%PDF-1.5 1 0 obj <> endobj 3 0 obj <>] /Rotate 0 /Contents 4 0 R>> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 734.25 m 561.5 734.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 730.25 m 561.5 730.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.00 730.75 Td () Tj ET Q BT /F2 18.00 Tf ET q 0 0 0 rg BT 235.55 705.15 Td (UNITED ST) Tj ET Q q 0 0 0 rg BT 330.74 705.15 Td (A) Tj ET Q q 0 0 0 rg BT 342.41 705.15 Td (TES) Tj ET Q BT /F2 18.00 Tf ET q 0 0 0 rg BT 112.70 683.55 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 225.25 683.55 Td (AND EXCHANGE COMMISSION) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 242.65 669.15 Td (W) Tj ET Q q 0 0 0 rg BT 253.99 669.15 Td (ashington, D. C. 20549) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 640.25 m 368 640.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 640.75 Td () Tj ET Q BT /F2 18.00 Tf ET q 0 0 0 rg BT 257.25 613.15 Td (FORM 10-Q) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 596.25 m 368 596.25 l s BT /F1 12.00 Tf ET q 0 0 0 rg BT 369.50 592.75 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 592.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 568.75 Td (\(Mark One\)) Tj ET Q /GS0 gs q 12.72 0 0 11.71 52.50 544.04 cm /I1 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.50 547.62 Td (QUAR) Tj ET Q q 0 0 0 rg BT 107.41 547.62 Td (TERL) Tj ET Q q 0 0 0 rg BT 138.99 547.62 Td (Y) Tj ET Q q 0 0 0 rg BT 147.21 547.62 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 191.79 547.62 Td (T) Tj ET Q q 0 0 0 rg BT 199.57 547.62 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 267.69 547.62 Td ( ) Tj ET Q q 0 0 0 rg BT 270.48 547.62 Td (T) Tj ET Q q 0 0 0 rg BT 278.26 547.62 Td (O SECTION 13 OR 15\(d\) OF) Tj ET Q q 0 0 0 rg BT 429.50 547.62 Td ( ) Tj ET Q q 0 0 0 rg BT 432.28 547.62 Td (THE SECURITIES) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.50 535.62 Td (EXCHANGE ) Tj ET Q q 0 0 0 rg BT 144.18 535.62 Td (ACT) Tj ET Q q 0 0 0 rg BT 169.30 535.62 Td ( OF) Tj ET Q q 0 0 0 rg BT 188.52 535.62 Td ( 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.35 506.75 Td (For) Tj ET Q q 0 0 0 rg BT 220.72 506.75 Td ( the quarterly period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.43 506.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 359.13 506.75 Td (ch31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.63 506.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 486.35 Td (OR) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 313.50 486.35 Td () Tj ET Q /GS0 gs q 10.69 0 0 11.71 52.50 461.64 cm /I2 Do Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.50 465.22 Td (TRANSITION REPOR) Tj ET Q q 0 0 0 rg BT 193.10 465.22 Td (T) Tj ET Q q 0 0 0 rg BT 200.88 465.22 Td ( PURSUANT) Tj ET Q q 0 0 0 rg BT 269.01 465.22 Td ( ) Tj ET Q q 0 0 0 rg BT 271.79 465.22 Td (T) Tj ET Q q 0 0 0 rg BT 279.58 465.22 Td (O SECTION 13 OR 15\(d\) OF) Tj ET Q q 0 0 0 rg BT 430.81 465.22 Td ( ) Tj ET Q q 0 0 0 rg BT 433.60 465.22 Td (THE SECURITIES) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 72.50 453.22 Td (EXCHANGE ) Tj ET Q q 0 0 0 rg BT 144.18 453.22 Td (ACT) Tj ET Q q 0 0 0 rg BT 169.30 453.22 Td ( OF) Tj ET Q q 0 0 0 rg BT 188.52 453.22 Td ( 1934) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.80 424.35 Td (For) Tj ET Q q 0 0 0 rg BT 225.17 424.35 Td ( the transition period fr) Tj ET Q q 0 0 0 rg BT 325.53 424.35 Td (om ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 341.3625 422.78505859375 m 391.3625 422.78505859375 l s q 0 0 0 rg BT 341.36 424.35 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.36 424.35 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 404.692578125 422.78505859375 m 454.692578125 422.78505859375 l s q 0 0 0 rg BT 404.69 424.35 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 403.85 m 368 403.85 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 404.35 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.65 380.35 Td (Commission file number) Tj ET Q q 0 0 0 rg BT 340.47 380.35 Td ( 1-12043) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 359.85 m 368 359.85 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.50 360.35 Td () Tj ET Q BT /F2 24.00 Tf ET q 0 0 0 rg BT 119.60 322.55 Td (OPPENHEIMER HOLDINGS INC.) 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Employer) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 398.25 242.10 Td (Identification No.\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.55 216.15 Td (85 Br) Tj ET Q q 0 0 0 rg BT 295.98 216.15 Td (oad Str) Tj ET Q q 0 0 0 rg BT 327.19 216.15 Td (eet) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.40 204.15 Td ( New ) Tj ET Q q 0 0 0 rg BT 283.91 204.15 Td (Y) Tj ET Q q 0 0 0 rg BT 290.02 204.15 Td (ork, NY) Tj ET Q q 0 0 0 rg BT 324.10 204.15 Td ( 10004) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 220.30 194.55 Td (\(Addr) Tj ET Q q 0 0 0 rg BT 241.05 194.55 Td (ess of principal executive offices\) \(Zip Code\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.75 170.55 Td (\(212\)668-8000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 215.75 160.95 Td (\(Registrant's telephone number) Tj ET Q q 0 0 0 rg BT 323.01 160.95 Td (, including ar) Tj ET Q q 0 0 0 rg BT 368.43 160.95 Td (ea code\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 165.65 139.35 Td (\(Former) Tj ET Q q 0 0 0 rg BT 194.37 139.35 Td ( name, former) Tj ET Q q 0 0 0 rg BT 242.87 139.35 Td ( addr) Tj ET Q q 0 0 0 rg BT 261.18 139.35 Td (ess and former) Tj ET Q q 0 0 0 rg BT 311.69 139.35 Td ( fiscal year) Tj ET Q q 0 0 0 rg BT 347.83 139.35 Td (, if changed since last r) Tj ET Q q 0 0 0 rg BT 425.46 139.35 Td (eport\)) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 116.45000000000005 m 368 116.45000000000005 l s BT /F1 12.00 Tf ET q 0 0 0 rg BT 369.50 112.95 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 88.95 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 76.95 Td (Securities Exchange ) Tj ET Q q 0 0 0 rg BT 132.81 76.95 Td (Act of 1934 during the preceding 12 months \(or for such shorter period that the registrant was required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 64.95 Td (file such reports\), and \(2\)has been subject to such filing requirements for the past 90 days.) Tj ET Q q 0 0 0 rg BT 421.80 64.95 Td (Y) Tj ET Q q 0 0 0 rg BT 428.03 64.95 Td (es) Tj ET Q /GS0 gs q 10.60 0 0 10.09 441.36 62.79 cm /I3 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.96 64.95 Td (No) Tj ET Q /GS0 gs q 8.91 0 0 10.09 479.18 62.79 cm /I4 Do Q endstream endobj 5 0 obj <>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 744.60 Td (Indicate by check mark whether the registrant has submitted electronically and posted on its corporate ) Tj ET Q q 0 0 0 rg BT 482.51 744.60 Td (W) Tj ET Q q 0 0 0 rg BT 491.15 744.60 Td (eb site, if any) Tj ET Q q 0 0 0 rg BT 544.37 744.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 732.60 Td (every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 462.55 732.60 Td ( \(232.405 of this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 720.60 Td (chapter\) during the preceding 12 months \(or for such shorter period that the registrant was required to submit and post such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 708.60 Td (files\).) 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See the definitions of "lar) Tj ET Q q 0 0 0 rg BT 398.49 672.60 Td (ge accelerated filer", "accelerated filer", ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 660.60 Td ("smaller reporting company", and "emer) Tj ET Q q 0 0 0 rg BT 211.23 660.60 Td (ging growth company" in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 429.99 660.60 Td (Act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.77 Td (Lar) Tj ET Q q 0 0 0 rg BT 66.29 633.77 Td (geacceleratedfiler) Tj ET Q /GS0 gs q 8.91 0 0 9.76 172.50 631.64 cm /I7 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 633.77 Td (Acceleratedfiler) Tj ET Q /GS0 gs q 10.60 0 0 9.76 510.50 631.64 cm /I8 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.77 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 8.91 0 0 9.76 172.50 601.64 cm /I9 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.50 603.77 Td (\(Do not check if a smaller reporting company\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 603.77 Td (Smallerreportingcompany) Tj ET Q /GS0 gs q 8.91 0 0 9.76 510.50 601.64 cm /I10 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.77 Td (Emer) Tj ET Q q 0 0 0 rg BT 73.97 573.77 Td (ging growth company) Tj ET Q /GS0 gs q 8.91 0 0 9.76 172.50 571.64 cm /I11 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 545.60 Td (If an emer) Tj ET Q q 0 0 0 rg BT 112.90 545.60 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 200.02 545.60 Td (, indicate by check mark if the registrant has elected not to use the extended transition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.60 Td (period for complying with any new or revised financial accounting standards provided pursuant to Section 13\(a\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.60 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 90.87 521.60 Td (Act. ) Tj ET Q /GS0 gs q 8.91 0 0 10.09 117.81 519.44 cm /I12 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 497.60 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.60 Td (Act\).) Tj ET Q q 0 0 0 rg BT 79.40 485.60 Td (Y) Tj ET Q q 0 0 0 rg BT 85.62 485.60 Td (es) Tj ET Q /GS0 gs q 8.91 0 0 10.09 98.95 483.44 cm /I13 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.86 485.60 Td (No) Tj ET Q /GS0 gs q 10.60 0 0 10.09 135.08 483.44 cm /I14 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 461.60 Td (The number of shares of the Company's Class) Tj ET Q q 0 0 0 rg BT 257.66 461.60 Td (A) Tj ET Q q 0 0 0 rg BT 264.33 461.60 Td ( non-voting common stock and Class B voting common stock \(being the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.60 Td (only classes of common stock of the Company\) outstanding on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.36 449.60 Td (April27, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.97 449.60 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.52 449.60 Td (13,141,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.52 449.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.96 449.60 Td (99,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.46 449.60 Td ( shares, respectively) Tj ET Q q 0 0 0 rg BT 554.61 449.60 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 427.1 m 562 427.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 423.1 m 562 423.1 l s BT /F1 10.00 Tf ET endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 742.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 730.10 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 230.12 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 236.05 730.10 Td (O QUAR) Tj ET Q q 0 0 0 rg BT 273.51 730.10 Td (TERL) Tj ET Q q 0 0 0 rg BT 297.50 730.10 Td (Y) Tj ET Q q 0 0 0 rg BT 304.35 730.10 Td ( REPOR) Tj ET Q q 0 0 0 rg BT 338.48 730.10 Td (T) Tj ET Q q 0 0 0 rg BT 344.41 730.10 Td ( ON FORM 10-Q) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 50.00 696.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 100.00 655.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.40 663.15 Td (Page) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.20 655.15 Td (No.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 641.77 Td (P) Tj ET Q q 0 0 0 rg BT 58.10 641.77 Td (AR) Tj ET Q q 0 0 0 rg BT 71.23 641.77 Td (T) Tj ET Q q 0 0 0 rg BT 76.95 641.77 Td ( I) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 640.4333984375 m 224.9072265625 640.4333984375 l s q 0 0 1 rg BT 100.00 641.77 Td (FINANCIAL) Tj ET Q q 0 0 1 rg BT 153.52 641.77 Td ( INFORMA) Tj ET Q q 0 0 1 rg BT 201.03 641.77 Td (TION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 627.77 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 626.4333984375 m 232.1875 626.4333984375 l s q 0 0 1 rg BT 100.00 627.77 Td (Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 612.4333984375 m 448.8037109375 612.4333984375 l s q 0 0 1 rg BT 100.00 613.77 Td (Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 597.5333984375 m 518.525390625 597.5333984375 l s q 0 0 1 rg BT 100.00 598.87 Td (Condensed Consolidated Statements of Operations for the three months ended March 31, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 582.5333984375 m 523.5107421875 582.5333984375 l s q 0 0 1 rg BT 100.00 583.87 Td (Condensed Consolidated Statements of Comprehensive Income \(Loss\) for the three months ended March ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 572.5333984375 m 174.4384765625 572.5333984375 l s q 0 0 1 rg BT 100.00 573.87 Td (31, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 557.5333984375 m 530.6103515625 557.5333984375 l s q 0 0 1 rg BT 100.00 558.87 Td (Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 547.5333984375 m 174.4384765625 547.5333984375 l s q 0 0 1 rg BT 100.00 548.87 Td (31, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 532.5333984375 m 521.6015625 532.5333984375 l s q 0 0 1 rg BT 100.00 533.87 Td (Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2018 and 2017) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 518.4333984375 m 321.9140625 518.4333984375 l s q 0 0 1 rg BT 100.00 519.77 Td (Notes to Condensed Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 505.77 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 504.4333984375 m 457.314453125 504.4333984375 l s q 0 0 1 rg BT 100.00 505.77 Td (Management's Discussion and ) Tj ET Q q 0 0 1 rg BT 223.17 505.77 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.77 Td (Item 3.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 490.4333984375 m 341.62109375 490.4333984375 l s q 0 0 1 rg BT 100.00 491.77 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 264.40 491.77 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.77 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 476.4333984375 m 198.3154296875 476.4333984375 l s q 0 0 1 rg BT 100.00 477.77 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 463.77 Td (P) Tj ET Q q 0 0 0 rg BT 58.10 463.77 Td (AR) Tj ET Q q 0 0 0 rg BT 71.23 463.77 Td (T) Tj ET Q q 0 0 0 rg BT 76.95 463.77 Td ( II) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 462.4333984375 m 204.7216796875 462.4333984375 l s q 0 0 1 rg BT 100.00 463.77 Td (OTHER INFORMA) Tj ET Q q 0 0 1 rg BT 180.84 463.77 Td (TION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.77 Td (Item 1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 448.4333984375 m 174.140625 448.4333984375 l s q 0 0 1 rg BT 100.00 449.77 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 435.77 Td (Item 1A.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 434.4333984375 m 150.2783203125 434.4333984375 l s q 0 0 1 rg BT 100.00 435.77 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 421.77 Td (Item 2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 100 420.4333984375 m 341.6015625 420.4333984375 l s q 0 0 1 rg BT 100.00 421.77 Td (Unregistered Sales of Equity Securities and Use of Proceeds) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 407.77 Td (Item 6.) 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0.9333333333333333 1 rg /GS0 gs 483.50 330.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 330.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 304.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 304.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 304.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 304.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 278.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 278.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 278.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 278.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 252.75 358.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 252.75 75.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 252.75 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 252.75 75.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 200.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 200.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 200.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 200.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 174.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 174.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 174.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 174.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 148.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 148.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 148.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 148.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 122.75 358.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 122.75 75.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 122.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 122.75 75.00 -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 408.5 658.75 m 483.5 658.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 658.75 m 562.5 658.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 473.75 m 483.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 473.75 m 562.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 461.75 m 483.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 459.75 m 483.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 461.75 m 562.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 459.75 m 562.5 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 304.75 m 483.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 304.75 m 562.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 291.75 m 483.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 291.75 m 562.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 200.75 m 483.5 200.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 200.75 m 562.5 200.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 200.75 m 483.5 200.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 200.75 m 562.5 200.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 148.75 m 483.5 148.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 148.75 m 562.5 148.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 122.75 m 483.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 122.75 m 562.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 109.75 m 483.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 109.75 m 562.5 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 97.75 m 483.5 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 95.75 m 483.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 97.75 m 562.5 97.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 95.75 m 562.5 95.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 663.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 663.00 Td (essed in thousands, except number of shar) Tj ET Q q 0 0 0 rg BT 205.94 663.00 Td (es and per shar) Tj ET Q q 0 0 0 rg BT 255.20 663.00 Td (e amounts\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.05 663.00 Td (March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.05 663.00 Td (December 31, 2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 650.15 Td (ASSETS) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 637.01 Td (Cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 637.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 637.01 Td (42,715) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 637.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 637.01 Td (48,154) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 624.01 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 161.65 624.01 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 624.01 Td (70,938) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 624.01 Td (42,222) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 611.01 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 246.09 611.01 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 611.01 Td (171,130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 611.01 Td (187,1) Tj ET Q q 0 0 0 rg BT 550.00 611.01 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 598.01 Td (Receivable from customers, net of allowance for credit losses of $809 \($769 in 2017\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 598.01 Td (881,941) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 598.01 Td (848,226) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 585.01 Td (Income tax receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 585.01 Td (3,132) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 585.01 Td (2,939) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 572.01 Td (Securities purchased under agreements to resell, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 572.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 572.01 Td (658) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 559.01 Td (Securities owned, including amounts pledged of $688,647 \($655,683 in 2017\), at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 559.01 Td (999,627) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 559.01 Td (926,597) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 546.01 Td (Notes receivable, net of accumulated amortization and allowance for uncollectibles of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 537.01 Td ($24,680 and $8,120, respectively \($24,705 and $7,975, respectively) Tj ET Q q 0 0 0 rg BT 314.90 537.01 Td (, in 2017\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 538.21 Td (42,386) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 538.21 Td (40,520) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 525.01 Td (Furniture, equipment and leasehold improvements, net of accumulated depreciation of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 516.01 Td ($84,344 \($82,826 in 2017\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 517.21 Td (28,341) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 517.21 Td (27,187) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 504.01 Td (Intangible assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 504.01 Td (32,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 504.01 Td (31,700) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 491.01 Td (Goodwill) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 491.01 Td (137,889) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 491.01 Td (137,889) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 478.01 Td (Other assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 478.01 Td (123,777) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 478.01 Td (145,310) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 465.01 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 465.01 Td (otal assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 465.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.00 465.01 Td (2,533,976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 465.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.00 465.01 Td (2,438,517) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 452.15 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 110.53 452.15 Td (AND ST) Tj ET Q q 0 0 0 rg BT 142.96 452.15 Td (OCKHOLDERS' EQUITY) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 439.15 Td (Liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 426.01 Td (Drafts payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 426.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 426.01 Td (20,993) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 426.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 426.01 Td (42,412) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 413.01 Td (Bank call loans) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 413.01 Td (147,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 413.01 Td (1) Tj ET Q q 0 0 0 rg BT 534.25 413.01 Td (18,300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 400.01 Td (Payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 224.11 400.01 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 400.01 Td (255,126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 400.01 Td (21) Tj ET Q q 0 0 0 rg BT 538.75 400.01 Td (1,483) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 387.01 Td (Payable to customers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 387.01 Td (445,085) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 387.01 Td (385,907) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 374.01 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 374.01 Td (576,017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 374.01 Td (586,478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 361.01 Td (Securities sold but not yet purchased, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 361.01 Td (147,886) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 361.01 Td (94,486) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 348.01 Td (Accrued compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 348.01 Td (103,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 348.01 Td (173,1) Tj ET Q q 0 0 0 rg BT 550.00 348.01 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 335.01 Td (Accounts payable and other liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 335.01 Td (94,172) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 335.01 Td (92,495) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 322.01 Td (Senior secured notes, net of debt issuance costs of $1,098 \($1,163 in 2017\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 322.01 Td (198,902) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 322.01 Td (198,837) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 309.01 Td (Deferred tax liabilities, net of deferred tax assets of $44,138 \($47,597 in 2017\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 309.01 Td (14,135) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 309.01 Td (1) Tj ET Q q 0 0 0 rg BT 538.75 309.01 Td (1,092) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 296.01 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 296.01 Td (otal liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.00 296.01 Td (2,003,467) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.00 296.01 Td (1,914,606) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 283.01 Td (Commitments and contingencies \(note 12\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 270.15 Td (Stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 257.01 Td (Share capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 244.01 Td (Class) Tj ET Q q 0 0 0 rg BT 110.50 244.01 Td (A) Tj ET Q q 0 0 0 rg BT 116.51 244.01 Td ( non-voting common stock, par value $0.001 per share, 50,000,000 shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 235.01 Td (authorized, 13,141,103 and 13,139,203 shares issued and outstanding as of March 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 226.01 Td (2018 and December 31, 2017, respectively) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 226.21 Td (58,396) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 226.21 Td (58,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 213.01 Td (Class B voting common stock, par value $0.001 per share, 99,665 shares authorized,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 204.01 Td (issued and outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 205.21 Td (133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 205.21 Td (133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 192.01 Td (58,529) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 192.01 Td (58,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 179.01 Td (Contributed capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 179.01 Td (37,996) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 179.01 Td (36,546) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 166.01 Td (Retained earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 166.01 Td (432,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 166.01 Td (426,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 153.01 Td (Accumulated other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 153.01 Td (1,440) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 153.01 Td (1,582) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 140.01 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 140.01 Td (otal Oppenheimer Holdings Inc. stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 140.01 Td (530,144) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 140.01 Td (523,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 127.01 Td (Non-controlling interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 127.01 Td (365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 127.01 Td (361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 114.01 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 114.01 Td (otal stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 114.01 Td (530,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 114.01 Td (523,91) Tj ET Q q 0 0 0 rg BT 554.50 114.01 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 101.01 Td (T) Tj ET Q q 0 0 0 rg BT 75.87 101.01 Td (otal liabilities and stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 101.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 444.00 101.01 Td (2,533,976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 101.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.00 101.01 Td (2,438,517) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 73.25 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.85 730.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 259.58 730.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 292.38 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 298.50 730.10 Td (TEMENTS OF OPERA) Tj ET Q q 0 0 0 rg BT 394.06 730.10 Td (TIONS \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.45 718.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 222.22 718.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 243.98 718.10 Td (THREE MONTHS ENDED MARCH 31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 694.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 666.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 666.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 666.60 4.00 -14.00 re f 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 470.6 m 483.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 456.6 m 483.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 470.6 m 562.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 456.6 m 483.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 428.6 m 483.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 428.6 m 562.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 428.6 m 483.