Annual report pursuant to section 13 and 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 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Segment Reporting Information [Line Items]                      
Revenues $ 211,453 $ 200,489 $ 193,869 $ 187,305 $ 172,177 $ 159,834 $ 163,385 $ 154,715 $ 793,116 $ 650,111 $ 273,600
Pre-tax income (loss) 3,720 2,958 (4,920) 646 (1,953) (5,629) (4,939) (2,371) 2,404 (14,892) (12,302)
EBITDA, as adjusted                 51,625 30,504 8,422 [1]
Identifiable assets 360,820       338,129       360,820 338,129 347,145
Depreciation and amortization                 15,315 16,061 5,632
Interest                 15,438 24,541 6,543
Capital expenditures                 6,861 5,477 1,439
Non-cash compensation                 6,766 4,744 4,014
Independent brokerage and advisory services
                      
Segment Reporting Information [Line Items]                      
Revenues                 723,246 [2],[3] 598,851 [2] 230,897 [2]
Pre-tax income (loss)                 4,850 [2] (6,087) [2] 1,787 [2]
EBITDA, as adjusted                 46,971 [2] 30,566 [2] 12,181 [1],[2]
Identifiable assets 320,239 [2]       318,005 [2]       320,239 [2] 318,005 [2] 322,245 [2]
Depreciation and amortization                 14,475 [2] 15,158 [2] 4,567 [2]
Interest                 12,527 [2] 19,803 [2] 3,191 [2]
Capital expenditures                 4,898 [2] 5,356 [2] 1,381 [2]
Non-cash compensation                 3,667 [2] 1,640 [2] 1,072 [2]
Ladenburg
                      
Segment Reporting Information [Line Items]                      
Revenues                 69,603 [3] 45,701 41,459
Pre-tax income (loss)                 11,689 65 (3,131)
EBITDA, as adjusted                 13,188 [4] 1,829 (1,032) [1]
Identifiable assets 33,950       17,636       33,950 17,636 18,437
Depreciation and amortization                 791 835 996
Interest                 75 79 89
Capital expenditures                 1,963 115 58
Non-cash compensation                 646 850 1,014
Corporate
                      
Segment Reporting Information [Line Items]                      
Revenues                 267 [5] 5,559 1,244
Pre-tax income (loss)                 (14,135) [4],[6] (8,870) [6] (10,958) [6]
EBITDA, as adjusted                 (8,534) [4] (1,891) (2,727) [1]
Identifiable assets 6,631       2,488       6,631 2,488 6,463
Depreciation and amortization                 49 68 69
Interest                 2,836 4,659 3,263
Capital expenditures                 0 6 0
Non-cash compensation                 $ 2,453 $ 2,254 $ 1,928
[1] Year Ended December 31,EBITDA, as adjusted 2013 2012 2011Independent Brokerage and Advisory Services $46,971 $30,566 $12,181Ladenburg 13,188 1,829 (1,032)Corporate (8,534) (1,891) (2,727)Total segments 51,625 30,504 8,422Adjustments: Interest income 194 185 70Change in fair value of contingent consideration (121) 7,111 —Loss on extinguishment of debt (4,547) — —Interest expense (15,438) (24,541) (6,543)Depreciation and amortization (15,315) (16,061) (5,632)Non-cash compensation expense (6,766) (4,744) (4,014)Amortization of retention loans (7,160) (7,346) (1,634)Acquisition-related expense — — (2,971)Loss attributable to noncontrolling interest (68) — —Pre-tax income (loss) $2,404 $(14,892) $(12,302)
[2] Includes Securities America from November 4, 2011.
[3] ncludes 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 charged to additional paid-in capital related to sale of the Company's Series A Preferred Stock.
[5] Includes the elimination of $5,148 of revenue referred to in footnote (1).
[6] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses.