Acquisitions

12 Months Ended

Dec. 31, 2012

Business Combination Disclosure [Text Block]

Acquisitions

2012 Acquisitions

On October 4, 2012, the Company acquired certain assets of iEnvision Technology, an advisory firm that assists law firms and corporate legal departments with implementation of document and data management systems. On October 18, 2012, the Company acquired the ownership interests of Ceteris US, LLC, an independent provider of transfer pricing and valuation advisory services.

Subject to the completion of working capital settlements, the aggregated fair value of the purchase price totaled $19,383 and comprised cash, Class A common stock and contingent consideration. Allocation of the purchase price included $3,175 of net tangible assets, $6,620 of intangible assets and $9,588 of goodwill. The goodwill was assigned to the Financial Advisory segment and is expected to be deductible for tax purposes.

Pro forma results of operations and other disclosures have not been presented because the acquisitions were not material in relation to the Company's consolidated financial position or results of operations for the periods presented.

2011 Acquisitions

Acquisition of MCR

On October 31, 2011, the Company acquired certain assets of MCR and its subsidiaries, a United Kingdom-based partnership specializing in insolvency, turnaround and restructuring services ("MCR"). The addition of MCR enhances the Company's global restructuring advisory capabilities and expands its presence in Europe. The acquisition included 126 client service professionals, including 19 partners and directors. Its results have been included in the consolidated financial statements as part of the Investment Banking segment since the date of acquisition. Revenue and operating income totaled $28,520 and $1,967 during the year ended December 31, 2012, respectively.

The fair value of the purchase price totaled $42,080 and comprised cash, Class A common stock and contingent consideration. The fair value of the contingent consideration will be recalculated each reporting period with any resulting gains or losses being recorded in the Consolidated Statement of Operations. An expense of $575 was recorded to "Aquisition, integration and corporate development costs" to reflect the change in fair value of the estimated contingent consideration payable during the year ended December 31, 2012.

Allocation of the purchase price included $13,864 of net tangible assets, $7,710 of intangible assets and $20,506 of goodwill. The intangible assets acquired include customer relationships and non-compete agreements. The goodwill was assigned to the Investment Banking segment and is expected to be deductible for tax purposes.

Other Acquisitions

On June 30, 2011, the Company acquired Growth Capital Partners and its subsidiaries, a Houston-based investment banking firm focused on transactions in the middle market. The addition of Growth Capital Partners complements the Company's energy, mining and infrastructure expertise, and expands its presence in the southwest United States. The acquisition included 20 client service professionals, including seven managing directors. Its results have been included in the consolidated financial statements as part of the Investment Banking segment since the date of acquisition.

Effective December 9, 2011, the Company acquired the Toronto-based restructuring and insolvency practice from the RSM Richter group. The acquisition enhances the Company's global restructuring capabilities by expanding its presence into Canada. The acquisition added 12 client service professionals, including four managing directors. Its results have been included in the Company's Consolidated Statement of Operations as part of the Investment Banking segment since the date of acquisition.

Effective December 30, 2011, the Company acquired Pagemill Partners, a Silicon Valley-based investment banking firm. Pagemill provides M&A, private placement advisory and related services to global technology companies in the middle market, as well as emerging organizations. This acquisition enhances the Company's technical capabilities and industry expertise. The acquisition added 22 client service professionals, including 10 managing directors. Its results have been included in the Company's Consolidated Statement of Operations as part of the Investment Banking segment beginning January 1, 2012.

Aggregated revenue and operating income totaled $27,553 and $4,635 during the year ended December 31, 2012, respectively.

The aggregate fair value of the purchase price of these other acquisitions totaled $44,732 and comprised cash, Class A common stock and contingent consideration. The fair value of the contingent consideration will be recalculated each reporting period with any resulting gains or losses being recorded in the Consolidated Statement of Operations. An expense of $700 was recorded to "Aquisition, integration and corporate development costs" to reflect the change in fair value of the estimated contingent consideration payable during the year ended December 31, 2012, respectively.

Allocation of the purchase price included $2,226 of net tangible assets, $7,789 of intangible assets and $34,717 of goodwill. The intangible assets acquired include customer relationships and non-compete agreements. The goodwill was assigned to the Investment Banking segment and is expected to be deductible for tax purposes.

Pro Forma Information (Unaudited)

The following table summarizes certain supplemental unaudited pro forma financial information which was prepared as if the acquisitions described above had occurred as of January 1, 2010. The unaudited pro forma financial information was prepared for comparative purposes only and does not purport to be indicative of what would have occurred had the acquisition been made at that time or of results which may occur in the future.



	Year Ended
	December 31, 2011		December 31, 2010
Revenue	$	441,767	$	431,909
Reimbursable expenses	14,773		11,252
Total revenue	$	456,540	$	443,161

Net income attributable to Duff & Phelps Corporation	$	23,259	$	18,567

Net income per share attributable to stockholders of Class A common stock of Duff & Phelps Corporation
Basic	$	0.77	$	0.65
Diluted	$	0.74	$	0.63

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Duff & Phelps Corp 10-K