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 414.6 m 483.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 414.6 m 562.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 358.6 m 483.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 358.6 m 562.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 358.6 m 483.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 344.6 m 483.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 358.6 m 562.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 344.6 m 562.5 344.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 302.6 m 483.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 302.6 m 562.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 289.6 m 483.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 287.6 m 483.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 302.6 m 562.5 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 289.6 m 562.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 287.6 m 562.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 232.60000000000002 m 483.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 219.60000000000002 m 483.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 217.60000000000002 m 483.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 232.60000000000002 m 562.5 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 219.60000000000002 m 562.5 219.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 217.60000000000002 m 562.5 217.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 162.60000000000002 m 483.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 162.60000000000002 m 562.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 162.60000000000002 m 483.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 149.60000000000002 m 483.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 147.60000000000002 m 483.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 162.60000000000002 m 562.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 149.60000000000002 m 562.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 147.60000000000002 m 562.5 147.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 698.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 698.85 Td (essed in thousands, except number of shar) Tj ET Q q 0 0 0 rg BT 205.94 698.85 Td (es and per shar) Tj ET Q q 0 0 0 rg BT 255.20 698.85 Td (e amounts\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 698.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 698.85 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 686.00 Td (REVENUE) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 671.86 Td (Commissions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 671.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 671.06 Td (83,407) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 671.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 671.06 Td (86,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 657.86 Td (Advisory fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 657.06 Td (77,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 657.06 Td (69,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 643.86 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 643.06 Td (28,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 643.06 Td (18,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 629.86 Td (Bank deposit sweep income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 629.06 Td (25,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 629.06 Td (14,126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 615.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 615.06 Td (12,227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 615.06 Td (10,565) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 601.86 Td (Principal transactions, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 601.06 Td (2,726) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 601.06 Td (5,373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 587.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 587.06 Td (5,1) Tj ET Q q 0 0 0 rg BT 471.00 587.06 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 587.06 Td (9,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 573.86 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 573.86 Td (otal revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 573.06 Td (234,530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 573.06 Td (213,261) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 560.00 Td (EXPENSES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 545.86 Td (Compensation and related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 545.06 Td (153,104) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 545.06 Td (143,878) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 531.86 Td (Communications and technology) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 531.06 Td (18,688) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 531.06 Td (17,706) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 517.86 Td (Occupancy and equipment costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 517.06 Td (15,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 517.06 Td (15,272) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 503.86 Td (Clearing and exchange fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 503.06 Td (6,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 503.06 Td (5,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 489.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 489.06 Td (8,963) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 489.06 Td (5,356) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 475.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 475.06 Td (22,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 475.06 Td (32,220) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 461.86 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 461.86 Td (otal expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.75 461.06 Td (224,905) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 461.06 Td (220,286) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 447.86 Td (Income \(Loss\) before income taxes from continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 447.06 Td (9,625) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 447.06 Td (\(7,025) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 447.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 433.86 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 433.06 Td (2,916) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 433.06 Td (\(1,687) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 433.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 420.00 Td (Net income \(loss\) fr) Tj ET Q q 0 0 0 rg BT 127.64 420.00 Td (om continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 419.06 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 419.06 Td (\(5,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 419.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 392.00 Td (Discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 377.86 Td (Income from discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 377.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 377.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 363.86 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 363.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 363.06 Td (389) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 350.00 Td (Net income fr) Tj ET Q q 0 0 0 rg BT 105.39 350.00 Td (om discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 349.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 349.06 Td (587) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 322.00 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 321.06 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 321.06 Td (\(4,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 321.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 307.86 Td (Less net income attributable to non-controlling interest, net of tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 307.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 307.06 Td (96) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 294.00 Td (Net income \(loss\) attributable to Oppenheimer) Tj ET Q q 0 0 0 rg BT 231.64 294.00 Td ( Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 293.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 293.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 293.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 293.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 293.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 266.00 Td (Basic net income \(loss\) per) Tj ET Q q 0 0 0 rg BT 154.90 266.00 Td ( shar) Tj ET Q q 0 0 0 rg BT 173.99 266.00 Td (e attributable to Oppenheimer) Tj ET Q q 0 0 0 rg BT 291.07 266.00 Td ( Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 251.86 Td (Continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 251.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 251.06 Td (0.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 251.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 251.06 Td (\(0.40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 251.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 237.86 Td (Discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 237.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 237.06 Td (0.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 223.86 Td (Net income \(loss\) per share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 223.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 223.06 Td (0.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 223.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 223.06 Td (\(0.36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 223.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 196.00 Td (Diluted net income \(loss\) per) Tj ET Q q 0 0 0 rg BT 162.90 196.00 Td ( shar) Tj ET Q q 0 0 0 rg BT 181.99 196.00 Td (e attributable to Oppenheimer) Tj ET Q q 0 0 0 rg BT 299.07 196.00 Td ( Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 181.86 Td (Continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 181.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 181.06 Td (0.48) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 181.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 181.06 Td (\(0.40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 181.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 167.86 Td (Discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 167.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 167.06 Td (0.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 153.86 Td (Net income \(loss\) per share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 153.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.25 153.06 Td (0.48) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 153.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.25 153.06 Td (\(0.36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 153.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 126.00 Td (W) Tj ET Q q 0 0 0 rg BT 61.50 126.00 Td (eighted average shar) Tj ET Q q 0 0 0 rg BT 140.82 126.00 Td (es) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 111.86 Td (Basic) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 111.06 Td (13,239,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.50 111.06 Td (13,399,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 97.86 Td (Diluted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.50 97.06 Td (13,977,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.50 97.06 Td (13,399,250) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 69.10 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.70 730.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 210.43 730.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 243.23 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 249.35 730.10 Td (TEMENTS OF COMPREHENSIVE INCOME \(LOSS\) \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.45 718.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 222.22 718.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 243.98 718.10 Td (THREE MONTHS ENDED MARCH 31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 694.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 666.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 666.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 666.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 666.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 638.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 638.60 75.00 -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 408.5 694.6 m 483.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 694.6 m 562.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 652.6 m 483.5 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 652.6 m 562.5 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 652.6 m 483.5 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 652.6 m 562.5 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 624.6 m 483.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 624.6 m 562.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 624.6 m 483.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 611.6 m 483.5 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 609.6 m 483.5 609.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 624.6 m 562.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 611.6 m 562.5 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 609.6 m 562.5 609.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 698.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 698.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 698.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 698.85 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 685.86 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 685.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 685.06 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 685.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 685.06 Td (\(4,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 685.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 671.86 Td (Other comprehensive income \(loss\), net of tax ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 221.95 675.94 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 657.86 Td (Currency translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.50 657.06 Td (\(142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 657.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 657.06 Td (1,424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 643.86 Td (Comprehensive income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 643.06 Td (6,567) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 643.06 Td (\(3,327) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 643.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 629.86 Td (Net income attributable to non-controlling interest, net of tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.50 629.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 629.06 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 615.86 Td (Comprehensive income \(loss\) attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 615.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 615.06 Td (6,563) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 615.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 615.06 Td (\(3,423) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 615.06 Td (\)) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.00 611.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 593.10 Td (No other comprehensive income \(loss\) is attributable to non-controlling interests.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 569.10 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <>] /Rotate 0 /Contents 16 0 R>> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 742.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.10 730.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 198.83 730.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 231.63 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 237.75 730.10 Td (TEMENTS OF CHANGES IN ST) Tj ET Q q 0 0 0 rg BT 375.91 730.10 Td (OCKHOLDERS' EQUITY) Tj ET Q q 0 0 0 rg BT 484.28 730.10 Td ( \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.45 718.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 222.22 718.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 243.98 718.10 Td (THREE MONTHS ENDED MARCH 31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 694.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 694.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 694.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 666.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 666.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 666.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 666.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 638.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 638.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 638.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 610.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 610.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 610.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 610.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 582.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 582.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 582.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 582.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 545.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 545.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 545.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 545.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 517.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 517.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 517.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 517.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 489.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 489.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 489.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 489.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 461.60 358.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 461.60 75.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 461.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 461.60 75.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 424.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 424.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 424.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 424.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 396.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 396.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 396.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 396.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 368.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 368.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 368.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 368.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 340.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 340.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 340.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 340.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 312.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 312.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 312.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 312.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 284.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 284.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 284.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 284.60 75.00 -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 407.5 694.6 m 482.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 694.6 m 561.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 638.6 m 482.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 638.6 m 561.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 638.6 m 482.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 624.6 m 482.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 638.6 m 561.5 638.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 624.6 m 561.5 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 545.6 m 482.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 545.6 m 561.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 545.6 m 482.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 531.6 m 482.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 545.6 m 561.5 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 531.6 m 561.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 438.6 m 482.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 438.6 m 561.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 438.6 m 482.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 424.6 m 482.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 438.6 m 561.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 424.6 m 561.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 382.6 m 482.5 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 382.6 m 561.5 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 382.6 m 482.5 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 368.6 m 482.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 382.6 m 561.5 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 368.6 m 561.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 354.6 m 482.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 368.6 m 561.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 354.6 m 561.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 284.6 m 482.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 284.6 m 561.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 284.6 m 482.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 270.6 m 482.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 284.6 m 561.5 284.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 270.6 m 561.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 257.6 m 482.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 255.60000000000002 m 482.5 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 270.6 m 561.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 257.6 m 561.5 257.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 255.60000000000002 m 561.5 255.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.00 698.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 69.92 698.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 698.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.50 698.85 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 686.00 Td (Shar) Tj ET Q q 0 0 0 rg BT 70.42 686.00 Td (e capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 671.86 Td (Balance at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 671.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.25 671.06 Td (58,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 671.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 671.06 Td (59,361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 657.86 Td (Issuance of Class) Tj ET Q q 0 0 0 rg BT 134.49 657.86 Td (A) Tj ET Q q 0 0 0 rg BT 140.49 657.86 Td ( non-voting common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 657.06 Td (37) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 657.06 Td (3,857) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 643.86 Td (Repurchase of Class) Tj ET Q q 0 0 0 rg BT 145.48 643.86 Td (A) Tj ET Q q 0 0 0 rg BT 151.49 643.86 Td ( non-voting common stock for cancellation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 643.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 643.06 Td (\(4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 643.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 629.86 Td (Balance at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.25 629.06 Td (58,529) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 629.06 Td (58,861) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 616.00 Td (Contributed capital) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 601.86 Td (Balance at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.25 601.06 Td (36,546) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 601.06 Td (41,765) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 587.86 Td (Share-based expense) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.75 587.06 Td (1,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 587.06 Td (1,317) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 573.86 Td (V) Tj ET Q q 0 0 0 rg BT 76.00 573.86 Td (ested employee share plan awards) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 467.00 573.06 Td (\(59) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 573.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 573.06 Td (\(6,060) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 573.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 559.86 Td (Cumulative-ef) Tj ET Q q 0 0 0 rg BT 121.90 559.86 Td (fect adjustment from adoption of new accounting update of employee share-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 550.86 Td (based accounting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 550.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 550.06 Td (425) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 536.86 Td (Balance at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.25 536.06 Td (37,996) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.25 536.06 Td (37,447) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 523.00 Td (Retained earnings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 508.86 Td (Balance at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.75 508.06 Td (426,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.75 508.06 Td (410,258) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 494.86 Td (Net income \(loss\) attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.75 494.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 494.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 494.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 480.86 Td (Dividends paid \($0.1) Tj ET Q q 0 0 0 rg BT 145.57 480.86 Td (1 per share\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.75 480.06 Td (\(1,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 480.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 480.06 Td (\(1,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 480.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 466.86 Td (Dividends received from non-controlling interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 466.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.50 466.06 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 452.86 Td (Cumulative-ef) Tj ET Q q 0 0 0 rg BT 121.90 452.86 Td (fect adjustment from adoption of new accounting update of employee share-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 443.86 Td (based accounting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 443.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 443.06 Td (\(314) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 443.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 429.86 Td (Balance at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.75 429.06 Td (432,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.75 429.06 Td (403,623) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 416.00 Td (Accumulated other) Tj ET Q q 0 0 0 rg BT 125.65 416.00 Td ( compr) Tj ET Q q 0 0 0 rg BT 152.73 416.00 Td (ehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 401.86 Td (Balance at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.75 401.06 Td (1,582) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 401.06 Td (\(681) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 401.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 387.86 Td (Currency translation adjustment) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 462.50 387.06 Td (\(142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.00 387.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 387.06 Td (1,424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 373.86 Td (Balance at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 458.75 373.06 Td (1,440) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 544.50 373.06 Td (743) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 360.00 Td (T) Tj ET Q q 0 0 0 rg BT 57.59 360.00 Td (otal Oppenheimer) Tj ET Q q 0 0 0 rg BT 126.84 360.00 Td ( Holdings Inc. stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.75 359.06 Td (530,144) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.75 359.06 Td (500,674) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 346.00 Td (Non-contr) Tj ET Q q 0 0 0 rg BT 91.41 346.00 Td (olling inter) Tj ET Q q 0 0 0 rg BT 133.50 346.00 Td (est) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 331.86 Td (Balance at beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.50 331.06 Td (361) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 331.06 Td (2,631) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 317.86 Td (Net income attributable to non-controlling interest, net of tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 474.50 317.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.00 317.06 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 303.86 Td (Dividends paid to non-controlling interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 303.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 541.50 303.06 Td (\(816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 303.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 289.86 Td (Dividends paid to parent) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 289.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 289.06 Td (\(6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.00 289.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.00 275.86 Td (Balance at end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.50 275.06 Td (365) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.75 275.06 Td (1,905) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.00 262.00 Td (T) Tj ET Q q 0 0 0 rg BT 57.18 262.00 Td (otal stockholders' equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 261.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.75 261.06 Td (530,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 261.