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 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Segment Reporting Information [Line Items]        
EBITDA, as adjusted $ 12,768 [1] $ 6,308 [1] $ 37,635 [1] $ 19,262 [1]
Interest income 55 47 145 140
Change in fair value of contingent consideration 0 909 (121) 7,111
Loss on extinguishment of debt (446) 0 (4,200) 0
Interest expense (2,283) (6,148) (13,395) (18,400)
Depreciation and amortization (3,776) (3,979) (11,553) (12,112)
Non-cash compensation expense (1,647) (1,054) (4,439) (3,645)
Amortization of retention loans (1,690) (1,712) (5,339) (5,295)
Loss attributable to noncontrolling interest (23) 0 (49) 0
Pre-tax loss 2,958 (5,629) (1,316) (12,939)
Independent brokerage and advisory services
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted 12,819 7,701 [1] 37,562 [1] 22,534 [1]
Interest expense (1,906) (4,942) (10,830) (14,850)
Depreciation and amortization (3,550) (3,759) (10,880) (11,430)
Non-cash compensation expense (851) (244) (2,109) (1,210)
Pre-tax loss 4,428 (2,003) 4,414 (3,000)
Ladenburg
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted 2,697 83 [1] 10,268 [1],[2] 1,233 [1]
Interest expense (3) (3) (71) (75)
Depreciation and amortization (214) (203) (626) (631)
Non-cash compensation expense (163) (195) (486) (687)
Pre-tax loss 2,329 (317) 9,095 (160)
Corporate
        
Segment Reporting Information [Line Items]        
EBITDA, as adjusted (2,748) (1,476) [1] (10,195) [1],[2] (4,505) [1]
Interest expense (374) (1,203) (2,494) (3,475)
Depreciation and amortization (12) (17) (47) (51)
Non-cash compensation expense (633) (615) (1,844) (1,748)
Pre-tax loss $ (3,799) [3] $ (3,309) [3] $ (14,825) [2],[3] $ (9,779) [3]
[1] The following table reconciles EBITDA, as adjusted, to pre-tax income (loss) for the three and nine months ended September 30, 2013 and 2012: Three months ended September 30 Nine months ended September 30, EBITDA, as adjusted2013 2012 2013 2012Independent Brokerage and Advisory Services$12,819 $7,701 $37,562 $22,534Ladenburg2,697 83 10,268 1,233Corporate(2,748) (1,476) (10,195) (4,505)Total segments12,768 6,308 37,635 19,262 Adjustments: Interest income55 47 145 140Change in fair value of contingent consideration— 909 (121) 7,111Loss on extinguishment of debt(446) — (4,200) —Interest expense(2,283) (6,148) (13,395) (18,400)Depreciation and amortization(3,776) (3,979) (11,553) (12,112)Non-cash compensation expense(1,647) (1,054) (4,439) (3,645)Amortization of retention loans(1,690) (1,712) (5,339) (5,295)Loss attributable to noncontrolling interest(23) — (49) —Pre-tax income (loss)$2,958 $(5,629) $(1,316) $(12,939)
[2] Includes the elimination of $2,545, consisting of $5,148 of revenue net of employee brokerage commission expenses of $2,603 charged to additional paid-in capital related to sale of the Company's Series A Preferred Stock
[3] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses