Derivatives (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivatives Reported on Consolidated Statements of Financial Condition

The tables below present the fair values of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair values of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (see Note 14 of Notes to Consolidated Financial Statements) on the accompanying consolidated statements of financial condition as of December 31, 2014 and 2013:

	December 31,
	2014		2013
Derivative Assets:
Forward foreign currency exchange rate contracts	$	2,355	$	250
Total return swaps and other (a)		–		432
	$	2,355	$	682
Derivative Liabilities:
Forward foreign currency exchange rate contracts	$	124	$	1,579
Total return swaps and other (a)		663		–
LFI and other similar deferred compensation arrangements		207,306		162,422
	$	208,093	$	164,001

(a) For total return swaps, amounts represent the netting of gross derivative assets and liabilities of $1,123 and $1,786 as of December 31, 2014, respectively, and $2,019 and $1,587 as of December 31, 2013, respectively, for contracts with the same counterparty under legally enforceable master netting agreements. Such amounts are recorded “net” in “other assets”, with receivables for net cash collateral under such contracts of $12,364 and $11,384 as of December 31, 2014 and 2013, respectively.

Net Gains (Losses) with Respect to Derivative Instruments Not Designated as Hedging Instruments

Net gains (losses) with respect to derivative instruments (predominantly reflected in “revenue-other”) and the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements (included in “compensation and benefits” expense) as reflected on the accompanying consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012, were as follows:

	Year Ended December 31,
	2014			2013			2012
Forward foreign currency exchange rate contracts	$	22,959		$	(3,162	)	$	(1,844	)
LFI and other similar deferred compensation arrangements		(7,326	)		(14,099	)		(7,557	)
Total return swaps and other		(5,211	)		(10,931	)		(18,327	)
Total	$	10,422		$	(28,192	)	$	(27,728	)