%PDF-1.5 1 0 obj <> endobj 3 0 obj <> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 757.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.50 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 144.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 180.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 216.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 252.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 288.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 324.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 360.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 396.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 432.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 468.00 757.50 Td ( ) Tj ET Q q 0 0 0 rg BT 504.00 757.50 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 24.25 Td (1) Tj ET Q BT /F3 15.00 Tf ET q 0 0 0 rg BT 92.15 736.10 Td (Piper Jaffray Companies Reports First Quarter ) Tj ET Q BT /F3 15.00 Tf ET q 0 0 0 rg BT 428.08 736.10 Td (2019) Tj ET Q BT /F3 15.00 Tf ET q 0 0 0 rg BT 461.45 736.10 Td ( Results ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 715.10 Td (MINNEAPOLISApril 26, 2019Piper Jaf) Tj ET Q q 0 0 0 rg BT 216.46 715.10 Td (fray Companies \(NYSE: PJC\) today announced its results for the first quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 703.10 Td (ended March 31, 2019. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 683.60 Td ("W) Tj ET Q q 0 0 0 rg BT 48.81 683.60 Td (e started 2019 strong, highlighted by advisory services and improved performance in fixed income brokerage," said ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 670.10 Td (Chad R. ) Tj ET Q q 0 0 0 rg BT 74.91 670.10 Td (Abraham, chief executive of) Tj ET Q q 0 0 0 rg BT 198.13 670.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 216.47 670.10 Td (. "These results drove a meaningful increase in our operating performance year-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 656.60 Td (over-year) Tj ET Q q 0 0 0 rg BT 77.68 656.60 Td (.") Tj ET Q 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 272.50 620.10 54.00 -12.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 428.50 620.10 54.00 -12.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 272.50 608.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 428.50 608.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 272.50 595.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 428.50 595.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 272.50 582.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 428.50 582.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 272.50 569.10 54.00 -13.00 re f /GS0 gs 0.8470588235294118 0.9215686274509803 0.9450980392156862 rg /GS0 gs 428.50 569.10 54.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 633.1 m 326.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 633.1 m 330.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 633.1 m 375.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 633.1 m 420.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 633.1 m 428.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 633.1 m 482.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 633.1 m 486.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 633.1 m 531.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 633.1 m 576.5 633.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 620.1 m 330.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 620.1 m 375.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 620.1 m 420.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 620.1 m 486.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 620.1 m 531.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 620.1 m 576.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 620.1 m 272.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 620.1 m 326.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 620.1 m 326.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 620.1 m 428.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 620.1 m 482.5 608.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 620.1 m 482.5 620.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 608.1 m 272.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 608.1 m 326.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 595.1 m 326.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 595.1 m 375.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 595.1 m 420.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 608.1 m 428.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 608.1 m 482.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 595.1 m 482.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 595.1 m 531.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 595.1 m 576.5 595.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 595.1 m 272.5 582.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 595.1 m 326.5 582.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 595.1 m 428.5 582.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 595.1 m 482.5 582.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 582.1 m 272.5 569.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 582.1 m 326.5 569.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 582.1 m 428.5 569.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 582.1 m 482.5 569.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 569.1 m 272.5 556.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 569.1 m 326.5 556.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 556.1 m 326.5 556.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 569.1 m 428.5 556.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 569.1 m 482.5 556.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 556.1 m 482.5 556.1 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.75 636.32 Td (First Quarter 2019 Results) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.50 623.32 Td (U.S. GAAP) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.10 623.32 Td (Adjusted \(1\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 39.00 599.28 Td (\(Dollars in millions, except per share data\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.30 610.37 Td (Q1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.05 610.37 Td (vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.05 610.37 Td (vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.30 610.37 Td (Q1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.05 610.37 Td (vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.05 610.37 Td (vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.85 598.32 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.20 598.32 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.20 598.32 Td (Q1-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.85 598.32 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.20 598.32 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.20 598.32 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 585.32 Td (Net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.00 585.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.60 585.37 Td (191.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.60 585.32 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.10 585.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.95 585.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.10 585.32 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.00 585.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.60 585.32 Td (191.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.60 585.32 Td (-14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 585.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.95 585.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 585.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 572.32 Td (Net income applicable to Piper Jaf) Tj ET Q q 0 0 0 rg BT 190.66 572.32 Td (fray Companies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.00 572.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.15 572.32 Td (19.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.50 572.32 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.10 572.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.95 572.32 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.10 572.32 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.00 572.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.15 572.32 Td (23.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.60 572.32 Td (-23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 572.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.50 572.32 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 572.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 559.32 Td (Earnings per diluted common share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.00 559.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.15 559.32 Td (1.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.50 559.32 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.10 559.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.40 559.32 Td (181) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.10 559.32 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.00 559.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.15 559.32 Td (1.57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.60 559.32 Td (-21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 559.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.95 559.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 559.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 8.00 Tf ET q 0 0 0 rg BT 36.00 544.00 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 47.70 544.00 Td (A) Tj ET Q q 0 0 0 rg BT 52.74 544.00 Td ( non-U.S. GAAP) Tj ET Q q 0 0 0 rg BT 110.69 544.00 Td ( \("non-GAAP"\) measure. For a detailed explanation of the adjustments made to the corresponding U.S. GAAP) Tj ET Q q 0 0 0 rg BT 498.95 544.00 Td ( measures, see ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 36.00 534.40 Td ("Reconciliation of U.S. GAAP) Tj ET Q q 0 0 0 rg BT 139.48 534.40 Td ( to Selected Summary Financial Information." W) Tj ET Q q 0 0 0 rg BT 309.35 534.40 Td (e believe that presenting our results and measures on an adjusted basis in ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 36.00 524.80 Td (conjunction with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 134.86 524.80 Td ( measures provides the most meaningful basis for comparison of our operating results across periods. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 499.3 m 576.5 499.3 l s BT /F5 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 39.00 503.23 Td (FINANCIAL & BUSINESS HIGHLIGHTS) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 484.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 484.80 Td (Net revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.37 484.80 Td ($192 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.74 484.80 Td ( in the quarter reflect a strong start to the year driven by advisory services and fixed income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 472.80 Td (sales and trading. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 457.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 457.80 Td (Advisory services generated revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.93 457.80 Td ($1) Tj ET Q q 0 0 0 rg BT 252.31 457.80 Td (15 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.55 457.80 Td (, or 60% of total net revenues, and we believe our full year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 445.80 Td (pipeline remains strong. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 430.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 430.80 Td (Fixed income sales and trading registered a strong quarter with revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.90 430.80 Td ($24 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.71 430.80 Td (, up meaningfully over the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 418.80 Td (prior year periods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 403.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 403.80 Td (Recognized with the 2019 Industrials Deal of the ) Tj ET Q q 0 0 0 rg BT 262.17 403.80 Td (Y) Tj ET Q q 0 0 0 rg BT 267.92 403.80 Td (ear award by ) Tj ET Q q 0 0 0 rg BT 328.33 403.80 Td (The M&A) Tj ET Q q 0 0 0 rg BT 369.46 403.80 Td ( ) Tj ET Q q 0 0 0 rg BT 371.68 403.80 Td (Advisor in the 1) Tj ET Q q 0 0 0 rg BT 439.87 403.80 Td (1th ) Tj ET Q q 0 0 0 rg BT 456.00 403.80 Td (Annual International ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 391.80 Td (A) Tj ET Q q 0 0 0 rg BT 51.49 391.80 Td (wards. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 366.3 m 576.5 366.3 l s BT /F5 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 39.00 370.23 Td (STRATEGIC UPDATES) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 351.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 351.80 Td (During the quarter) Tj ET Q q 0 0 0 rg BT 125.05 351.80 Td (, we announced the signing of a definitive agreement for the acquisition of W) Tj ET Q q 0 0 0 rg BT 463.41 351.80 Td (eeden & Co. L.P) Tj ET Q q 0 0 0 rg BT 535.50 351.80 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 339.80 Td (\("W) Tj ET Q q 0 0 0 rg BT 61.14 339.80 Td (eeden & Co."\), an execution broker-dealer for institutional clients. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 324.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 324.80 Td (Client reactions have been positive as clients see the value proposition in combining W) Tj ET Q q 0 0 0 rg BT 442.98 324.80 Td (eeden & Co.'s highly ranked ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 312.80 Td (execution platform and our strong research platform.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 297.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 297.80 Td (Personnel from both firms are working collaboratively toward a smooth integration.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 282.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 282.80 Td (Acquisition expected to close early in the third quarter of 2019, subject to the satisfaction of customary closing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 270.80 Td (conditions. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 245.29999999999995 m 576.5 245.29999999999995 l s BT /F5 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 39.00 249.23 Td (TALENT) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 230.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 230.80 Td (Continued expanding our investment banking platform with the hiring of two managing directors during the quarter; one ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 218.80 Td (in each of technology and financial services. ) Tj ET Q q 0 0 0 rg BT 243.27 218.80 Td (This was our fourth consecutive quarter of a net increase to our managing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 206.80 Td (director headcount, which was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.29 206.80 Td (91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.42 206.80 Td ( at the end of the quarter) Tj ET Q q 0 0 0 rg BT 302.39 206.80 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 191.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 191.80 Td (Strengthened distribution of our specialty sector financings by adding a senior trader and underwriter as co-head of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 179.80 Td (high yield and structured products desk. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 164.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 164.80 Td (Added a senior public finance banker in Pennsylvania, a targeted growth market in our continued ef) Tj ET Q q 0 0 0 rg BT 483.98 164.80 Td (forts to expand our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 152.80 Td (state and local government practice. ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 36.5 127.29999999999995 m 576.5 127.29999999999995 l s BT /F5 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 39.00 131.23 Td (CAPITAL RETURNED) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 112.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 112.80 Td (Returned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.92 112.80 Td ($59.6 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.06 112.80 Td ( to shareholders during the quarter through dividends and share repurchases.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 97.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 97.80 Td (Aggregate dividends paid during the quarter of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.98 97.80 Td ($19.9 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.12 97.80 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.35 97.80 Td ($1.39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.37 97.80 Td ( per share, included our special annual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 85.80 Td (dividend of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.65 85.80 Td ($1.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.67 85.80 Td ( per share and our regular quarterly dividend of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.91 85.80 Td ($0.375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.49 85.80 Td ( per share.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 70.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 70.80 Td (Repurchased approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.79 70.80 Td (564,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.94 70.80 Td ( shares of common stock, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.32 70.80 Td ($39.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.46 70.80 Td (, at an average price of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.52 70.80 Td ($70.47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.11 70.80 Td ( per ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 58.80 Td (share during the first quarter of 2019.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 43.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 43.80 Td (Declared a quarterly cash dividend of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.87 43.80 Td ($0.375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.46 43.80 Td ( per share to be paid to shareholders of record as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.37 43.80 Td (May 24, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.97 43.80 Td (.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 539.75 43.80 Td ( ) Tj ET Q /GS0 gs q 104.00 0 0 22.00 38.50 757.50 cm /I1 Do Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (2) Tj ET Q BT /F5 16.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 36.00 726.60 Td (SELECTED FINANCIAL DATA) Tj ET Q BT /F3 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 701.40 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 97.13 701.40 Td ( Results and Commentary) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 681.90 Td (The following summarizes our results on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 275.91 681.90 Td ( basis:) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 626.40 239.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 626.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 337.50 626.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 341.50 626.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 403.50 626.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 407.50 626.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 626.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 473.50 626.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 523.50 626.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 527.50 626.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 596.40 239.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 596.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 337.50 596.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 341.50 596.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 403.50 596.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 407.50 596.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 596.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 473.50 596.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 523.50 596.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 527.50 596.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 566.40 239.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 566.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 337.50 566.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 341.50 566.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 403.50 566.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 407.50 566.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 566.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 473.50 566.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 523.50 566.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 527.50 566.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 536.40 239.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 536.40 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 337.50 536.40 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 341.50 536.40 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 403.50 536.40 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 407.50 536.40 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 536.40 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 473.50 536.40 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 523.50 536.40 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 527.50 536.40 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 507.40 239.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 507.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 337.50 507.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 341.50 507.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 403.50 507.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 407.50 507.40 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 507.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 473.50 507.40 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 523.50 507.40 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 527.50 507.40 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 654.4 m 337.5 654.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 654.4 m 341.5 654.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 654.4 m 403.5 654.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 654.4 m 407.5 654.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 654.4 m 469.5 654.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 640.4 m 523.5 640.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 640.4 m 527.5 640.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 640.4 m 577.5 640.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 626.4 m 337.5 626.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 626.4 m 403.5 626.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 626.4 m 469.5 626.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 640.4 m 523.5 640.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 626.4 m 523.5 626.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 640.4 m 577.5 640.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 626.4 m 577.5 626.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 626.4 m 577.5 626.4 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 658.62 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 39.00 630.58 Td (\(Dollars in thousands, except per share data\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.65 644.62 Td (Mar) Tj ET Q q 0 0 0 rg BT 305.16 644.62 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 353.05 644.62 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 644.62 Td (Mar) Tj ET Q q 0 0 0 rg BT 437.16 644.62 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.45 644.62 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.85 630.62 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.85 630.62 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 426.85 630.62 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.10 630.62 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.10 630.62 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 616.02 Td (Net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 616.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.95 616.02 Td (191,832) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 616.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.95 616.02 Td (224,371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 616.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.95 616.02 Td (169,062) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.60 616.02 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 616.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.95 616.02 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 616.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 601.02 Td (Compensation and benefits expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 601.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.95 601.02 Td (122,636) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 601.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.95 601.02 Td (142,952) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 601.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.95 601.02 Td (1) Tj ET Q q 0 0 0 rg BT 429.51 601.02 Td (15,170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.60 601.02 Td (-14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 601.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.50 601.02 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 601.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 586.02 Td (Non-compensation expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 586.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.50 586.02 Td (46,266) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 586.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 586.02 Td (49,474) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 586.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 586.02 Td (45,854) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.20 586.02 Td (-6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 586.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.50 586.02 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 586.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 571.02 Td (Pre-tax operating income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 571.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.50 571.02 Td (22,930) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 571.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 571.02 Td (31,945) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 571.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.05 571.02 Td (8,038) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.60 571.02 Td (-28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 571.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.40 571.02 Td (185) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 571.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 556.02 Td (Net income applicable to Piper Jaf) Tj ET Q q 0 0 0 rg BT 190.66 556.02 Td (fray Companies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 556.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.50 556.02 Td (19,422) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 556.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 556.02 Td (18,184) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 556.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 556.02 Td (10,603) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 556.02 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 556.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.95 556.02 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 556.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 541.02 Td (Earnings per diluted common share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.00 541.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 541.02 Td (1.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 541.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.60 541.02 Td (1.21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.00 541.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 541.02 Td (0.47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 541.02 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.10 541.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.40 541.02 Td (181) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.10 541.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 512.02 Td (Compensation ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 512.02 Td (63.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.10 512.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.60 512.02 Td (63.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.10 512.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 512.02 Td (68.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.10 512.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 497.02 Td (Non-compensation ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 497.02 Td (24.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.10 497.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.60 497.02 Td (22.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.10 497.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 497.02 Td (27.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.10 497.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 482.02 Td (Pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 482.02 Td (12.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.10 482.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.60 482.02 Td (14.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.10 482.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 482.02 Td (4.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.10 482.02 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 455.40 Td (Compensation ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.90 455.40 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.79 455.40 Td (63.9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.15 455.40 Td ( in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.17 455.40 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.74 455.40 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.63 455.40 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.88 455.40 Td ( declined compared to the prior year period due to lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 441.90 Td (acquisition-related compensation. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 419.40 Td (Non-compensation expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.92 419.40 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.82 419.40 Td ($46.3 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.96 419.40 Td ( in the current quarter declined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.37 419.40 Td (6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.83 419.40 Td ( on a sequential basis primarily due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 405.90 Td (lower reimbursed deal expenses resulting from decreased equity financing activity) Tj ET Q q 0 0 0 rg BT 397.67 405.90 Td (. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 383.40 Td (Net income and earnings per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.72 383.40 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.62 383.40 Td ($19.4 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.76 383.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.00 383.40 Td ($1.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.02 383.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 377.64 383.40 Td (, in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.43 383.40 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.00 383.40 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.90 383.40 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 383.40 Td ( increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 369.90 Td (compared to both the sequential quarter and year-ago period. Results in the fourth quarter of 2018 were impacted by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 356.40 Td (increased income tax expense related to a deferred tax asset valuation allowance in the United Kingdom. Compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 342.90 Td (the year-ago period, results increased driven by higher revenues and improved operating leverage. ) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I2 Do Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (3) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 729.30 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 97.78 729.30 Td ( Results and Commentary) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 709.80 Td (Throughout the press release we present financial measures that are not prepared in accordance with U.S. generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 696.30 Td (accepted accounting principles \("U.S. GAAP"\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 676.80 Td (The non-GAAP) Tj ET Q q 0 0 0 rg BT 103.63 676.80 Td ( financial measures include adjustments to exclude: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 663.30 Td (\(1\) revenues and expenses related to noncontrolling interests, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 649.80 Td (\(2\) amortization of intangible assets related to acquisitions, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 636.30 Td (\(3\) compensation and non-compensation expenses from acquisition-related agreements,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 622.80 Td (\(4\) the impact from remeasuring deferred tax assets resulting from changes to the U.S. federal tax code, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 609.30 Td (\(5\) the impact of a deferred tax valuation allowance, and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 595.80 Td (\(6\) the impact of the annual special cash dividend paid in the first quarter resulting in an undistributed loss on earnings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 582.30 Td (per diluted common share. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 562.80 Td (Management believes that presenting results and measures on this adjusted basis alongside U.S. GAAP) Tj ET Q q 0 0 0 rg BT 498.30 562.80 Td ( measures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 549.30 Td (provides the most meaningful basis for comparison of its operating results across periods, and enhances the overall ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 535.80 Td (understanding of our current financial performance by excluding certain items that may not be indicative of our core ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 522.30 Td (operating results. ) Tj ET Q q 0 0 0 rg BT 115.31 522.30 Td (The non-GAAP) Tj ET Q q 0 0 0 rg BT 182.94 522.30 Td ( financial measures should be considered in addition to, not as a substitute for) Tj ET Q q 0 0 0 rg BT 527.04 522.30 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 508.80 Td (measures of financial performance prepared in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 369.32 508.80 Td (. For a detailed explanation of the adjustments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 495.30 Td (made to the corresponding U.S. GAAP) Tj ET Q q 0 0 0 rg BT 207.58 495.30 Td ( measures, see "Reconciliation of U.S. GAAP) Tj ET Q q 0 0 0 rg BT 408.26 495.30 Td ( to Selected Summary Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 481.80 Td (Information.") Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 462.30 Td (The following summarizes our results on an adjusted, non-GAAP) Tj ET Q q 0 0 0 rg BT 322.63 462.30 Td ( basis:) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 406.80 238.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 274.50 406.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 406.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 340.50 406.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 402.50 406.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 406.50 406.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 468.50 406.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 472.50 406.80 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 522.50 406.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 406.80 49.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 377.80 238.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 274.50 377.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 377.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 340.50 377.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 402.50 377.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 406.50 377.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 468.50 377.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 472.50 377.80 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 522.50 377.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 377.80 49.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 349.80 238.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 274.50 349.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 349.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 340.50 349.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 402.50 349.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 406.50 349.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 468.50 349.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 472.50 349.80 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 522.50 349.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 349.80 49.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 320.80 238.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 274.50 320.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 320.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 340.50 320.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 402.50 320.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 406.50 320.80 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 468.50 320.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 472.50 320.80 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 522.50 320.80 4.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 320.80 49.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 291.80 238.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 274.50 291.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 291.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 340.50 291.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 402.50 291.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 406.50 291.80 62.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 468.50 291.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 472.50 291.80 50.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 522.50 291.80 4.00 -15.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 291.80 49.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 434.79999999999995 m 336.5 434.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 434.79999999999995 m 340.5 434.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 434.79999999999995 m 402.5 434.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 434.79999999999995 m 406.5 434.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 434.79999999999995 m 468.5 434.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 420.79999999999995 m 522.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 420.79999999999995 m 526.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 420.79999999999995 m 575.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274.5 406.79999999999995 m 336.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 406.79999999999995 m 402.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 406.79999999999995 m 468.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 420.79999999999995 m 522.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 406.79999999999995 m 522.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 420.79999999999995 m 526.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 420.79999999999995 m 575.5 420.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 406.79999999999995 m 575.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 406.79999999999995 m 522.5 406.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 406.79999999999995 m 575.5 406.79999999999995 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.15 439.02 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 39.00 410.98 Td (\(Dollars in thousands, except per share data\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.65 425.02 Td (Mar) Tj ET Q q 0 0 0 rg BT 304.16 425.02 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.05 425.02 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.65 425.02 Td (Mar) Tj ET Q q 0 0 0 rg BT 436.16 425.02 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.95 425.02 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.85 411.02 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.85 411.02 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.85 411.02 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.10 411.02 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.60 411.02 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 396.42 Td (Adjusted net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 396.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.95 396.42 Td (191,419) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 396.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.95 396.42 Td (223,107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 396.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.95 396.42 Td (168,143) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 396.42 Td (-14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 396.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 396.42 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 396.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 382.02 Td (Adjusted compensation and benefits expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 382.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.95 382.02 Td (120,329) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 382.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.95 382.02 Td (137,161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 382.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.95 382.02 Td (104,966) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 382.02 Td (-12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 382.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 382.02 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 382.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 368.02 Td (Adjusted non-compensation expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 368.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.50 368.02 Td (43,01) Tj ET Q q 0 0 0 rg BT 321.52 368.02 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 368.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 368.02 Td (45,489) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 368.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.50 368.02 Td (42,167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 368.02 Td (-5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 368.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.50 368.02 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 368.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 354.02 Td (Adjusted pre-tax operating income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 354.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.50 354.02 Td (28,079) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 354.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 354.02 Td (40,457) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 354.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.50 354.02 Td (21,010) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 354.02 Td (-31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 354.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 354.02 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 354.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 339.42 Td (Adjusted net income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 339.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.50 339.42 Td (23,070) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 339.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 339.42 Td (29,934) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 339.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.50 339.42 Td (21,322) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 339.42 Td (-23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 339.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.50 339.42 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 339.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 325.02 Td (Adjusted earnings per diluted common share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.00 325.02 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.60 325.02 Td (1.57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.00 325.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.60 325.02 Td (1.99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 325.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.60 325.02 Td (1.38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.60 325.02 Td (-21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.10 325.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 325.02 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 325.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 296.42 Td (Adjusted compensation ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.60 296.42 Td (62.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.10 296.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.60 296.42 Td (61.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 296.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.60 296.42 Td (62.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.10 296.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 281.42 Td (Adjusted non-compensation ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.60 281.42 Td (22.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.10 281.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.60 281.42 Td (20.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 281.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.60 281.42 Td (25.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.10 281.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 267.02 Td (Adjusted pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.60 267.02 Td (14.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.10 267.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.60 267.02 Td (18.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.10 267.02 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.60 267.02 Td (12.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.10 267.02 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 240.80 Td (The variance explanation for adjusted non-compensation expenses on a non-GAAP) Tj ET Q q 0 0 0 rg BT 406.05 240.80 Td ( basis is consistent with non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 227.30 Td (compensation expenses on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 218.70 227.30 Td ( basis.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 204.80 Td (Adjusted compensation ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.79 204.80 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.69 204.80 Td (62.9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.04 204.80 Td ( for the current quarter increased compared to the sequential quarter due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 191.30 Td (lower revenues, and increased compared to the year-ago quarter driven by higher payroll taxes and benefit expenses.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 168.80 Td (Adjusted net income and adjusted earnings per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.06 168.80 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.96 168.80 Td ($23.1 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.10 168.80 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.34 168.80 Td ($1.57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.36 168.80 Td (, respectively) Tj ET Q q 0 0 0 rg BT 465.98 168.80 Td (, in the current quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 155.30 Td (declined compared to the sequential quarter due primarily to lower revenues. Results increased compared to the year-ago ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 141.80 Td (period due to higher revenues of) Tj ET Q q 0 0 0 rg BT 179.81 141.80 Td (fset in part by a higher tax rate. ) Tj ET Q q 0 0 0 rg BT 320.26 141.80 Td (The tax impact of restricted stock vesting is more ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 128.30 Td (pronounced in the first quarter of the year when the majority of our vestings occur) Tj ET Q q 0 0 0 rg BT 395.08 128.30 Td (. In the current quarter) Tj ET Q q 0 0 0 rg BT 493.47 128.30 Td (, we recorded a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 114.80 Td (tax benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.04 114.80 Td ($1.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.62 114.80 Td ( related to restricted stock vesting at values greater than the grant price, which increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 101.30 Td (earnings by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.48 101.30 Td ($0.1) Tj ET Q q 0 0 0 rg BT 109.20 101.30 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.76 101.30 Td ( per share. ) Tj ET Q q 0 0 0 rg BT 165.16 101.30 Td (The tax benefit in the prior year quarter of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.93 101.30 Td ($5.0 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.51 101.30 Td ( increased earnings by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.90 101.30 Td ($0.33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.93 101.30 Td ( per ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 87.80 Td (share. Excluding the tax benefit from the current and year-ago period, adjusted earnings per share increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.62 87.80 Td (39%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.63 87.80 Td ( on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 74.30 Td (year-over-year basis. ) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I3 Do Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (4) Tj ET Q BT /F5 16.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 36.00 726.60 Td (BUSINESS SEGMENT RESULTS) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 704.10 Td (The firm has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 94.35 704.10 Td (two) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.91 704.10 Td ( reportable business segments: Capital Markets and ) Tj ET Q q 0 0 0 rg BT 342.81 704.10 Td (Asset Management. Consolidated net revenues and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 690.60 Td (expenses are fully allocated to these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.55 690.60 Td (two) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.11 690.60 Td ( segments. ) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 36.00 663.40 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 107.31 663.40 Td ( Results and Commentary) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.26 w 0 i [] 0 d 1 J 1 j 3 M 36 636.2986328125 m 124.69921875 636.2986328125 l s q 0 0 0 rg BT 36.00 638.20 Td (Capital Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 615.70 Td (The following summarizes our Capital Markets business segment results on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 431.54 615.70 Td ( basis: ) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 563.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 563.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 563.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 563.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 563.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 563.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 563.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 563.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 563.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 563.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 535.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 535.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 535.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 535.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 535.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 535.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 535.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 535.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 535.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 535.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 507.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 507.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 507.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 507.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 507.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 507.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 507.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 507.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 507.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 507.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 479.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 479.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 479.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 479.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 479.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 479.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 479.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 479.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 479.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 479.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 451.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 451.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 451.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 451.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 451.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 451.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 451.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 451.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 451.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 451.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 423.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 423.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 423.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 423.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 423.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 423.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 423.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 423.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 423.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 423.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 395.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 395.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 395.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 395.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 395.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 395.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 395.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 395.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 395.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 395.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 367.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 367.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 367.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 367.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 367.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 367.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 367.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 367.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 367.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 367.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 339.20 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 264.50 339.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 326.50 339.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 339.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 394.50 339.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 400.50 339.20 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 462.50 339.20 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 470.50 339.20 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 520.50 339.20 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 526.50 339.20 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 591.2 m 326.5 591.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 591.2 m 332.5 591.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 591.2 m 394.5 591.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 591.2 m 400.5 591.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 591.2 m 462.5 591.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 577.2 m 520.5 577.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520.5 577.2 m 526.5 577.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 577.2 m 576.5 577.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 563.2 m 326.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 563.2 m 394.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 563.2 m 462.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 577.2 m 520.5 577.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470.5 563.2 m 520.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 577.2 m 576.5 577.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 563.2 m 576.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 563.2 m 576.5 563.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 535.2 m 326.5 535.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 522.2 m 326.5 522.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264.5 520.2 m 326.5 520.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 535.2 m 394.5 535.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 522.2 m 394.5 522.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 520.2 m 394.5 520.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 535.2 m 462.5 535.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 522.2 m 462.5 522.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 520.2 m 462.5 520.2 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.15 595.42 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 39.00 567.38 Td (\(Dollars in thousands, except client transaction data\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.65 581.42 Td (Mar) Tj ET Q q 0 0 0 rg BT 294.16 581.42 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.05 581.42 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.65 581.42 Td (Mar) Tj ET Q q 0 0 0 rg BT 430.16 581.42 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.45 581.42 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 283.85 567.42 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.85 567.42 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.85 567.42 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.10 567.42 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.10 567.42 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 553.42 Td (Net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.00 553.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.95 553.42 Td (182,391) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 553.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.95 553.42 Td (215,035) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.00 553.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.95 553.42 Td (157,896) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 553.42 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 553.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.95 553.42 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 553.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 539.42 Td (Operating expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.95 539.42 Td (158,453) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.95 539.42 Td (181,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.95 539.42 Td (148,860) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 539.42 Td (-13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 539.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.50 539.42 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 539.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 525.42 Td (Pre-tax operating income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.00 525.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.50 525.42 Td (23,938) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 525.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.50 525.42 Td (33,375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.00 525.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.05 525.42 Td (9,036) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 525.42 Td (-28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 525.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.40 525.42 Td (165) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 525.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.00 511.42 Td (Pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.60 511.42 Td (13.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.10 511.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.60 511.42 Td (15.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.10 511.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 511.42 Td (5.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.10 511.42 Td (%) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 39.00 483.42 Td (Client transactions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 469.42 Td (Advisory deals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 455.42 Td (Completed \(#\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.85 455.42 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.85 455.42 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.85 455.42 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 455.42 Td (-33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 455.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.20 455.42 Td (-3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 455.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 441.42 Td (Aggregate value \(in billions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.00 441.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.60 441.42 Td (1) Tj ET Q q 0 0 0 rg BT 303.16 441.42 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 441.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.60 441.42 Td (10.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.00 441.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 441.42 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.95 441.42 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 441.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.40 441.42 Td (129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 441.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 413.42 Td (Equity financing deals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 399.42 Td (Bookrun \(#\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.40 399.42 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.85 399.42 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.85 399.42 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 399.42 Td (-42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 399.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.60 399.42 Td (-59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 399.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 385.42 Td (T) Tj ET Q q 0 0 0 rg BT 56.55 385.42 Td (otal \(#\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.85 385.42 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.85 385.42 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.85 385.42 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 385.42 Td (-20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 385.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.60 385.42 Td (-52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 385.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 371.42 Td (Capital raised \(in billions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.00 371.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.15 371.42 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 371.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 371.42 Td (2.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.00 371.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 371.42 Td (4.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.95 371.42 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 371.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.95 371.42 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 371.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 343.42 Td (Municipal negotiated issues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 329.42 Td (T) Tj ET Q q 0 0 0 rg BT 56.55 329.42 Td (otal \(#\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.85 329.42 Td (77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.30 329.42 Td (134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.85 329.42 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 329.42 Td (-43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 329.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.95 329.42 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 329.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.00 315.42 Td (Par value \(in billions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.00 315.42 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.15 315.42 Td (1.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.00 315.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 315.42 Td (3.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.00 315.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 315.42 Td (1.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 315.42 Td (-50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.10 315.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.50 315.42 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.10 315.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 289.20 Td (Advisory services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 121.61 289.20 Td ( revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.42 289.20 Td ($1) Tj ET Q q 0 0 0 rg BT 189.80 289.20 Td (14.9 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.38 289.20 Td ( in the current quarter decreased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.25 289.20 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.26 289.20 Td ( compared to a strong fourth quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 275.70 Td (of 2018. On a year-over-year basis, the number of completed transactions were essentially flat, however revenues ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 262.20 Td (increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.14 262.20 Td (53%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.15 262.20 Td ( driven by the closing of a couple large deals. ) Tj ET Q q 0 0 0 rg BT 304.87 262.20 Td (The uneven distribution of the number and size of deals ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 248.70 Td (results in revenue fluctuations period over period. W) Tj ET Q q 0 0 0 rg BT 266.49 248.70 Td (e believe our full year pipeline remains strong and, consistent with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 235.20 Td (prior years, will be more weighted toward the second half of the year) Tj ET Q q 0 0 0 rg BT 337.83 235.20 Td (.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 209.70 Td (Equity financing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 113.78 209.70 Td ( revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.59 209.70 Td ($13.5 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.73 209.70 Td ( decreased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.99 209.70 Td (39%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.00 209.70 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.25 209.70 Td (64%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.26 209.70 Td ( compared to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.08 209.70 Td (sequential quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.14 209.70 Td ( and year-ago ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 196.20 Td (period, respectively) Tj ET Q q 0 0 0 rg BT 121.41 196.20 Td (, driven by fewer completed transactions which was exacerbated by fewer bookrun deals. Equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 182.70 Td (financing activity started slow in 2019 due to the federal government shut down and market volatility in the fourth quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 169.20 Td (of 2018.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 143.70 Td (Debt financing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.44 143.70 Td ( revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.26 143.70 Td ($13.1 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.40 143.70 Td (, decreased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.43 143.70 Td (53%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.45 143.70 Td ( compared to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.27 143.70 Td (fourth quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.30 143.70 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.20 143.70 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.45 143.70 Td (, reflecting a slower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 130.20 Td (than anticipated start to the year) Tj ET Q q 0 0 0 rg BT 178.31 130.20 Td (. Revenues in the current quarter increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.42 130.20 Td (70%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.44 130.20 Td ( compared to the historical slow first ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 116.70 Td (quarter of 2018, which was impacted by federal tax reform. Municipal issuance volumes were up on a year-over-year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 103.20 Td (basis, but remain low on a historical basis. W) Tj ET Q q 0 0 0 rg BT 235.35 103.20 Td (e expect our performance to increase from these levels. ) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I4 Do Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (5) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 730.75 Td (Equity institutional brokerage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.13 730.75 Td ( revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.94 730.75 Td ($15.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.08 730.75 Td ( were down ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 730.75 Td (30%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.01 730.75 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.25 730.75 Td (13%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.27 730.75 Td ( compared to the sequential and year-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 717.25 Td (ago quarter) Tj ET Q q 0 0 0 rg BT 86.60 717.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 144.21 717.25 Td (. Market volatility and volumes were relatively subdued during the quarter) Tj ET Q q 0 0 0 rg BT 467.15 717.25 Td (, which negatively ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 703.75 Td (impacted our performance. Revenues in the fourth quarter of 2018 were aided by an increase in payments received for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 690.25 Td (research, while the first quarter of 2018 included higher block trading revenues. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 664.75 Td (Fixed income institutional brokerage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.48 664.75 Td ( revenues of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.29 664.75 Td ($23.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.43 664.75 Td ( increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.35 664.75 Td (62%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.36 664.75 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.60 664.75 Td (45%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.62 664.75 Td ( compared to the sequential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 651.25 Td (quarter and year-ago period, respectively) Tj ET Q q 0 0 0 rg BT 217.58 651.25 Td (. Increased client activity at the start of the year and better overall trading ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 637.75 Td (performance, combined with improved municipal markets, drove our strong results during the quarter) Tj ET Q q 0 0 0 rg BT 480.65 637.75 Td (. W) Tj ET Q q 0 0 0 rg BT 495.47 637.75 Td (e continue to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 624.25 Td (manage inventory and risk, which ended the current quarter at levels consistent with the fourth quarter of 2018. With low ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 610.75 Td (interest rates and a flat yield curve, we expect customer activity to slow in the near term. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 585.25 Td (Operating expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.59 585.25 Td ( for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.50 585.25 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.07 585.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.96 585.25 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.21 585.25 Td ( were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.44 585.25 Td ($158.5 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.15 585.25 Td (, down ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.39 585.25 Td (13%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.40 585.25 Td ( compared to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.22 585.25 Td (fourth quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.26 585.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.16 585.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.40 585.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 571.75 Td (primarily due to lower compensation expenses arising from decreased revenues. Operating expenses in the current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 558.25 Td (quarter increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.60 558.25 Td (6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.05 558.25 Td ( compared to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.88 558.25 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.45 558.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.34 558.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.59 558.25 Td ( primarily due to higher compensation expenses from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 544.75 Td (increased revenues of) Tj ET Q q 0 0 0 rg BT 134.21 544.75 Td (fset in part by lower acquisition-related compensation. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 519.25 Td (Segment pre-tax operating margin) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.81 519.25 Td ( was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 519.25 Td (13.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.50 519.25 Td ( in the current quarter compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.25 519.25 Td (15.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 519.25 Td ( in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.62 519.25 Td (fourth quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.66 519.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.55 519.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 519.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 505.75 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.46 505.75 Td (5.7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.26 505.75 Td ( in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.28 505.75 Td (year-ago) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 147.74 505.75 Td ( period. Segment pre-tax operating margin declined on a sequential basis and improved on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 492.25 Td (year-over-year basis driven by the relative changes in revenues. ) Tj ET Q q 0 0 0 rg BT 322.26 492.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 372.66 492.25 Td (, segment pre-tax operating margin in the first ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 478.75 Td (quarter of 2018 was impacted by higher acquisition-related compensation. ) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.26 w 0 i [] 0 d 1 J 1 j 3 M 36 448.6486328125 m 145.365234375 448.6486328125 l s q 0 0 0 rg BT 36.00 450.55 Td (Asset Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 428.05 Td (The following summarizes our ) Tj ET Q q 0 0 0 rg BT 171.05 428.05 Td (Asset Management business segment results on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 447.67 428.05 Td ( basis:) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 375.55 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 375.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 375.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 375.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 375.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 375.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 375.55 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 375.55 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 375.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 375.55 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 347.55 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 347.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 347.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 347.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 347.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 347.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 347.55 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 347.55 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 347.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 347.55 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 319.55 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 319.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 319.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 319.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 319.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 319.55 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 319.55 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 319.55 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 319.55 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 319.55 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 403.55 m 325.5 403.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 403.55 m 331.5 403.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 403.55 m 393.5 403.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 403.55 m 399.5 403.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 403.55 m 461.5 403.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 389.55 m 519.5 389.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 389.55 m 525.5 389.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 389.55 m 575.5 389.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 375.55 m 325.5 375.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 375.55 m 393.5 375.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 375.55 m 461.5 375.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 389.55 m 519.5 389.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 375.55 m 519.5 375.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 389.55 m 575.5 389.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 375.55 m 575.5 375.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 347.55 m 325.5 347.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 334.55 m 325.5 334.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 332.55 m 325.5 332.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 347.55 m 393.5 347.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 334.55 m 393.5 334.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 332.55 m 393.5 332.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 347.55 m 461.5 347.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 334.55 m 461.5 334.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 332.55 m 461.5 332.55 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.15 407.77 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 38.00 379.73 Td (\(Dollars in thousands, except ) Tj ET Q q 0 0 0 rg BT 143.09 379.73 Td (AUM\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.65 393.77 Td (Mar) Tj ET Q q 0 0 0 rg BT 293.16 393.77 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.05 393.77 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 393.77 Td (Mar) Tj ET Q q 0 0 0 rg BT 429.16 393.77 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.45 393.77 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.85 379.77 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.85 379.77 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.85 379.77 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.10 379.77 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 379.77 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 365.77 Td (Net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 365.77 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.05 365.77 Td (9,441) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 365.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.05 365.77 Td (9,336) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 365.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 365.77 Td (1) Tj ET Q q 0 0 0 rg BT 427.06 365.77 Td (1,166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.50 365.77 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 365.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.60 365.77 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 365.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 351.77 Td (Operating expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.50 351.77 Td (10,449) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 351.77 Td (10,766) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 351.77 Td (12,164) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.20 351.77 Td (-3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 351.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.60 351.77 Td (-14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 351.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 337.77 Td (Pre-tax operating loss) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 337.77 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.70 337.77 Td (\(1,008) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.10 337.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 337.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.70 337.77 Td (\(1,430) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.10 337.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 337.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.05 337.77 Td (\(998) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 337.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 337.77 Td (N/M) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.65 337.77 Td (N/M) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 323.77 Td (Pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.30 323.77 Td (-10.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.10 323.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.30 323.77 Td (-15.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.10 323.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.85 323.77 Td (-8.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 323.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 295.77 Td (Assets under management \(in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 295.77 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.05 295.77 Td (6,31) Tj ET Q q 0 0 0 rg BT 310.51 295.77 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 295.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.05 295.77 Td (5,755) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 295.77 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.05 295.77 Td (6,877) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.95 295.77 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 295.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.20 295.77 Td (-8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 295.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 8.00 Tf ET q 0 0 0 rg BT 36.00 278.25 Td (N/M Not meaningful) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 252.75 Td (Assets Under Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.37 252.75 Td ( \("AUM"\) at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.03 252.75 Td (March31, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.51 252.75 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.41 252.75 Td ($6.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.22 252.75 Td ( increased compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 252.75 Td ($5.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.31 252.75 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 239.25 Td (December31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.83 239.25 Td ( primarily driven by market appreciation as the equity markets recovered from the steep declines we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 225.75 Td (experienced in the fourth quarter of 2018. ) Tj ET Q q 0 0 0 rg BT 221.68 225.75 Td (AUM decreased compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.53 225.75 Td ($6.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.34 225.75 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.23 225.75 Td (March31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.72 225.75 Td ( principally due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 212.25 Td (net client outflows.) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 186.75 Td (Management and performance fees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.83 186.75 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.72 186.75 Td ($9.3 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.30 186.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.08 186.75 Td (decreased) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.78 186.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.56 186.75 Td (3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.01 186.75 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.25 186.75 Td (17%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.27 186.75 Td ( compared to the sequential quarter and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 173.25 Td (year-ago period, respectively) Tj ET Q q 0 0 0 rg BT 163.66 173.25 Td (, due to lower average ) Tj ET Q q 0 0 0 rg BT 264.83 173.25 Td (AUM and a lower ef) Tj ET Q q 0 0 0 rg BT 352.47 173.25 Td (fective yield driven by the mix of our products. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 147.75 Td (Operating expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.59 147.75 Td ( for the current quarter were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.31 147.75 Td ($10.4 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.46 147.75 Td (, down ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.70 147.75 Td (3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 147.75 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.39 147.75 Td (14%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.41 147.75 Td ( compared to the sequential quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 134.25 Td (and year-ago period, respectively) Tj ET Q q 0 0 0 rg BT 183.12 134.25 Td (. ) Tj ET Q q 0 0 0 rg BT 188.50 134.25 Td (The decrease compared to both of the prior periods primarily resulted from lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 120.75 Td (compensation expense arising from decreased revenues. ) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 36.00 95.25 Td (Segment pre-tax operating margin) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.81 95.25 Td ( was negative in the current and prior year periods due to a pre-tax operating loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 81.75 Td (resulting from intangible amortization expense, respectively) Tj ET Q q 0 0 0 rg BT 297.61 81.75 Td (. ) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I5 Do Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (6) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 36.00 727.85 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 108.07 727.85 Td ( Results and Commentary) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.26 w 0 i [] 0 d 1 J 1 j 3 M 36 700.7486328125 m 124.69921875 700.7486328125 l s q 0 0 0 rg BT 36.00 702.65 Td (Capital Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 680.15 Td (The following summarizes our Capital Markets business segment results on a non-GAAP) Tj ET Q q 0 0 0 rg BT 429.33 680.15 Td ( basis:) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 627.65 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 627.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 627.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 627.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 627.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 627.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 627.65 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 627.65 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 627.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 627.65 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 599.65 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 599.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 599.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 599.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 599.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 599.65 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 599.65 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 599.65 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 599.65 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 599.65 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 655.65 m 325.5 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 655.65 m 331.5 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 655.65 m 393.5 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 655.65 m 399.5 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 655.65 m 461.5 655.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 641.65 m 519.5 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 641.65 m 525.5 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 641.65 m 575.5 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 627.65 m 325.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 627.65 m 393.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 627.65 m 461.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 641.65 m 519.5 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 627.65 m 519.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 641.65 m 575.5 641.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 627.65 m 575.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 627.65 m 519.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 627.65 m 575.5 627.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 599.65 m 325.5 599.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 586.65 m 325.5 586.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 584.65 m 325.5 584.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 599.65 m 393.5 599.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 586.65 m 393.5 586.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 584.65 m 393.5 584.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 599.65 m 461.5 599.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 586.65 m 461.5 586.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 584.65 m 461.5 584.65 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.15 659.87 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 38.00 631.83 Td (\(Dollars in thousands\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.65 645.87 Td (Mar) Tj ET Q q 0 0 0 rg BT 293.16 645.87 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.05 645.87 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 645.87 Td (Mar) Tj ET Q q 0 0 0 rg BT 429.16 645.87 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.45 645.87 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.85 631.87 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.85 631.87 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.85 631.87 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.10 631.87 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 631.87 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 617.87 Td (Adjusted net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 617.87 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.95 617.87 Td (181,978) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 617.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.95 617.87 Td (213,771) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 617.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.95 617.87 Td (156,977) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.60 617.87 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 617.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 617.87 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 617.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 603.87 Td (Adjusted operating expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 603.87 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.95 603.87 Td (154,250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 603.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.95 603.87 Td (173,284) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 603.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.95 603.87 Td (136,370) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.60 603.87 Td (-1) Tj ET Q q 0 0 0 rg BT 504.49 603.87 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 603.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 603.87 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 603.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 589.87 Td (Adjusted pre-tax operating income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 589.87 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.50 589.87 Td (27,728) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 589.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 589.87 Td (40,487) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 589.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 589.87 Td (20,607) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.60 589.87 Td (-32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 589.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.95 589.87 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 589.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 575.87 Td (Adjusted pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.60 575.87 Td (15.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.10 575.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.60 575.87 Td (18.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.10 575.87 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.60 575.87 Td (13.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 575.87 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 549.65 Td (The variance explanations for our Capital Markets business segment results on a non-GAAP) Tj ET Q q 0 0 0 rg BT 444.92 549.65 Td ( basis are consistent with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 536.15 Td (those for our Capital Markets business segment results on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 354.85 536.15 Td ( basis.) Tj ET Q BT /F3 12.00 Tf ET 0 0 0 RG /GS0 gs 1.26 w 0 i [] 0 d 1 J 1 j 3 M 36 506.0486328125 m 145.365234375 506.0486328125 l s q 0 0 0 rg BT 36.00 507.95 Td (Asset Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 485.45 Td (The following summarizes our ) Tj ET Q q 0 0 0 rg BT 171.05 485.45 Td (Asset Management business segment results on a non-GAAP) Tj ET Q q 0 0 0 rg BT 445.46 485.45 Td ( basis:) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 435.95 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 435.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 435.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 435.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 435.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 435.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 435.95 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 435.95 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 435.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 435.95 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 35.50 407.95 228.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 263.50 407.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 407.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 331.50 407.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 407.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 399.50 407.95 62.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 461.50 407.95 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 469.50 407.95 50.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 407.95 6.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 525.50 407.95 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 461.95 m 325.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 461.95 m 331.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 461.95 m 393.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 461.95 m 399.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 461.95 m 461.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 448.95 m 519.5 448.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 448.95 m 525.5 448.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 448.95 m 575.5 448.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 435.95 m 325.5 435.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 435.95 m 393.5 435.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 435.95 m 461.5 435.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 448.95 m 519.5 448.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 435.95 m 519.5 435.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 448.95 m 575.5 448.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 435.95 m 575.5 435.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 407.95 m 325.5 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 394.95 m 325.5 394.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 392.95 m 325.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 407.95 m 393.5 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 394.95 m 393.5 394.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 392.95 m 393.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 407.95 m 461.5 407.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 394.95 m 461.5 394.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 392.95 m 461.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 392.95 m 393.5 392.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 394.95 m 393.5 394.95 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.15 465.17 Td ( Three Months Ended) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 38.00 440.13 Td (\(Dollars in thousands\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.65 452.17 Td (Mar) Tj ET Q q 0 0 0 rg BT 293.16 452.17 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.05 452.17 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 452.17 Td (Mar) Tj ET Q q 0 0 0 rg BT 429.16 452.17 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.45 452.17 Td (% Change vs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.85 439.17 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.85 439.17 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.85 439.17 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.10 439.17 Td (Q4-18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.10 439.17 Td (Q1-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 426.17 Td (Adjusted net revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 426.17 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.05 426.17 Td (9,441) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 426.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.05 426.17 Td (9,336) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 426.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 426.17 Td (1) Tj ET Q q 0 0 0 rg BT 427.06 426.17 Td (1,166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.50 426.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 426.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.60 426.17 Td (-15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 426.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 412.17 Td (Adjusted operating expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 412.17 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.05 412.17 Td (9,090) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 412.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.05 412.17 Td (9,366) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 412.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 412.17 Td (10,763) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.20 412.17 Td (-3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 412.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.60 412.17 Td (-16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 412.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 398.17 Td (Adjusted pre-tax operating income/\(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.00 398.17 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.40 398.17 Td (351) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.00 398.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.60 398.17 Td (\(30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.10 398.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.00 398.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.40 398.17 Td (403) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 398.17 Td (N/M) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.60 398.17 Td (-13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.10 398.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.00 384.17 Td (Adjusted pre-tax operating margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.15 384.17 Td (3.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.10 384.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.85 384.17 Td (-0.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.10 384.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 384.17 Td (3.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.10 384.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F4 8.00 Tf ET q 0 0 0 rg BT 36.00 366.65 Td (N/M Not meaningful) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 344.15 Td (The variance explanations for our ) Tj ET Q q 0 0 0 rg BT 186.64 344.15 Td (Asset Management business segment results on a non-GAAP) Tj ET Q q 0 0 0 rg BT 461.05 344.15 Td ( basis are consistent with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 330.65 Td (those for our ) Tj ET Q q 0 0 0 rg BT 94.37 330.65 Td (Asset Management business segment results on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 370.99 330.65 Td ( basis. ) Tj ET Q q 0 0 0 rg BT 402.49 330.65 Td (The dif) Tj ET Q q 0 0 0 rg BT 432.88 330.65 Td (ferences between our operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 317.15 Td (expenses and pre-tax operating margin on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 284.85 317.15 Td ( basis, and our adjusted operating expenses and adjusted pre-tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 303.65 Td (operating margin on a non-GAAP) Tj ET Q q 0 0 0 rg BT 183.69 303.65 Td ( basis, are due to intangible asset amortization. ) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I6 Do Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (7) Tj ET Q BT /F5 16.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 36.00 726.60 Td (TAXES) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 704.10 Td (For the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.46 704.10 Td (three months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.82 704.10 Td ( ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.19 704.10 Td (March31, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.67 704.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.92 704.10 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.16 704.10 Td (, we recorded a tax benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.90 704.10 Td ($1.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.49 704.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.73 704.10 Td ($5.0 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.31 704.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 690.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 88.06 690.60 Td (, related to restricted stock vesting at values greater than the grant price. Excluding the impact of this tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 677.10 Td (benefit, our non-GAAP) Tj ET Q q 0 0 0 rg BT 136.43 677.10 Td ( ef) Tj ET Q q 0 0 0 rg BT 147.37 677.10 Td (fective tax rate was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.74 677.10 Td (23.9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.10 677.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.34 677.10 Td (22.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.69 677.10 Td ( for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.60 677.10 Td (three months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.96 677.10 Td ( ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.33 677.10 Td (March31, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.81 677.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.05 677.10 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.30 677.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 663.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 88.06 663.60 Td (. ) Tj ET Q BT /F5 16.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.24705882352941178 0.592156862745098 0.7098039215686275 rg BT 36.00 611.30 Td (CAPITAL) Tj ET Q BT /F3 14.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 36.00 583.40 Td (Dividends) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 560.90 Td (In the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.80 560.90 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.37 560.90 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.27 560.90 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.51 560.90 Td (, we paid a special annual cash dividend on the company's common stock of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 560.90 Td ($1.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.53 560.90 Td ( per share. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 547.40 Td (This special annual cash dividend related to our fiscal year 2018 adjusted net income, of which we returned approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 533.90 Td (40% to shareholders through this special annual dividend and the regular quarterly dividends paid during 2018. W) Tj ET Q q 0 0 0 rg BT 538.36 533.90 Td (e also ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 520.40 Td (paid a quarterly dividend on the company's common stock of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.94 520.40 Td ($0.375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.53 520.40 Td ( per share during the quarter) Tj ET Q q 0 0 0 rg BT 463.72 520.40 Td (. Both the special annual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 506.90 Td (dividend and quarterly dividend were paid on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.25 506.90 Td (March 15, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.73 506.90 Td ( to shareholders of record as of the close of business on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 493.40 Td (February 25, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.72 493.40 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 470.90 Td (Our Board of Directors has declared a quarterly cash dividend on the company's common stock of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.01 470.90 Td ($0.375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.60 470.90 Td ( per share to be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 457.40 Td (paid on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.59 457.40 Td (June 14, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.97 457.40 Td (, to shareholders of record as of the close of business on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.01 457.40 Td (May 24, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.60 457.40 Td (.) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 36.00 413.00 Td (Share Repurchases ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 390.50 Td (During the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 84.92 390.50 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.49 390.50 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.38 390.50 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.63 390.50 Td (, we repurchased approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.15 390.50 Td (564,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.29 390.50 Td ( shares of common stock, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.67 390.50 Td ($39.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.82 390.50 Td (, at an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 377.00 Td (average price of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.49 377.00 Td ($70.47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.07 377.00 Td ( primarily from restricted stock holders upon vesting. ) Tj ET Q BT /F3 14.00 Tf ET q 0 0 0 rg BT 36.00 332.60 Td (Share Grants) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 310.10 Td (In the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.80 310.10 Td (first quarter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.37 310.10 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.27 310.10 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.51 310.10 Td (, we granted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.32 310.10 Td ($18.4 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.47 310.10 Td (, or approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.72 310.10 Td (247,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.87 310.10 Td ( shares, of restricted stock to our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 296.60 Td (employees as part of their 2018 earned compensation at a weighted average grant date fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.28 296.60 Td ($74.40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.87 296.60 Td ( per share.) 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/GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 639.10 329.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 365.50 639.10 65.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 430.50 639.10 8.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 438.50 639.10 65.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 503.50 639.10 8.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 511.50 639.10 65.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 613.10 329.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 365.50 613.10 65.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 430.50 613.10 8.00 -14.00 re f /GS0 gs 0.9490196078431372 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438.50 531.10 65.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 503.50 531.10 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 511.50 531.10 65.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 493.10 329.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 365.50 493.10 65.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 430.50 493.10 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 438.50 493.10 65.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 503.50 493.10 8.00 -14.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 511.50 493.10 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 681.1 m 430.5 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 681.1 m 503.5 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 681.1 m 576.5 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365.5 559.1 m 430.5 559.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 559.1 m 503.5 559.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 559.1 m 576.5 559.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 559.1 m 503.5 559.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 559.1 m 576.5 559.1 l s BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 379.15 697.32 Td (Mar) Tj ET Q q 0 0 0 rg BT 396.66 697.32 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.55 697.32 Td (Dec. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.15 697.32 Td (Mar) Tj ET Q q 0 0 0 rg BT 542.66 697.32 Td (. 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.35 684.32 Td (2019) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.35 684.32 Td (2018) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 532.35 684.32 Td (2018) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 39.00 671.32 Td (Human Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 657.32 Td (Full time employees) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 395.95 657.32 Td (1,240) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.95 657.32 Td (1,256) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.95 657.32 Td (1,259) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 643.32 Td (Investment banking managing directors) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.85 643.32 Td (91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.85 643.32 Td (90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.85 643.32 Td (86) Tj ET Q BT /F6 10.00 Tf ET q 0 0 0 rg BT 39.00 617.32 Td (Shareholder Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 603.32 Td (Common shareholders) Tj ET Q q 0 0 0 rg BT 148.19 603.32 Td ( equity \(in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.00 603.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.05 603.32 Td (661.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 603.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 603.32 Td (677.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 603.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.05 603.32 Td (688.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 577.32 Td (Common shares outstanding \(in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.50 577.32 Td (13.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 577.32 Td (13.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.50 577.32 Td (13.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 563.32 Td (Restricted shares outstanding \(in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.05 563.32 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.05 563.32 Td (1.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.05 563.32 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 549.32 Td (T) Tj ET Q q 0 0 0 rg BT 50.55 549.32 Td (otal shares outstanding \(in millions\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.50 549.32 Td (14.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 549.32 Td (14.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.50 549.32 Td (15.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 521.32 Td (Return on average common shareholders) Tj ET Q q 0 0 0 rg BT 231.40 521.32 Td ( equity rolling 12 month *) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.15 521.32 Td (9.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.10 521.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 521.32 Td (8.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.10 521.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.85 521.32 Td (-9.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.10 521.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 507.32 Td (Adjusted return on average common shareholders) Tj ET Q q 0 0 0 rg BT 269.38 507.32 Td ( equity rolling 12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 497.32 Td (month ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 395.60 497.72 Td (14.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.10 497.72 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.60 497.72 Td (13.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.10 497.72 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.60 497.72 Td (13.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.10 497.72 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 483.32 Td (Book value per share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.00 483.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.05 483.32 Td (49.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 483.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 483.32 Td (52.13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 483.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.05 483.32 Td (51.73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.00 469.32 Td (T) Tj ET Q q 0 0 0 rg BT 50.00 469.32 Td (angible book value per share ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.00 469.32 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.05 469.32 Td (42.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 469.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 469.32 Td (44.88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 469.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.05 469.32 Td (44.06) Tj ET Q BT /F1 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 36.00 450.00 Td (* ) Tj ET Q q 0 0 0 rg BT 54.00 450.00 Td (Rolling ) Tj ET Q q 0 0 0 rg BT 80.69 450.00 Td (12 ) Tj ET Q q 0 0 0 rg BT 91.81 450.00 Td (month ) Tj ET Q q 0 0 0 rg BT 116.28 450.00 Td (return ) Tj ET Q q 0 0 0 rg BT 139.40 450.00 Td (on ) Tj ET Q q 0 0 0 rg BT 150.53 450.00 Td (average ) Tj ET Q q 0 0 0 rg BT 181.67 450.00 Td (common ) Tj ET Q q 0 0 0 rg BT 214.58 450.00 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 264.58 450.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 288.16 450.00 Td (is ) Tj ET Q q 0 0 0 rg BT 296.17 450.00 Td (computed ) Tj ET Q q 0 0 0 rg BT 333.53 450.00 Td (by ) Tj ET Q q 0 0 0 rg BT 344.21 450.00 Td (dividing ) Tj ET Q q 0 0 0 rg BT 373.56 450.00 Td (net ) Tj ET Q q 0 0 0 rg BT 386.91 450.00 Td (income ) Tj ET Q q 0 0 0 rg BT 414.93 450.00 Td (applicable ) Tj ET Q q 0 0 0 rg BT 453.19 450.00 Td (to ) Tj ET Q q 0 0 0 rg BT 462.09 450.00 Td (Piper ) Tj ET Q q 0 0 0 rg BT 482.99 450.00 Td (Jaf) Tj ET Q q 0 0 0 rg BT 493.52 450.00 Td (fray ) Tj ET Q q 0 0 0 rg BT 509.09 450.00 Td (Companies' ) Tj ET Q q 0 0 0 rg BT 553.31 450.00 Td (for ) Tj ET Q q 0 0 0 rg BT 564.87 450.00 Td (the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 440.40 Td (last ) Tj ET Q q 0 0 0 rg BT 68.67 440.40 Td (12 ) Tj ET Q q 0 0 0 rg BT 79.79 440.40 Td (months ) Tj ET Q q 0 0 0 rg BT 108.25 440.40 Td (by ) Tj ET Q q 0 0 0 rg BT 118.92 440.40 Td (average ) Tj ET Q q 0 0 0 rg BT 150.05 440.40 Td (monthly ) Tj ET Q q 0 0 0 rg BT 180.29 440.40 Td (common ) Tj ET Q q 0 0 0 rg BT 213.19 440.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 263.19 440.40 Td (equity) Tj ET Q q 0 0 0 rg BT 283.94 440.40 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 36.00 424.40 Td ( ) Tj ET Q q 0 0 0 rg BT 54.00 424.40 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 87.60 424.40 Td (rolling ) Tj ET Q q 0 0 0 rg BT 111.42 424.40 Td (12 ) Tj ET Q q 0 0 0 rg BT 122.78 424.40 Td (month ) Tj ET Q q 0 0 0 rg BT 147.49 424.40 Td (return ) Tj ET Q q 0 0 0 rg BT 170.85 424.40 Td (on ) Tj ET Q q 0 0 0 rg BT 182.22 424.40 Td (average ) Tj ET Q q 0 0 0 rg BT 213.60 424.40 Td (common ) Tj ET Q q 0 0 0 rg BT 246.75 424.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 296.99 424.40 Td (equity) Tj ET Q q 0 0 0 rg BT 317.75 424.40 Td (, ) Tj ET Q q 0 0 0 rg BT 322.44 424.40 Td (a ) Tj ET Q q 0 0 0 rg BT 329.36 424.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 367.45 424.40 Td ( ) Tj ET Q q 0 0 0 rg BT 369.92 424.40 Td (measure, ) Tj ET Q q 0 0 0 rg BT 405.74 424.40 Td (is ) Tj ET Q q 0 0 0 rg BT 413.99 424.40 Td (computed ) Tj ET Q q 0 0 0 rg BT 451.59 424.40 Td (by ) Tj ET Q q 0 0 0 rg BT 462.51 424.40 Td (dividing ) Tj ET Q q 0 0 0 rg BT 492.11 424.40 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 524.82 424.40 Td (net ) Tj ET Q q 0 0 0 rg BT 538.41 424.40 Td (income ) Tj ET Q q 0 0 0 rg BT 566.67 424.40 Td (for ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 414.40 Td (the ) Tj ET Q q 0 0 0 rg BT 68.02 414.40 Td (last ) Tj ET Q q 0 0 0 rg BT 83.36 414.40 Td (12 ) Tj ET Q q 0 0 0 rg BT 95.15 414.40 Td (months ) Tj ET Q q 0 0 0 rg BT 124.28 414.40 Td (by ) Tj ET Q q 0 0 0 rg BT 135.63 414.40 Td (average ) Tj ET Q q 0 0 0 rg BT 167.43 414.40 Td (monthly ) Tj ET Q q 0 0 0 rg BT 198.34 414.40 Td (common ) Tj ET Q q 0 0 0 rg BT 231.91 414.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 282.58 414.40 Td (equity) Tj ET Q q 0 0 0 rg BT 303.33 414.40 Td (. ) Tj ET Q q 0 0 0 rg BT 308.45 414.40 Td (For ) Tj ET Q q 0 0 0 rg BT 323.34 414.40 Td (a ) Tj ET Q q 0 0 0 rg BT 330.69 414.40 Td (detailed ) Tj ET Q q 0 0 0 rg BT 361.61 414.40 Td (explanation ) Tj ET Q q 0 0 0 rg BT 405.42 414.40 Td (of ) Tj ET Q q 0 0 0 rg BT 414.99 414.40 Td (the ) Tj ET Q q 0 0 0 rg BT 429.00 414.40 Td (components ) Tj ET Q q 0 0 0 rg BT 475.48 414.40 Td (of ) Tj ET Q q 0 0 0 rg BT 485.05 414.40 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 518.19 414.40 Td (net ) Tj ET Q q 0 0 0 rg BT 532.20 414.40 Td (income, ) Tj ET Q q 0 0 0 rg BT 563.11 414.40 Td (see ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 404.40 Td ("Reconciliation ) Tj ET Q q 0 0 0 rg BT 108.43 404.40 Td (of ) Tj ET Q q 0 0 0 rg BT 116.89 404.40 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 134.24 404.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 156.33 404.40 Td ( ) Tj ET Q q 0 0 0 rg BT 158.12 404.40 Td (to ) Tj ET Q q 0 0 0 rg BT 166.58 404.40 Td (Selected ) Tj ET Q q 0 0 0 rg BT 199.50 404.40 Td (Summary ) Tj ET Q q 0 0 0 rg BT 235.51 404.40 Td (Financial ) Tj ET Q q 0 0 0 rg BT 269.32 404.40 Td (Information.") Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 314.40 404.40 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.19 404.40 Td (Management ) Tj ET Q q 0 0 0 rg BT 364.67 404.40 Td (believes ) Tj ET Q q 0 0 0 rg BT 395.81 404.40 Td (that ) Tj ET Q q 0 0 0 rg BT 410.94 404.40 Td (the ) Tj ET Q q 0 0 0 rg BT 423.85 404.40 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 455.89 404.40 Td (rolling ) Tj ET Q q 0 0 0 rg BT 479.02 404.40 Td (12 ) Tj ET Q q 0 0 0 rg BT 489.71 404.40 Td (month ) Tj ET Q q 0 0 0 rg BT 513.73 404.40 Td (return ) Tj ET Q q 0 0 0 rg BT 536.42 404.40 Td (on ) Tj ET Q q 0 0 0 rg BT 547.10 404.40 Td (average ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 394.40 Td (common ) Tj ET Q q 0 0 0 rg BT 86.90 394.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 136.90 394.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 160.47 394.40 Td (provides ) Tj ET Q q 0 0 0 rg BT 192.93 394.40 Td (a ) Tj ET Q q 0 0 0 rg BT 199.60 394.40 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 240.96 394.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 274.31 394.40 Td (of ) Tj ET Q q 0 0 0 rg BT 283.20 394.40 Td (our ) Tj ET Q q 0 0 0 rg BT 296.99 394.40 Td (return ) Tj ET Q q 0 0 0 rg BT 320.11 394.40 Td (on ) Tj ET Q q 0 0 0 rg BT 331.23 394.40 Td (the ) Tj ET Q q 0 0 0 rg BT 344.57 394.40 Td (core ) Tj ET Q q 0 0 0 rg BT 362.36 394.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 397.94 394.40 Td (results ) Tj ET Q q 0 0 0 rg BT 423.73 394.40 Td (of ) Tj ET Q q 0 0 0 rg BT 432.62 394.40 Td (the ) Tj ET Q q 0 0 0 rg BT 445.96 394.40 Td (business.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 36.00 378.40 Td ( ) Tj ET Q q 0 0 0 rg BT 54.00 378.40 Td (T) Tj ET Q q 0 0 0 rg BT 58.00 378.40 Td (angible ) Tj ET Q q 0 0 0 rg BT 85.64 378.40 Td (book ) Tj ET Q q 0 0 0 rg BT 104.83 378.40 Td (value ) Tj ET Q q 0 0 0 rg BT 125.80 378.40 Td (per ) Tj ET Q q 0 0 0 rg BT 139.20 378.40 Td (share, ) Tj ET Q q 0 0 0 rg BT 163.28 378.40 Td (a ) Tj ET Q q 0 0 0 rg BT 169.57 378.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 207.67 378.40 Td ( ) Tj ET Q q 0 0 0 rg BT 209.51 378.40 Td (measure, ) Tj ET Q q 0 0 0 rg BT 244.70 378.40 Td (is ) Tj ET Q q 0 0 0 rg BT 252.32 378.40 Td (computed ) Tj ET Q q 0 0 0 rg BT 289.29 378.40 Td (by ) Tj ET Q q 0 0 0 rg BT 299.58 378.40 Td (dividing ) Tj ET Q q 0 0 0 rg BT 328.55 378.40 Td (tangible ) Tj ET Q q 0 0 0 rg BT 358.42 378.40 Td (common ) Tj ET Q q 0 0 0 rg BT 390.94 378.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 440.56 378.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 463.75 378.40 Td (by ) Tj ET Q q 0 0 0 rg BT 474.04 378.40 Td (common ) Tj ET Q q 0 0 0 rg BT 506.55 378.40 Td (shares ) Tj ET Q q 0 0 0 rg BT 532.41 378.40 Td (outstanding. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 368.40 Td (T) Tj ET Q q 0 0 0 rg BT 58.00 368.40 Td (angible ) Tj ET Q q 0 0 0 rg BT 85.27 368.40 Td (common ) Tj ET Q q 0 0 0 rg BT 117.42 368.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 166.67 368.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 189.48 368.40 Td (equals ) Tj ET Q q 0 0 0 rg BT 214.53 368.40 Td (total ) Tj ET Q q 0 0 0 rg BT 231.12 368.40 Td (common ) Tj ET Q q 0 0 0 rg BT 263.27 368.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 312.52 368.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 335.33 368.40 Td (less ) Tj ET Q q 0 0 0 rg BT 351.03 368.40 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 381.41 368.40 Td (and ) Tj ET Q q 0 0 0 rg BT 396.23 368.40 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 435.95 368.40 Td (intangible ) Tj ET Q q 0 0 0 rg BT 471.67 368.40 Td (assets. ) Tj ET Q q 0 0 0 rg BT 498.48 368.40 Td (Management ) Tj ET Q q 0 0 0 rg BT 546.65 368.40 Td (believes ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 358.40 Td (that ) Tj ET Q q 0 0 0 rg BT 69.48 358.40 Td (tangible ) Tj ET Q q 0 0 0 rg BT 99.63 358.40 Td (book ) Tj ET Q q 0 0 0 rg BT 119.12 358.40 Td (value ) Tj ET Q q 0 0 0 rg BT 140.38 358.40 Td (per ) Tj ET Q q 0 0 0 rg BT 154.07 358.40 Td (share ) Tj ET Q q 0 0 0 rg BT 176.22 358.40 Td (is ) Tj ET Q q 0 0 0 rg BT 184.13 358.40 Td (a ) Tj ET Q q 0 0 0 rg BT 190.71 358.40 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 231.98 358.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 265.24 358.40 Td (of ) Tj ET Q q 0 0 0 rg BT 274.05 358.40 Td (the ) Tj ET Q q 0 0 0 rg BT 287.30 358.40 Td (tangible ) Tj ET Q q 0 0 0 rg BT 317.46 358.40 Td (assets ) Tj ET Q q 0 0 0 rg BT 342.71 358.40 Td (deployed ) Tj ET Q q 0 0 0 rg BT 377.32 358.40 Td (in ) Tj ET Q q 0 0 0 rg BT 385.68 358.40 Td (our ) Tj ET Q q 0 0 0 rg BT 399.38 358.40 Td (business. ) Tj ET Q q 0 0 0 rg BT 435.31 358.40 Td (Shareholders' ) Tj ET Q q 0 0 0 rg BT 486.55 358.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 510.04 358.40 Td (is ) Tj ET Q q 0 0 0 rg BT 517.95 358.40 Td (the ) Tj ET Q q 0 0 0 rg BT 531.20 358.40 Td (most ) Tj ET Q q 0 0 0 rg BT 550.67 358.40 Td (directly ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 348.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 99.39 348.40 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 118.53 348.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 140.62 348.40 Td ( ) Tj ET Q q 0 0 0 rg BT 144.20 348.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 177.14 348.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 211.85 348.40 Td (to ) Tj ET Q q 0 0 0 rg BT 222.11 348.40 Td (tangible ) Tj ET Q q 0 0 0 rg BT 253.72 348.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 305.08 348.40 Td (equity) Tj ET Q q 0 0 0 rg BT 325.83 348.40 Td (. ) Tj ET Q q 0 0 0 rg BT 331.41 348.40 Td (The ) Tj ET Q q 0 0 0 rg BT 348.78 348.40 Td (following ) Tj ET Q q 0 0 0 rg BT 383.49 348.40 Td (is ) Tj ET Q q 0 0 0 rg BT 392.85 348.40 Td (a ) Tj ET Q q 0 0 0 rg BT 400.89 348.40 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 451.17 348.40 Td (of ) Tj ET Q q 0 0 0 rg BT 461.42 348.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 512.79 348.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 537.72 348.40 Td (to ) Tj ET Q q 0 0 0 rg BT 547.98 348.40 Td (tangible ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 54.00 338.40 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 104.00 338.40 Td (equity: ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 305.9 m 431.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 305.9 m 504.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 305.9 m 577.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 305.9 m 431.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 305.9 m 504.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 305.9 m 577.5 305.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 283.9 m 431.5 283.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 283.9 m 504.5 283.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 283.9 m 577.5 283.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 273.9 m 431.5 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 271.9 m 431.5 271.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 273.9 m 504.5 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 271.9 m 504.5 271.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 273.9 m 577.5 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 271.9 m 577.5 271.9 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.35 319.58 Td (As of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.35 319.58 Td (As of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 535.35 319.58 Td (As of) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 57.00 309.30 Td (\(Amounts in thousands\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.00 308.58 Td (Mar) Tj ET Q q 0 0 0 rg BT 387.56 308.58 Td (. 31, 2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 446.55 308.58 Td (Dec. 31, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.00 308.58 Td (Mar) Tj ET Q q 0 0 0 rg BT 533.34 308.58 Td (. 31, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 297.58 Td (Common shareholders) Tj ET Q q 0 0 0 rg BT 139.55 297.58 Td ( equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.00 297.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.30 297.58 Td (661,320) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 297.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.35 297.63 Td (677,444) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.00 297.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.35 297.63 Td (687,992) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 286.58 Td (Deduct: goodwill and identifiable intangible assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.80 286.63 Td (92,1) Tj ET Q q 0 0 0 rg BT 419.37 286.63 Td (17) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.80 286.63 Td (94,229) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.35 286.63 Td (102,074) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 275.58 Td (T) Tj ET Q q 0 0 0 rg BT 61.00 275.58 Td (angible common shareholders) Tj ET Q q 0 0 0 rg BT 169.65 275.58 Td ( equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.00 275.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 399.30 275.58 Td (569,203) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 275.