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.75 261.06 Td (502,579) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 233.10 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.90 730.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 258.63 730.10 Td (TED ST) Tj ET Q q 0 0 0 rg BT 291.43 730.10 Td (A) Tj ET Q q 0 0 0 rg BT 297.55 730.10 Td (TEMENTS OF CASH FLOWS \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.45 718.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 222.22 718.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 243.98 718.10 Td (THREE MONTHS ENDED MARCH 31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 695.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 695.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 695.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 695.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 671.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 671.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 671.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 671.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 647.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 647.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 647.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 647.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 623.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 623.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 623.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 623.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 599.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 599.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 599.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 599.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 575.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 575.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 575.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 551.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 551.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 551.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 527.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 527.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 527.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 527.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 503.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 503.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 503.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 479.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 479.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 479.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 455.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 455.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 455.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 455.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 431.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 431.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 431.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 431.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 407.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 407.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 407.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 407.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 383.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 383.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 383.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 383.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 359.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 359.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 359.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 359.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 335.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 335.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 335.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 335.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 311.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 311.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 311.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 311.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 287.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 287.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 287.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 287.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 263.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 263.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 263.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 263.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 239.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 239.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 239.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 215.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 215.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 215.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 215.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 191.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 191.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 191.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 191.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 167.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 167.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 167.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 167.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 143.60 358.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 143.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 143.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 143.60 75.00 -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 408.5 695.6 m 483.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 695.6 m 562.5 695.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 371.6 m 483.5 371.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 371.6 m 562.5 371.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 359.6 m 483.5 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 359.6 m 562.5 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 323.6 m 483.5 323.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 323.6 m 562.5 323.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 311.6 m 483.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 311.6 m 562.5 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 239.60000000000002 m 483.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 239.60000000000002 m 562.5 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 227.60000000000002 m 483.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 227.60000000000002 m 562.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 227.60000000000002 m 483.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 227.60000000000002 m 562.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 203.60000000000002 m 483.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 203.60000000000002 m 562.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 203.60000000000002 m 483.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 192.60000000000002 m 483.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 190.60000000000002 m 483.5 190.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 192.60000000000002 m 562.5 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 190.60000000000002 m 562.5 190.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 699.55 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 699.55 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 699.55 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 699.55 Td (2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 687.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.92 687.00 Td (om operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 674.86 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 674.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 674.86 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 674.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 674.86 Td (\(4,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 674.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 662.86 Td (Adjustments to reconcile net income \(loss\) to net cash used in operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 650.86 Td (Non-cash items included in net income \(loss\):) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 638.86 Td (Depreciation and amortization of furniture, equipment and leasehold improvements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 638.86 Td (1,542) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 638.86 Td (1,432) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 626.86 Td (Deferred income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 626.86 Td (3,043) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 626.86 Td (807) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 614.86 Td (Amortization of notes receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 614.86 Td (3,205) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 614.86 Td (2,782) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 602.86 Td (Amortization of debt issuance costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 602.86 Td (65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 602.86 Td (121) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 590.86 Td (Provision for \(reversal of\) credit losses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 590.86 Td (40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.00 590.86 Td (\(33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 590.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 578.86 Td (Share-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 578.86 Td (1,484) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 578.86 Td (739) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 566.86 Td (Decrease \(increase\) in operating assets:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 554.86 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 167.65 554.86 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 554.86 Td (\(28,716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 554.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 554.86 Td (\(3,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 554.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 542.86 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 252.09 542.86 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 542.86 Td (15,985) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 542.86 Td (\(17,651) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 542.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 530.86 Td (Receivable from customers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 530.86 Td (\(33,755) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 530.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 530.86 Td (17,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 518.86 Td (Income tax receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.50 518.86 Td (\(193) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 518.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 518.86 Td (\(2,51) Tj ET Q q 0 0 0 rg BT 554.50 518.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 518.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 506.86 Td (Securities purchased under agreements to resell) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 506.86 Td (658) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 506.86 Td (20,1) Tj ET Q q 0 0 0 rg BT 550.00 506.86 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 494.86 Td (Securities owned) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 494.86 Td (\(73,030) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 494.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.75 494.86 Td (\(292,599) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 494.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 482.86 Td (Notes receivable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 482.86 Td (\(5,071) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 482.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 482.86 Td (\(6,491) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 482.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 470.86 Td (Other assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 470.86 Td (21,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 470.86 Td (\(5,860) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 470.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 458.86 Td (Increase \(decrease\) in operating liabilities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 446.86 Td (Drafts payable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 446.86 Td (\(21,419) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 446.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 446.86 Td (\(6,445) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 446.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 434.86 Td (Payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 230.11 434.86 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 434.86 Td (43,643) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 434.86 Td (\(46,185) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 434.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 422.86 Td (Payable to customers) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 422.86 Td (59,178) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 422.86 Td (54,402) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 410.86 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 410.86 Td (\(10,461) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 410.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 410.86 Td (78,006) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 398.86 Td (Securities sold but not yet purchased) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 398.86 Td (53,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 398.86 Td (214,422) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 386.86 Td (Accrued compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 386.86 Td (\(69,340) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 386.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 386.86 Td (\(49,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 386.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 77.00 374.86 Td (Accounts payable and other liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.75 374.86 Td (4,099) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 374.86 Td (3,301) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 362.86 Td (Cash used in operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 452.25 362.86 Td (\(27,543) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 362.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.25 362.86 Td (\(41,986) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 362.86 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 351.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.92 351.00 Td (om investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 338.86 Td (Purchase of furniture, equipment and leasehold improvements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 338.86 Td (\(2,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 338.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 338.86 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 338.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 326.86 Td (Purchase of intangible assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.50 326.86 Td (\(400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 326.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.00 326.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 89.00 314.86 Td (Cash used in investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 314.86 Td (\(3,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 314.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 314.86 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 314.86 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 303.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.92 303.00 Td (om financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 290.86 Td (Cash dividends paid on Class) Tj ET Q q 0 0 0 rg BT 161.00 290.86 Td (A) Tj ET Q q 0 0 0 rg BT 167.00 290.86 Td ( non-voting and Class B voting common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 290.86 Td (\(1,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 290.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 290.86 Td (\(1,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 290.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 278.86 Td (Cash dividends paid to non-controlling interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 278.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.50 278.86 Td (\(816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 278.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 266.86 Td (Repurchase of Class) Tj ET Q q 0 0 0 rg BT 128.48 266.86 Td (A) Tj ET Q q 0 0 0 rg BT 134.49 266.86 Td ( non-voting common stock for cancellation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 266.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 266.86 Td (\(4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 266.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 254.86 Td (Payments for employee taxes withheld related to vested share-based awards) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 254.86 Td (\(2,444) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 254.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 254.86 Td (\(2,203) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 254.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 242.86 Td (Increase in bank call loans, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 242.86 Td (29,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 242.86 Td (49,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 83.00 230.86 Td (Cash provided by financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 230.86 Td (25,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 230.86 Td (41,044) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 95.00 218.86 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 456.75 218.86 Td (\(5,439) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 218.86 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.75 218.86 Td (\(2,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.00 218.86 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 207.00 Td (Cash and cash equivalents, beginning of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 206.86 Td (48,154) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 206.86 Td (64,913) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 195.00 Td (Cash and cash equivalents, end of period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 194.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 194.86 Td (42,715) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 194.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 194.86 Td (62,421) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 183.00 Td (Schedule of non-cash financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 170.86 Td (Employee share plan issuance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 170.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.00 170.86 Td (37) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 170.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 170.86 Td (3,857) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 159.00 Td (Supplemental disclosur) Tj ET Q q 0 0 0 rg BT 142.60 159.00 Td (e of cash flow information) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 146.86 Td (Cash paid during the period for interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 146.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.25 146.86 Td (12,578) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 146.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.75 146.86 Td (2,023) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 134.86 Td (Cash paid during the period for income taxes, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.00 134.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 134.86 Td (100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.00 134.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 545.50 134.86 Td (503) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 114.10 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 85.50 683.10 Td (Organization and basis of pr) Tj ET Q q 0 0 0 rg BT 207.56 683.10 Td (esentation) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (Organization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Oppenheimer Holdings Inc. \("OPY" or the "Parent"\) incorporated under the laws of the State of Delaware. ) Tj ET Q q 0 0 0 rg BT 478.29 641.10 Td (The condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (consolidated financial statements include the accounts of OPY) Tj ET Q q 0 0 0 rg BT 299.33 629.10 Td ( and its consolidated subsidiaries \(together) Tj ET Q q 0 0 0 rg BT 469.17 629.10 Td (, the "Company"\). ) Tj ET Q q 0 0 0 rg BT 544.09 629.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (Company engages in a broad range of activities in the financial services industry) Tj ET Q q 0 0 0 rg BT 371.53 617.10 Td (, including retail securities brokerage, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (institutional sales and trading, market-making, research, investment banking \(both corporate and public finance\), investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (advisory and asset management services and trust services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (The Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.76 569.10 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.76 569.10 Td ( retail branch of) Tj ET Q q 0 0 0 rg BT 198.16 569.10 Td (fices in the United States and has institutional businesses located in London, ) Tj ET Q q 0 0 0 rg BT 505.98 569.10 Td (T) Tj ET Q q 0 0 0 rg BT 511.39 569.10 Td (el ) Tj ET Q q 0 0 0 rg BT 520.56 569.10 Td (A) Tj ET Q q 0 0 0 rg BT 527.04 569.10 Td (viv) Tj ET Q q 0 0 0 rg BT 539.17 569.10 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (Hong Kong. ) Tj ET Q q 0 0 0 rg BT 101.26 557.10 Td (The principal subsidiaries of OPY) Tj ET Q q 0 0 0 rg BT 237.53 557.10 Td ( are Oppenheimer& Co. Inc. \("Oppenheimer"\), a registered broker) Tj ET Q q 0 0 0 rg BT 505.39 557.10 Td (-dealer in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (securities and investment adviser under the Investment ) Tj ET Q q 0 0 0 rg BT 270.83 545.10 Td (Advisers ) Tj ET Q q 0 0 0 rg BT 308.33 545.10 Td (Act of 1940; Oppenheimer ) Tj ET Q q 0 0 0 rg BT 417.75 545.10 Td (Asset Management Inc. \("OAM"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (and its wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 179.11 533.10 Td (, Oppenheimer Investment Management LLC, both registered investment advisers under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 95.88 521.10 Td (Advisers ) Tj ET Q q 0 0 0 rg BT 133.38 521.10 Td (Act of 1940; Oppenheimer ) Tj ET Q q 0 0 0 rg BT 243.17 521.10 Td (T) Tj ET Q q 0 0 0 rg BT 248.93 521.10 Td (rust Company of Delaware \("Oppenheimer ) Tj ET Q q 0 0 0 rg BT 423.61 521.10 Td (T) Tj ET Q q 0 0 0 rg BT 429.36 521.10 Td (rust"\), a limited purpose trust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (company that provides fiduciary services such as trust and estate administration and investment management; OPY) Tj ET Q q 0 0 0 rg BT 510.12 509.10 Td ( Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (Corp., which of) Tj ET Q q 0 0 0 rg BT 112.09 497.10 Td (fers syndication as well as trading of issued corporate loans; Oppenheimer Europe Ltd., based in the United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (Kingdom, with of) Tj ET Q q 0 0 0 rg BT 120.71 485.10 Td (fices in the Isle of Jersey and Switzerland, which provides institutional equities and fixed income brokerage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (and corporate financial services and is regulated by the Financial Conduct ) Tj ET Q q 0 0 0 rg BT 347.45 473.10 Td (Authority; Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 498.82 473.10 Td (Asia Limited, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (based in Hong Kong, China, which provides fixed income and equities brokerage services to institutional investors and is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (regulated by the Securities and Futures Commission; and Oppenheimer Multifamily Housing& Healthcare Finance, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (\("OMHHF"\) which was formerly engaged in Federal Housing ) Tj ET Q q 0 0 0 rg BT 299.84 437.10 Td (Administration \("FHA"\)-insured commercial mortgage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (origination and servicing. During 2016, the Company sold substantially all of the assets of OMHHF and ceased its operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (Oppenheimer owns Freedom Investments, Inc. \("Freedom"\), a registered broker dealer in securities, which provides discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (brokerage services, and Oppenheimer Israel \(OPCO\) Ltd., which is engaged in of) Tj ET Q q 0 0 0 rg BT 375.33 389.10 Td (fering investment services in the State of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (Israel. Oppenheimer holds a trading permit on the New ) Tj ET Q q 0 0 0 rg BT 272.40 377.10 Td (Y) Tj ET Q q 0 0 0 rg BT 278.62 377.10 Td (ork Stock Exchange and is a member of several other regional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (exchanges in the United States.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (Basis of Presentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td (The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (regulations of the U.S. Securities and Exchange Commission \(the "SEC"\) regarding interim financial reporting. ) Tj ET Q q 0 0 0 rg BT 497.29 311.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 546.62 311.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (they do not include all of the information and notes required by accounting principles generally accepted in the United States of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (America \("U.S. GAAP"\) for complete financial statements and should be read in conjunction with the audited consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (financial statements and notes thereto included in the Company's ) Tj ET Q q 0 0 0 rg BT 310.96 275.10 Td (Annual Report on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 263.10 Td ( \(the "Form 10-K"\). ) Tj ET Q q 0 0 0 rg BT 209.67 263.10 Td (The accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.52 263.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.11 263.10 Td ( condensed consolidated balance sheet data was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (derived from the audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP) Tj ET Q q 0 0 0 rg BT 526.52 251.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (annual financial statement purposes. ) Tj ET Q q 0 0 0 rg BT 197.33 239.10 Td (The accompanying condensed consolidated financial statements reflect all adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (assumptions that af) Tj ET Q q 0 0 0 rg BT 126.53 203.10 Td (fect the amounts that are reported in the financial statements and the accompanying disclosures. ) Tj ET Q q 0 0 0 rg BT 511.68 203.10 Td (Although ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (these estimates are based on management's knowledge of current events and actions that the Company may undertake in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (future, actual results may dif) Tj ET Q q 0 0 0 rg BT 164.00 179.10 Td (fer materially from the estimates. ) Tj ET Q q 0 0 0 rg BT 299.32 179.10 Td (The condensed consolidated results of operations for the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.10 Td (month period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.98 167.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.58 167.10 Td ( are not necessarily indicative of the results to be expected for any future interim or annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.10 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.10 Td (Certain prior period amounts have been reclassified to conform to the current period presentation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.10 Td (Accounting standards require the Company to present non-controlling interests as a separate component of stockholders' equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (on the Company's condensed consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 279.57 95.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.02 95.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.62 95.10 Td (, the Company owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.88 95.10 Td (83.68%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.71 95.10 Td ( of OMHHF and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.10 Td (the non-controlling interest recorded on the condensed consolidated balance sheet was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.43 83.10 Td ($365,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.93 83.10 Td (.) Tj ET Q endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (2. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (New accounting pr) Tj ET Q q 0 0 0 rg BT 165.87 695.25 Td (onouncements) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (Recently Issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 143.46 653.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.37 653.25 Td (ASU 2016-02, "Leases." ) Tj ET Q q 0 0 0 rg BT 293.39 653.25 Td (The ) Tj ET Q q 0 0 0 rg BT 310.89 653.25 Td (ASU requires the recognition of a right-of use asset and lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (liability on the balance sheet by lessees for those leases classified as operating leases under previous guidance. ) Tj ET Q q 0 0 0 rg BT 494.17 641.25 Td (The ) Tj ET Q q 0 0 0 rg BT 511.67 641.25 Td (ASU is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 629.25 Td (fective for fiscal years beginning after December 15, 2018. ) Tj ET Q q 0 0 0 rg BT 295.42 629.25 Td (The Company is currently evaluating the impact of adopting this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (ASU which it expects will have a material impact on its condensed consolidated financial statements. Since the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (operating leases in over 100 locations, the Company expects to recognize a significant right-of use asset and lease liability on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (its condensed consolidated balance sheet upon adoption of this ) Tj ET Q q 0 0 0 rg BT 302.50 593.25 Td (ASU. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (In June 2016, the F) Tj ET Q q 0 0 0 rg BT 125.70 569.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 174.60 569.25 Td (ASU 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (F) Tj ET Q q 0 0 0 rg BT 54.32 557.25 Td (ASB's guidance on the impairment of financial instruments. ) Tj ET Q q 0 0 0 rg BT 296.17 557.25 Td (The ) Tj ET Q q 0 0 0 rg BT 313.67 557.25 Td (ASU adds to U.S. GAAP) Tj ET Q q 0 0 0 rg BT 414.42 557.25 Td ( an impairment model \("current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (expected credit loss model"\). Under this new guidance, an entity recognizes as an allowance its estimate of expected credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (losses. ) Tj ET Q q 0 0 0 rg BT 78.21 533.25 Td (The ) Tj ET Q q 0 0 0 rg BT 95.71 533.25 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 134.97 533.25 Td (fective for fiscal years beginning after December 15, 2019. ) Tj ET Q q 0 0 0 rg BT 373.30 533.25 Td (The Company is currently evaluating the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (impact, if any) Tj ET Q q 0 0 0 rg BT 104.11 521.25 Td (, that the ) Tj ET Q q 0 0 0 rg BT 140.77 521.25 Td (ASU will have on its condensed consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 138.46 497.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 187.37 497.25 Td (ASU 2017-04, "Intangibles - Goodwill and Other) Tj ET Q q 0 0 0 rg BT 384.63 497.25 Td (, Simplifying the ) Tj ET Q q 0 0 0 rg BT 454.45 497.25 Td (T) Tj ET Q q 0 0 0 rg BT 459.86 497.25 Td (est for Goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (Impairment," which simplifies the subsequent measurement of goodwill. ) Tj ET Q q 0 0 0 rg BT 342.79 485.25 Td (The Company is no longer required to perform its Step ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (2 goodwill impairment test; instead, the Company should perform its annual or interim goodwill impairment test by comparing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (the fair value of a reporting unit with its carrying amount. ) Tj ET Q q 0 0 0 rg BT 282.59 461.25 Td (The ) Tj ET Q q 0 0 0 rg BT 300.08 461.25 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 339.34 461.25 Td (fective for fiscal years beginning after December15, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (2019 and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 201.23 449.25 Td (The Company will not early adopt this ) Tj ET Q q 0 0 0 rg BT 357.60 449.25 Td (ASU. ) Tj ET Q q 0 0 0 rg BT 382.42 449.25 Td (The Company is currently evaluating the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (impact, if any) Tj ET Q q 0 0 0 rg BT 104.11 437.25 Td (, of the ) Tj ET Q q 0 0 0 rg BT 134.10 437.25 Td (ASU on the Company; the adoption of the ) Tj ET Q q 0 0 0 rg BT 305.20 437.25 Td (ASU is not currently expected to have a material impact on its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (condensed consolidated financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.25 Td (In ) Tj ET Q q 0 0 0 rg BT 59.78 401.25 Td (August 2017, the F) Tj ET Q q 0 0 0 rg BT 135.71 401.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 184.61 401.25 Td (ASU 2017-12, "T) Tj ET Q q 0 0 0 rg BT 254.93 401.25 Td (ar) Tj ET Q q 0 0 0 rg BT 262.52 401.25 Td (geted Improvements to ) Tj ET Q q 0 0 0 rg BT 356.67 401.25 Td (Accounting for Hedging ) Tj ET Q q 0 0 0 rg BT 456.37 401.25 Td (Activities," which amends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (the hedge accounting recognition and presentation requirements. ) Tj ET Q q 0 0 0 rg BT 310.34 389.25 Td (The ) Tj ET Q q 0 0 0 rg BT 327.83 389.25 Td (ASU improves the transparency and understandability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (information conveyed to financial statement users by better aligning companies' hedging relationship to their existing risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (management strategies, simplifies the application of hedge accounting and increases transparency regarding the scope and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (results of the hedging program. ) Tj ET Q q 0 0 0 rg BT 177.07 353.25 Td (The ) Tj ET Q q 0 0 0 rg BT 194.56 353.25 Td (ASU is ef) Tj ET Q q 0 0 0 rg BT 233.83 353.25 Td (fective for fiscal years beginning after December15, 2019 and early adoption is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 92.64 341.25 Td (The Company will not early adopt this ) Tj ET Q q 0 0 0 rg BT 249.01 341.25 Td (ASU. ) Tj ET Q q 0 0 0 rg BT 273.83 341.25 Td (The Company is currently evaluating the impact, if any) Tj ET Q q 0 0 0 rg BT 494.50 341.25 Td (, of the ) Tj ET Q q 0 0 0 rg BT 524.50 341.25 Td (ASU on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (the Company; the adoption of the ) Tj ET Q q 0 0 0 rg BT 185.59 329.25 Td (ASU is not currently expected to have a material impact on its condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td ( ) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 33.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 33.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (3. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Revenues fr) Tj ET Q q 0 0 0 rg BT 136.14 695.25 Td (om contracts with customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (In the first quarter of 2018, the Company adopted ) Tj ET Q q 0 0 0 rg BT 250.01 671.25 Td (ASU 2014-09, "Revenue from Contracts with Customers." ) Tj ET Q q 0 0 0 rg BT 487.13 671.25 Td (The Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (elected the modified retrospective method which did not result in a cumulative-ef) Tj ET Q q 0 0 0 rg BT 375.04 659.25 Td (fect adjustment at the date of adoption. ) Tj ET Q q 0 0 0 rg BT 533.14 659.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (implementation of this new standard had no material impact on the Company's condensed consolidated financial statements for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.03 635.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.63 635.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (transferring the promised goods or services to customers. ) Tj ET Q q 0 0 0 rg BT 280.28 599.25 Td (A) Tj ET Q q 0 0 0 rg BT 286.95 599.25 Td ( good or service is transferred to a customer when, or as, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.25 Td (customer obtains control of that good or service. ) Tj ET Q q 0 0 0 rg BT 245.29 587.25 Td (A) Tj ET Q q 0 0 0 rg BT 251.96 587.25 Td ( performance obligation may be satisfied over time or at a point in time. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.25 Td (the performance obligation in a manner that depicts the transfer of the goods or services to the customer) Tj ET Q q 0 0 0 rg BT 464.64 563.25 Td (. Revenue from a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (obtains control over the promised good or service. ) Tj ET Q q 0 0 0 rg BT 252.88 539.25 Td (The amount of revenue recognized reflects the consideration to which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.25 Td (Company expects to be entitled in exchange for those promised goods or services \(i.e., the "transaction price"\). In determining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (the transaction price, the Company considers multiple factors, including the ef) Tj ET Q q 0 0 0 rg BT 362.56 515.25 Td (fects of variable consideration. ) Tj ET Q q 0 0 0 rg BT 488.16 515.25 Td (V) Tj ET Q q 0 0 0 rg BT 494.28 515.25 Td (ariable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.25 Td (consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (cumulative revenue recognized will not occur when the uncertainties with respect to the amount are resolved. In determining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.25 Td (when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.25 Td (predictive value of our past experiences, the time period of when uncertainties expect to be resolved and the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.25 Td (consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.25 Td (actions of third parties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.25 Td (The Company earns revenue from contracts with customers and other sources \(principal transactions, interest and other\). ) Tj ET Q q 0 0 0 rg BT 534.71 419.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (following provides detailed information on the recognition of the Company's revenue from contracts with customers:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 383.25 Td (Commissions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (Commissions fr) Tj ET Q q 0 0 0 rg BT 111.64 365.25 Td (om Sales and T) Tj ET Q q 0 0 0 rg BT 172.48 365.25 Td (rading) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.15 365.25 Td ( ) Tj ET Q q 0 0 0 rg BT 213.97 365.25 Td (The Company earns commission revenue by executing, settling and clearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (transactions with clients primarily in exchange-traded and over) Tj ET Q q 0 0 0 rg BT 301.71 353.25 Td (-the-counter corporate equity and debt securities, money market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (instruments and exchange-traded options and futures contracts. ) Tj ET Q q 0 0 0 rg BT 303.87 341.25 Td (A) Tj ET Q q 0 0 0 rg BT 310.54 341.25 Td ( substantial portion of Company's revenue is derived from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (commissions from private clients through accounts with transaction-based pricing. ) Tj ET Q q 0 0 0 rg BT 382.02 329.25 Td (T) Tj ET Q q 0 0 0 rg BT 387.78 329.25 Td (rade execution and clearing services, when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (provided together) Tj ET Q q 0 0 0 rg BT 119.91 317.25 Td (, represent a single performance obligation as the services are not separately identifiable in the context of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (contract. Commission revenue associated with combined trade execution and clearing services, as well as trade execution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (services on a standalone basis, is recognized at a point in time on trade date when the performance obligation is satisfied. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (Commission revenue is generally paid on settlement date, which is generally two business days after trade date for equities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (securities and corporate bond transactions and one day for government securities and commodities transactions. ) Tj ET Q q 0 0 0 rg BT 498.90 269.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (records a receivable on the trade date and receives a payment on settlement date. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (Mutual Fund Income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.42 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 148.74 233.25 Td (The Company earns mutual fund income for sales and distribution of mutual fund shares. Many mutual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (fund companies pay distribution fees to intermediaries, such as broker) Tj ET Q q 0 0 0 rg BT 329.78 221.25 Td (-dealers, for selling their shares. ) Tj ET Q q 0 0 0 rg BT 460.38 221.25 Td (The fees are operational ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.25 Td (expenses of the mutual fund and are included in its expense ratio. ) Tj ET Q q 0 0 0 rg BT 313.41 209.25 Td (The Company recognizes mutual fund income at a point in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (time on trade date when the performance obligation is satisfied which is when the mutual fund interest is sold to the investor) Tj ET Q q 0 0 0 rg BT 546.88 197.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (Mutual fund income is generally received within 90 days.) Tj ET Q endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (12) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Advisory Fees) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 107.55 695.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The Company earns management and performance \(or incentive\) fees in connection with the advisory and asset management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (services it provides to various types of funds and investment vehicles through its subsidiaries. Management fees are generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (based on the account value at the valuation date per the respective asset management agreements and are recognized over time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (as the customer receives the benefits of the services evenly throughout the term of the contract. Performance fees are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (recognized when the return on client assets under management \("AUM"\) exceeds a specified benchmark return or other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (performance tar) Tj ET Q q 0 0 0 rg BT 112.89 617.25 Td (gets over a 12-month measurement period. Performance fees are considered variable as they are subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (fluctuation and/or are contingent on a future event over the measurement period and are not subject to adjustment once the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (measurement period ends. Such fees are computed as of the fund's year) Tj ET Q q 0 0 0 rg BT 334.33 593.25 Td (-end when the measurement period ends and generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (are recorded as earned in the fourth quarter of the Company's fiscal year) Tj ET Q q 0 0 0 rg BT 337.84 581.25 Td (. Both management and performance fees are generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (received within 90 days.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (Investment Banking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.25 Td (The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 515.25 Td (ferings, follow-on of) Tj ET Q q 0 0 0 rg BT 140.51 515.25 Td (ferings, equity-linked of) Tj ET Q q 0 0 0 rg BT 237.24 515.25 Td (ferings, private investments in public entities, and private placements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.25 Td (Underwriting revenues are recognized at a point in time on trade date, as the client obtains the control and benefit of the capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (markets of) Tj ET Q q 0 0 0 rg BT 91.80 491.25 Td (fering at that point. ) Tj ET Q q 0 0 0 rg BT 170.77 491.25 Td (These fees are generally received within 90 days after the transactions are completed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.26 479.25 Td (ransaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.25 Td (deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.25 Td (related expenses are presented gross on the condensed consolidated statement of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (Revenues from financial advisory services includes fees generated in connection with mer) Tj ET Q q 0 0 0 rg BT 410.02 431.25 Td (gers, acquisitions and restructuring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.25 Td (transactions and such revenues and fees are primarily recorded at a point in time when services for the transactions are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Payment for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.25 Td (advisory services is generally due upon a completion of the transaction or milestone. Retainer fees and fees earned from certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.25 Td (advisory services are recognized ratably over the service period as the customer receives the benefit of the services throughout ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.25 Td (the term of the contracts, and such fees are collected based on the terms of the contracts.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 347.25 Td (Bank Deposit Sweep Income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 167.56 347.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (Bank deposit sweep income consists of revenues earned from the FDIC-insured bank deposit program.Under this program, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (client funds are swept into deposit accounts at participating banks and are eligible for FDIC deposit insurance up to FDIC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (standard maximum deposit insurance amounts. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (13) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Disaggregation of Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The following presents the Company's revenue from contracts with customers disaggregated by major business activity and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (other sources of revenue for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.70 665.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 665.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 601.75 247.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 601.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 601.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 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rg BT 494.15 576.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 576.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 576.42 Td (72,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 561.42 Td (Mutual fund income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 561.42 Td (10,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 561.42 Td (283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 561.42 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 561.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 561.42 Td (1) Tj ET Q q 0 0 0 rg BT 535.65 561.42 Td (1,1) Tj ET Q q 0 0 0 rg BT 548.15 561.42 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 546.42 Td (Advisory fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 546.42 Td (60,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 546.42 Td (17,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 546.42 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 546.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 546.42 Td (77,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 531.42 Td (Investment banking - capital markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 531.42 Td (4,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 531.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 531.42 Td (14,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 531.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 531.42 Td (18,766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 516.42 Td (Investment banking - advisory) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 516.42 Td (9,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 516.42 Td (9,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 501.42 Td (Bank deposit sweep income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 501.42 Td (25,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 501.42 Td (25,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 486.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 486.42 Td (4,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 486.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.80 486.47 Td (\(25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 486.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.15 486.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 486.42 Td (4,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 471.42 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 471.42 Td (otal revenues from contracts with customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.60 471.42 Td (145,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 471.42 Td (17,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 471.42 Td (55,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 471.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 471.42 Td (218,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 456.42 Td (Other sources of revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 441.42 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 441.42 Td (8,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 441.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 441.42 Td (3,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 441.42 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 441.42 Td (12,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 426.42 Td (Principal transactions, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.80 426.47 Td (\(80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 426.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 426.42 Td (2,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 426.42 Td (414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 426.42 Td (2,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 411.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 411.42 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 411.42 Td (67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 411.42 Td (640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 411.42 Td (861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 396.42 Td (T) Tj ET Q q 0 0 0 rg BT 74.91 396.42 Td (otal other sources of revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 396.42 Td (8,91) Tj ET Q q 0 0 0 rg BT 337.15 396.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 396.42 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 396.42 Td (5,664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 396.42 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 396.42 Td (15,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 381.42 Td (T) Tj ET Q q 0 0 0 rg BT 56.91 381.42 Td (otal revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.60 381.42 Td (154,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 381.42 Td (17,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 381.42 Td (61,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 381.42 Td (1,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.60 381.42 Td (234,530) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (Contract Balances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.25 Td (The timing of the Company's revenue recognition may dif) Tj ET Q q 0 0 0 rg BT 281.62 335.25 Td (fer from the timing of payment by its customers. ) Tj ET Q q 0 0 0 rg BT 478.06 335.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.25 Td (records receivables when revenue is recognized prior to payment and it has an unconditional right to payment. ) Tj ET Q q 0 0 0 rg BT 492.69 323.25 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 544.80 323.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (when payment precedes the provision of the related services, the Company records deferred revenue until the performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.25 Td (obligations are satisfied.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.25 Td (The Company had receivables related to revenue from contracts with customers of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.16 275.25 Td ($24.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.05 275.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.49 275.25 Td ($18.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.38 275.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 263.25 Td ( and January 1, 2018, respectively) Tj ET Q q 0 0 0 rg BT 248.80 263.25 Td (. ) Tj ET Q q 0 0 0 rg BT 253.62 263.25 Td (The Company had no significant impairments related to these receivables ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.25 Td (during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.64 251.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.23 251.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.25 Td (Deferred revenue primarily relates to IRA) Tj ET Q q 0 0 0 rg BT 216.93 227.25 Td ( fees received annually in advance on customer's IRA) Tj ET Q q 0 0 0 rg BT 430.87 227.25 Td ( accounts managed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (Company where the performance obligation has not yet been satisfied. Deferred revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.36 215.25 Td ($2.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.25 215.25 Td ( and $) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.69 215.25 Td (nil) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 215.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.46 215.25 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 203.25 Td ( and January 1, 2018, respectively) Tj ET Q q 0 0 0 rg BT 205.20 203.25 Td (. ) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (included in other assets and other liabilities, respectively) Tj ET Q q 0 0 0 rg BT 275.45 683.10 Td (, on the condensed consolidated balance sheet:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 632.60 365.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 632.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 632.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 602.60 365.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 602.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 602.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 572.60 365.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 572.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 572.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.60 365.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 542.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 542.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 512.60 365.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 512.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 512.60 70.00 -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 419 632.6 m 489 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 632.6 m 563 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 542.6 m 489 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 542.6 m 563 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 542.6 m 489 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 528.6 m 489 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 526.6 m 489 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 542.6 m 563 542.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 528.6 m 563 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 526.6 m 563 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 498.6 m 489 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 496.6 m 489 496.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 498.6 m 563 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 496.6 m 563 496.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 657.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 657.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.05 644.85 Td (Ending Balance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.15 636.85 Td (at March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.80 644.85 Td (Opening Balance ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.15 636.85 Td (at January 1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 622.27 Td (Contract assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 607.27 Td (Commission ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 123.57 611.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 607.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 607.27 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 607.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 607.27 Td (2,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 592.27 Td (Mutual fund income ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 154.65 596.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 592.27 Td (7,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 592.27 Td (7,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 577.27 Td (Advisory fees ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 128.82 581.80 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 577.27 Td (821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 577.27 Td (1,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 562.27 Td (Bank deposit sweep income ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 184.92 566.80 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 562.27 Td (4,477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 562.27 Td (3,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 547.27 Td (Investment banking fees ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 170.75 551.80 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 547.27 Td (8,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 547.27 Td (3,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 532.27 Td ( ) Tj ET Q q 0 0 0 rg BT 69.32 532.27 Td (T) Tj ET Q q 0 0 0 rg BT 74.73 532.27 Td (otal contract assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 532.27 Td (24,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 532.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 532.27 Td (18,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 517.27 Td (Deferred income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 502.27 Td (IRA) Tj ET Q q 0 0 0 rg BT 87.17 502.27 Td ( fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 502.27 Td (2,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 502.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 502.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 480.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 480.10 Td (Commission recorded on trade date but not yet settled.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 468.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 468.10 Td (Mutual fund income earned but not yet received.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 456.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 456.10 Td (Management and performance fees earned but not yet received.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 444.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 444.10 Td (Fees earned from FDIC-insured bank deposit program but not yet received.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 432.