Annual report pursuant to Section 13 and 15(d)

Segment Information (Segment Information) (Details)

v2.4.1.9
Segment Information (Segment Information) (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Segment Reporting Information [Line Items]                      
Revenues $ 264,950us-gaap_Revenues $ 223,732us-gaap_Revenues $ 220,753us-gaap_Revenues $ 211,818us-gaap_Revenues $ 211,453us-gaap_Revenues $ 200,489us-gaap_Revenues $ 193,869us-gaap_Revenues $ 187,305us-gaap_Revenues $ 921,253us-gaap_Revenues $ 793,116us-gaap_Revenues $ 650,111us-gaap_Revenues
Income (loss) before income taxes 2,030us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (571)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 3,690us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 4,857us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 3,720us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 2,958us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (4,920)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 646us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 10,006us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 2,404us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (14,892)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
EBITDA, as adjusted                 61,178lts_EarningsBeforeInterestTaxesDepreciationAndAmortization [1] 57,203lts_EarningsBeforeInterestTaxesDepreciationAndAmortization [1] 35,828lts_EarningsBeforeInterestTaxesDepreciationAndAmortization [1],[2]
Identifiable assets 510,758us-gaap_Assets       360,820us-gaap_Assets       510,758us-gaap_Assets 360,820us-gaap_Assets 338,129us-gaap_Assets
Depreciation and amortization                 18,397us-gaap_DepreciationAndAmortization 15,315us-gaap_DepreciationAndAmortization 16,061us-gaap_DepreciationAndAmortization
Interest                 6,990us-gaap_InterestExpense 15,438us-gaap_InterestExpense 24,541us-gaap_InterestExpense
Capital expenditures                 7,447us-gaap_PaymentsToAcquirePropertyPlantAndEquipment 6,861us-gaap_PaymentsToAcquirePropertyPlantAndEquipment 5,477us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Non-cash compensation                 10,541us-gaap_ShareBasedCompensation 6,766us-gaap_ShareBasedCompensation 4,744us-gaap_ShareBasedCompensation
Independent brokerage and advisory services                      
Segment Reporting Information [Line Items]                      
Revenues                 816,581us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		723,246us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		[3] 598,851us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Income (loss) before income taxes                 10,520us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		4,850us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		(6,087)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
EBITDA, as adjusted                 50,596lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		[1] 52,549lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		[1] 35,890lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		[1]
Identifiable assets 350,225us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		      320,239us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		      350,225us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		320,239us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		318,005us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Depreciation and amortization                 14,978us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		14,475us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		15,158us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Interest                 5,460us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		12,527us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		19,803us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Capital expenditures                 6,058us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		4,898us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		5,356us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Non-cash compensation                 6,751us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		3,667us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember 		1,640us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_IndependentBrokerageAndAdvisoryServicesMember
Ladenburg                      
Segment Reporting Information [Line Items]                      
Revenues                 73,298us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		69,603us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		45,701us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Income (loss) before income taxes                 14,846us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		11,689us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		65us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
EBITDA, as adjusted                 16,174lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		[1] 13,188lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		[1] 1,829lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		[1]
Identifiable assets 39,845us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		      33,950us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		      39,845us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		33,950us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		17,636us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Depreciation and amortization                 665us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		791us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		835us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Interest                 67us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		75us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		79us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Capital expenditures                 1,002us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		1,963us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		115us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Non-cash compensation                 612us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		646us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember 		850us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_LadenburgThalmannAndCoIncMember
Insurance brokerage                      
Segment Reporting Information [Line Items]                      
Revenues                 26,164us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Income (loss) before income taxes                 (841)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
EBITDA, as adjusted                 2,315lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		[1] 0lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		[1] 0lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		[1]
Identifiable assets 67,941us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		      0us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		      67,941us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Depreciation and amortization                 2,743us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Interest                 297us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Capital expenditures                 253us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Non-cash compensation                 116us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember 		0us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= lts_WholesaleInsuranceMember
Corporate                      
Segment Reporting Information [Line Items]                      
Revenues                 5,210us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		267us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[4] 5,559us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
Income (loss) before income taxes                 (14,519)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[5] (14,135)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[5],[6] (8,870)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[5]
EBITDA, as adjusted                 (7,907)lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[1] (8,534)lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[1],[6] (1,891)lts_EarningsBeforeInterestTaxesDepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		[1]
Identifiable assets 52,747us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		      6,631us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		      52,747us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		6,631us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		2,488us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
Depreciation and amortization                 11us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		49us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		68us-gaap_DepreciationAndAmortization
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
Interest                 1,166us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		2,836us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		4,659us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
Capital expenditures                 134us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		6us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
Non-cash compensation                 $ 3,062us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		$ 2,453us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember 		$ 2,254us-gaap_ShareBasedCompensation
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_CorporateMember
[1] The following table reconciles EBITDA, as adjusted, to income (loss) before income taxes for the years ended December 31, 2014, 2013 and 2012: Year Ended December 31, EBITDA, as adjusted 2014 2013 2012 Independent Brokerage and Advisory Services $50,596 $52,549 $35,890 Ladenburg 16,174 13,188 1,829 Insurance Brokerage 2,315 — — Corporate (7,907) (8,534) (1,891) Total segments 61,178 57,203*35,828*Adjustments: Interest income 245 194 185 Change in fair value of contingent consideration 12 (121) 7,111 Loss on extinguishment of debt (548) (4,547) — Interest expense (6,990) (15,438) (24,541) Depreciation and amortization (18,397) (15,315) (16,061) Non-cash compensation expense (10,541) (6,766) (4,744) Amortization of retention and forgivable loans (11,041) (11,544) (11,664) Financial advisor acquisition expense (1,489) (1,194) (1,006) Acquisition-related expense (2,342) — — Loss attributable to noncontrolling interest (81) (68) — Income (loss) before income taxes $10,006 $2,404 $(14,892) * Includes increases of $5,578 in 2013 and $5,324 in 2012 related to amortization of forgivable loans and financial advisor acquisition expenses to conform to the 2014 presentation.
[2] Includes increases of $5,578 in 2013 and $5,324 in 2012 related to amortization of forgivable loans and financial advisor acquisition expenses to conform to the 2014 presentation.
[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 $5,148 of revenue referred to in footnote (2).
[5] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses.
[6] 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.