View Filing Data

Cash and cash equivalents

21,988,000

17,761,000

Securities owned, at fair value

165,916,000

79,237,000

Receivable on derivatives, Consolidated Funds

2,520,000

893,000

Other investments

374,111,000

401,465,000

Receivable from brokers, Consolidated Funds

5,644,000

5,978,000

Other assets

388,000

511,000

Total Assets

3,296,252,000

2,018,523,000

Liabilities

Securities sold, not yet purchased, at fair value

342,527,000

266,090,000

Payable for derivative contracts, at fair value

42,750,000

20,762,000

Securities Loaned

456,831,000

Payable to brokers, dealers and clearing organizations

252,153,000

210,309,000

Payables to Customers

352,467,000

Commission management payable

70,451,000

3,590,000

Compensation payable

150,206,000

98,084,000

Notes payable and other debt

173,458,000

77,030,000

Convertible debt

141,502,000

130,029,000

Fees payable

8,047,000

3,272,000

Due to related parties

570,000

573,000

Accounts payable, accrued expenses and other liabilities

96,533,000

47,525,000

Securities sold, not yet purchased, at fair value, Consolidated Funds

^[1]

883,000

Payable for derivative contracts, at fair value, Consolidated Funds

7,130,000

572,000

Payable to brokers, Consolidated Funds

751,000

3,700,000

Contributions received in advance

2,000,000

Capital withdrawals payable

11,931,000

1,408,000

Accounts payable, accrued expenses and other liabilities

322,000

841,000

Total Liabilities

2,107,629,000

866,668,000

Commitments and Contingencies

Redeemable non-controlling interests

440,604,000

379,205,000

Additional paid-in capital

1,004,664,000

928,646,000

(Accumulated deficit) retained earnings

(70,116,000)

(2,442,000)

Accumulated other comprehensive income (loss)

(8,000)

(2,000)

Less: Class A common stock held in treasury, at cost, 10,593,191 and 9,810,802 shares as of June 30, 2017 and December 31, 2016, respectively.

(186,846,000)

(153,845,000)

Total Stockholders' Equity

748,019,000

772,650,000

Total Liabilities and Stockholders' Equity

3,296,252,000

2,018,523,000

Convertible Preferred Stock

Preferred stock

1,000

Common Stock Class A

Less: Class A common stock held in treasury, at cost, 10,593,191 and 9,810,802 shares as of June 30, 2017 and December 31, 2016, respectively.

Common stock

324,000

292,000

(186,846,000)

(153,845,000)

Common Stock Class B

Common stock

$ 0

[1]	As of December 31, 2016, maturities ranged from September 2019 to September 2023 and interest rates ranged from 4.38% to 9.25%.

Consolidated Statements of Financial Condition (Parenthetical) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Allowance for Uncollectible Customer's Liability for Acceptances	$ 1,550,000	$ 0
Allowance for Doubtful Accounts Receivable, Current	1,736,000	0
Assets
Fixed assets, accumulated depreciation and amortization (in dollars)	28,355,000	23,867,000
Intangible assets, accumulated amortization (in dollars)	$ 33,081,000	$ 29,418,000
Stockholders' equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	120,750	120,750
Preferred stock, shares outstanding	120,750	120,750
Preferred Stock, Liquidation Preference, Value	$ 120,750,000	$ 120,750,000
Common stock, shares authorized	125,000,000
Treasury Stock, Shares	12,133,276	9,810,802
Common Stock Class A
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	62,500,000	62,500,000
Common stock, shares issued	41,765,296	36,542,091
Common stock, shares outstanding	29,632,020	26,731,289
Common stock, restricted shares	191,962	162,176
Treasury Stock, Shares	12,133,276	9,810,802
Common Stock Class B
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	62,500,000	62,500,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Revenues

Investment banking

$ 223,614

$ 133,279

$ 222,781

Brokerage

293,610

199,180

157,722

Management fees

33,245

40,612

41,906

Incentive income

5,383

8,334

1,466

Reimbursement from affiliates

49,440

14,732

13,796

2,860

10,504

21,557

Aircraft lease revenue

3,751

4,161

Reinsurance premiums

30,996

32,459

Other revenue

8,561

22,355

3,726

Employee compensation and benefits

5,870

4,792

1,086

Other revenues

1,451

1,157

527

Total revenues

658,781

471,565

464,567

Expenses

404,087

310,038

321,386

Floor brokerage and trade execution

75,601

32,286

27,460

Professional, advisory and other fees

60,949

29,308

26,220

31,942

23,190

25,578

Service fees

14,999

7,918

7,535

Communications

23,460

17,768

14,325

Occupancy and equipment

35,184

32,286

29,055

Depreciation and amortization

13,078

12,713

9,498

Client services and business development

28,327

27,828

25,413

Reinsurance claims, commissions and amortization of deferred acquisition costs

30,486

29,904

Restructuring Costs

8,763

Other Expenses

18,196

14,815

15,594

Professional, advisory and other fees

9,836

6,434

1,104

1,145

1,148

654

Floor brokerage and trade execution

318

431

Other expenses

1,227

1,051

501

Total expenses

757,598

547,118

504,374

Other income (loss)

Net gains (losses) on securities, derivatives and other investments

76,179

23,381

36,789

Bargain purchase gain, net of tax

6,914

Gain (Loss) on Extinguishment of Debt

(16,039)