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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating Activities:    
Net income $ 19,510 $ 32,115
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization of fixed assets 4,300 5,436
Deferred income taxes 5,933 6,056
Loss on sale of FAMCO 1,876 0
Share-based and deferred compensation 11,012 14,532
Amortization of intangible assets 6,221 5,751
Amortization of forgivable loans 4,827 6,077
Decrease/(increase) in operating assets:    
Cash and cash equivalents segregated for regulatory purposes 5,999 (8,003)
Receivables:    
Customers (17,580) 6,600
Brokers, dealers and clearing organizations (94,186) (44,790)
Securities purchased under agreements to resell (81,990) 71,983
Net financial instruments and other inventory positions owned (163,710) (389,491)
Other receivables (3,409) (17,827)
Other assets (13,021) (22,804)
Payables:    
Customers (1,229) 21,988
Brokers, dealers and clearing organizations 65,071 115,867
Securities sold under agreements to repurchase 36,915 0
Accrued compensation (26,425) (7,084)
Other liabilities and accrued expenses (23,566) 1,079
Decrease/(increase) in assets held for sale 605 (1,556)
Increase/(decrease) in liabilities held for sale (465) 2,286
Net cash used in operating activities (263,312) (201,785)
Investing Activities:    
Business acquisitions, net of cash acquired (24,726) 0
Sale of FAMCO 250 0
Purchases of fixed assets, net (3,257) (420)
Net cash used in investing activities (27,733) (420)
Financing Activities:    
Increase in short-term financing 186,275 277,771
Decrease in bank syndicated financing 0 (31,512)
Decrease in securities sold under agreements to repurchase (8,001) (59,080)
Increase in noncontrolling interests 91,192 11,080
Repurchase of common stock (69,947) (42,514)
Excess tax benefit from share-based compensation 39 0
Net cash provided by financing activities 199,558 155,745
Currency adjustment:    
Effect of exchange rate changes on cash 77 (10)
Net decrease in cash and cash equivalents (91,410) (46,470)
Cash and cash equivalents at beginning of period 105,371 85,024
Cash and cash equivalents at end of period 13,961 38,554
Supplemental disclosure of cash flow information –    
Interest 27,694 20,756
Income taxes 2,870 (1,784)
Non-cash financing activities –    
Issuance of common stock for retirement plan obligations: 96,049 shares and 165,241 for the nine months ended September 30, 2013 and 2012, respectively 3,939 3,814
Issuance of restricted common stock for annual equity award: 431,582 shares and 487,181 shares for the nine months ended September 30, 2013 and 2012, respectively $ 17,699 $ 11,244