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 432.10 Td (Underwriting revenue and advisory fee earned but not yet received.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 408.10 Td (Contract Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.10 Td (The Company incurs incremental transaction-related costs to obtain and/or fulfill contracts associated with investment banking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.10 Td (and advisory engagements where the revenue is recognized at a point in time and the costs are determined to be recoverable. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.10 Td (For the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.42 366.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.02 366.10 Td (, the contract costs were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.87 366.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.76 366.10 Td (. ) Tj ET Q q 0 0 0 rg BT 377.58 366.10 Td (There were no significant char) Tj ET Q q 0 0 0 rg BT 499.56 366.10 Td (ges recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td (in relation to these costs for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.33 354.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.93 354.10 Td (.) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 141.16 695.25 Td ( shar) Tj ET Q q 0 0 0 rg BT 162.37 695.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (average number of shares of Class ) Tj ET Q q 0 0 0 rg BT 188.90 659.25 Td (A) Tj ET Q q 0 0 0 rg BT 195.57 659.25 Td ( non-voting common stock \("Class ) Tj ET Q q 0 0 0 rg BT 336.59 659.25 Td (A) Tj ET Q q 0 0 0 rg BT 343.26 659.25 Td ( Stock"\) and Class B voting common stock \("Class B ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (Stock"\) outstanding. Diluted earnings per share includes the weighted average number of shares of Class) Tj ET Q q 0 0 0 rg BT 470.69 647.25 Td (A) Tj ET Q q 0 0 0 rg BT 477.36 647.25 Td ( Stock and Class B ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (Stock outstanding and options to purchase Class) Tj ET Q q 0 0 0 rg BT 244.76 635.25 Td (A) Tj ET Q q 0 0 0 rg BT 251.43 635.25 Td ( Stock and unvested restricted stock awards of Class) Tj ET Q q 0 0 0 rg BT 462.78 635.25 Td (A) Tj ET Q q 0 0 0 rg BT 469.45 635.25 Td ( Stock using the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.25 Td (treasury stock method.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (Earnings per share have been calculated as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 543.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 543.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 543.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 543.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 513.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 513.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 513.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 513.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 483.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 483.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 483.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 483.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 453.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 453.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 453.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 453.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 423.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 423.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 423.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 423.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 393.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 393.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 393.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 393.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 363.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 363.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 363.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 363.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 333.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 333.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 333.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 303.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 303.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 303.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 303.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 273.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 273.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 273.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 273.75 75.00 -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 409 556.75 m 484 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 556.75 m 488 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 556.75 m 563 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 556.75 m 484 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 543.75 m 484 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 556.75 m 563 556.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 543.75 m 563 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 543.75 m 484 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 543.75 m 563 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 513.75 m 484 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 513.75 m 563 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 513.75 m 484 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 499.75 m 484 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 497.75 m 484 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 499.75 m 563 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 497.75 m 563 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 497.75 m 484 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 499.75 m 484 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 497.75 m 563 497.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 499.75 m 563 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 453.75 m 484 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 453.75 m 563 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 453.75 m 563 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 423.75 m 484 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 423.75 m 563 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 409.75 m 484 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 407.75 m 484 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 423.75 m 563 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 409.75 m 563 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 407.75 m 563 407.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 348.75 m 484 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 334.75 m 484 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 332.75 m 484 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 348.75 m 563 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 334.75 m 563 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 332.75 m 563 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 273.75 m 484 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 273.75 m 484 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 259.75 m 484 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 257.75 m 484 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 273.75 m 563 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 259.75 m 563 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 257.75 m 563 257.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 574.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 574.00 Td (essed in thousands, except number of shar) Tj ET Q q 0 0 0 rg BT 205.44 574.00 Td (es and per shar) Tj ET Q q 0 0 0 rg BT 254.70 574.00 Td (e amounts\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.50 574.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 574.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 561.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.90 561.00 Td (For the ) Tj ET Q q 0 0 0 rg BT 446.71 561.00 Td (Three Months Ended March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 548.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.00 548.00 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.00 548.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.32 Td (Basic weighted average number of shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 533.42 Td (13,239,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 533.42 Td (13,399,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 518.42 Td (Net dilutive ef) Tj ET Q q 0 0 0 rg BT 110.08 518.42 Td (fect of share-based awards, treasury method ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 288.61 522.49 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 518.42 Td (737,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 518.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 504.32 Td (Diluted weighted average number of shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 503.42 Td (13,977,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 503.42 Td (13,399,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 474.32 Td (Net income \(loss\) from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 473.42 Td (6,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 473.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 473.47 Td (\(5,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 473.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 459.32 Td (Net income from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 458.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 458.42 Td (587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 444.32 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 443.42 Td (6,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 443.47 Td (\(4,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 443.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 429.32 Td (Less net income attributable to non-controlling interest, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 428.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 428.42 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 414.32 Td (Net income \(loss\) attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 413.42 Td (6,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 413.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 413.47 Td (\(4,847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 413.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 384.32 Td (Basic net income \(loss\) per share attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 369.32 Td (Continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 368.42 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 368.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 368.47 Td (\(0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 354.32 Td (Discontinued operations ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 170.48 358.85 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 353.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 353.42 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 339.32 Td (Net income \(loss\) per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 338.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 338.42 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 338.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 338.47 Td (\(0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 338.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 309.32 Td (Diluted net income \(loss\) per share attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 294.32 Td (Continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 293.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 293.42 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 293.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 293.47 Td (\(0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 293.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 279.32 Td (Discontinued operations ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 170.48 283.85 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 278.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 278.42 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 264.32 Td (Net income \(loss\) per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 263.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 263.42 Td (0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 263.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.30 263.47 Td (\(0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 263.42 Td (\)) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 259.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 241.25 Td (For the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.42 241.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.02 241.25 Td (, the diluted earnings per share computation does not include the anti-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 229.25 Td (dilutive ef) Tj ET Q q 0 0 0 rg BT 126.14 229.25 Td (fect of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.46 229.25 Td (4,050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.96 229.25 Td ( shares of Class) Tj ET Q q 0 0 0 rg BT 241.39 229.25 Td (A) Tj ET Q q 0 0 0 rg BT 248.06 229.25 Td ( Stock granted under share-based compensation arrangements \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.03 229.25 Td (1,334,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.03 229.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 217.25 Td (shares for the three months ended March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.28 217.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.28 217.25 Td ( \).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 205.25 Td (Represents net income from discontinued operations less net income attributable to non-controlling interest, net of tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 193.25 Td (divided by weighted average number of shares outstanding.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Receivable fr) Tj ET Q q 0 0 0 rg BT 141.68 695.25 Td (om and payable to br) Tj ET Q q 0 0 0 rg BT 232.62 695.25 Td (okers, dealers and clearing organizations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 639.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 639.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 609.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 609.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 579.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 579.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 579.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 549.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 549.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 549.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 549.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 519.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 519.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 519.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 519.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 489.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 489.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 489.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 489.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 459.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 459.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 459.75 75.00 -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 409 652.75 m 484 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 652.75 m 488 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 652.75 m 563 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 652.75 m 484 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 639.75 m 484 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 652.75 m 563 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 639.75 m 563 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 549.75 m 484 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 549.75 m 563 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 535.75 m 484 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 533.75 m 484 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 535.75 m 563 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 533.75 m 563 533.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 459.75 m 484 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 459.75 m 563 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 445.75 m 484 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 443.75 m 484 443.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 445.75 m 563 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 443.75 m 563 443.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 670.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 670.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 657.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.70 657.00 Td (As of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.55 644.00 Td (March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.55 644.00 Td (December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 630.32 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 247.04 630.32 Td (ganizations consists of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 615.32 Td (Securities borrowed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 614.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 614.42 Td (1) Tj ET Q q 0 0 0 rg BT 452.65 614.42 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 614.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 614.42 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 600.32 Td (Receivable from brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 599.42 Td (15,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 599.42 Td (19,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 585.32 Td (Securities failed to deliver) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 584.42 Td (16,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 584.42 Td (9,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 570.32 Td (Clearing or) Tj ET Q q 0 0 0 rg BT 115.67 570.32 Td (ganizations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 569.42 Td (24,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 569.42 Td (24,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 555.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 554.42 Td (2,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 554.42 Td (1,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 540.32 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 540.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 539.42 Td (171,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 539.42 Td (187,1) Tj ET Q q 0 0 0 rg BT 549.15 539.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 525.32 Td (Payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 222.53 525.32 Td (ganizations consists of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 510.32 Td (Securities loaned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 509.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 509.42 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 509.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 509.42 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 495.32 Td (Payable to brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 494.42 Td (3,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 494.42 Td (1,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 480.32 Td (Securities failed to receive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 479.42 Td (23,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 479.42 Td (17,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 465.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 464.42 Td (53,477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 464.42 Td (12,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 450.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 450.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 449.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 449.42 Td (255,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 449.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 449.42 Td (21) Tj ET Q q 0 0 0 rg BT 536.65 449.42 Td (1,483) Tj ET Q BT /F1 18.00 Tf ET q 0 0 0 rg BT 564.50 445.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 418.85 Td (6. ) Tj ET Q q 0 0 0 rg BT 85.50 418.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 103.64 418.85 Td ( value measur) Tj ET Q q 0 0 0 rg BT 162.90 418.85 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.85 Td (Securities owned, securities sold but not yet purchased, investments and derivative contracts are carried at fair value with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 382.85 Td (changes in fair value recognized in earnings each period.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 358.85 Td (V) Tj ET Q q 0 0 0 rg BT 55.06 358.85 Td (aluation T) Tj ET Q q 0 0 0 rg BT 97.21 358.85 Td (echniques) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 340.85 Td ( description of the valuation techniques applied and inputs used in measuring the fair value of the Company's financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.85 Td (instruments is as follows:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 304.85 Td (U.S. Government Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 286.85 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 69.60 286.85 Td (T) Tj ET Q q 0 0 0 rg BT 75.36 286.85 Td (reasury securities are valued using quoted market prices obtained from active market makers and inter) Tj ET Q q 0 0 0 rg BT 483.89 286.85 Td (-dealer brokers.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 262.85 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 69.04 262.85 Td (Agency Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.85 Td (U.S. agency securities consist of agency issued debt securities and mortgage pass-through securities. Non-callable agency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.85 Td (issued debt securities are generally valued using quoted market prices. Callable agency issued debt securities are valued by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.85 Td (benchmarking model-derived prices to quoted market prices and trade data for identical or comparable securities. ) Tj ET Q q 0 0 0 rg BT 505.25 220.85 Td (The fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.85 Td (of mortgage pass-through securities are model driven with respect to spreads of the comparable to-be-announced \("TBA"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (security) Tj ET Q q 0 0 0 rg BT 80.51 196.85 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 172.85 Td (Sover) Tj ET Q q 0 0 0 rg BT 71.90 172.85 Td (eign Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.85 Td (The fair value of sovereign obligations is determined based on quoted market prices when available or a valuation model that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.85 Td (generally utilizes interest rate yield curves and credit spreads as inputs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 118.85 Td (Corporate Debt and Other Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.85 Td (The fair value of corporate bonds is estimated using recent transactions, broker quotations and bond spread information.) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (Mortgage and Other ) Tj ET Q q 0 0 0 rg BT 134.59 695.10 Td (Asset-Backed Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (The Company values non-agency securities collateralized by home equity and various other types of collateral based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (external pricing and spread data provided by independent pricing services. ) Tj ET Q q 0 0 0 rg BT 349.49 665.10 Td (When specific external pricing is not observable, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (valuation is based on yields and spreads for comparable bonds.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Municipal Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (The fair value of municipal obligations is estimated using recently executed transactions, broker quotations, and bond spread ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (information.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (Convertible Bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (The fair value of convertible bonds is estimated using recently executed transactions and dollar) Tj ET Q q 0 0 0 rg BT 430.00 557.10 Td (-neutral price quotations, where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (observable. ) Tj ET Q q 0 0 0 rg BT 97.63 545.10 Td (When observable price quotations are not available, fair value is determined based on cash flow models using yield ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (curves and bond spreads as key inputs.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (Corporate Equities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (Equity securities and options are generally valued based on quoted prices from the exchange or market where traded. ) Tj ET Q q 0 0 0 rg BT 519.98 491.10 Td (T) Tj ET Q q 0 0 0 rg BT 525.39 491.10 Td (o the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (extent quoted prices are not available, fair values are generally derived using bid/ask spreads.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (Auction Rate Securities \("ARS"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (In February 2010, Oppenheimer finalized settlements with each of the New ) Tj ET Q q 0 0 0 rg BT 353.47 437.10 Td (Y) Tj ET Q q 0 0 0 rg BT 359.70 437.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 374.97 437.10 Td (Attorney General's of) Tj ET Q q 0 0 0 rg BT 461.01 437.10 Td (fice \("NY) Tj ET Q q 0 0 0 rg BT 499.24 437.10 Td (AG"\) and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (Massachusetts Securities Division \("MSD" and, together with the NY) Tj ET Q q 0 0 0 rg BT 327.35 425.10 Td (AG, the "Regulators"\) concluding investigations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (administrative proceedings by the Regulators concerning Oppenheimer's marketing and sale of ) Tj ET Q q 0 0 0 rg BT 430.91 413.10 Td (ARS. Pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (settlements with the Regulators, Oppenheimer agreed to extend of) Tj ET Q q 0 0 0 rg BT 313.96 401.10 Td (fers to repurchase ) Tj ET Q q 0 0 0 rg BT 386.99 401.10 Td (ARS from certain of its clients subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (certain terms and conditions more fully described below) Tj ET Q q 0 0 0 rg BT 274.06 389.10 Td (. ) Tj ET Q q 0 0 0 rg BT 278.51 389.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.95 389.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.55 389.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.59 389.10 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.48 389.10 Td ( in outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (ARS purchase commitments related to the settlements with the Regulators. In addition to the settlements with the Regulators, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (Oppenheimer has also reached settlements of and received adverse awards in legal proceedings with various clients where the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (Company is obligated to purchase ) Tj ET Q q 0 0 0 rg BT 187.53 353.10 Td (ARS. Pursuant to completed Purchase Of) Tj ET Q q 0 0 0 rg BT 352.88 353.10 Td (fers \(as defined\) under the settlements with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (Regulators and client-related legal settlements and awards to purchase ) Tj ET Q q 0 0 0 rg BT 332.45 341.10 Td (ARS, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.57 341.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.17 341.10 Td (, the Company purchased and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (holds \(net of redemptions\) approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.07 329.10 Td ($88.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.96 329.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 284.19 329.10 Td (ARS from its clients. In addition, the Company is committed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (purchase another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.02 317.10 Td ($1) Tj ET Q q 0 0 0 rg BT 129.65 317.10 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.54 317.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 185.77 317.10 Td (ARS from clients through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.87 317.10 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.87 317.10 Td ( under legal settlements and awards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.00 293.10 Td (ARS positions that the Company owns and is committed to purchase primarily represent auction rate preferred securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (issued by closed-end funds and, to a lesser extent, municipal auction rate securities that are municipal bonds wrapped by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (municipal bond insurance and student loan auction rate securities that are asset-backed securities backed by student loans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (Interest rates on ) Tj ET Q q 0 0 0 rg BT 115.31 245.10 Td (ARS typically reset through periodic auctions. Due to the auction mechanism and generally liquid markets, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (ARS have historically been classified as Level 1 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 348.74 233.10 Td (.Beginning in February 2008, uncertainties in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (credit markets resulted in substantially all of the ) Tj ET Q q 0 0 0 rg BT 243.89 221.10 Td (ARS market experiencing failed auctions.Once the auctions failed, the ) Tj ET Q q 0 0 0 rg BT 529.91 221.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (could no longer be valued using observable prices set in the auctions.) Tj ET Q q 0 0 0 rg BT 328.97 209.10 Td (The Company has used less observable determinants of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (the fair value of ) Tj ET Q q 0 0 0 rg BT 115.03 197.10 Td (ARS, including the strength in the underlying credits, announced issuer redemptions, completed issuer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (redemptions, and announcements from issuers regarding their intentions with respect to their outstanding ) Tj ET Q q 0 0 0 rg BT 471.63 185.10 Td (ARS. ) Tj ET Q q 0 0 0 rg BT 495.90 185.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (has also developed an internal methodology to discount for the lack of liquidity and non-performance risk of the failed auctions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (Due to liquidity problems associated with the ) Tj ET Q q 0 0 0 rg BT 233.08 161.10 Td (ARS market, ) Tj ET Q q 0 0 0 rg BT 287.25 161.10 Td (ARS that lack liquidity are setting their interest rates according to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (maximum rate formula. For example, an auction rate preferred security maximum rate may be set at 200% of a short-term index ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (such as LIBOR or U.S. ) Tj ET Q q 0 0 0 rg BT 144.59 137.10 Td (T) Tj ET Q q 0 0 0 rg BT 150.35 137.10 Td (reasury yield. For fair value purposes, the Company has determined that the maximum spread would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (be an adequate risk premium to account for illiquidity in the market. ) Tj ET Q q 0 0 0 rg BT 324.70 125.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 374.04 125.10 Td (, the Company applies a spread to the short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (term index for each asset class to derive the discount rate. ) Tj ET Q q 0 0 0 rg BT 282.57 113.10 Td (The Company uses short-term U.S. ) Tj ET Q q 0 0 0 rg BT 425.98 113.10 Td (T) Tj ET Q q 0 0 0 rg BT 431.74 113.10 Td (reasury yields as its benchmark ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (short-term index. ) Tj ET Q q 0 0 0 rg BT 120.69 101.10 Td (The risk of non-performance is typically reflected in the prices of ) Tj ET Q q 0 0 0 rg BT 384.20 101.10 Td (ARS positions where the fair value is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (derived from recent trades in the secondary market.) Tj ET Q endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.00 695.10 Td (ARS purchase commitment, or derivative asset or liability) Tj ET Q q 0 0 0 rg BT 299.07 695.10 Td (, arises from both the settlements with the Regulators and legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (settlements and awards. ) Tj ET Q q 0 0 0 rg BT 147.07 683.10 Td (The ) Tj ET Q q 0 0 0 rg BT 164.56 683.10 Td (ARS purchase commitment represents the dif) Tj ET Q q 0 0 0 rg BT 346.28 683.10 Td (ference between the principal value and the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (of the ) Tj ET Q q 0 0 0 rg BT 74.50 671.10 Td (ARS the Company is committed to purchase. ) Tj ET Q q 0 0 0 rg BT 257.63 671.10 Td (The Company utilizes the same valuation methodology for the ) Tj ET Q q 0 0 0 rg BT 509.51 671.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (purchase commitment as it does for the ) Tj ET Q q 0 0 0 rg BT 208.63 659.10 Td (ARS it owns. ) Tj ET Q q 0 0 0 rg BT 264.20 659.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 314.10 659.10 Td (, the present value of the future principal value of ) Tj ET Q q 0 0 0 rg BT 513.75 659.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.10 Td (purchase commitments under legal settlements and awards is used in the discounted valuation model to reflect the time value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (money over the period of time that the commitments are outstanding. ) Tj ET Q q 0 0 0 rg BT 328.69 635.10 Td (The amount of the ) Tj ET Q q 0 0 0 rg BT 404.23 635.10 Td (ARS purchase commitment only ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (becomes determinable once the Company has met with its primary regulator and the NY) Tj ET Q q 0 0 0 rg BT 402.45 623.10 Td (AG and agreed upon a buyback ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (amount, commenced the ) Tj ET Q q 0 0 0 rg BT 149.47 611.10 Td (ARS buyback of) Tj ET Q q 0 0 0 rg BT 215.95 611.10 Td (fer to clients, and received notice from its clients which ) Tj ET Q q 0 0 0 rg BT 440.04 611.10 Td (ARS they are tendering. ) Tj ET Q q 0 0 0 rg BT 538.63 611.10 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (result, it is not possible to observe the current yields actually paid on the ) Tj ET Q q 0 0 0 rg BT 340.83 599.10 Td (ARS until all of these events have happened which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (typically very close to the time that the Company actually purchases the ) Tj ET Q q 0 0 0 rg BT 339.42 587.10 Td (ARS. For ) Tj ET Q q 0 0 0 rg BT 379.71 587.10 Td (ARS purchase commitments pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (legal settlements and awards, the criteria for purchasing ) Tj ET Q q 0 0 0 rg BT 274.70 575.10 Td (ARS from clients is based on the nature of the settlement or award ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (which will stipulate a time period and amount for each repurchase. ) Tj ET Q q 0 0 0 rg BT 318.67 563.10 Td (The Company will not know which ) Tj ET Q q 0 0 0 rg BT 462.55 563.10 Td (ARS will be tendered by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.10 Td (the client until the stipulated time for repurchase is reached. ) Tj ET Q q 0 0 0 rg BT 291.17 551.10 Td (Therefore, the Company uses the current yields of ) Tj ET Q q 0 0 0 rg BT 493.61 551.10 Td (ARS owned in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.10 Td (its discounted valuation model to determine a fair value of ) Tj ET Q q 0 0 0 rg BT 284.99 539.10 Td (ARS purchase commitments. ) Tj ET Q q 0 0 0 rg BT 404.24 539.10 Td (The Company also uses these current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.10 Td (yields by asset class \(i.e., auction rate preferred securities, municipal auction rate securities, and student loan auction rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.10 Td (securities\) in its discounted valuation model to determine the fair value of ) Tj ET Q q 0 0 0 rg BT 346.64 515.10 Td (ARS purchase commitments. In addition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td (Company uses the discount rate and duration of ) Tj ET Q q 0 0 0 rg BT 242.24 503.10 Td (ARS owned, by asset class, as a proxy for the duration of ) Tj ET Q q 0 0 0 rg BT 473.31 503.10 Td (ARS purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (commitments.) Tj ET Q endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (Additional information regarding the valuation technique and inputs for ) Tj ET Q q 0 0 0 rg BT 338.60 695.10 Td (ARS used is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 631.60 513.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 594.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 594.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 594.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 594.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 594.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 594.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 594.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 594.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 594.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.60 111.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 566.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 566.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 566.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 566.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 566.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 566.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 566.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 566.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 529.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 529.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 529.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 529.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 529.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 529.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 529.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 529.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 529.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 492.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 492.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 492.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 492.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 492.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 492.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 492.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 492.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 464.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 464.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 464.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 464.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 464.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 464.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 464.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 464.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 464.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.60 111.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 436.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 436.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 436.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 436.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 436.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 436.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 436.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 436.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 399.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 399.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 399.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 399.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 399.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 399.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 399.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 399.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 399.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 362.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 362.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 362.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 362.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 362.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 362.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 362.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 362.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 362.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 334.60 111.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 334.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 334.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 334.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 334.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 334.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 334.60 67.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 334.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 334.60 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 297.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 297.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 297.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 297.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 297.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 297.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 297.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 297.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 297.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 269.60 111.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 161.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 269.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 269.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 269.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 269.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 269.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 269.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 269.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 269.60 48.00 -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 50 652.6 m 161 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 161 652.6 m 165 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 652.6 m 213 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 652.6 m 217 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 652.6 m 265 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 652.6 m 269 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 652.6 m 317 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 652.6 m 321 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 652.6 m 369 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369 652.6 m 373 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 652.6 m 440 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 652.6 m 444 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 652.6 m 511 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 652.6 m 515 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 652.6 m 563 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 631.6 m 161 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 631.6 m 213 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 631.6 m 265 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 631.6 m 317 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 631.6 m 369 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 631.6 m 440 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 631.6 m 511 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 631.6 m 563 631.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 464.6 m 213 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 464.6 m 265 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 464.6 m 317 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 450.6 m 213 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 450.6 m 265 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 450.6 m 317 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 283.6 m 213 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 269.6 m 213 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 283.6 m 265 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 269.6 m 265 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 283.6 m 317 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 269.6 m 317 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 256.6 m 213 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 165 254.60000000000002 m 213 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 256.6 m 265 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 254.60000000000002 m 265 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 256.6 m 317 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 254.60000000000002 m 317 254.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 669.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 669.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.65 656.85 Td (Quantitative Information about ) Tj ET Q q 0 0 0 rg BT 258.96 656.85 Td (ARS Level 3 Fair ) Tj ET Q q 0 0 0 rg BT 317.32 656.85 Td (V) Tj ET Q q 0 0 0 rg BT 322.59 656.85 Td (alue Measurements as of March31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 635.85 Td (Product) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 174.05 635.85 Td (Principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.15 643.85 Td (V) Tj ET Q q 0 0 0 rg BT 230.04 643.85 Td (aluation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.80 635.85 Td (Adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 286.05 643.85 Td (Fair) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.35 635.85 Td (V) Tj ET Q q 0 0 0 rg BT 288.24 635.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.15 643.85 Td (V) Tj ET Q q 0 0 0 rg BT 334.04 643.85 Td (aluation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 327.85 635.85 Td (T) Tj ET Q q 0 0 0 rg BT 332.18 635.85 Td (echnique) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.75 643.85 Td (Unobservable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.55 635.85 Td (Input) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.75 635.85 Td (Range) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.25 643.85 Td (W) Tj ET Q q 0 0 0 rg BT 530.16 643.85 Td (eighted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.25 635.85 Td (A) Tj ET Q q 0 0 0 rg BT 530.43 635.85 Td (verage) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 622.05 Td (Auction Rate Securities Owned ) Tj ET Q BT /F4 9.00 Tf ET BT /F4 5.85 Tf ET q 0 0 0 rg BT 170.51 626.13 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 608.86 Td (Auction Rate Preferred) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 599.86 Td (Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 167.50 608.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.75 608.86 Td (87,950) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.50 608.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.25 608.86 Td (1,158) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 608.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 608.86 Td (86,792) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 608.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 599.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 608.86 Td (DiscountRate) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 612.94 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 608.86 Td (2.56% to 3.49%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 608.86 Td (3.05%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 585.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.35 585.86 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 473.68 585.86 Td (Y) Tj ET Q q 0 0 0 rg BT 479.56 585.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.85 585.86 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 535.18 585.86 Td (Y) Tj ET Q q 0 0 0 rg BT 541.06 585.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 571.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 571.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 571.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 575.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 571.86 Td (2.15% to 2.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 571.86 Td (2.49%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 557.86 Td (Municipal ) Tj ET Q q 0 0 0 rg BT 109.49 557.86 Td (Auction Rate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 548.86 Td (Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.00 557.86 Td (300) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 252.50 557.86 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 557.86 Td (290) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 557.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 548.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 557.86 Td (Discount Rate ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 561.94 Td (\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 557.86 Td (4.17%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 557.86 Td (4.17%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 534.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.70 534.86 Td (3 ) Tj ET Q q 0 0 0 rg BT 470.28 534.86 Td (Y) Tj ET Q q 0 0 0 rg BT 476.16 534.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 525.20 534.86 Td (3 ) Tj ET Q q 0 0 0 rg BT 531.78 534.86 Td (Y) Tj ET Q q 0 0 0 rg BT 537.66 534.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 520.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 520.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 520.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 524.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 520.86 Td (3.00%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 520.86 Td (3.00%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 506.86 Td (Student Loan ) Tj ET Q q 0 0 0 rg BT 120.74 506.86 Td (Auction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 497.86 Td (Rate Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.00 506.86 Td (275) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 506.86 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.00 506.86 Td (268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 506.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 497.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 506.86 Td (Discount Rate ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 510.94 Td (\(5\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 506.86 Td (3.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 506.86 Td (3.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 483.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.35 483.86 Td (5.5 ) Tj ET Q q 0 0 0 rg BT 473.68 483.86 Td (Y) Tj ET Q q 0 0 0 rg BT 479.56 483.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.85 483.86 Td (5.5 ) Tj ET Q q 0 0 0 rg BT 535.18 483.86 Td (Y) Tj ET Q q 0 0 0 rg BT 541.06 483.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 469.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 469.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 469.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 473.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 469.86 Td (3.23%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 469.86 Td (3.23%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 167.50 455.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.75 455.06 Td (88,525) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.50 455.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.25 455.06 Td (1,175) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 455.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 455.06 Td (87,350) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 441.05 Td (Auction Rate Securities Commitments to Purchase ) Tj ET Q BT /F4 9.00 Tf ET BT /F4 5.85 Tf ET q 0 0 0 rg BT 242.52 445.13 Td (\(6\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 427.86 Td (Auction Rate Preferred) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 418.86 Td (Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 167.50 427.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.75 427.86 Td (15,974) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.50 427.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.00 427.86 Td (181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 427.86 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 427.86 Td (15,793) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 427.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 418.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 427.86 Td (Discount Rate ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 431.94 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 427.86 Td (2.56% to 3.49%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 427.86 Td (3.05%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 404.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.35 404.86 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 473.68 404.86 Td (Y) Tj ET Q q 0 0 0 rg BT 479.56 404.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.85 404.86 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 535.18 404.86 Td (Y) Tj ET Q q 0 0 0 rg BT 541.06 404.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 390.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 390.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 390.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 394.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 448.00 390.86 Td (2.15% to 2.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 390.86 Td (2.49%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 376.86 Td (Municipal ) Tj ET Q q 0 0 0 rg BT 109.49 376.86 Td (Auction Rate) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 367.86 Td (Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.50 376.86 Td (27) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 376.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.50 376.86 Td (26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 376.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 367.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 376.86 Td (Discount Rate ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 380.94 Td (\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 376.86 Td (4.17%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 376.86 Td (4.17%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 353.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 463.70 353.86 Td (3 ) Tj ET Q q 0 0 0 rg BT 470.28 353.86 Td (Y) Tj ET Q q 0 0 0 rg BT 476.16 353.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 525.20 353.86 Td (3 ) Tj ET Q q 0 0 0 rg BT 531.78 353.86 Td (Y) Tj ET Q q 0 0 0 rg BT 537.66 353.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 339.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 339.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 339.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 343.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 339.86 Td (3.00%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 339.86 Td (3.00%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 325.86 Td (Student Loan ) Tj ET Q q 0 0 0 rg BT 120.50 325.86 Td (Auction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 316.86 Td (Rate Securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.50 325.86 Td (25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.00 325.86 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.50 325.86 Td (24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 325.86 Td (Discounted) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.50 316.86 Td (Cash Flow) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 325.86 Td (Discount Rate ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 428.99 329.94 Td (\(5\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 325.86 Td (3.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 325.86 Td (3.79%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 302.86 Td (Duration) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.35 302.86 Td (5.5 ) Tj ET Q q 0 0 0 rg BT 473.68 302.86 Td (Y) Tj ET Q q 0 0 0 rg BT 479.56 302.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 521.85 302.86 Td (5.5 ) Tj ET Q q 0 0 0 rg BT 535.02 302.86 Td (Y) Tj ET Q q 0 0 0 rg BT 540.61 302.86 Td (ears) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.50 288.86 Td (Current ) Tj ET Q q 0 0 0 rg BT 404.91 288.86 Td (Y) Tj ET Q q 0 0 0 rg BT 410.91 288.86 Td (ield ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 426.66 292.94 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 465.35 288.86 Td (3.23%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.85 288.86 Td (3.23%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 167.50 274.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 184.75 274.06 Td (16,026) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.50 274.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.00 274.06 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 274.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.75 274.06 Td (15,843) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 261.00 Td (T) Tj ET Q q 0 0 0 rg BT 75.68 261.00 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 167.50 260.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 180.25 260.06 Td (104,551) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.50 260.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.25 260.06 Td (1,358) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 260.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 284.25 260.06 Td (103,193) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 256.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 238.10 Td (Principal amount represents the par value of the ) Tj ET Q q 0 0 0 rg BT 278.77 238.10 Td (ARS and is included in securities owned on the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 226.10 Td (consolidated balance sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.28 226.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.88 226.10 Td (. ) Tj ET Q q 0 0 0 rg BT 284.70 226.10 Td (The valuation adjustment amount is included as a reduction to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 214.10 Td (securities owned on the condensed consolidated balance sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.63 214.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.23 214.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 202.10 Td (Derived by applying a multiple to a spread between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.60 202.10 Td (1) Tj ET Q q 0 0 0 rg BT 299.23 202.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.56 202.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.34 202.10 Td (150%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.67 202.10 Td ( to the U.S. ) Tj ET Q q 0 0 0 rg BT 401.27 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 407.02 202.10 Td (reasury rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.27 202.10 Td (2.32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 202.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 190.10 Td (Based on current yields for ) Tj ET Q q 0 0 0 rg BT 195.75 190.10 Td (ARS positions owned.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 178.10 Td (Derived by applying a multiple to the spread of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.39 178.10 Td (175%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.72 178.10 Td ( to the U.S. ) Tj ET Q q 0 0 0 rg BT 348.32 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 354.08 178.10 Td (reasury rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.32 178.10 Td (2.38%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 178.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.10 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 166.10 Td (Derived by applying the sum of the spread of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.06 166.10 Td (1.20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.89 166.10 Td ( to the U.S. ) Tj ET Q q 0 0 0 rg BT 342.49 166.10 Td (T) Tj ET Q q 0 0 0 rg BT 348.25 166.10 Td (reasury rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.49 166.10 Td (2.59%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.32 166.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.10 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 154.10 Td (Principal amount represents the present value of the ) Tj ET Q q 0 0 0 rg BT 294.88 154.10 Td (ARS par value that the Company is committed to purchase at a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 142.10 Td (future date. ) Tj ET Q q 0 0 0 rg BT 133.35 142.10 Td (This principal amount is presented as an of) Tj ET Q q 0 0 0 rg BT 305.07 142.10 Td (f-balance sheet item. ) Tj ET Q q 0 0 0 rg BT 390.40 142.10 Td (The valuation adjustment amount is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 130.10 Td (included in accounts payable and other liabilities on the condensed consolidated balance sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.20 130.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.80 130.10 Td (.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The fair value of ) Tj ET Q q 0 0 0 rg BT 118.36 695.10 Td (ARS and ) Tj ET Q q 0 0 0 rg BT 156.70 695.10 Td (ARS purchase commitments is particularly sensitive to movements in interest rates. Increases in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (short-term interest rates would increase the discount rate input used in the ) Tj ET Q q 0 0 0 rg BT 346.64 683.10 Td (ARS valuation and thus reduce the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (ARS \(increase the valuation adjustment\). Conversely) Tj ET Q q 0 0 0 rg BT 261.58 671.10 Td (, decreases in short-term interest rates would decrease the discount rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (and thus increase the fair value of ) Tj ET Q q 0 0 0 rg BT 186.39 659.10 Td (ARS \(decrease the valuation adjustment\). However) Tj ET Q q 0 0 0 rg BT 391.48 659.10 Td (, an increase \(decrease\) in the discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.10 Td (rate input would be partially mitigated by an increase \(decrease\) in the current yield earned on the underlying ) Tj ET Q q 0 0 0 rg BT 488.78 647.10 Td (ARS asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (increasing the cash flows and thus the fair value. Furthermore, movements in short term interest rates would likely impact the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (ARS duration \(i.e., sensitivity of the price to a change in interest rates\), which would also have a mitigating ef) Tj ET Q q 0 0 0 rg BT 489.48 623.10 Td (fect on interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (rate movements. For example, as interest rates increase, issuers of ) Tj ET Q q 0 0 0 rg BT 315.25 611.10 Td (ARS have an incentive to redeem outstanding securities as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (servicing the interest payments gets prohibitively expensive which would lower the duration assumption thereby increasing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (ARS fair value. ) Tj ET Q q 0 0 0 rg BT 113.93 587.10 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 166.04 587.10 Td (, ) Tj ET Q q 0 0 0 rg BT 170.49 587.10 Td (ARS issuers are less likely to redeem ) Tj ET Q q 0 0 0 rg BT 321.30 587.10 Td (ARS in a lower interest rate environment as it is a relatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (inexpensive source of financing which would increase the duration assumption thereby decreasing the ) Tj ET Q q 0 0 0 rg BT 459.65 575.10 Td (ARS fair value. For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (example, see the following sensitivities:) Tj ET Q BT /F1 6.00 Tf ET q 0 0 0 rg BT 209.74 563.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 539.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 539.10 Td (The impact of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.03 539.10 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.03 539.10 Td ( basis point increase in the discount rate at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.92 539.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.52 539.10 Td ( would result in a decrease in the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 527.10 Td (value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.49 527.10 Td ($614,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.99 527.10 Td ( \(does not consider a corresponding reduction in duration as discussed above\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 509.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 509.10 Td (The impact of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.03 509.10 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.03 509.10 Td ( basis point increase in the discount rate at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.92 509.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.52 509.10 Td ( would result in a decrease in the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 497.10 Td (value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.49 497.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.38 497.10 Td ( \(does not consider a corresponding reduction in duration as discussed above\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (These sensitivities are hypothetical and are based on scenarios where they are "stressed" and should be used with caution. ) Tj ET Q q 0 0 0 rg BT 538.44 473.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (estimates do not include all of the interplay among assumptions and are estimated as a portfolio rather than as individual assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (Due to the less observable nature of these inputs, the Company categorizes ) Tj ET Q q 0 0 0 rg BT 350.80 437.10 Td (ARS in Level 3 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 518.98 437.10 Td (. ) Tj ET Q q 0 0 0 rg BT 523.43 437.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 425.10 Td (, the Company had a valuation adjustment \(unrealized loss\) of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.87 425.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.76 425.10 Td ( for ) Tj ET Q q 0 0 0 rg BT 428.87 425.10 Td (ARS owned which is included as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (a reduction to securities owned on the condensed consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 359.40 413.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.84 413.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.44 413.10 Td (, the Company also had a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (valuation adjustment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.42 401.10 Td ($183,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.92 401.10 Td ( on ) Tj ET Q q 0 0 0 rg BT 198.37 401.10 Td (ARS purchase commitments from settlements with the Regulators and legal settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (and awards, which is included in accounts payable and other liabilities on the condensed consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 517.22 389.10 Td (The total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (valuation adjustment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.65 377.10 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.54 377.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.70 377.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.30 377.10 Td (. ) Tj ET Q q 0 0 0 rg BT 295.12 377.10 Td (The valuation adjustment represents the dif) Tj ET Q q 0 0 0 rg BT 467.94 377.10 Td (ference between the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (principal value and the fair value of the ) Tj ET Q q 0 0 0 rg BT 208.88 365.10 Td (ARS owned and ) Tj ET Q q 0 0 0 rg BT 276.38 365.10 Td (ARS purchase commitments.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td (In its role as general partner in certain hedge funds and private equity funds, the Company) Tj ET Q q 0 0 0 rg BT 409.85 323.10 Td (, through its subsidiaries, holds direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (investments in such funds. ) Tj ET Q q 0 0 0 rg BT 157.92 311.10 Td (The Company uses the net asset value of the underlying fund as a basis for estimating the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (of its investment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (The following table provides information about the Company's investments in Company-sponsored funds as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.23 275.10 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 263.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 212.60 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 212.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 212.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 212.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 212.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 212.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 212.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 212.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 182.60 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 226.00 182.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 182.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 182.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 182.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 182.60 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 182.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 182.60 75.00 -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 226 212.60000000000002 m 301 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 212.60000000000002 m 380 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 212.60000000000002 m 484 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 212.60000000000002 m 563 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 212.60000000000002 m 301 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 212.60000000000002 m 380 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 182.60000000000002 m 301 182.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 182.60000000000002 m 380 182.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 168.60000000000002 m 301 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 226 166.60000000000002 m 301 166.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 168.60000000000002 m 380 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 166.60000000000002 m 380 166.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 237.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 237.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.50 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.50 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.50 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 237.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 216.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.50 216.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 261.24 216.85 Td (V) Tj ET Q q 0 0 0 rg BT 266.13 216.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.00 224.85 Td (Unfunded) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.30 216.85 Td (Commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 413.90 224.85 Td (Redemption) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.60 216.85 Td (Frequency) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.40 224.85 Td (Redemption) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.85 216.85 Td (Notice Period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 202.27 Td (Hedge funds ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 105.82 206.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.50 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 202.27 Td (2,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.50 202.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.15 202.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.80 202.27 Td (Quarterly - ) Tj ET Q q 0 0 0 rg BT 438.17 202.27 Td (Annually) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.80 202.27 Td (30-120Days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 187.27 Td (Private equity funds ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 135.54 191.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 187.27 Td (4,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 187.27 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.15 187.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 187.27 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.50 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.65 172.27 Td (7,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.50 172.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 172.27 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 150.10 Td (Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 138.10 Td (strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 126.10 Td (greater than one year) Tj ET Q q 0 0 0 rg BT 169.06 126.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 114.10 Td (Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 102.10 Td (global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 90.10 Td (without the consent of the general partner) Tj ET Q q 0 0 0 rg BT 251.55 90.10 Td (. ) Tj ET Q q 0 0 0 rg BT 256.37 90.10 Td (The lock-up period of the private equity funds can extend to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.35 90.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.35 90.10 Td ( years.) Tj ET Q endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (21) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.06 695.25 Td (aluation Process) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The Company's Finance& ) Tj ET Q q 0 0 0 rg BT 158.51 677.25 Td (Accounting \("F&A"\) group is responsible for the Company's fair value policies, processes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (procedures. F&A) Tj ET Q q 0 0 0 rg BT 118.38 665.25 Td ( is independent from the business units and trading desks and is headed by the Company's Chief Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (Of) Tj ET Q q 0 0 0 rg BT 59.87 653.25 Td (ficer \("CFO"\), who has final authority over the valuation of the Company's financial instruments. ) Tj ET Q q 0 0 0 rg BT 451.23 653.25 Td (The Finance Control Group ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (\("FCG"\) within F&A) Tj ET Q q 0 0 0 rg BT 134.34 641.25 Td ( is responsible for daily profit and loss reporting, front-end trading system position reconciliations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (monthly profit and loss reporting, and independent price verification procedures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (For financial instruments categorized in Levels 1 and 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 375.67 605.25 Td (, the FCG performs a monthly independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (price verification to determine the reasonableness of the prices provided by the Company's independent pricing vendor) Tj ET Q q 0 0 0 rg BT 524.21 593.25 Td (. ) Tj ET Q q 0 0 0 rg BT 529.03 593.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (FCG uses its third-party pricing vendor) Tj ET Q q 0 0 0 rg BT 206.58 581.25 Td (, executed transactions, and broker) Tj ET Q q 0 0 0 rg BT 345.21 581.25 Td (-dealer quotes for validating the fair values of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (financial instruments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (For financial instruments categorized in Level 3 of the fair value hierarchy measured on a recurring basis, primarily for ) Tj ET Q q 0 0 0 rg BT 528.21 545.25 Td (ARS, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (group comprised of the CFO, the Controller) Tj ET Q q 0 0 0 rg BT 224.91 533.25 Td (, and an Operations Director are responsible for the ) Tj ET Q q 0 0 0 rg BT 432.05 533.25 Td (ARS valuation model and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (resulting fair valuations. Procedures performed include aggregating all ) Tj ET Q q 0 0 0 rg BT 334.13 521.25 Td (ARS owned by type from firm inventory accounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (ARS purchase commitments from regulatory and legal settlements and awards provided by the Legal Department. Observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (and unobservable inputs are aggregated from various sources and entered into the ) Tj ET Q q 0 0 0 rg BT 377.72 497.25 Td (ARS valuation model. For unobservable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (inputs, the group reviews the appropriateness of the inputs to ensure consistency with how a market participant would arrive at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (the unobservable input. For example, for the duration assumption, the group would consider recent policy statements regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (short-term interest rates by the Federal Reserve and recent ) Tj ET Q q 0 0 0 rg BT 284.69 461.25 Td (ARS issuer redemptions and announcements for future redemptions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (The model output is reviewed for reasonableness and consistency) Tj ET Q q 0 0 0 rg BT 310.99 449.25 Td (. ) Tj ET Q q 0 0 0 rg BT 315.81 449.25 Td (Where available, comparisons are performed between ) Tj ET Q q 0 0 0 rg BT 533.21 449.25 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (owned or committed to purchase with ) Tj ET Q q 0 0 0 rg BT 202.80 437.25 Td (ARS that are trading in the secondary market.) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (22) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Assets and Liabilities Measured at Fair V) Tj ET Q q 0 0 0 rg BT 219.52 695.25 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The Company's assets and liabilities, recorded at fair value on a recurring basis as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.08 677.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.68 677.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.12 677.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.70 677.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (have been categorized based upon the above fair value hierarchy as follows:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (Assets and liabilities measured at fair value on a recurring basis as of ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 338.69 641.25 Td (March31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.98 641.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 585.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 585.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 585.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 585.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 585.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 585.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 585.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 585.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 559.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 559.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 559.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 559.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 559.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 559.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 559.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 559.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 533.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 533.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 533.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 533.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 533.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 533.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 533.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 533.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 507.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 507.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 507.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 507.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 507.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 507.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 507.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 507.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 481.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 481.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 481.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 481.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 481.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 481.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 481.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 481.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 455.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 455.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 455.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 455.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 455.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 455.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 455.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 455.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 429.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 429.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 429.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 429.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 429.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 429.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 429.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 403.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 403.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 403.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 403.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 403.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 403.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 403.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 403.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 377.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 377.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 377.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 377.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 377.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 377.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 377.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 377.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 351.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 351.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 351.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 351.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 351.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 351.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 351.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 351.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 325.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 325.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 325.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 325.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 325.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 325.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 325.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 325.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 299.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 299.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 299.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 299.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 299.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 273.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 273.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 273.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 273.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 273.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 247.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 247.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 247.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 247.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 221.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 221.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 221.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 221.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 221.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 195.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 195.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 195.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 195.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 195.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 195.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 195.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 195.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 169.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 169.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 169.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 169.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 169.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 169.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 169.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 169.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 143.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 143.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 143.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 143.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 143.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 143.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 143.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 143.75 60.00 -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 311 598.75 m 371 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 598.75 m 375 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 598.75 m 435 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 598.75 m 439 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 598.75 m 499 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 598.75 m 503 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 598.75 m 563 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 585.75 m 371 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 585.75 m 435 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 585.75 m 499 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 585.75 m 563 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 403.75 m 371 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 403.75 m 435 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 403.75 m 499 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 403.75 m 563 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 403.75 m 563 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 351.75 m 371 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 351.75 m 435 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 351.75 m 499 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 351.75 m 563 351.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 339.75 m 371 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 337.75 m 371 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 339.75 m 435 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 337.75 m 435 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 339.75 m 499 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 337.75 m 499 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 339.75 m 563 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 337.75 m 563 337.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 221.75 m 371 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 221.75 m 435 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 221.75 m 499 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 221.75 m 563 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 156.75 m 371 156.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 156.75 m 435 156.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 156.75 m 499 156.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 156.75 m 563 156.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 143.75 m 371 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 143.75 m 435 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 143.75 m 499 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 143.75 m 563 143.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 131.75 m 371 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 129.75 m 371 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 131.75 m 435 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 129.75 m 435 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 131.75 m 499 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 129.75 m 499 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 131.75 m 563 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 129.75 m 563 129.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 616.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 616.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.50 616.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.50 616.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 616.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.50 616.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 603.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 360.55 603.00 Td (Fair ) Tj ET Q q 0 0 0 rg BT 375.36 603.00 Td (V) Tj ET Q q 0 0 0 rg BT 380.63 603.00 Td (alue Measurements as of March31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 590.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.35 590.00 Td (Level 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.35 590.00 Td (Level 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.35 590.00 Td (Level 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.30 590.00 Td (T) Tj ET Q q 0 0 0 rg BT 528.63 590.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 577.15 Td (Assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 564.01 Td (Cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 564.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 564.01 Td (10,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 564.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 564.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 564.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 564.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 564.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 564.01 Td (10,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 551.01 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 143.15 551.01 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 551.01 Td (41,387) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 551.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 551.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 551.01 Td (41,387) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 538.01 Td (Securities owned:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 525.