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.35 275.63 Td (583,215) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.00 275.58 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 545.35 275.63 Td (585,918) Tj ET Q BT /F1 10.00 Tf ET BT /F3 12.00 Tf ET q 0 0 0 rg BT 36.00 241.00 Td (Conference Call) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 227.50 Td (Chad R. ) Tj ET Q q 0 0 0 rg BT 74.91 227.50 Td (Abraham, chief executive of) Tj ET Q q 0 0 0 rg BT 198.13 227.50 Td (ficer; Debbra L. Schoneman, president; and ) Tj ET Q q 0 0 0 rg BT 394.17 227.50 Td (T) Tj ET Q q 0 0 0 rg BT 399.91 227.50 Td (imothy L. 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Callers should dial in at least 15 minutes prior to the call time. ) Tj ET Q q 0 0 0 rg BT 499.03 173.50 Td (A) Tj ET Q q 0 0 0 rg BT 505.15 173.50 Td ( replay of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 160.00 Td (conference call will be available beginning at approximately noon Eastern ) Tj ET Q q 0 0 0 rg BT 363.24 160.00 Td (T) Tj ET Q q 0 0 0 rg BT 368.98 160.00 Td (ime \(1) Tj ET Q q 0 0 0 rg BT 396.02 160.00 Td (1 a.m. Central ) Tj ET Q q 0 0 0 rg BT 461.42 160.00 Td (T) Tj ET Q q 0 0 0 rg BT 467.16 160.00 Td (ime\) on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.73 160.00 Td (April26, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.44 160.00 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 146.50 Td (the same W) Tj ET Q q 0 0 0 rg BT 89.17 146.50 Td (eb address or by dialing \(855\) 859-2056 and referencing reservation number: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.27 146.50 Td (7079807) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.20 146.50 Td (.) 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LP) Tj ET Q q 0 0 0 rg BT 533.72 483.40 Td (, or other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 470.90 Td (similar matters. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 452.40 Td (Forward-looking statements involve inherent risks and uncertainties, both known and unknown, and important factors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 439.90 Td (could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 175.34 439.90 Td (fer materially from those anticipated or discussed in the forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 548.11 439.90 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 427.40 Td (risks, uncertainties and important factors include, but are not limited to, the following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 411.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 411.90 Td (revenues from corporate advisory \(i.e., M&A\) engagements and equity and debt financings may vary materially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 399.40 Td (depending on the number) Tj ET Q q 0 0 0 rg BT 185.43 399.40 Td (, size, and timing of completed transactions, and completed transactions do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 386.90 Td (generally provide for subsequent engagements;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 371.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 371.40 Td (market and economic conditions or developments may be unfavorable, including in specific sectors in which we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 358.90 Td (operate, and these conditions or developments, such as market fluctuations or volatility) Tj ET Q q 0 0 0 rg BT 455.91 358.90 Td (, may adversely af) Tj ET Q q 0 0 0 rg BT 536.87 358.90 Td (fect our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 346.40 Td (business, revenue levels and profitability;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 330.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 330.90 Td (the volume of anticipated transactions including corporate advisory \(i.e., M&A\), equity financing, and debt ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 318.40 Td (financing and the corresponding revenues from the transactions may vary from quarter to quarter significantly) Tj ET Q q 0 0 0 rg BT 562.62 318.40 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 305.90 Td (particularly if there is a decline in macroeconomic conditions or the financial markets;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 290.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 290.40 Td (asset management revenue may vary based on product trends favoring passive investment products, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 277.90 Td (investment performance and market factors, with market factors impacting certain sectors that are more heavily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 265.40 Td (weighted to our business \(e.g. energy-based MLP) Tj ET Q q 0 0 0 rg BT 292.50 265.40 Td ( funds\);) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 249.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 249.90 Td (interest rate volatility) Tj ET Q q 0 0 0 rg BT 162.41 249.90 Td (, especially if the changes are rapid or severe, could negatively impact our fixed income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 237.40 Td (institutional business and the negative impact could be exaggerated by reduced liquidity in the fixed income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 224.90 Td (markets; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 209.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 209.40 Td (the expected benefits of any acquisitions or strategic hires, including that of W) Tj ET Q q 0 0 0 rg BT 416.45 209.40 Td (eeden & Co. 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W) Tj ET Q q 0 0 0 rg BT 124.75 72.40 Td (e undertake no obligation to update them in light of new information or future events. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 84.20 53.90 Td ( 2019 Piper Jaf) Tj ET Q q 0 0 0 rg BT 158.65 53.90 Td (fray Companies, 800 Nicollet Mall, Suite 1000, Minneapolis, Minnesota 55402-7020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.65 41.40 Td (###) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I9 Do Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (10) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 729.90 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 729.90 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 712.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 48.44 712.50 Td (eliminary Results of Operations \(U.S. GAAP) Tj ET Q q 0 0 0 rg BT 276.10 712.50 Td ( Unaudited\)) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 666.00 218.00 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0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 645.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 623.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 623.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 623.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 623.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 623.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 623.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 623.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 623.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 623.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 623.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 601.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 601.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 601.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 601.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 601.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 601.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 601.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 601.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 601.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 601.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 583.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 583.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 583.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 583.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 583.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 583.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 583.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 583.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 583.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 583.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 565.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 565.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 565.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 565.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 565.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 565.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 565.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 565.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 565.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 565.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 547.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 547.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 547.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 547.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 547.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 547.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 547.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 547.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 547.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 547.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 524.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 524.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 524.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 524.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 524.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 524.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 524.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 524.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 524.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 524.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 502.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 502.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 502.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 502.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 502.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 502.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 502.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 502.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 502.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 502.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 480.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 480.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 480.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 480.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 480.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 480.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 480.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 480.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 480.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 480.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 458.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 458.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 458.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 458.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 458.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 458.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 458.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 458.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 458.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 458.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 436.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 436.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 436.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 436.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 436.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 436.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 436.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 436.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 436.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 436.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 418.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 418.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 418.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 418.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 418.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 418.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 418.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 418.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 418.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 418.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 399.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 399.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 399.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 399.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 399.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 399.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 399.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 399.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 399.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 399.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 381.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 381.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 381.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 381.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 381.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 381.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 381.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 381.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 381.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 381.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 363.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 363.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 363.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 363.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 363.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 363.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 363.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 363.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 363.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 363.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 344.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 344.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 344.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 344.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 344.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 344.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 344.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 344.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 344.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 344.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 325.00 218.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 325.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 325.00 14.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 325.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 325.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 325.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 325.00 15.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 325.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 325.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 325.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 297.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 297.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 297.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 297.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 297.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 297.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 297.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 297.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 297.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 297.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 274.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 274.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 274.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 274.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 274.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 274.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 274.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 274.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 274.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 274.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 256.00 218.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 256.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 256.00 14.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 256.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 256.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 256.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 256.00 15.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 256.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 256.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 256.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 237.00 218.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 237.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 237.00 14.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 237.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 237.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 237.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 237.00 15.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 237.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 237.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 237.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 205.00 218.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 254.50 205.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 311.50 205.00 14.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 325.50 205.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 382.50 205.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 386.50 205.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 443.50 205.00 15.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 205.00 57.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 205.00 4.00 -11.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 205.00 57.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 690 m 311.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 690 m 325.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 690 m 382.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 690 m 386.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 690 m 443.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 690 m 515.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 690 m 519.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 690 m 311.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 690 m 382.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 690 m 443.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 666 m 311.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 666 m 382.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 666 m 443.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 666 m 515.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 666 m 576.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 601 m 311.5 601 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 601 m 382.5 601 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 601 m 443.5 601 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 601 m 515.5 601 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 601 m 576.5 601 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 572 m 311.5 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 572 m 382.5 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 572 m 443.5 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 572 m 515.5 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 572 m 576.5 572 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 554 m 311.5 554 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 554 m 382.5 554 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 554 m 443.5 554 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 554 m 515.5 554 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 554 m 576.5 554 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 436 m 311.5 436 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 436 m 382.5 436 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 436 m 443.5 436 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 436 m 515.5 436 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 436 m 576.5 436 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 425 m 311.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 425 m 382.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 425 m 443.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 425 m 515.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 425 m 576.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 425 m 311.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 425 m 382.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 425 m 443.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 425 m 515.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 425 m 576.5 425 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 388 m 311.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 388 m 382.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 388 m 443.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 388 m 515.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 388 m 576.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 388 m 576.5 388 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 351 m 311.5 351 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 351 m 382.5 351 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 351 m 443.5 351 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 351 m 515.5 351 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 351 m 576.5 351 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 333 m 311.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 331 m 311.5 331 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 333 m 382.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 331 m 382.5 331 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 333 m 443.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 331 m 443.5 331 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 333 m 515.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 331 m 515.5 331 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 333 m 576.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 331 m 576.5 331 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 305 m 311.5 305 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254.5 303 m 311.5 303 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 305 m 382.5 305 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 303 m 382.5 303 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 305 m 443.5 305 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.5 303 m 443.5 303 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 305 m 515.5 305 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 303 m 515.5 303 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 305 m 576.5 305 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 303 m 576.5 303 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 39.00 693.26 Td () Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 307.55 693.40 Td (Thr) Tj ET Q q 0 0 0 rg BT 322.47 693.40 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 483.45 693.40 Td (Per) Tj ET Q q 0 0 0 rg BT 496.86 693.40 Td (cent Inc/\(Dec\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 266.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 283.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 338.35 681.40 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 398.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 415.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 473.85 681.40 Td (1Q '19) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 534.85 681.40 Td (1Q '19) Tj ET Q BT /F8 7.00 Tf ET q 0 0 0 rg BT 39.00 670.04 Td (\(Amounts in thousands, except per shar) Tj ET Q q 0 0 0 rg BT 149.56 670.04 Td (e data\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 273.50 669.40 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 344.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 405.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 467.60 669.40 Td (vs. 4Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 528.60 669.40 Td (vs. 1Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 657.45 Td (Revenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 647.31 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 647.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 647.31 Td (141,061) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 647.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 647.31 Td (177,775) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 647.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 647.31 Td (120,841) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 647.31 Td (\(20.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 647.31 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 647.31 Td (16.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 647.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 636.31 Td (Institutional brokerage) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 636.31 Td (34,954) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 636.31 Td (32,102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 636.31 Td (27,645) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 636.31 Td (8.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 636.31 Td (26.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 625.31 Td (Asset management) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 625.31 Td (10,418) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 625.31 Td (1) Tj ET Q q 0 0 0 rg BT 358.75 625.31 Td (1,097) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 625.31 Td (12,589) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 625.31 Td (\(6.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 625.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 625.31 Td (\(17.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 625.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 614.31 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 614.31 Td (7,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 614.31 Td (7,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 614.31 Td (10,413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 614.31 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 614.31 Td (\(27.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 614.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 603.31 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 603.31 Td (475) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 355.75 603.31 Td (\(1,760) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 379.00 603.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 603.31 Td (2,912) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 603.31 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 603.31 Td (\(83.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 603.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 592.31 Td (T) Tj ET Q q 0 0 0 rg BT 56.18 592.31 Td (otal revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 592.31 Td (194,475) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 592.31 Td (226,780) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 592.31 Td (174,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 592.31 Td (\(14.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 592.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 592.31 Td (1) Tj ET Q q 0 0 0 rg BT 554.25 592.31 Td (1.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 574.31 Td (Interest expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 574.31 Td (2,643) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 574.31 Td (2,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 574.31 Td (5,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 574.31 Td (9.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 574.31 Td (\(50.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 574.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 556.31 Td (Net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 556.31 Td (191,832) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 556.31 Td (224,371) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 556.31 Td (169,062) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 556.31 Td (\(14.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 556.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 556.31 Td (13.5) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 538.40 Td (Non-inter) Tj ET Q q 0 0 0 rg BT 76.41 538.40 Td (est expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 526.31 Td (Compensation and benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 526.31 Td (122,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 526.31 Td (142,952) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 526.31 Td (1) Tj ET Q q 0 0 0 rg BT 415.25 526.31 Td (15,170) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 526.31 Td (\(14.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 526.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 526.31 Td (6.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 515.31 Td (Outside services) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 515.31 Td (9,142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 515.31 Td (10,933) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 515.31 Td (8,939) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 515.31 Td (\(16.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 515.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 515.31 Td (2.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 504.31 Td (Occupancy and equipment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 504.31 Td (8,750) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 504.31 Td (9,245) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 504.31 Td (8,578) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 504.31 Td (\(5.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 504.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 504.31 Td (2.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 493.31 Td (Communications) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 493.31 Td (8,630) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 493.31 Td (7,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 493.31 Td (8,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 493.31 Td (14.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 493.31 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 482.31 Td (Marketing and business development) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 482.31 Td (7,395) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 482.31 Td (7,675) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 482.31 Td (7,299) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 482.31 Td (\(3.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 482.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 482.31 Td (1.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 471.31 Td (Deal-related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 471.31 Td (4,728) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 471.31 Td (6,232) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 471.31 Td (5,051) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 471.31 Td (\(24.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 471.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.25 471.31 Td (\(6.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 471.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 460.31 Td (T) Tj ET Q q 0 0 0 rg BT 50.34 460.31 Td (rade execution and clearance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 460.31 Td (1,806) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 460.31 Td (1,774) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 460.31 Td (2,163) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 460.31 Td (1.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 460.31 Td (\(16.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 460.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 449.31 Td (Intangible asset amortization) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 449.31 Td (2,1) Tj ET Q q 0 0 0 rg BT 299.00 449.31 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 449.31 Td (2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 449.31 Td (2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 449.31 Td (\(19.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 449.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 449.31 Td (\(19.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 449.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 438.31 Td (Other operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 438.31 Td (3,703) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.75 438.31 Td (3,491) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 438.31 Td (2,583) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 438.31 Td (6.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 438.31 Td (43.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 427.31 Td (T) Tj ET Q q 0 0 0 rg BT 55.87 427.31 Td (otal non-interest expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.75 427.31 Td (168,902) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 427.31 Td (192,426) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.75 427.31 Td (161,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 427.31 Td (\(12.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 427.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 427.31 Td (4.9) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 409.40 Td (Income befor) Tj ET Q q 0 0 0 rg BT 90.15 409.40 Td (e income tax expense/\(benefit\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 409.26 Td (22,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 409.26 Td (31,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 409.26 Td (8,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 409.26 Td (\(28.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 409.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 409.26 Td (185.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 390.31 Td (Income tax expense/\(benefit\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.75 390.31 Td (4,124) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 390.31 Td (13,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.75 390.31 Td (\(2,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 440.00 390.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 390.31 Td (\(69.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 390.31 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 390.31 Td (N/M) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 372.45 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 372.31 Td (18,806) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 372.31 Td (18,249) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 372.31 Td (10,619) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 372.31 Td (3.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 372.31 Td (77.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 354.26 Td (Net income/\(loss\) applicable to noncontrolling interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 291.50 354.26 Td (\(616) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.00 354.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.00 354.26 Td (65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 354.26 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 354.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 354.26 Td (N/M) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 335.40 Td (Net income applicable to Piper) Tj ET Q q 0 0 0 rg BT 156.90 335.40 Td ( Jaffray Companies \(a\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 335.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 335.26 Td (19,422) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 335.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 335.26 Td (18,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 335.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 335.26 Td (10,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 335.26 Td (6.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 335.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 335.26 Td (83.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 335.26 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 316.40 Td (Net income applicable to Piper) Tj ET Q q 0 0 0 rg BT 156.90 316.40 Td ( Jaffray Companies) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 43.50 307.40 Td (common shar) Tj ET Q q 0 0 0 rg BT 95.67 307.40 Td (eholders \(a\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 308.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 308.46 Td (17,835) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 308.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 308.46 Td (16,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 308.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 308.46 Td (6,435) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 308.46 Td (10.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 308.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 308.46 Td (177.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 308.46 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 288.40 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 89.09 288.40 Td ( common shar) Tj ET Q q 0 0 0 rg BT 143.43 288.40 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 276.31 Td (Basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 276.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 276.31 Td (1.35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 276.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.25 276.31 Td (1.22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 276.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.25 276.31 Td (0.47) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 276.31 Td (10.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 276.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 276.31 Td (187.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 276.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 265.31 Td (Diluted \(b\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 265.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 265.31 Td (1.32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 265.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.25 265.31 Td (1.21) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 265.31 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.25 265.31 Td (0.47) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 265.31 Td (9.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 265.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 265.31 Td (180.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 265.31 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 247.40 Td (Dividends declar) Tj ET Q q 0 0 0 rg BT 103.67 247.40 Td (ed per) Tj ET Q q 0 0 0 rg BT 127.75 247.40 Td ( common shar) Tj ET Q q 0 0 0 rg BT 182.09 247.40 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 247.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 247.26 Td (1.39) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 314.00 248.35 Td (\(c\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.00 247.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 363.25 247.26 Td (0.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.00 247.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.25 247.26 Td (2.00) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 446.00 248.35 Td (\(d\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 247.26 Td (265.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 247.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 247.26 Td (\(30.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 247.26 Td (\)%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 228.40 Td (W) Tj ET Q q 0 0 0 rg BT 47.50 228.40 Td (eighted average number) Tj ET Q q 0 0 0 rg BT 140.32 228.40 Td ( of common shar) Tj ET Q q 0 0 0 rg BT 204.41 228.40 Td (es) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 43.50 219.40 Td (outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 207.31 Td (Basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 207.31 Td (13,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 207.31 Td (13,191) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 207.31 Td (13,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 207.31 Td (0.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 207.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 207.31 Td (0.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 207.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 196.31 Td (Diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.25 196.31 Td (13,530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 196.31 Td (13,367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.25 196.31 Td (13,382) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 196.31 Td (1.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 196.31 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 196.31 Td (1.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 196.31 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 181.90 Td (N/M ) Tj ET Q q 0 0 0 rg BT 52.22 181.90 Td ( ) Tj ET Q q 0 0 0 rg BT 61.34 181.90 Td (Not ) Tj ET Q q 0 0 0 rg BT 74.89 181.90 Td (meaningful) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 169.30 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 54.00 169.30 Td (Piper ) Tj ET Q q 0 0 0 rg BT 73.58 169.30 Td (Jaffray ) Tj ET Q q 0 0 0 rg BT 98.04 169.30 Td (Companies ) Tj ET Q q 0 0 0 rg BT 135.84 169.30 Td (calculates ) Tj ET Q q 0 0 0 rg BT 170.08 169.30 Td (earnings ) Tj ET Q q 0 0 0 rg BT 199.88 169.30 Td (per ) Tj ET Q q 0 0 0 rg BT 212.35 169.30 Td (common ) Tj ET Q q 0 0 0 rg BT 241.26 169.30 Td (shar) Tj ET Q q 0 0 0 rg BT 255.19 169.30 Td (e ) Tj ET Q q 0 0 0 rg BT 260.54 169.30 Td (using ) Tj ET Q q 0 0 0 rg BT 279.68 169.30 Td (the ) Tj ET Q q 0 0 0 rg BT 291.25 169.30 Td (two-class ) Tj ET Q q 0 0 0 rg BT 323.28 169.30 Td (method, ) Tj ET Q q 0 0 0 rg BT 350.63 169.30 Td (which ) Tj ET Q q 0 0 0 rg BT 371.54 169.30 Td (r) Tj ET Q q 0 0 0 rg BT 374.36 169.30 Td (equir) Tj ET Q q 0 0 0 rg BT 390.95 169.30 Td (es ) Tj ET Q q 0 0 0 rg BT 399.42 169.30 Td (the ) Tj ET Q q 0 0 0 rg BT 410.99 169.30 Td (allocation ) Tj ET Q q 0 0 0 rg BT 445.24 169.30 Td (of ) Tj ET Q q 0 0 0 rg BT 453.26 169.30 Td (distributed ) Tj ET Q q 0 0 0 rg BT 489.73 169.30 Td (and ) Tj ET Q q 0 0 0 rg BT 503.54 169.30 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 548.01 169.30 Td (earnings ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 54.00 159.70 Td (to ) Tj ET Q q 0 0 0 rg BT 62.06 159.70 Td (participating ) Tj ET Q q 0 0 0 rg BT 105.67 159.70 Td (securities. ) Tj ET Q q 0 0 0 rg BT 140.16 159.70 Td (No ) Tj ET Q q 0 0 0 rg BT 151.33 159.70 Td (allocation ) Tj ET Q q 0 0 0 rg BT 185.61 159.70 Td (of ) Tj ET Q q 0 0 0 rg BT 193.66 159.70 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 238.17 159.70 Td (earnings ) Tj ET Q q 0 0 0 rg BT 268.00 159.70 Td (is ) Tj ET Q q 0 0 0 rg BT 275.17 159.70 Td (made ) Tj ET Q q 0 0 0 rg BT 294.33 159.70 Td (for ) Tj ET Q q 0 0 0 rg BT 305.50 159.70 Td (periods ) Tj ET Q q 0 0 0 rg BT 331.34 159.70 Td (in ) Tj ET Q q 0 0 0 rg BT 339.39 159.70 Td (which ) Tj ET Q q 0 0 0 rg BT 360.34 159.70 Td (a ) Tj ET Q q 0 0 0 rg BT 366.17 159.70 Td (loss ) Tj ET Q q 0 0 0 rg BT 380.45 159.70 Td (is ) Tj ET Q q 0 0 0 rg BT 387.62 159.70 Td (incurr) Tj ET Q q 0 0 0 rg BT 407.33 159.70 Td (ed, ) Tj ET Q q 0 0 0 rg BT 418.71 159.70 Td (or ) Tj ET Q q 0 0 0 rg BT 427.66 159.70 Td (for ) Tj ET Q q 0 0 0 rg BT 438.83 159.70 Td (periods ) Tj ET Q q 0 0 0 rg BT 464.66 159.70 Td (in ) Tj ET Q q 0 0 0 rg BT 472.72 159.70 Td (which ) Tj ET Q q 0 0 0 rg BT 493.66 159.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 510.16 159.70 Td (dividends ) Tj ET Q q 0 0 0 rg BT 542.65 159.70 Td (exceed ) Tj ET Q q 0 0 0 rg BT 566.24 159.70 Td (net ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 54.00 150.10 Td (income ) Tj ET Q q 0 0 0 rg BT 78.23 150.10 Td (r) Tj ET Q q 0 0 0 rg BT 81.05 150.10 Td (esulting ) Tj ET Q q 0 0 0 rg BT 107.51 150.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.86 150.10 Td (an ) Tj ET Q q 0 0 0 rg BT 123.99 150.10 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 167.79 150.10 Td (loss. ) Tj ET Q q 0 0 0 rg BT 183.36 150.10 Td (Distributed ) Tj ET Q q 0 0 0 rg BT 220.94 150.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 250.07 150.10 Td (\(e.g., ) Tj ET Q q 0 0 0 rg BT 267.41 150.10 Td (dividends\) ) Tj ET Q q 0 0 0 rg BT 301.86 150.10 Td (ar) Tj ET Q q 0 0 0 rg BT 308.68 150.10 Td (e ) Tj ET Q q 0 0 0 rg BT 313.36 150.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 344.26 150.10 Td (to ) Tj ET Q q 0 0 0 rg BT 351.61 150.10 Td (participating ) Tj ET Q q 0 0 0 rg BT 394.52 150.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 428.30 150.10 Td (Participating ) Tj ET Q q 0 0 0 rg BT 472.10 150.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 503.89 150.10 Td (include ) Tj ET Q q 0 0 0 rg BT 528.56 150.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.46 150.10 Td ( ) Tj ET Q q 0 0 0 rg BT 540.59 150.10 Td (Company) Tj ET Q q 0 0 0 rg BT 572.89 150.10 Td (s ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 54.00 140.50 Td (unvested ) Tj ET Q q 0 0 0 rg BT 83.99 140.50 Td (r) Tj ET Q q 0 0 0 rg BT 86.80 140.50 Td (estricted ) Tj ET Q q 0 0 0 rg BT 116.35 140.50 Td (shar) Tj ET Q q 0 0 0 rg BT 130.28 140.50 Td (es ) Tj ET Q q 0 0 0 rg BT 138.95 140.50 Td (for ) Tj ET Q q 0 0 0 rg BT 150.28 140.50 Td (r) Tj ET Q q 0 0 0 rg BT 153.10 140.50 Td (estricted ) Tj ET Q q 0 0 0 rg BT 182.64 140.50 Td (stock ) Tj ET Q q 0 0 0 rg BT 201.08 140.50 Td (awar) Tj ET Q q 0 0 0 rg BT 217.23 140.50 Td (ds ) Tj ET Q q 0 0 0 rg BT 226.35 140.50 Td (granted ) Tj ET Q q 0 0 0 rg BT 253.23 140.50 Td (prior ) Tj ET Q q 0 0 0 rg BT 271.68 140.50 Td (to ) Tj ET Q q 0 0 0 rg BT 279.91 140.50 Td (2019.) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 127.90 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 54.00 127.90 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 85.50 127.90 Td (per ) Tj ET Q q 0 0 0 rg BT 98.34 127.90 Td (diluted ) Tj ET Q q 0 0 0 rg BT 122.73 127.90 Td (common ) Tj ET Q q 0 0 0 rg BT 152.00 127.90 Td (shar) Tj ET Q q 0 0 0 rg BT 165.93 127.90 Td (e ) Tj ET Q q 0 0 0 rg BT 171.65 127.90 Td (is ) Tj ET Q q 0 0 0 rg BT 179.15 127.90 Td (calculated ) Tj ET Q q 0 0 0 rg BT 214.64 127.90 Td (using ) Tj ET Q q 0 0 0 rg BT 234.15 127.90 Td (the ) Tj ET Q q 0 0 0 rg BT 246.09 127.90 Td (basic ) Tj ET Q q 0 0 0 rg BT 265.15 127.90 Td (weighted ) Tj ET Q q 0 0 0 rg BT 296.20 127.90 Td (average ) Tj ET Q q 0 0 0 rg BT 324.13 127.90 Td (number ) Tj ET Q q 0 0 0 rg BT 350.74 127.90 Td (of ) Tj ET Q q 0 0 0 rg BT 359.13 127.90 Td (common ) Tj ET Q q 0 0 0 rg BT 388.41 127.90 Td (shar) Tj ET Q q 0 0 0 rg BT 402.34 127.90 Td (es ) Tj ET Q q 0 0 0 rg BT 411.17 127.90 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 451.12 127.90 Td (for ) Tj ET Q q 0 0 0 rg BT 462.63 127.90 Td (periods ) Tj ET Q q 0 0 0 rg BT 488.80 127.90 Td (in ) Tj ET Q q 0 0 0 rg BT 497.19 127.90 Td (which ) Tj ET Q q 0 0 0 rg BT 518.47 127.90 Td (a ) Tj ET Q q 0 0 0 rg BT 524.63 127.90 Td (loss ) Tj ET Q q 0 0 0 rg BT 539.25 127.90 Td (is ) Tj ET Q q 0 0 0 rg BT 546.76 127.90 Td (incurr) Tj ET Q q 0 0 0 rg BT 566.46 127.90 Td (ed, ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 54.00 118.30 Td (or ) Tj ET Q q 0 0 0 rg BT 63.11 118.30 Td (for ) Tj ET Q q 0 0 0 rg BT 74.45 118.30 Td (periods ) Tj ET Q q 0 0 0 rg BT 100.45 118.30 Td (in ) Tj ET Q q 0 0 0 rg BT 108.67 118.30 Td (which ) Tj ET Q q 0 0 0 rg BT 129.78 118.30 Td (cash ) Tj ET Q q 0 0 0 rg BT 146.45 118.30 Td (dividends ) Tj ET Q q 0 0 0 rg BT 179.11 118.30 Td (exceed ) Tj ET Q q 0 0 0 rg BT 202.86 118.30 Td (net ) Tj ET Q q 0 0 0 rg BT 214.63 118.30 Td (income ) Tj ET Q q 0 0 0 rg BT 239.73 118.30 Td (r) Tj ET Q q 0 0 0 rg BT 242.55 118.30 Td (esulting ) Tj ET Q q 0 0 0 rg BT 269.88 118.30 Td (in ) Tj ET Q q 0 0 0 rg BT 278.11 118.30 Td (an ) Tj ET Q q 0 0 0 rg BT 288.11 118.30 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 332.77 118.30 Td (loss.) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 105.70 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 54.00 105.70 Td (Includes ) Tj ET Q q 0 0 0 rg BT 83.10 105.70 Td (the ) Tj ET Q q 0 0 0 rg BT 94.88 105.70 Td (declaration ) Tj ET Q q 0 0 0 rg BT 133.76 105.70 Td (of ) Tj ET Q q 0 0 0 rg BT 141.98 105.70 Td (a ) Tj ET Q q 0 0 0 rg BT 147.98 105.70 Td (special ) Tj ET Q q 0 0 0 rg BT 172.64 105.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 189.30 105.70 Td (dividend ) Tj ET Q q 0 0 0 rg BT 218.85 105.70 Td (of ) Tj ET Q q 0 0 0 rg BT 227.07 105.70 Td ($1.01 ) Tj ET Q q 0 0 0 rg BT 247.07 105.70 Td (per ) Tj ET Q q 0 0 0 rg BT 259.74 105.70 Td (shar) Tj ET Q q 0 0 0 rg BT 273.67 105.70 Td (e ) Tj ET Q q 0 0 0 rg BT 279.22 105.70 Td (and ) Tj ET Q q 0 0 0 rg BT 293.22 105.70 Td (a ) Tj ET Q q 0 0 0 rg BT 299.22 105.70 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 330.99 105.70 Td (cash ) Tj ET Q q 0 0 0 rg BT 347.66 105.70 Td (dividend ) Tj ET Q q 0 0 0 rg BT 377.20 105.70 Td (of ) Tj ET Q q 0 0 0 rg BT 385.43 105.70 Td ($0.375 ) Tj ET Q q 0 0 0 rg BT 409.43 105.70 Td (per ) Tj ET Q q 0 0 0 rg BT 422.09 105.70 Td (shar) Tj ET Q q 0 0 0 rg BT 436.02 105.70 Td (e ) Tj ET Q q 0 0 0 rg BT 441.57 105.70 Td (on ) Tj ET Q q 0 0 0 rg BT 451.57 105.70 Td (the ) Tj ET Q q 0 0 0 rg BT 463.34 105.70 Td (Company's ) Tj ET Q q 0 0 0 rg BT 500.83 105.70 Td (common ) Tj ET Q q 0 0 0 rg BT 529.94 105.70 Td (stock.) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 93.10 Td (\(d\) ) Tj ET Q q 0 0 0 rg BT 54.00 93.10 Td (Includes ) Tj ET Q q 0 0 0 rg BT 83.10 93.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.88 93.10 Td (declaration ) Tj ET Q q 0 0 0 rg BT 133.76 93.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.98 93.10 Td (a ) Tj ET Q q 0 0 0 rg BT 147.98 93.10 Td (special ) Tj ET Q q 0 0 0 rg BT 172.64 93.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 189.30 93.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 218.85 93.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.07 93.10 Td ($1.62 ) Tj ET Q q 0 0 0 rg BT 247.07 93.10 Td (per ) Tj ET Q q 0 0 0 rg BT 259.74 93.10 Td (shar) Tj ET Q q 0 0 0 rg BT 273.67 93.10 Td (e ) Tj ET Q q 0 0 0 rg BT 279.22 93.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.22 93.10 Td (a ) Tj ET Q q 0 0 0 rg BT 299.22 93.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 330.99 93.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 347.66 93.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 377.20 93.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.43 93.10 Td ($0.375 ) Tj ET Q q 0 0 0 rg BT 409.43 93.10 Td (per ) Tj ET Q q 0 0 0 rg BT 422.09 93.10 Td (shar) Tj ET Q q 0 0 0 rg BT 436.02 93.10 Td (e ) Tj ET Q q 0 0 0 rg BT 441.57 93.10 Td (on ) Tj ET Q q 0 0 0 rg BT 451.57 93.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.34 93.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 500.83 93.10 Td (common ) Tj ET Q q 0 0 0 rg BT 529.94 93.10 Td (stock.) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I10 Do Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.80 33.25 Td (1) Tj ET Q q 0 0 0 rg BT 305.62 33.25 Td (1) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 729.90 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 729.90 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 712.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 48.44 712.50 Td (eliminary Segment Data \(U.S. GAAP) Tj ET Q q 0 0 0 rg BT 237.09 712.50 Td ( Unaudited\)) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 660.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 660.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 660.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 660.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 660.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 660.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 660.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 660.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 660.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 660.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 636.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 636.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 636.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 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0.9490196078431372 rg /GS0 gs 336.50 369.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 369.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 369.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 369.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 369.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 369.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 369.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 345.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 345.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 345.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 345.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 345.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 345.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 345.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 345.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 345.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 345.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 321.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 321.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 321.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 321.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 321.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 321.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 321.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 321.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 321.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 321.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 302.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 302.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 302.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 302.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 302.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 302.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 302.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 302.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 302.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 302.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 283.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 283.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 283.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 283.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 283.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 283.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 283.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 283.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 283.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 283.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 264.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 264.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 264.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 264.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 264.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 264.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 264.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 264.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 264.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 264.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 245.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 245.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 245.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 245.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 245.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 245.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 245.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 245.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 245.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 245.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 226.00 239.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 226.00 57.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 226.00 4.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 226.00 57.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 226.00 4.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 226.00 57.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 226.00 4.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 226.00 57.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 226.00 4.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 226.00 57.00 -8.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 207.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 207.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 207.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 207.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 207.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 207.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 207.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 207.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 207.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 207.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 188.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 188.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 188.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 188.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 188.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 188.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 188.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 188.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 188.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 188.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 169.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 169.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 169.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 169.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 169.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 169.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 169.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 169.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 169.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 169.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 150.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 150.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 150.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 150.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 150.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 150.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 150.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 150.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 150.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 150.00 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 688 m 332.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 688 m 336.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 688 m 393.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 688 m 397.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 688 m 454.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 688 m 515.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 688 m 519.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 688 m 576.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 688 m 332.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 688 m 336.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 688 m 393.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 688 m 397.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 688 m 454.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 688 m 515.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 688 m 519.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 688 m 576.5 688 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 660 m 332.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 660 m 393.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 660 m 454.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 660 m 515.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 660 m 576.5 660 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 588 m 332.5 588 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 588 m 393.5 588 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 588 m 454.5 588 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 588 m 515.5 588 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 588 m 576.5 588 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 533 m 332.5 533 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 533 m 393.5 533 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 533 m 454.5 533 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 533 m 515.5 533 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 533 m 576.5 533 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 464 m 332.5 464 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 464 m 393.5 464 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 464 m 454.5 464 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 464 m 515.5 464 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 464 m 576.5 464 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 426 m 332.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 426 m 393.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 426 m 454.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 426 m 515.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 426 m 576.5 426 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 407 m 332.5 407 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 407 m 393.5 407 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 407 m 454.5 407 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 407 m 515.5 407 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 407 m 576.5 407 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 333 m 332.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 333 m 393.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 333 m 454.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 333 m 515.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 333 m 576.5 333 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 302 m 332.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 302 m 393.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 302 m 454.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 302 m 515.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 302 m 576.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 264 m 332.5 264 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 264 m 393.5 264 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 264 m 454.5 264 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 264 m 515.5 264 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 264 m 576.5 264 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 245 m 332.5 245 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 245 m 393.5 245 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 245 m 454.5 245 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 245 m 515.5 245 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 245 m 576.5 245 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 176 m 332.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 176 m 393.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 176 m 454.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 176 m 515.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 176 m 576.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 176 m 576.5 176 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 158 m 332.5 158 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 156 m 332.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 158 m 393.5 158 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 156 m 393.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 158 m 454.5 158 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 156 m 454.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 158 m 515.5 158 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 156 m 515.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 158 m 576.5 158 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 156 m 576.5 156 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 692.25 Td () Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 323.55 692.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 338.47 692.45 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 483.45 692.45 Td (Per) Tj ET Q q 0 0 0 rg BT 496.86 692.45 Td (cent Inc/\(Dec\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 287.50 678.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 304.08 678.45 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 349.35 678.45 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 678.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 678.45 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 473.85 678.45 Td (1Q '19) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 534.85 678.45 Td (1Q '19) Tj ET Q BT /F8 7.00 Tf ET q 0 0 0 rg BT 39.00 664.04 Td (\(Dollars in thousands\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 294.50 664.45 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 355.50 664.45 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 664.45 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 467.60 664.45 Td (vs. 4Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 528.60 664.45 Td (vs. 1Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 651.40 Td (Capital Markets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 639.26 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 627.26 Td (Advisory services) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 627.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 627.26 Td (1) Tj ET Q q 0 0 0 rg BT 296.75 627.26 Td (14,879) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 627.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 627.26 Td (128,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 627.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 627.26 Td (75,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 627.26 Td (\(10.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 627.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 627.26 Td (52.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 627.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 615.26 Td (Financing) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.00 603.26 Td (Equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 603.26 Td (13,527) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 603.26 Td (22,304) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 603.26 Td (37,642) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 603.26 Td (\(39.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 603.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 603.26 Td (\(64.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 603.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.00 591.26 Td (Debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 591.26 Td (13,082) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 591.26 Td (27,789) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 591.26 Td (7,686) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 591.26 Td (\(52.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 591.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 591.26 Td (70.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 579.26 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 579.26 Td (otal investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 579.26 Td (141,488) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 579.26 Td (178,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.25 579.26 Td (120,657) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 579.26 Td (\(20.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 579.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 579.26 Td (17.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 560.26 Td (Institutional sales and trading) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 548.26 Td (Equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 548.26 Td (15,714) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 548.26 Td (22,526) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 548.26 Td (18,006) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 548.26 Td (\(30.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 548.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 548.26 Td (\(12.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 548.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 536.26 Td (Fixed income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 536.26 Td (23,669) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 536.26 Td (14,631) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 536.26 Td (16,334) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 536.26 Td (61.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 536.26 Td (44.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 524.26 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 524.26 Td (otal institutional sales and trading) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 524.26 Td (39,383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 524.26 Td (37,157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 524.26 Td (34,340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 524.26 Td (6.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 524.26 Td (14.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 505.26 Td (Management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.25 505.26 Td (1,129) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 505.26 Td (1,494) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 505.26 Td (1,388) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 505.26 Td (\(24.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 505.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 505.26 Td (\(18.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 505.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 486.26 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.00 486.26 Td (629) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.25 486.26 Td (\(1,317) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 486.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 486.26 Td (3,298) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 486.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 486.26 Td (\(80.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 486.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 467.26 Td (Long-term financing expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 305.00 467.26 Td (\(238) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.50 467.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 467.26 Td (\(442) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 467.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.25 467.26 Td (\(1,787) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.50 467.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 467.26 Td (\(46.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 467.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 467.26 Td (\(86.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 467.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 448.26 Td (Net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 448.26 Td (182,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 448.26 Td (215,035) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.25 448.26 Td (157,896) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 448.26 Td (\(15.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 448.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 448.26 Td (15.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 429.26 Td (Operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 429.26 Td (158,453) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 429.26 Td (181,660) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.25 429.26 Td (148,860) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 429.26 Td (\(12.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 429.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 429.26 Td (6.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 410.26 Td (Segment pre-tax operating income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 410.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 410.26 Td (23,938) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 410.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 410.26 Td (33,375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 410.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 410.26 Td (9,036) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 410.26 Td (\(28.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 410.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 410.26 Td (164.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 410.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 391.26 Td (Segment pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 156.55 391.26 Td (gin) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 291.85 391.26 Td (13.1%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.85 391.26 Td (15.5%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.10 391.26 Td (5.7%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 372.40 Td (Asset Management) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 360.26 Td (Management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 348.26 Td (Management fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 348.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.25 348.26 Td (9,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 348.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 348.26 Td (9,587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 348.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 348.26 Td (1) Tj ET Q q 0 0 0 rg BT 423.25 348.26 Td (1,193) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 348.26 Td (\(3.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 348.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 348.26 Td (\(17.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 348.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 336.26 Td (Performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 317.00 336.26 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.50 336.26 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 336.26 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 336.26 Td (\(93.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 336.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 336.26 Td (\(87.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 336.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 324.26 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 324.26 Td (otal management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.25 324.26 Td (9,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 324.26 Td (9,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 324.26 Td (1) Tj ET Q q 0 0 0 rg BT 423.25 324.26 Td (1,201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 324.26 Td (\(3.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 324.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 324.26 Td (\(17.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 324.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 305.26 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.00 305.26 Td (152) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.00 305.26 Td (\(267) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 305.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.50 305.26 Td (\(35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.50 305.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 305.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 305.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 286.26 Td (Net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 301.25 286.26 Td (9,441) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 286.26 Td (9,336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 286.26 Td (1) Tj ET Q q 0 0 0 rg BT 423.25 286.26 Td (1,166) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 286.26 Td (1.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 286.26 Td (\(15.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 286.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 267.26 Td (Operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 267.26 Td (10,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 267.26 Td (10,766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.75 267.26 Td (12,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 267.26 Td (\(2.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 267.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 267.26 Td (\(14.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 267.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 248.26 Td (Segment pre-tax operating loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 248.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 298.25 248.26 Td (\(1,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 321.50 248.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 248.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 359.25 248.26 Td (\(1,430) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.50 248.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 248.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.00 248.26 Td (\(998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.50 248.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 248.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 248.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 229.26 Td (Segment pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 156.63 229.26 Td (gin) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.85 229.26 Td (\(10.7\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.85 229.26 Td (\(15.3\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.10 229.26 Td (\(8.9\)%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 209.45 Td (T) Tj ET Q q 0 0 0 rg BT 44.18 209.45 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 198.26 Td (Net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 198.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 198.26 Td (191,832) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 198.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 198.26 Td (224,371) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 198.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.25 198.26 Td (169,062) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 198.26 Td (\(14.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 198.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 198.26 Td (13.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 198.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 179.26 Td (Operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.25 179.26 Td (168,902) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 353.25 179.26 Td (192,426) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 414.25 179.26 Td (161,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 179.26 Td (\(12.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 179.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.25 179.26 Td (4.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 160.26 Td (Pre-tax operating income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 160.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 296.75 160.26 Td (22,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 160.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 160.26 Td (31,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 160.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 160.26 Td (8,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 160.26 Td (\(28.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 160.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 160.26 Td (185.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 160.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 141.26 Td (Pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 123.31 141.26 Td (gin) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 291.85 141.26 Td (12.0%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 352.85 141.26 Td (14.2%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.10 141.26 Td (4.8%) Tj ET Q BT /F1 10.00 Tf ET BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 122.90 Td (N/M ) Tj ET Q q 0 0 0 rg BT 52.22 122.90 Td ( ) Tj ET Q q 0 0 0 rg BT 61.34 122.90 Td (Not ) Tj ET Q q 0 0 0 rg BT 74.89 122.90 Td (meaningful) Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I11 Do Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (12) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 729.90 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 729.90 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 712.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 48.44 712.50 Td (eliminary Selected Summary Financial Information \(Non-GAAP) Tj ET Q q 0 0 0 rg BT 378.75 712.50 Td ( Unaudited\) \(1\)) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 666.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 642.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 618.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 594.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 575.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 556.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 556.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 556.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 556.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 556.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 556.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 556.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 556.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 556.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 556.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 537.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 537.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 537.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 537.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 537.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 537.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 537.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 537.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 537.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 537.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 513.00 239.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 513.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 513.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 513.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 513.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 513.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 513.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 513.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 513.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 513.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 485.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 485.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 485.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 485.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 485.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 485.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 485.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 485.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 485.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 485.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 452.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 452.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 452.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 452.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 452.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 452.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 452.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 452.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 452.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 452.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 433.00 239.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 433.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 433.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 433.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 433.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 433.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 433.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 433.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 433.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 433.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 400.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 400.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 400.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 400.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 400.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 400.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 400.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 400.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 400.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 400.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 381.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 381.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 381.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 381.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 381.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 381.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 381.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 381.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 381.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 381.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 362.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 362.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 362.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 362.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 362.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 362.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 362.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 362.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 362.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 362.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 343.00 239.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 343.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 343.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 343.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 343.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 343.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 343.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 343.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 343.00 4.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 343.00 57.00 -21.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 315.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 315.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 315.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 315.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 315.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 315.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 315.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 315.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 315.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 315.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 296.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 296.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 296.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 296.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 296.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 296.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 296.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 296.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 296.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 296.00 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 690 m 332.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 690 m 336.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 690 m 393.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 690 m 397.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 690 m 454.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 690 m 515.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 690 m 519.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 690 m 332.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 690 m 393.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 690 m 454.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 666 m 332.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 666 m 393.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 666 m 454.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 666 m 515.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 666 m 576.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 594 m 332.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 594 m 393.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 594 m 454.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 594 m 515.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 594 m 576.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 563 m 332.5 563 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 563 m 393.5 563 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 563 m 454.5 563 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 563 m 515.5 563 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 563 m 576.5 563 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 545 m 332.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 543 m 332.5 543 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 545 m 393.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 543 m 393.5 543 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 545 m 454.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 543 m 454.5 543 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 545 m 515.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 543 m 515.5 543 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 545 m 576.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 543 m 576.5 543 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 514 m 332.5 514 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 512 m 332.5 512 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 514 m 393.5 514 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 512 m 393.5 512 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 514 m 454.5 514 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 512 m 454.5 512 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 514 m 515.5 514 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 512 m 515.5 512 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 514 m 576.5 514 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 512 m 576.5 512 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 474 m 332.5 474 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 472 m 332.5 472 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 474 m 393.5 474 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 472 m 393.5 472 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 474 m 454.5 474 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 472 m 454.5 472 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 474 m 515.5 474 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 472 m 515.5 472 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 474 m 576.5 474 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 472 m 576.5 472 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 413 m 332.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 411 m 332.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 413 m 393.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 411 m 393.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 413 m 454.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 411 m 454.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 413 m 515.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 411 m 515.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 413 m 576.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 411 m 576.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 411 m 454.5 411 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 413 m 454.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 381 m 332.5 381 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 381 m 393.5 381 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 381 m 454.5 381 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 381 m 515.5 381 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 381 m 576.5 381 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 363 m 332.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 361 m 332.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 363 m 393.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 361 m 393.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 363 m 454.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 361 m 454.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 363 m 515.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 361 m 515.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 363 m 576.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 361 m 576.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 361 m 332.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 363 m 332.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 361 m 393.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 363 m 393.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 361 m 454.5 361 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 363 m 454.5 363 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 323 m 332.5 323 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 321 m 332.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 323 m 393.5 323 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 321 m 393.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 323 m 454.5 323 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 321 m 454.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 323 m 515.5 323 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 321 m 515.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 323 m 576.5 323 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 321 m 576.5 321 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 304 m 332.5 304 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 302 m 332.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 304 m 393.5 304 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 302 m 393.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 304 m 454.5 304 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 302 m 454.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 304 m 515.5 304 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 302 m 515.5 302 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 304 m 576.5 304 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 302 m 576.5 302 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 39.00 693.26 Td () Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 323.55 693.40 Td (Thr) Tj ET Q q 0 0 0 rg BT 338.47 693.40 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 483.45 693.40 Td (Per) Tj ET Q q 0 0 0 rg BT 496.86 693.40 Td (cent Inc/\(Dec\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 287.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 304.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 349.35 681.40 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 473.85 681.40 Td (1Q '19) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 534.85 681.40 Td (1Q '19) Tj ET Q BT /F8 7.00 Tf ET q 0 0 0 rg BT 39.00 670.04 Td (\(Amounts in thousands, except per shar) Tj ET Q q 0 0 0 rg BT 149.56 670.04 Td (e data\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 294.50 669.40 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 355.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 467.60 669.40 Td (vs. 4Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 528.60 669.40 Td (vs. 1Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 657.40 Td (Revenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 645.26 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 645.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 645.26 Td (141,061) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 645.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 645.26 Td (177,775) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 645.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 645.26 Td (120,841) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 645.26 Td (\(20.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 645.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 645.26 Td (16.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 645.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 633.26 Td (Institutional brokerage) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 633.26 Td (34,954) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 633.26 Td (32,102) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 633.26 Td (27,645) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 633.26 Td (8.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 633.26 Td (26.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 621.26 Td (Asset management) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 621.26 Td (10,418) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 621.26 Td (1) Tj ET Q q 0 0 0 rg BT 365.25 621.26 Td (1,097) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 621.26 Td (12,589) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 621.26 Td (\(6.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 621.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 621.26 Td (\(17.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 621.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 609.26 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 609.26 Td (7,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 609.26 Td (7,566) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 609.26 Td (10,413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 609.26 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 609.26 Td (\(27.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 609.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 597.26 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 315.50 597.26 Td (62) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 597.26 Td (\(3,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.50 597.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 597.26 Td (1,993) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 597.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 597.26 Td (\(96.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 597.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 585.26 Td (T) Tj ET Q q 0 0 0 rg BT 56.18 585.26 Td (otal revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 585.26 Td (194,062) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 585.26 Td (225,516) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 585.26 Td (173,481) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 585.26 Td (\(13.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 585.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 585.26 Td (1) Tj ET Q q 0 0 0 rg BT 557.25 585.26 Td (1.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 566.26 Td (Interest expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 566.26 Td (2,643) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 566.26 Td (2,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 566.26 Td (5,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 566.26 Td (9.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 566.26 Td (\(50.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 566.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 547.26 Td (Adjusted net revenues \(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 547.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 547.26 Td (191,419) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 547.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 547.26 Td (223,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 547.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 547.26 Td (168,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 547.26 Td (\(14.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 547.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 547.26 Td (13.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 547.26 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 528.40 Td (Non-inter) Tj ET Q q 0 0 0 rg BT 76.41 528.40 Td (est expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 516.26 Td (Adjusted compensation and benefits \(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 516.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 516.26 Td (120,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 516.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 516.26 Td (137,161) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 516.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 516.26 Td (104,966) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 516.26 Td (\(12.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 516.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 516.26 Td (14.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 516.26 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 45.00 504.25 Td (Ratio of adjusted compensation and benefits to) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 49.50 495.25 Td (adjusted net r) Tj ET Q q 0 0 0 rg BT 98.83 495.25 Td (evenues) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 296.75 496.45 Td (62.9) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 312.50 496.45 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 357.75 496.45 Td (61.5) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 373.50 496.45 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 418.75 496.45 Td (62.4) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 434.50 496.45 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 476.26 Td (Adjusted non-compensation expenses \(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 476.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 476.26 Td (43,01) Tj ET Q q 0 0 0 rg BT 320.00 476.26 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 476.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 476.26 Td (45,489) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 476.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 476.26 Td (42,167) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 476.26 Td (\(5.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 476.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.25 476.26 Td (2.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 476.26 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 45.00 464.25 Td (Ratio of adjusted non-compensation expenses to) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 49.50 455.25 Td (adjusted net r) Tj ET Q q 0 0 0 rg BT 98.66 455.25 Td (evenues) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 296.75 456.45 Td (22.5) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 312.50 456.45 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 357.75 456.45 Td (20.4) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 373.50 456.45 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 418.75 456.45 Td (25.1) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 434.50 456.45 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 436.40 Td (Adjusted income:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 424.26 Td (Adjusted income before adjusted income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 415.26 Td (tax expense/\(benefit\) \(5\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 416.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 416.46 Td (28,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 416.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 416.46 Td (40,457) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 416.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 416.46 Td (21,010) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 416.46 Td (\(30.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 416.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 416.46 Td (33.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 416.46 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 45.00 403.25 Td (Adjusted operating mar) Tj ET Q q 0 0 0 rg BT 130.33 403.25 Td (gin \(6\)) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 296.75 403.25 Td (14.7) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 312.50 403.25 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 357.75 403.25 Td (18.1) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 373.50 403.25 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 418.75 403.25 Td (12.5) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 434.50 403.25 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 384.40 Td (Adjusted income tax expense/\(benefit\) \(7\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 384.26 Td (5,009) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 384.26 Td (10,523) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 384.26 Td (\(312) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 384.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 384.26 Td (\(52.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 384.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 384.26 Td (N/M) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 365.40 Td (Adjusted net income \(8\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 365.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 365.26 Td (23,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 365.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 365.26 Td (29,934) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 365.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 365.26 Td (21,322) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 365.26 Td (\(22.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 365.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.25 365.26 Td (8.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 365.26 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 45.00 353.25 Td (Effective tax rate \(9\)) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 296.75 353.25 Td (17.8) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 312.50 353.25 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 357.75 353.25 Td (26.0) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 373.50 353.25 Td (%) Tj ET Q BT /F8 9.00 Tf ET q 0 0 0 rg BT 422.95 353.25 Td (N/M) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 334.40 Td (Adjusted net income applicable to Piper) Tj ET Q q 0 0 0 rg BT 192.66 334.40 Td ( Jaffray Companies) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 43.50 325.40 Td (common shar) Tj ET Q q 0 0 0 rg BT 95.67 325.40 Td (eholders \(10\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 326.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 326.46 Td (21,279) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 326.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 326.46 Td (26,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 326.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 326.46 Td (18,442) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 326.46 Td (\(20.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 326.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 326.46 Td (15.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 326.46 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 306.40 Td (Adjusted earnings per) Tj ET Q q 0 0 0 rg BT 124.42 306.40 Td ( diluted common shar) Tj ET Q q 0 0 0 rg BT 208.02 306.40 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 306.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.75 306.26 Td (1.57) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 306.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.75 306.26 Td (1.99) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 306.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 306.26 Td (1.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 306.26 Td (\(21.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 306.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 306.26 Td (13.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 306.26 Td (%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 287.40 Td (W) Tj ET Q q 0 0 0 rg BT 47.50 287.40 Td (eighted average number) Tj ET Q q 0 0 0 rg BT 140.32 287.40 Td ( of common shar) Tj ET Q q 0 0 0 rg BT 204.41 287.40 Td (es outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 275.26 Td (Diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 275.26 Td (13,530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 275.26 Td (13,367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 275.26 Td (13,382) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 275.26 Td (1.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 275.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 557.25 275.26 Td (1.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 275.26 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 256.90 Td (N/M ) Tj ET Q q 0 0 0 rg BT 52.22 256.90 Td ( ) Tj ET Q q 0 0 0 rg BT 61.34 256.90 Td (Not ) Tj ET Q q 0 0 0 rg BT 74.89 256.90 Td (meaningful) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 241.30 Td (This ) Tj ET Q q 0 0 0 rg BT 51.65 241.30 Td (pr) Tj ET Q q 0 0 0 rg BT 58.46 241.30 Td (esentation ) Tj ET Q q 0 0 0 rg BT 93.21 241.30 Td (includes ) Tj ET Q q 0 0 0 rg BT 121.73 241.30 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 156.69 241.30 Td ( ) Tj ET Q q 0 0 0 rg BT 158.55 241.30 Td (measur) Tj ET Q q 0 0 0 rg BT 181.81 241.30 Td (es. ) Tj ET Q q 0 0 0 rg BT 192.34 241.30 Td (The ) Tj ET Q q 0 0 0 rg BT 206.20 241.30 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 241.16 241.30 Td ( ) Tj ET Q q 0 0 0 rg BT 243.02 241.30 Td (measur) Tj ET Q q 0 0 0 rg BT 266.28 241.30 Td (es ) Tj ET Q q 0 0 0 rg BT 274.81 241.30 Td (ar) Tj ET Q q 0 0 0 rg BT 281.63 241.30 Td (e ) Tj ET Q q 0 0 0 rg BT 287.04 241.30 Td (not ) Tj ET Q q 0 0 0 rg BT 299.13 241.30 Td (meant ) Tj ET Q q 0 0 0 rg BT 320.54 241.30 Td (to ) Tj ET Q q 0 0 0 rg BT 328.63 241.30 Td (be ) Tj ET Q q 0 0 0 rg BT 338.04 241.30 Td (consider) Tj ET Q q 0 0 0 rg BT 365.29 241.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 374.71 241.30 Td (in ) Tj ET Q q 0 0 0 rg BT 382.79 241.30 Td (isolation ) Tj ET Q q 0 0 0 rg BT 412.66 241.30 Td (or ) Tj ET Q q 0 0 0 rg BT 421.64 241.30 Td (as ) Tj ET Q q 0 0 0 rg BT 430.61 241.30 Td (a ) Tj ET Q q 0 0 0 rg BT 436.48 241.30 Td (substitute ) Tj ET Q q 0 0 0 rg BT 469.01 241.30 Td (for ) Tj ET Q q 0 0 0 rg BT 480.21 241.30 Td (the ) Tj ET Q q 0 0 0 rg BT 491.84 241.30 Td (corr) Tj ET Q q 0 0 0 rg BT 505.32 241.30 Td (esponding ) Tj ET Q q 0 0 0 rg BT 540.07 241.30 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 555.71 241.30 Td (GAAP) Tj ET Q q 0 0 0 rg BT 576.01 241.30 Td ( ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 231.70 Td (measur) Tj ET Q q 0 0 0 rg BT 59.26 231.70 Td (es, ) Tj ET Q q 0 0 0 rg BT 70.03 231.70 Td (and ) Tj ET Q q 0 0 0 rg BT 84.14 231.70 Td (should ) Tj ET Q q 0 0 0 rg BT 107.58 231.70 Td (be ) Tj ET Q q 0 0 0 rg BT 117.24 231.70 Td (r) Tj ET Q q 0 0 0 rg BT 120.06 231.70 Td (ead ) Tj ET Q q 0 0 0 rg BT 133.72 231.70 Td (only ) Tj ET Q q 0 0 0 rg BT 149.60 231.70 Td (in ) Tj ET Q q 0 0 0 rg BT 157.93 231.70 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 197.81 231.70 Td (with ) Tj ET Q q 0 0 0 rg BT 213.70 231.70 Td (our ) Tj ET Q q 0 0 0 rg BT 226.92 231.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 269.91 231.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 300.46 231.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 336.34 231.70 Td (pr) Tj ET Q q 0 0 0 rg BT 343.16 231.70 Td (epar) Tj ET Q q 0 0 0 rg BT 357.53 231.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 367.19 231.70 Td (in ) Tj ET Q q 0 0 0 rg BT 375.52 231.70 Td (accor) Tj ET Q q 0 0 0 rg BT 393.43 231.70 Td (dance ) Tj ET Q q 0 0 0 rg BT 414.64 231.70 Td (with ) Tj ET Q q 0 0 0 rg BT 430.53 231.70 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 446.42 231.70 Td (GAAP) Tj ET Q q 0 0 0 rg BT 465.83 231.70 Td (. ) Tj ET Q q 0 0 0 rg BT 469.93 231.70 Td (For ) Tj ET Q q 0 0 0 rg BT 484.04 231.70 Td (a ) Tj ET Q q 0 0 0 rg BT 490.15 231.70 Td (detailed ) Tj ET Q q 0 0 0 rg BT 518.03 231.70 Td (explanation ) Tj ET Q q 0 0 0 rg BT 557.91 231.70 Td (of ) Tj ET Q q 0 0 0 rg BT 566.24 231.70 Td (the ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 222.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 76.22 222.10 Td (made ) Tj ET Q q 0 0 0 rg BT 95.55 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.77 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.55 222.10 Td (corr) Tj ET Q q 0 0 0 rg BT 129.03 222.10 Td (esponding ) Tj ET Q q 0 0 0 rg BT 163.91 222.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 179.69 222.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 199.98 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.98 222.10 Td (measur) Tj ET Q q 0 0 0 rg BT 225.24 222.10 Td (es, ) Tj ET Q q 0 0 0 rg BT 235.91 222.10 Td (see ) Tj ET Q q 0 0 0 rg BT 248.12 222.10 Td ("Reconciliation ) Tj ET Q q 0 0 0 rg BT 300.13 222.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.36 222.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 324.13 222.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 344.43 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.43 222.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.65 222.10 Td (Selected ) Tj ET Q q 0 0 0 rg BT 383.30 222.10 Td (Summary ) Tj ET Q q 0 0 0 rg BT 415.52 222.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 448.62 222.10 Td (Information.") Tj ET Q /GS0 gs q 105.00 0 0 22.00 36.00 757.50 cm /I12 Do Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (13) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 729.90 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 729.90 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 712.50 Td (Pr) Tj ET Q q 0 0 0 rg BT 48.44 712.50 Td (eliminary ) Tj ET Q q 0 0 0 rg BT 100.10 712.50 Td (Adjusted Segment Data \(Non-GAAP) Tj ET Q q 0 0 0 rg BT 287.10 712.50 Td ( Unaudited\)) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 666.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 666.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 666.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 642.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 642.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 642.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 618.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 618.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 618.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 594.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 594.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 594.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 575.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 575.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 575.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 551.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 551.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 551.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 551.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 551.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 551.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 551.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 551.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 551.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 551.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 527.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 527.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 527.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 527.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 527.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 527.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 527.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 527.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 527.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 527.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 508.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 508.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 508.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 508.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 508.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 508.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 508.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 508.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 508.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 508.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 489.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 489.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 489.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 489.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 489.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 489.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 489.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 489.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 489.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 489.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 470.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 470.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 470.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 470.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 470.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 470.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 470.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 470.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 470.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 470.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 451.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 451.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 451.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 451.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 451.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 451.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 451.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 451.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 451.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 451.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 432.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 432.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 432.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 432.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 432.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 432.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 432.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 432.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 432.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 432.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 413.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 413.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 413.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 413.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 413.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 413.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 413.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 413.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 413.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 413.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 394.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 394.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 394.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 394.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 394.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 394.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 394.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 394.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 394.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 394.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 375.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 375.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 375.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 375.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 375.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 375.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 375.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 375.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 375.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 375.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 351.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 351.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 351.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 351.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 351.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 351.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 351.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 351.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 351.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 351.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 327.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 327.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 327.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 327.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 327.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 327.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 327.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 327.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 327.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 327.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 308.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 308.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 308.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 308.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 308.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 308.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 308.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 308.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 308.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 308.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 289.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 289.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 289.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 289.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 289.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 289.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 289.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 289.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 289.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 289.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 270.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 270.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 270.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 270.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 270.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 270.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 270.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 270.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 270.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 270.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 251.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 251.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 251.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 251.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 251.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 251.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 251.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 251.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 251.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 251.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 232.00 239.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 232.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 232.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 232.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 232.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 232.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 232.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 232.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 232.00 4.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 232.00 57.00 -7.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 213.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 213.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 213.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 213.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 213.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 213.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 213.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 213.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 213.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 213.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 194.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 194.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 194.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 194.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 194.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 194.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 194.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 194.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 194.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 194.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 175.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 175.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 175.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 175.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 175.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 175.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 175.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 175.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 175.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 175.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 156.00 239.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 275.50 156.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 332.50 156.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 336.50 156.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 393.50 156.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 156.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 156.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 156.00 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 156.00 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 156.00 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 690 m 332.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 690 m 336.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 690 m 393.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 690 m 397.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 690 m 454.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 690 m 515.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 690 m 519.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 690 m 332.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 690 m 336.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 690 m 393.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 690 m 397.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 690 m 454.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 690 m 515.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 690 m 519.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 690 m 576.5 690 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 666 m 332.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 666 m 393.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 666 m 454.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 666 m 515.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 666 m 576.5 666 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 594 m 332.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 594 m 393.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 594 m 454.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 594 m 515.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 594 m 576.5 594 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 539 m 332.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 539 m 393.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 539 m 454.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 539 m 515.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 539 m 576.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 539 m 515.5 539 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 470 m 332.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 470 m 393.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 470 m 454.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 470 m 515.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 470 m 576.5 470 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 432 m 332.5 432 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 432 m 393.5 432 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 432 m 454.5 432 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 432 m 515.5 432 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 432 m 576.5 432 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 413 m 332.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 413 m 393.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 413 m 454.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 413 m 515.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 413 m 576.5 413 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 339 m 332.5 339 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 339 m 393.5 339 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 339 m 454.5 339 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 339 m 515.5 339 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 339 m 576.5 339 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 308 m 332.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 308 m 393.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 308 m 454.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 308 m 515.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 308 m 576.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 270 m 332.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 270 m 393.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 270 m 454.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 270 m 515.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 270 m 576.5 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 251 m 332.5 251 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 251 m 393.5 251 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 251 m 454.5 251 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 251 m 515.5 251 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 251 m 576.5 251 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 182 m 332.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 182 m 393.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 182 m 454.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 182 m 515.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 182 m 576.5 182 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 164 m 332.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 162 m 332.5 162 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 164 m 393.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 162 m 393.5 162 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 164 m 454.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 162 m 454.5 162 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 164 m 515.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 162 m 515.5 162 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 164 m 576.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 162 m 576.5 162 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 39.00 693.95 Td () Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 323.55 693.40 Td (Thr) Tj ET Q q 0 0 0 rg BT 338.47 693.40 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 483.45 693.40 Td (Per) Tj ET Q q 0 0 0 rg BT 496.86 693.40 Td (cent Inc/\(Dec\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 287.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 304.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 349.35 681.40 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 681.40 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 681.40 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 473.85 681.40 Td (1Q '19) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 534.85 681.40 Td (1Q '19) Tj ET Q BT /F8 7.00 Tf ET q 0 0 0 rg BT 39.00 670.04 Td (\(Dollars in thousands\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 294.50 669.40 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 355.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 669.40 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 467.60 669.40 Td (vs. 4Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 528.60 669.40 Td (vs. 1Q '18) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 657.40 Td (Capital Markets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 645.26 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 633.26 Td (Advisory services) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 633.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 633.26 Td (1) Tj ET Q q 0 0 0 rg BT 299.75 633.26 Td (14,879) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 633.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 633.26 Td (128,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 633.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 633.26 Td (75,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 633.26 Td (\(10.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 633.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 633.26 Td (52.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 633.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 621.26 Td (Financing) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.00 609.26 Td (Equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 609.26 Td (13,527) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 609.26 Td (22,304) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 609.26 Td (37,642) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 609.26 Td (\(39.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 609.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 609.26 Td (\(64.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 609.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.00 597.26 Td (Debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 597.26 Td (13,082) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 597.26 Td (27,789) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 597.26 Td (7,686) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 597.26 Td (\(52.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 597.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 597.26 Td (70.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 585.26 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 585.26 Td (otal investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 585.26 Td (141,488) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 585.26 Td (178,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 585.26 Td (120,657) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 585.26 Td (\(20.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 585.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 585.26 Td (17.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 566.26 Td (Institutional sales and trading) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 554.26 Td (Equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 554.26 Td (15,714) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 554.26 Td (22,526) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 554.26 Td (18,006) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 554.26 Td (\(30.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 554.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 554.26 Td (\(12.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 554.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 542.26 Td (Fixed income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 542.26 Td (23,669) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 542.26 Td (14,631) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 542.26 Td (16,334) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 542.26 Td (61.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 542.26 Td (44.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 530.26 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 530.26 Td (otal institutional sales and trading) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 530.26 Td (39,383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 530.26 Td (37,157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 530.26 Td (34,340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 530.26 Td (6.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 530.26 Td (14.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 511.26 Td (Management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 511.26 Td (1,129) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 511.26 Td (1,494) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 511.26 Td (1,388) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 511.26 Td (\(24.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 511.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 511.26 Td (\(18.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 511.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 492.26 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 492.26 Td (216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 492.26 Td (\(2,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.50 492.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 492.26 Td (2,379) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 492.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 492.26 Td (\(90.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 492.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 473.26 Td (Long-term financing expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.00 473.26 Td (\(238) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 324.50 473.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 473.26 Td (\(442) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.50 473.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 473.26 Td (\(1,787) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 473.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 473.26 Td (\(46.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 473.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 473.26 Td (\(86.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 473.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 454.26 Td (Adjusted net revenues \(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 454.26 Td (181,978) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 454.26 Td (213,771) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 454.26 Td (156,977) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 454.26 Td (\(14.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 454.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 454.26 Td (15.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 435.26 Td (Adjusted operating expenses \(12\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 435.26 Td (154,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 435.26 Td (173,284) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 435.26 Td (136,370) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 435.26 Td (\(1) Tj ET Q q 0 0 0 rg BT 493.25 435.26 Td (1.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 435.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 435.26 Td (13.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 416.26 Td (Adjusted segment pre-tax operating income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 416.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 416.26 Td (27,728) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 416.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 416.26 Td (40,487) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 416.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 416.26 Td (20,607) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 416.26 Td (\(31.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 416.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 416.26 Td (34.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 416.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 397.26 Td (Adjusted segment pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 189.87 397.26 Td (gin \(6\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 297.85 397.26 Td (15.2%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.85 397.26 Td (18.9%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.85 397.26 Td (13.1%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 378.40 Td (Asset Management) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 366.26 Td (Management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 354.26 Td (Management fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 354.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 354.26 Td (9,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 354.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 354.26 Td (9,587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 354.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 354.26 Td (1) Tj ET Q q 0 0 0 rg BT 426.25 354.26 Td (1,193) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 354.26 Td (\(3.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 354.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 354.26 Td (\(17.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 354.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 342.26 Td (Performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.00 342.26 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.50 342.26 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.00 342.26 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 342.26 Td (\(93.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 342.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 342.26 Td (\(87.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 342.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 330.26 Td (T) Tj ET Q q 0 0 0 rg BT 49.87 330.26 Td (otal management and performance fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 330.26 Td (9,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 330.26 Td (9,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 330.26 Td (1) Tj ET Q q 0 0 0 rg BT 426.25 330.26 Td (1,201) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 330.26 Td (\(3.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 330.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 330.26 Td (\(17.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 330.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 311.26 Td (Investment income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 311.26 Td (152) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.00 311.26 Td (\(267) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.50 311.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.50 311.26 Td (\(35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 311.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 311.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.95 311.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 292.26 Td (Net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 292.26 Td (9,441) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 292.26 Td (9,336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 292.26 Td (1) Tj ET Q q 0 0 0 rg BT 426.25 292.26 Td (1,166) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.25 292.26 Td (1.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 292.26 Td (\(15.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 292.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 273.26 Td (Adjusted operating expenses \(13\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.25 273.26 Td (9,090) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.25 273.26 Td (9,366) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 273.26 Td (10,763) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.25 273.26 Td (\(2.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 273.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 273.26 Td (\(15.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 273.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 254.26 Td (Adjusted segment pre-tax operating income/\(loss\) \(13\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 254.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.00 254.26 Td (351) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 254.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 373.50 254.26 Td (\(30) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.50 254.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 254.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.00 254.26 Td (403) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.95 254.26 Td (N/M) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.75 254.26 Td (\(12.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 565.50 254.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 235.26 Td (Adjusted segment pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 189.87 235.26 Td (gin \(6\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.10 235.26 Td (3.7%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.10 235.26 Td (\(0.3\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.10 235.26 Td (3.6%) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 216.40 Td (T) Tj ET Q q 0 0 0 rg BT 44.18 216.40 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 204.26 Td (Adjusted net revenues \(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 204.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 204.26 Td (191,419) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 204.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 204.26 Td (223,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 204.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 204.26 Td (168,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 204.26 Td (\(14.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 204.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 204.26 Td (13.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 204.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 185.26 Td (Adjusted operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 295.25 185.26 Td (163,340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 356.25 185.26 Td (182,650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 185.26 Td (147,133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 185.26 Td (\(10.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 185.26 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 185.26 Td (1) Tj ET Q q 0 0 0 rg BT 554.25 185.26 Td (1.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 166.26 Td (Adjusted pre-tax operating income \(5\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.00 166.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.75 166.26 Td (28,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 166.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 360.75 166.26 Td (40,457) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 166.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 166.26 Td (21,010) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.75 166.26 Td (\(30.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 166.26 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 166.26 Td (33.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 166.26 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 147.26 Td (Adjusted pre-tax operating mar) Tj ET Q q 0 0 0 rg BT 157.55 147.26 Td (gin \(6\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 297.85 147.26 Td (14.7%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.85 147.26 Td (18.1%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.85 147.26 Td (12.5%) Tj ET Q BT /F1 10.00 Tf ET BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 128.90 Td (N/M ) Tj ET Q q 0 0 0 rg BT 52.22 128.90 Td ( ) Tj ET Q q 0 0 0 rg BT 61.34 128.90 Td (Not ) Tj ET Q q 0 0 0 rg BT 74.89 128.90 Td (meaningful) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 113.30 Td (This ) Tj ET Q q 0 0 0 rg BT 51.65 113.30 Td (pr) Tj ET Q q 0 0 0 rg BT 58.46 113.30 Td (esentation ) Tj ET Q q 0 0 0 rg BT 93.21 113.30 Td (includes ) Tj ET Q q 0 0 0 rg BT 121.73 113.30 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 156.69 113.30 Td ( ) Tj ET Q q 0 0 0 rg BT 158.55 113.30 Td (measur) Tj ET Q q 0 0 0 rg BT 181.81 113.30 Td (es. ) Tj ET Q q 0 0 0 rg BT 192.34 113.30 Td (The ) Tj ET Q q 0 0 0 rg BT 206.20 113.30 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 241.16 113.30 Td ( ) Tj ET Q q 0 0 0 rg BT 243.02 113.30 Td (measur) Tj ET Q q 0 0 0 rg BT 266.28 113.30 Td (es ) Tj ET Q q 0 0 0 rg BT 274.81 113.30 Td (ar) Tj ET Q q 0 0 0 rg BT 281.63 113.30 Td (e ) Tj ET Q q 0 0 0 rg BT 287.04 113.30 Td (not ) Tj ET Q q 0 0 0 rg BT 299.13 113.30 Td (meant ) Tj ET Q q 0 0 0 rg BT 320.54 113.30 Td (to ) Tj ET Q q 0 0 0 rg BT 328.63 113.30 Td (be ) Tj ET Q q 0 0 0 rg BT 338.04 113.30 Td (consider) Tj ET Q q 0 0 0 rg BT 365.29 113.30 Td (ed ) Tj ET Q q 0 0 0 rg BT 374.71 113.30 Td (in ) Tj ET Q q 0 0 0 rg BT 382.79 113.30 Td (isolation ) Tj ET Q q 0 0 0 rg BT 412.66 113.30 Td (or 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Tj ET Q q 0 0 0 rg BT 213.70 103.70 Td (our ) Tj ET Q q 0 0 0 rg BT 226.92 103.70 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 269.91 103.70 Td (financial ) Tj ET Q q 0 0 0 rg BT 300.46 103.70 Td (statements ) Tj ET Q q 0 0 0 rg BT 336.34 103.70 Td (pr) Tj ET Q q 0 0 0 rg BT 343.16 103.70 Td (epar) Tj ET Q q 0 0 0 rg BT 357.53 103.70 Td (ed ) Tj ET Q q 0 0 0 rg BT 367.19 103.70 Td (in ) Tj ET Q q 0 0 0 rg BT 375.52 103.70 Td (accor) Tj ET Q q 0 0 0 rg BT 393.43 103.70 Td (dance ) Tj ET Q q 0 0 0 rg BT 414.64 103.70 Td (with ) Tj ET Q q 0 0 0 rg BT 430.53 103.70 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 446.42 103.70 Td (GAAP) Tj ET Q q 0 0 0 rg BT 465.83 103.70 Td (. ) Tj ET Q q 0 0 0 rg BT 469.93 103.70 Td (For ) Tj ET Q q 0 0 0 rg BT 484.04 103.70 Td (a ) Tj ET Q q 0 0 0 rg BT 490.15 103.70 Td (detailed ) Tj ET Q q 0 0 0 rg BT 518.03 103.70 Td (explanation ) Tj ET Q q 0 0 0 rg BT 557.91 103.70 Td (of ) Tj ET Q q 0 0 0 rg BT 566.24 103.70 Td (the ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 94.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 76.22 94.10 Td (made ) Tj ET Q q 0 0 0 rg BT 95.55 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.77 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.55 94.10 Td (corr) Tj ET Q q 0 0 0 rg BT 129.03 94.10 Td (esponding ) Tj ET Q q 0 0 0 rg BT 163.91 94.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 179.69 94.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 199.98 94.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.98 94.10 Td (measur) Tj ET Q q 0 0 0 rg BT 225.24 94.10 Td (es, ) Tj ET Q q 0 0 0 rg BT 235.91 94.10 Td (see ) Tj ET Q q 0 0 0 rg BT 248.12 94.10 Td ("Reconciliation ) Tj ET Q q 0 0 0 rg BT 300.13 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.36 94.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 324.13 94.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 344.43 94.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.43 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.65 94.10 Td (Selected ) Tj ET Q q 0 0 0 rg BT 383.30 94.10 Td (Summary ) Tj ET Q q 0 0 0 rg BT 415.52 94.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 448.62 94.10 Td (Information.") 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454.50 461.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 461.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 461.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 461.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 437.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 437.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 437.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 437.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 437.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 437.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 415.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 415.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 415.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 415.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 415.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 415.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 391.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 391.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 391.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 391.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 391.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 391.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 367.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 367.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 367.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 367.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 367.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 367.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 343.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 343.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 343.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 343.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 343.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 343.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 319.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 319.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 319.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 319.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 319.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 319.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 297.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 297.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 297.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 297.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 297.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 297.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 273.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 273.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 273.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 273.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 273.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 273.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 249.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 249.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 249.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 249.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 249.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 249.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 225.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 225.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 225.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 225.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 225.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 225.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 201.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 201.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 201.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 201.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 201.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 201.50 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 689.5 m 454.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 689.5 m 458.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 689.5 m 515.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 689.5 m 519.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 689.5 m 576.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 689.5 m 454.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 689.5 m 458.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 689.5 m 515.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 689.5 m 519.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 689.5 m 576.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 665.5 m 454.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 665.5 m 515.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 665.5 m 576.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 601.5 m 515.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 601.5 m 576.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 601.5 m 454.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 590.5 m 454.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 588.5 m 454.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 601.5 m 515.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 590.5 m 515.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 588.5 m 515.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 601.5 m 576.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 590.5 m 576.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 588.5 m 576.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 531.5 m 454.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 531.5 m 515.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 531.5 m 576.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 531.5 m 454.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 520.5 m 454.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 518.5 m 454.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 531.5 m 515.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 520.5 m 515.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 518.5 m 515.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 531.5 m 576.5 531.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 520.5 m 576.5 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 518.5 m 576.5 518.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 437.5 m 454.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 437.5 m 515.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 437.5 m 576.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 437.5 m 454.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 426.5 m 454.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 424.5 m 454.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 437.5 m 515.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 426.5 m 515.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 424.5 m 515.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 437.5 m 576.5 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 426.5 m 576.5 426.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 424.5 m 576.5 424.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 319.5 m 454.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 319.5 m 515.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 319.5 m 576.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 319.5 m 454.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 308.5 m 454.5 308.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 306.5 m 454.5 306.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 319.5 m 515.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 308.5 m 515.5 308.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 306.5 m 515.5 306.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 319.5 m 576.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 308.5 m 576.5 308.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 306.5 m 576.5 306.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 201.5 m 454.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 201.5 m 515.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 201.5 m 576.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 201.5 m 454.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 190.5 m 454.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 188.5 m 454.5 188.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 201.5 m 515.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 190.5 m 515.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 188.5 m 515.5 188.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 201.5 m 576.5 201.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 190.5 m 576.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 188.5 m 576.5 188.5 l s BT /F7 9.00 Tf ET q 0 0 0 rg BT 445.55 692.90 Td (Thr) Tj ET Q q 0 0 0 rg BT 460.47 692.90 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 680.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 680.90 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 471.35 680.90 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 531.50 680.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 548.08 680.90 Td (. 31,) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 39.00 669.45 Td (\(Amounts in thousands, except per shar) Tj ET Q q 0 0 0 rg BT 165.36 669.45 Td (e data\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 668.90 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 477.50 668.90 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 538.50 668.90 Td (2018) Tj ET Q BT /F9 9.00 Tf ET q 0 0 0 rg BT 39.00 652.90 Td (Consolidated) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 640.90 Td (Net r) Tj ET Q q 0 0 0 rg BT 58.65 640.90 Td (evenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 628.76 Td (Net revenues U.S. GAAP) Tj ET Q q 0 0 0 rg BT 143.82 628.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 628.76 Td (191,832) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 628.76 Td (224,371) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 628.76 Td (169,062) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 616.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 604.76 Td (Revenue related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 215.54 604.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 604.76 Td (\(413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 604.76 Td (\(1,264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 604.76 Td (\(919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 592.76 Td (Adjusted net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 592.76 Td (191,419) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 592.76 Td (223,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 592.76 Td (168,143) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 570.90 Td (Compensation and benefits:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 558.76 Td (Compensation and benefits U.S. GAAP) Tj ET Q q 0 0 0 rg BT 194.57 558.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 558.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 558.76 Td (122,636) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 558.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 558.76 Td (142,952) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 558.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 558.76 Td (1) Tj ET Q q 0 0 0 rg BT 543.75 558.76 Td (15,170) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 546.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 534.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 534.76 Td (\(2,307) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 534.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 534.76 Td (\(5,791) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 534.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.75 534.76 Td (\(10,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 534.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 522.76 Td (Adjusted compensation and benefits) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 522.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.25 522.76 Td (120,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 522.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.25 522.76 Td (137,161) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 522.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 522.76 Td (104,966) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 500.90 Td (Non-compensation expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 488.76 Td (Non-compensation expenses U.S. GAAP) Tj ET Q q 0 0 0 rg BT 199.81 488.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 488.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 488.76 Td (46,266) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 488.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 488.76 Td (49,474) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 488.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 488.76 Td (45,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 476.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 464.76 Td (Non-compensation expenses related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 287.10 464.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 464.76 Td (\(1,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 464.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 464.76 Td (\(1,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 464.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 464.76 Td (\(903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 464.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 452.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.25 452.76 Td (\(2,1) Tj ET Q q 0 0 0 rg BT 437.50 452.76 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 452.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 452.76 Td (\(2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 452.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 452.76 Td (\(2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 452.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 440.76 Td (Non-compensation expenses from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 440.76 Td (\(1) Tj ET Q q 0 0 0 rg BT 437.50 440.76 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 440.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 440.76 Td (\(171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 440.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 440.76 Td (\(169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 440.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 428.76 Td (Adjusted non-compensation expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 428.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 428.76 Td (43,01) Tj ET Q q 0 0 0 rg BT 442.00 428.76 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 428.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 428.76 Td (45,489) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 428.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 428.76 Td (42,167) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 406.90 Td (Income befor) Tj ET Q q 0 0 0 rg BT 90.15 406.90 Td (e income tax expense/\(benefit\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 394.76 Td (Income before income tax expense/\(benefit\) U.S. GAAP) Tj ET Q q 0 0 0 rg BT 255.35 394.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 394.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 394.76 Td (22,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 394.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 394.76 Td (31,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 394.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 394.76 Td (8,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 382.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 370.76 Td (Revenue related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 215.54 370.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.00 370.76 Td (\(413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.50 370.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 370.76 Td (\(1,264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 370.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 370.76 Td (\(919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 370.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 358.76 Td (Expenses related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 218.04 358.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 358.76 Td (1,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 358.76 Td (1,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 358.76 Td (903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 346.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 346.76 Td (2,307) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 346.76 Td (5,791) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 346.76 Td (10,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 334.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 334.76 Td (2,1) Tj ET Q q 0 0 0 rg BT 437.50 334.76 Td (12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 334.76 Td (2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 334.76 Td (2,615) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 322.76 Td (Non-compensation expenses from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.00 322.76 Td (1) Tj ET Q q 0 0 0 rg BT 437.50 322.76 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 322.76 Td (171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 322.76 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 310.76 Td (Adjusted income before adjusted income tax expense/\(benefit\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 310.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 310.76 Td (28,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 310.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 310.76 Td (40,457) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 310.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 310.76 Td (21,010) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 288.90 Td (Income tax expense/\(benefit\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 276.76 Td (Income tax expense/\(benefit\) U.S. GAAP) Tj ET Q q 0 0 0 rg BT 201.54 276.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 276.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 276.76 Td (4,124) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 276.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 276.76 Td (13,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 276.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 276.76 Td (\(2,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 276.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 264.76 Td (T) Tj ET Q q 0 0 0 rg BT 50.18 264.76 Td (ax ef) Tj ET Q q 0 0 0 rg BT 67.52 264.76 Td (fect of adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 252.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.00 252.76 Td (366) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 252.76 Td (1,436) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 252.76 Td (2,531) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 240.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.00 240.76 Td (519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 494.00 240.76 Td (648) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 240.76 Td (648) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 228.76 Td (Non-compensation expenses from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 228.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 228.76 Td (42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 228.76 Td (42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 216.76 Td (Impact of the ) Tj ET Q q 0 0 0 rg BT 101.15 216.76 Td (T) Tj ET Q q 0 0 0 rg BT 106.25 216.76 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 168.69 216.76 Td (Act legislation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 216.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 216.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 216.76 Td (\(952) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 216.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 204.76 Td (Impact of deferred tax asset valuation allowance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 204.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 204.76 Td (\(5,299) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 507.50 204.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 204.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 192.76 Td (Adjusted income tax expense/\(benefit\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 192.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 192.76 Td (5,009) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 192.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 192.76 Td (10,523) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 192.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 192.76 Td (\(312) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 568.50 192.76 Td (\)) Tj ET Q BT /F8 10.00 Tf ET q 0 0 0 rg BT 258.35 170.11 Td (Continued on next page) Tj ET Q /GS0 gs q 89.00 0 0 18.00 36.00 761.50 cm /I14 Do Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 735.10 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 735.10 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 717.70 Td (Reconciliation of U.S. GAAP) Tj ET Q q 0 0 0 rg BT 182.99 717.70 Td ( to Selected Summary Financial Information \(1\) \(Unaudited\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (15) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 688.5 m 454.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 688.5 m 458.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 688.5 m 515.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 688.5 m 519.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 688.5 m 576.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 688.5 m 454.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 688.5 m 458.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 688.5 m 515.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 688.5 m 519.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 688.5 m 576.5 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 664.5 m 454.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 664.5 m 515.5 664.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 664.5 m 576.5 664.5 l s BT /F7 9.00 Tf ET q 0 0 0 rg BT 445.55 691.90 Td (Thr) Tj ET Q q 0 0 0 rg BT 460.47 691.90 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 679.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 679.90 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 471.35 679.90 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 531.50 679.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 548.08 679.90 Td (. 31,) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 39.00 668.45 Td (\(Amounts in thousands, except per shar) Tj ET Q q 0 0 0 rg BT 165.36 668.45 Td (e data\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 667.90 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 477.50 667.90 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 538.50 667.90 Td (2018) Tj ET Q 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 648.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 648.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 648.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 648.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 648.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 648.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 624.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 624.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 624.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 624.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 624.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 624.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 600.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 600.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 600.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 600.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 600.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 600.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 576.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 576.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 576.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 576.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 576.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 576.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 552.50 361.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 552.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 552.50 4.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 552.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 552.50 4.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 552.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 530.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 530.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 530.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 530.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 530.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 530.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 506.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 506.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 506.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 506.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 506.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 506.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 482.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 482.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 482.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 482.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 482.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 482.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 458.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 458.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 458.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 458.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 458.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 458.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 434.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 434.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 434.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 434.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 434.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 434.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 410.50 361.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 410.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 410.50 4.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 410.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 410.50 4.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 410.50 57.00 -10.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 388.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 388.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 388.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 388.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 388.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 388.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 364.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 364.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 364.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 364.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 364.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 364.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 340.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 340.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 340.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 340.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 340.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 340.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 316.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 316.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 316.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 316.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 316.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 316.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 292.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 292.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 292.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 292.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 292.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 292.50 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 564.5 m 454.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 564.5 m 515.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 564.5 m 576.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 564.5 m 454.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 553.5 m 454.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 551.5 m 454.5 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 564.5 m 515.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 553.5 m 515.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 551.5 m 515.5 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 564.5 m 576.5 564.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 553.5 m 576.5 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 551.5 m 576.5 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 506.5 m 454.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 506.5 m 515.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 506.5 m 576.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 506.5 m 454.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 506.5 m 515.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 506.5 m 576.5 506.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 422.5 m 454.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 422.5 m 515.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 422.5 m 576.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 422.5 m 454.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 411.5 m 454.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 409.5 m 454.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 422.5 m 515.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 411.5 m 515.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 409.5 m 515.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 422.5 m 576.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 411.5 m 576.5 411.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 409.5 m 576.5 409.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 364.5 m 454.5 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 364.5 m 515.5 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 364.5 m 576.5 364.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 280.5 m 454.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 280.5 m 515.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 280.5 m 576.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 280.5 m 454.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 269.5 m 454.5 269.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 267.5 m 454.5 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 280.5 m 515.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 269.5 m 515.5 269.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 267.5 m 515.5 267.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 280.5 m 576.5 280.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 269.5 m 576.5 269.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 267.5 m 576.5 267.5 l s BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 651.90 Td (Net income applicable to Piper) Tj ET Q q 0 0 0 rg BT 156.90 651.90 Td ( Jaffray Companies:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 639.76 Td (Net income applicable to Piper Jaf) Tj ET Q q 0 0 0 rg BT 169.13 639.76 Td (fray Companies U.S. GAAP) Tj ET Q q 0 0 0 rg BT 277.87 639.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 639.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 639.76 Td (19,422) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 639.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 639.76 Td (18,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 639.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 639.76 Td (10,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 627.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 615.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 615.76 Td (1,941) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 615.76 Td (4,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 615.76 Td (7,673) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 603.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 603.76 Td (1,593) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 603.76 Td (1,967) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 603.76 Td (1,967) Tj ET Q BT /F1 9.00 Tf ET q 0 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0 rg BT 559.50 567.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 555.76 Td (Adjusted net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 555.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 555.76 Td (23,070) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 555.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 555.76 Td (29,934) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 555.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 555.76 Td (21,322) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 533.90 Td (Net income applicable to Piper) Tj ET Q q 0 0 0 rg BT 156.90 533.90 Td ( Jaffray Companies' common shar) Tj ET Q q 0 0 0 rg BT 289.23 533.90 Td (eholders:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 521.76 Td (Net income applicable to Piper Jaf) Tj ET Q q 0 0 0 rg BT 169.13 521.76 Td (fray Companies' common stockholders U.S. GAAP) Tj ET Q q 0 0 0 rg BT 360.98 521.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 521.76 Td ($) Tj ET Q BT 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rg BT 101.07 437.76 Td (T) Tj ET Q q 0 0 0 rg BT 105.94 437.76 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 168.44 437.76 Td (Act legislation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 437.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 437.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 437.76 Td (823) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 425.76 Td (Impact of deferred tax asset valuation allowance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 425.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 425.76 Td (4,720) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 425.76 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 413.76 Td (Adjusted net income applicable to Piper Jaf) Tj ET Q q 0 0 0 rg BT 201.79 413.76 Td (fray Companies' common stockholders) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 413.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 413.76 Td (21,279) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 413.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 413.76 Td (26,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 413.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 413.76 Td (18,442) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 391.90 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 89.09 391.90 Td ( diluted common shar) Tj ET Q q 0 0 0 rg BT 172.69 391.90 Td (e:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 379.76 Td (Earnings per diluted common share U.S. GAAP) Tj ET Q q 0 0 0 rg BT 224.56 379.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 379.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 379.76 Td (1.32) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 379.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 379.76 Td (1.21) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 379.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 379.76 Td (0.47) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 367.76 Td (Adjustment for undistributed loss allocated to participating 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0.9490196078431372 rg /GS0 gs 519.50 457.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 433.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 433.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 433.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 433.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 433.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 433.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 409.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 409.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 409.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 409.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 409.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 409.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 385.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 385.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 385.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 385.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 385.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 385.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 361.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 361.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 361.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 361.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 361.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 361.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 337.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 337.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 337.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 337.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 337.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 337.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 313.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 313.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 313.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 313.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 313.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 313.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 289.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 289.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 289.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 289.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 289.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 289.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 265.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 265.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 265.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 265.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 265.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 265.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 241.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 241.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 241.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 241.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 241.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 241.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 36.50 217.50 361.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 397.50 217.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 454.50 217.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 458.50 217.50 57.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 515.50 217.50 4.00 -12.00 re f /GS0 gs 0.9490196078431372 0.9490196078431372 0.9490196078431372 rg /GS0 gs 519.50 217.50 57.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 689.5 m 454.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 689.5 m 458.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 689.5 m 515.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 689.5 m 519.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 689.5 m 576.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 689.5 m 454.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454.5 689.5 m 458.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 689.5 m 515.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515.5 689.5 m 519.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 689.5 m 576.5 689.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 665.5 m 454.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 665.5 m 515.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 665.5 m 576.5 665.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 601.5 m 454.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 590.5 m 454.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 588.5 m 454.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 601.5 m 515.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 590.5 m 515.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 588.5 m 515.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 601.5 m 576.5 601.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 590.5 m 576.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 588.5 m 576.5 588.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 493.5 m 454.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 482.5 m 454.5 482.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 480.5 m 454.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 493.5 m 515.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 482.5 m 515.5 482.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 480.5 m 515.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 493.5 m 576.5 493.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 482.5 m 576.5 482.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 480.5 m 576.5 480.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 373.5 m 454.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 362.5 m 454.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 360.5 m 454.5 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 373.5 m 515.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 362.5 m 515.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 360.5 m 515.5 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 373.5 m 576.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 362.5 m 576.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 360.5 m 576.5 360.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 289.5 m 454.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 289.5 m 515.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 289.5 m 454.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 278.5 m 454.5 278.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 276.5 m 454.5 276.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 289.5 m 515.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 278.5 m 515.5 278.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 276.5 m 515.5 276.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 289.5 m 576.5 289.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 278.5 m 576.5 278.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 276.5 m 576.5 276.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 217.5 m 515.5 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 217.5 m 576.5 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 217.5 m 454.5 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 206.5 m 454.5 206.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 204.5 m 454.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 217.5 m 515.5 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 206.5 m 515.5 206.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 204.5 m 515.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 217.5 m 576.5 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 206.5 m 576.5 206.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 204.5 m 576.5 204.5 l s BT /F7 9.00 Tf ET q 0 0 0 rg BT 445.55 692.90 Td (Thr) Tj ET Q q 0 0 0 rg BT 460.47 692.90 Td (ee Months Ended) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 409.50 680.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 426.08 680.90 Td (. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 471.35 680.90 Td (Dec. 31,) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 531.50 680.90 Td (Mar) Tj ET Q q 0 0 0 rg BT 548.08 680.90 Td (. 31,) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 39.00 669.45 Td (\(Amounts in thousands, except per shar) Tj ET Q q 0 0 0 rg BT 165.36 669.45 Td (e data\)) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 416.50 668.90 Td (2019) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 477.50 668.90 Td (2018) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 538.50 668.90 Td (2018) Tj ET Q BT /F9 9.00 Tf ET q 0 0 0 rg BT 39.00 652.90 Td (Capital Markets) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 640.90 Td (Net r) Tj ET Q q 0 0 0 rg BT 58.65 640.90 Td (evenues:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 628.76 Td (Net revenues U.S. GAAP) Tj ET Q q 0 0 0 rg BT 143.82 628.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 628.76 Td (182,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 628.76 Td (215,035) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 628.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 628.76 Td (157,896) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 616.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 604.76 Td (Revenue related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 215.54 604.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.50 604.76 Td (\(413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 604.76 Td (\(1,264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 604.76 Td (\(919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 604.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 592.76 Td (Adjusted net revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 592.76 Td (181,978) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 592.76 Td (213,771) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 592.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 592.76 Td (156,977) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 568.90 Td (Operating expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 556.76 Td (Operating expenses U.S. GAAP) Tj ET Q q 0 0 0 rg BT 167.32 556.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 556.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 556.76 Td (158,453) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 556.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 556.76 Td (181,660) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 556.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 556.76 Td (148,860) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 544.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 532.76 Td (Expenses related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 218.04 532.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 532.76 Td (\(1,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 532.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 532.76 Td (\(1,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 532.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 532.76 Td (\(903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 532.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 520.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 520.76 Td (\(2,307) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 520.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 520.76 Td (\(5,791) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 520.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.25 520.76 Td (\(10,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 520.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 508.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.50 508.76 Td (\(753) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 508.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 508.76 Td (\(1,215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 508.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 508.76 Td (\(1,214) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 508.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 496.76 Td (Non-compensation expenses from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.50 496.76 Td (\(1) Tj ET Q q 0 0 0 rg BT 442.00 496.76 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 496.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 496.76 Td (\(171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 496.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 496.76 Td (\(169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 496.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 484.76 Td (Adjusted operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 484.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 484.76 Td (154,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 484.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.75 484.76 Td (173,284) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 484.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.75 484.76 Td (136,370) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 460.90 Td (Segment pr) Tj ET Q q 0 0 0 rg BT 83.16 460.90 Td (e-tax operating income:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 448.76 Td (Segment pre-tax operating income U.S. GAAP) Tj ET Q q 0 0 0 rg BT 220.80 448.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 448.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 448.76 Td (23,938) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 448.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 448.76 Td (33,375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 448.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 448.76 Td (9,036) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 436.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 424.76 Td (Revenue related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 215.54 424.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.50 424.76 Td (\(413) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 424.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 424.76 Td (\(1,264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 424.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 424.76 Td (\(919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 424.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 412.76 Td (Expenses related to noncontrolling interests \(1) Tj ET Q q 0 0 0 rg BT 218.04 412.76 Td (1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 412.76 Td (1,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 412.76 Td (1,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 412.76 Td (903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 400.76 Td (Compensation from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 400.76 Td (2,307) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 400.76 Td (5,791) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 400.76 Td (10,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 388.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 388.76 Td (753) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 388.76 Td (1,215) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 388.76 Td (1,214) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 376.76 Td (Non-compensation expenses from acquisition-related agreements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 376.76 Td (1) Tj ET Q q 0 0 0 rg BT 442.00 376.76 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.50 376.76 Td (171) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 376.76 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 364.76 Td (Adjusted segment pre-tax operating income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 364.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 364.76 Td (27,728) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 364.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 364.76 Td (40,487) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 364.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 364.76 Td (20,607) Tj ET Q BT /F9 9.00 Tf ET q 0 0 0 rg BT 39.00 340.90 Td (Asset Management) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 328.90 Td (Operating expenses:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 316.76 Td (Operating expenses U.S. GAAP) Tj ET Q q 0 0 0 rg BT 167.32 316.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 316.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 316.76 Td (10,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 316.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.25 316.76 Td (10,766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 316.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 316.76 Td (12,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 304.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 292.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 292.76 Td (\(1,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 292.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 292.76 Td (\(1,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 292.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 292.76 Td (\(1,401) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 292.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 280.76 Td (Adjusted operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 280.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 280.76 Td (9,090) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 280.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 280.76 Td (9,366) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 280.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 548.25 280.76 Td (10,763) Tj ET Q BT /F7 9.00 Tf ET q 0 0 0 rg BT 39.00 256.90 Td (Segment pr) Tj ET Q q 0 0 0 rg BT 83.08 256.90 Td (e-tax operating income/\(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 244.76 Td (Segment pre-tax operating loss U.S. GAAP) Tj ET Q q 0 0 0 rg BT 208.15 244.76 Td ( basis) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 244.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 244.76 Td (\(1,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 244.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 244.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 488.75 244.76 Td (\(1,430) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 244.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 244.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.50 244.76 Td (\(998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 573.00 244.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 232.76 Td (Adjustments:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.00 220.76 Td (Amortization of intangible assets related to acquisitions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.75 220.76 Td (1,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.75 220.76 Td (1,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.75 220.76 Td (1,401) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 45.00 208.76 Td (Adjusted segment pre-tax operating income/\(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.00 208.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.50 208.76 Td (351) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.00 208.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.00 208.76 Td (\(30) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.00 208.76 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 522.00 208.76 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 208.76 Td (403) Tj ET Q BT /F1 10.00 Tf ET BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 178.40 Td (This ) Tj ET Q q 0 0 0 rg BT 51.57 178.40 Td (pr) Tj ET Q q 0 0 0 rg BT 58.39 178.40 Td (esentation ) Tj ET Q q 0 0 0 rg BT 93.06 178.40 Td (includes ) Tj ET Q q 0 0 0 rg BT 121.51 178.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 156.47 178.40 Td ( ) Tj ET Q q 0 0 0 rg BT 158.26 178.40 Td (measur) Tj ET Q q 0 0 0 rg BT 181.52 178.40 Td (es. ) Tj ET Q q 0 0 0 rg BT 191.97 178.40 Td ( ) Tj ET Q q 0 0 0 rg BT 193.76 178.40 Td (The ) Tj ET Q q 0 0 0 rg BT 207.55 178.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 242.50 178.40 Td ( ) Tj ET Q q 0 0 0 rg BT 244.29 178.40 Td (measur) Tj ET Q q 0 0 0 rg BT 267.55 178.40 Td (es ) Tj ET Q q 0 0 0 rg BT 276.00 178.40 Td (ar) Tj ET Q q 0 0 0 rg BT 282.82 178.40 Td (e ) Tj ET Q q 0 0 0 rg BT 288.16 178.40 Td (not ) Tj ET Q q 0 0 0 rg BT 300.17 178.40 Td (meant ) Tj ET Q q 0 0 0 rg BT 321.51 178.40 Td (to ) Tj ET Q q 0 0 0 rg BT 329.52 178.40 Td (be ) Tj ET Q q 0 0 0 rg BT 338.86 178.40 Td (consider) Tj ET Q q 0 0 0 rg BT 366.12 178.40 Td (ed ) Tj ET Q q 0 0 0 rg BT 375.46 178.40 Td (in ) Tj ET Q q 0 0 0 rg BT 383.47 178.40 Td (isolation ) Tj ET Q q 0 0 0 rg BT 413.26 178.40 Td (or ) Tj ET Q q 0 0 0 rg BT 422.16 178.40 Td (as ) Tj ET Q q 0 0 0 rg BT 431.07 178.40 Td (a ) Tj ET Q q 0 0 0 rg BT 436.86 178.40 Td (substitute ) Tj ET Q q 0 0 0 rg BT 469.31 178.40 Td (for ) Tj ET Q q 0 0 0 rg BT 480.44 178.40 Td (the ) Tj ET Q q 0 0 0 rg BT 492.00 178.40 Td (corr) Tj ET Q q 0 0 0 rg BT 505.48 178.40 Td (esponding ) Tj ET Q q 0 0 0 rg BT 540.16 178.40 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 555.72 178.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 576.02 178.40 Td ( ) Tj ET Q BT /F8 8.00 Tf ET q 0 0 0 rg BT 36.00 168.80 Td (measur) Tj ET Q q 0 0 0 rg BT 59.26 168.80 Td (es, ) Tj ET Q q 0 0 0 rg BT 69.92 168.80 Td (and ) Tj ET Q q 0 0 0 rg BT 83.92 168.80 Td (should ) Tj ET Q q 0 0 0 rg BT 107.26 168.80 Td (be ) Tj ET Q q 0 0 0 rg BT 116.81 168.80 Td (r) Tj ET Q q 0 0 0 rg BT 119.63 168.80 Td (ead ) Tj ET Q q 0 0 0 rg BT 133.18 168.80 Td (only ) Tj ET Q q 0 0 0 rg BT 148.95 168.80 Td (in ) Tj ET Q q 0 0 0 rg BT 157.17 168.80 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 196.94 168.80 Td (with ) Tj ET Q q 0 0 0 rg BT 212.72 168.80 Td (our ) Tj ET Q q 0 0 0 rg BT 225.84 168.80 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 268.72 168.80 Td (financial ) Tj ET Q q 0 0 0 rg BT 299.16 168.80 Td (statements ) Tj ET Q q 0 0 0 rg BT 334.93 168.80 Td (pr) Tj ET Q q 0 0 0 rg BT 341.75 168.80 Td (epar) Tj ET Q q 0 0 0 rg BT 356.12 168.80 Td (ed ) Tj ET Q q 0 0 0 rg BT 365.67 168.80 Td (in ) Tj ET Q q 0 0 0 rg BT 373.89 168.80 Td (accor) Tj ET Q q 0 0 0 rg BT 391.81 168.80 Td (dance ) Tj ET Q q 0 0 0 rg BT 412.91 168.80 Td (with ) Tj ET Q q 0 0 0 rg BT 428.69 168.80 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 444.47 168.80 Td (GAAP) Tj ET Q q 0 0 0 rg BT 463.88 168.80 Td (. ) Tj ET Q q 0 0 0 rg BT 467.88 168.80 Td ( ) Tj ET Q /GS0 gs q 89.00 0 0 18.00 36.00 761.50 cm /I16 Do Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (17) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 729.90 Td (Piper) Tj ET Q q 0 0 0 rg BT 63.77 729.90 Td ( Jaffray Companies) Tj ET Q BT /F7 12.00 Tf ET q 0 0 0 rg BT 36.00 712.50 Td (Notes to Non-GAAP) Tj ET Q q 0 0 0 rg BT 139.32 712.50 Td ( Financial Schedules) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 688.20 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 688.20 Td (Selected Summary Financial Information are non-GAAP) Tj ET Q q 0 0 0 rg BT 299.63 688.20 Td ( measures. Management believes that presenting results and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 674.70 Td (measures on an adjusted basis in conjunction with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 321.88 674.70 Td ( measures provides the most meaningful basis for comparison ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 661.20 Td (of its operating results across periods. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 641.70 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 641.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 641.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 641.70 Td ( measure which excludes revenues related to noncontrolling interests \(see \(1) Tj ET Q q 0 0 0 rg BT 430.88 641.70 Td (1\) below\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 622.20 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 622.20 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 622.20 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 622.20 Td ( measure which excludes compensation expense from acquisition-related agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 602.70 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 602.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 602.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 602.70 Td ( measure which excludes \(a\) non-compensation expenses related to noncontrolling interests \(see \(1) Tj ET Q q 0 0 0 rg BT 521.41 602.70 Td (1\) below\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 589.20 Td (\(b\) non-compensation expenses from acquisition-related agreements and \(c\) amortization of intangible assets related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 575.70 Td (acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 556.20 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 556.20 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 556.20 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 556.20 Td ( measure which excludes \(a\) revenues and expenses related to noncontrolling interests \(see \(1) Tj ET Q q 0 0 0 rg BT 500.01 556.20 Td (1\) below\), \(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 542.70 Td (compensation and non-compensation expenses from acquisition-related agreements and \(c\) amortization of intangible assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 529.20 Td (related to acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 509.70 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 509.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 509.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 509.70 Td ( measure which represents adjusted income before adjusted income tax expense/\(benefit\) as a percentage of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 496.20 Td (adjusted net revenues.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 476.70 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 476.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 476.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 476.70 Td ( measure which excludes the income tax benefit from \(a\) compensation and non-compensation expenses from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 463.20 Td (acquisition-related agreements and \(b\) amortization of intangible assets related to acquisitions. ) Tj ET Q q 0 0 0 rg BT 452.81 463.20 Td (This also excludes the impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 449.70 Td (of a one-time remeasurement of deferred tax assets due to a lower federal corporate tax rate resulting from the enactment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 436.20 Td (the ) Tj ET Q q 0 0 0 rg BT 86.54 436.20 Td (T) Tj ET Q q 0 0 0 rg BT 91.95 436.20 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 161.39 436.20 Td (Act, as well as the impact of a deferred tax valuation allowance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 416.70 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 416.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 416.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 416.70 Td ( measure which represents net income earned by the Company excluding \(a\) compensation and non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 403.20 Td (compensation expenses from acquisition-related agreements, \(b\) amortization of intangible assets related to acquisitions, \(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 389.70 Td (the impact of the enactment of the ) Tj ET Q q 0 0 0 rg BT 210.93 389.70 Td (T) Tj ET Q q 0 0 0 rg BT 216.34 389.70 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 285.79 389.70 Td (Act, \(d\) the impact of a deferred tax valuation allowance and \(e\) the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 376.20 Td (income tax expense/\(benefit\) allocated to the adjustments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 356.70 Td (\(9\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 356.70 Td (Ef) Tj ET Q q 0 0 0 rg BT 81.26 356.70 Td (fective tax rate is a non-GAAP) Tj ET Q q 0 0 0 rg BT 204.46 356.70 Td ( measure which is computed based on a quotient, the numerator of which is adjusted income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 343.20 Td (tax expense/\(benefit\) and the denominator of which is adjusted income before adjusted income tax expense/\(benefit\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 323.70 Td (\(10\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 323.70 Td (Piper Jaf) Tj ET Q q 0 0 0 rg BT 107.09 323.70 Td (fray Companies calculates earnings per common share using the two-class method, which requires the allocation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 310.20 Td (consolidated adjusted net income between common shareholders and participating security holders, which in the case of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 296.70 Td (Piper Jaf) Tj ET Q q 0 0 0 rg BT 107.09 296.70 Td (fray Companies, represents unvested stock with non-forfeitable dividend rights. No allocation of undistributed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 283.20 Td (earnings is made for periods in which a loss is incurred, or for periods in which the special cash dividend exceeds adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 269.70 Td (net income resulting in an undistributed loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 250.20 Td (\(1) Tj ET Q q 0 0 0 rg BT 43.96 250.20 Td (1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 250.20 Td (Noncontrolling interests include revenue and expenses from consolidated alternative asset management entities that are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 236.70 Td (attributable, either directly or indirectly) Tj ET Q q 0 0 0 rg BT 229.34 236.70 Td (, to Piper Jaf) Tj ET Q q 0 0 0 rg BT 279.71 236.70 Td (fray Companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 217.20 Td (\(12\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 217.20 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 217.20 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 217.20 Td ( measure which excludes \(a\) expenses related to noncontrolling interests \(see \(1) Tj ET Q q 0 0 0 rg BT 445.04 217.20 Td (1\) above\), \(b\) compensation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 203.70 Td (non-compensation expenses from acquisition-related agreements and \(c\) amortization of intangible assets related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 190.20 Td (acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 36.00 170.70 Td (\(13\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 170.70 Td (A) Tj ET Q q 0 0 0 rg BT 78.67 170.70 Td ( non-GAAP) Tj ET Q q 0 0 0 rg BT 126.36 170.70 Td ( measure which excludes amortization of intangible assets related to acquisitions.) 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