Quarterly report pursuant to sections 13 or 15(d)

Segment Information - Reconciliation of EBITDA (Details)

v2.4.0.8
Segment Information - Reconciliation of EBITDA (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
Segment Reporting Information [Line Items]        
EBITDA, as adjusted $ 10,907 [1] $ 7,645 [1] $ 24,867 [2] $ 12,954 [2]
Interest income 50 49 90 93
Change in fair value of contingent consideration (144) 647 (121) 6,202
Loss on extinguishment of debt (3,754) 0 (3,754) 0
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) 0 (26) 0
Pre-tax loss (4,920) (4,939) (4,274) (7,310)
Independent Brokerage and Advisory Services
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted 12,446 [1] 8,371 [1] 24,742 [2] 14,835 [2]
Interest expense (3,969) (4,943) (8,925) (8,910)
Depreciation and amortization (3,646) (3,847) (7,330) (7,670)
Non-cash compensation expense (590) (438) (1,258) (966)
Pre-tax loss (1,242) (1,951) (13) (514)
Ladenburg
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted 3,323 [1],[3] 860 [1] 7,568 [2],[3] 1,149 [2]
Interest expense (65) (68) (68) (72)
Depreciation and amortization (206) (206) (412) (429)
Non-cash compensation expense (167) (220) (323) (492)
Pre-tax loss 2,886 365 6,766 57
Corporate
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted (4,862) [1],[3] (1,586) [1] (7,443) [2],[3] (3,030) [2]
Interest expense (842) (1,181) (2,119) (3,270)
Depreciation and amortization (18) (17) (35) (34)
Non-cash compensation expense (622) (569) (1,211) (1,133)
Pre-tax loss $ (6,564) [3],[4] $ (3,353) [5] $ (11,027) [3],[4] $ (6,853) [1]
[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 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
[4] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses
[5] 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).