 14,835 [2]  
Identifiable assets 312,075 313,912 312,075 313,912  
Depreciation and amortization 3,646 3,847 7,330 7,670  
Interest 3,969 4,943 8,925 8,910  
Capital expenditures 1,655 2,087 2,485 2,777  
Non-cash compensation 590 438 1,258 966  
Independent Brokerage and Advisory Services | Series A Preferred Stock [Member]
          
Segment Reporting Information [Line Items]          
Commissions 908        
Ladenburg
          
Segment Reporting Information [Line Items]          
Revenues 17,165 [3] 13,322 34,565 [3] 24,198  
Pre-tax (loss) income 2,886 365 6,766 57  
EBITDA, as adjusted 3,323 [1],[4] 860 [1] 7,568 [2],[4] 1,149 [2]  
Identifiable assets 37,405 24,346 37,405 24,346  
Depreciation and amortization 206 206 412 429  
Interest 65 68 68 72  
Capital expenditures 470 0 552 11  
Non-cash compensation 167 220 323 492  
Ladenburg | Series A Preferred Stock [Member]
          
Segment Reporting Information [Line Items]          
Commissions 4,240        
Ladenburg | Series A Preferred Stock [Member] | Employee brokerage commission expenses [Member]
          
Segment Reporting Information [Line Items]          
Commissions 2,545        
Corporate
          
Segment Reporting Information [Line Items]          
Revenues (5,076) [1] 75 (5,008) [1] 110  
Pre-tax (loss) income (6,564) [4],[5] (3,353) [3] (11,027) [4],[5] (6,853) [1]  
EBITDA, as adjusted (4,862) [1],[4] (1,586) [1] (7,443) [2],[4] (3,030) [2]  
Identifiable assets 7,133 2,087 7,133 2,087  
Depreciation and amortization 18 17 35 34  
Interest 842 1,181 2,119 3,270  
Capital expenditures 0 7 0 7  
Non-cash compensation $ 622 $ 569 $ 1,211 $ 1,133  
[1] Includes the elimination of $5,148 of revenue referred to in (1).
[2] The following table reconciles EBITDA, as adjusted, to pre-tax loss for the three and six months ended June 30, 2013 and 2012: Three months ended June 30 Six months ended June 30, EBITDA, as adjusted2013 2012 2013 2012Independent Brokerage and Advisory Services$12,446 $8,371 $24,742 $14,835Ladenburg3,323 860 7,568 1,149Corporate(4,862) (1,586) (7,443) (3,030)Total segments10,907 7,645 24,867 12,954 Adjustments: Interest income50 49 90 93Change in fair value of contingent consideration(144) 647 (121) 6,202Loss on extinguishment of debt(3,754) — (3,754) —Interest expense(4,876) (6,192) (11,112) (12,252)Depreciation and amortization(3,870) (4,070) (7,777) (8,133)Non-cash compensation expense(1,379) (1,227) (2,792) (2,591)Amortization of retention loans(1,841) (1,791) (3,649) (3,583)Loss attributable to noncontrolling interest(13) — (26) —Pre-tax loss$(4,920) $(4,939) $(4,274) $(7,310)
[3] Includes brokerage commissions of $4,240 and $908 in the Ladenburg and Independent brokerage and advisory services segments, respectively, related to the sale of the Company's Series A Preferred Stock (eliminated in consolidation).
[4] Includes the elimination of $2,545, consisting of $5,148 of revenue net of employee brokerage commission expenses of $2,603 related to sale of the Company's Series A Preferred Stock
[5] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses