Annual report pursuant to section 13 and 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 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]                      
EBITDA, as adjusted                 $ 51,625 $ 30,504 $ 8,422 [1]
Interest income                 194 185 70
Change in fair value of contingent consideration 0 0 (144) 23 0 909 647 5,555 (121) 7,111 0
Loss on extinguishment of debt                 (4,547) 0 0
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                 0 0 (2,971)
Loss attributable to noncontrolling interest 19 23 13 13         (68) 0 0
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)
Independent brokerage and advisory services
                      
Segment Reporting Information [Line Items]                      
EBITDA, as adjusted                 46,971 [2] 30,566 [2] 12,181 [1],[2]
Interest expense                 (12,527) [2] (19,803) [2] (3,191) [2]
Depreciation and amortization                 (14,475) [2] (15,158) [2] (4,567) [2]
Non-cash compensation expense                 (3,667) [2] (1,640) [2] (1,072) [2]
Pre-tax income (loss)                 4,850 [2] (6,087) [2] 1,787 [2]
Ladenburg
                      
Segment Reporting Information [Line Items]                      
EBITDA, as adjusted                 13,188 [3] 1,829 (1,032) [1]
Interest expense                 (75) (79) (89)
Depreciation and amortization                 (791) (835) (996)
Non-cash compensation expense                 (646) (850) (1,014)
Pre-tax income (loss)                 11,689 65 (3,131)
Corporate
                      
Segment Reporting Information [Line Items]                      
EBITDA, as adjusted                 (8,534) [3] (1,891) (2,727) [1]
Interest expense                 (2,836) (4,659) (3,263)
Depreciation and amortization                 (49) (68) (69)
Non-cash compensation expense                 (2,453) (2,254) (1,928)
Pre-tax income (loss)                 $ (14,135) [3],[4] $ (8,870) [4] $ (10,958) [4]
[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] 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.
[4] Includes interest on revolving credit and forgivable loan notes, compensation, professional fees and other general and administrative expenses.