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.67 525.01 Td (T) Tj ET Q q 0 0 0 rg BT 93.93 525.01 Td (reasury securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 525.01 Td (708,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 525.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 525.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 525.01 Td (708,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 512.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.51 512.01 Td (Agency securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 512.01 Td (13,556) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 512.01 Td (10,740) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 512.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 512.01 Td (24,296) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 499.01 Td (Sovereign obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 499.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 499.01 Td (557) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 499.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 499.01 Td (557) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 486.01 Td (Corporate debt and other obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 486.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 486.01 Td (21,659) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 486.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 486.01 Td (21,659) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 473.01 Td (Mortgage and other asset-backed securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 473.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 473.01 Td (1,980) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 473.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 473.01 Td (1,980) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 460.01 Td (Municipal obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 460.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 460.01 Td (91,523) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 460.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 460.01 Td (91,523) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 447.01 Td (Convertible bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 447.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 447.01 Td (31,465) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 447.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 447.01 Td (31,465) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 434.01 Td (Corporate equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 434.01 Td (31,974) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 434.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 434.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 434.01 Td (31,974) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 421.01 Td (Money markets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 421.01 Td (573) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 421.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 421.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 421.01 Td (573) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 408.01 Td (Auction rate securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 408.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 408.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 408.01 Td (87,350) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 408.01 Td (87,350) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 395.01 Td (Securities owned, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 395.01 Td (754,353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.25 395.01 Td (157,924) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 395.01 Td (87,350) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 395.01 Td (999,627) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 382.01 Td (Investments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 98.24 386.09 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 382.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 382.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 382.01 Td (168) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 382.01 Td (168) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 369.01 Td (Derivative contracts:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 356.01 Td (TBAs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 356.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 356.01 Td (3,752) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 356.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 356.01 Td (3,752) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 343.01 Td (T) Tj ET Q q 0 0 0 rg BT 57.68 343.01 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 343.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 343.01 Td (806,230) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 343.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.25 343.01 Td (161,676) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 343.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 343.01 Td (87,518) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 343.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 523.50 343.01 Td (1,055,424) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 330.15 Td (Liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 317.01 Td (Securities sold but not yet purchased:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 304.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.67 304.01 Td (T) Tj ET Q q 0 0 0 rg BT 93.93 304.01 Td (reasury securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 304.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 304.01 Td (108,819) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 304.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 304.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 304.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 304.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 304.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 304.01 Td (108,819) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 291.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.51 291.01 Td (Agency securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 291.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.00 291.01 Td (5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 291.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 291.01 Td (5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 278.01 Td (Sovereign obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 278.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 278.01 Td (1,336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 278.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 278.01 Td (1,336) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 265.01 Td (Corporate debt and other obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 265.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 265.01 Td (5,048) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 265.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 265.01 Td (5,048) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 252.01 Td (Mortgage and other asset-backed securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 252.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.00 252.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 252.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 252.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 239.01 Td (Convertible bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 239.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 239.01 Td (8,237) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 239.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 239.01 Td (8,237) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 226.01 Td (Corporate equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 226.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 226.01 Td (24,433) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 226.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 226.01 Td (24,433) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 213.01 Td (Securities sold but not yet purchased, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 213.01 Td (108,819) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 213.01 Td (39,067) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 213.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 213.01 Td (147,886) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 200.01 Td (Derivative contracts:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 187.01 Td (Futures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.25 187.01 Td (1,218) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 187.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 187.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 187.01 Td (1,218) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 174.01 Td (TBAs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 174.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 174.01 Td (3,667) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 174.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 174.01 Td (3,667) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 161.01 Td (ARS purchase commitments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 161.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 161.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 161.01 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 161.01 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 148.01 Td (Derivative contracts, total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.25 148.01 Td (1,218) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 148.01 Td (3,667) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 148.01 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 148.01 Td (5,068) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 135.01 Td (T) Tj ET Q q 0 0 0 rg BT 57.37 135.01 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 135.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 135.01 Td (1) Tj ET Q q 0 0 0 rg BT 342.75 135.01 Td (10,037) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 135.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 135.01 Td (42,734) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 135.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 135.01 Td (183) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 135.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 135.01 Td (152,954) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 131.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 113.25 Td (Included in other assets on the condensed consolidated balance sheet.) Tj ET Q endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (23) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Assets and liabilities measured at fair value on a recurring basis as of ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 338.69 695.25 Td (December31, 2017) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 417.84 695.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 639.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 639.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 639.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 639.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 639.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 639.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 639.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 614.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 614.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 614.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 614.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 614.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 614.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 614.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 590.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 590.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 590.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 590.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 590.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 590.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 590.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 590.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 566.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 566.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 566.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 566.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 566.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 566.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 566.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 566.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 542.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 542.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 542.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 542.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 542.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 542.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 542.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 518.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 518.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 518.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 518.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 518.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 518.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 518.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 518.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 494.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 494.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 494.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 494.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 494.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 494.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 494.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 494.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 470.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 470.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 470.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 470.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 470.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 470.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 470.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 470.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 446.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 446.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 446.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 446.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 446.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 446.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 446.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 446.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 422.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 422.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 422.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 422.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 422.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 422.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 422.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 422.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 398.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 398.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 398.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 398.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 398.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 398.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 398.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 398.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 374.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 374.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 374.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 374.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 374.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 374.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 374.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 374.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 350.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 350.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 350.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 350.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 350.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 350.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 350.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 350.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 326.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 326.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 326.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 326.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 326.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 326.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 326.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 326.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 302.75 261.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 302.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 302.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 302.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 302.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 302.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 302.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 302.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 277.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 277.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 277.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 277.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 277.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 277.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 277.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 277.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 253.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 253.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 253.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 253.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 253.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 253.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 253.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 253.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 229.75 261.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 229.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 229.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 229.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 229.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 229.75 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 229.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 229.75 60.00 -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 311 652.75 m 371 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 652.75 m 375 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 652.75 m 435 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 652.75 m 439 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 652.75 m 499 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 652.75 m 503 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 652.75 m 563 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 639.75 m 371 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 639.75 m 435 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 639.75 m 499 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 639.75 m 563 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 470.75 m 371 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 470.75 m 435 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 470.75 m 499 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 470.75 m 563 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 470.75 m 371 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 470.75 m 435 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 470.75 m 499 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 470.75 m 563 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 422.75 m 371 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 422.75 m 435 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 422.75 m 499 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 422.75 m 563 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 411.75 m 371 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 409.75 m 371 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 411.75 m 435 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 409.75 m 435 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 411.75 m 499 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 409.75 m 499 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 411.75 m 563 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 409.75 m 563 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 302.75 m 371 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 302.75 m 435 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 302.75 m 499 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 302.75 m 563 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 241.75 m 371 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 241.75 m 435 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 241.75 m 499 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 241.75 m 563 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 229.75 m 371 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 229.75 m 435 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 229.75 m 499 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 229.75 m 563 229.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 218.75 m 371 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 216.75 m 371 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 218.75 m 435 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 216.75 m 435 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 218.75 m 499 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 216.75 m 499 216.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 218.75 m 563 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 216.75 m 563 216.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 670.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 670.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.50 670.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 657.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.55 657.00 Td (Fair ) Tj ET Q q 0 0 0 rg BT 369.36 657.00 Td (V) Tj ET Q q 0 0 0 rg BT 374.63 657.00 Td (alue Measurements as of December31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.35 644.00 Td (Level 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.35 644.00 Td (Level 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.35 644.00 Td (Level 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.30 644.00 Td (T) Tj ET Q q 0 0 0 rg BT 528.63 644.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 631.15 Td (Assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 618.01 Td (Cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 618.01 Td (10,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 618.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 618.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 618.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 618.01 Td (10,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 606.01 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 143.15 606.01 Td (ganizations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 606.01 Td (34,293) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 606.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 606.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 606.01 Td (34,293) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 594.01 Td (Securities owned:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 582.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.67 582.01 Td (T) Tj ET Q q 0 0 0 rg BT 93.93 582.01 Td (reasury securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 582.01 Td (640,337) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 582.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 582.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 582.01 Td (640,337) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 570.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.51 570.01 Td (Agency securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.25 570.01 Td (3,01) Tj ET Q q 0 0 0 rg BT 363.00 570.01 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 570.01 Td (6,894) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 570.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 570.01 Td (9,905) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 558.01 Td (Sovereign obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 558.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 558.01 Td (608) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 558.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 558.01 Td (608) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 546.01 Td (Corporate debt and other obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 546.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 546.01 Td (12,538) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 546.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 546.01 Td (12,538) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 534.01 Td (Mortgage and other asset-backed securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 534.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 534.01 Td (4,037) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 534.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 534.01 Td (4,037) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 522.01 Td (Municipal obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 522.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 522.01 Td (89,618) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 522.01 Td (35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 522.01 Td (89,653) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 510.01 Td (Convertible bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 510.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 510.01 Td (23,216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 510.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 510.01 Td (23,216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 498.01 Td (Corporate equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 498.01 Td (34,067) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 498.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 498.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 498.01 Td (34,067) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 486.01 Td (Money markets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 486.01 Td (383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 486.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 486.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 486.01 Td (383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 474.01 Td (Auction rate securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 474.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 474.01 Td (24,455) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 474.01 Td (87,398) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 474.01 Td (1) Tj ET Q q 0 0 0 rg BT 534.75 474.01 Td (1) Tj ET Q q 0 0 0 rg BT 539.25 474.01 Td (1,853) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 462.01 Td (Securities owned, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 462.01 Td (677,798) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.25 462.01 Td (161,366) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 462.01 Td (87,433) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 462.01 Td (926,597) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 450.01 Td (Investments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 98.24 454.09 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 450.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 450.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.00 450.01 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 450.01 Td (169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 438.01 Td (Derivative contracts:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 426.01 Td (TBAs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 426.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 426.01 Td (716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 426.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 426.01 Td (716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 414.01 Td (T) Tj ET Q q 0 0 0 rg BT 57.68 414.01 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 414.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.25 414.01 Td (722,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 414.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.25 414.01 Td (162,082) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 414.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.75 414.01 Td (87,602) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 414.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 414.01 Td (972,265) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 402.15 Td (Liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 390.01 Td (Securities sold but not yet purchased:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 378.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.67 378.01 Td (T) Tj ET Q q 0 0 0 rg BT 93.93 378.01 Td (reasury securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 378.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 378.01 Td (53,425) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 378.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 378.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 378.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 378.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 378.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 378.01 Td (53,425) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 366.01 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 88.51 366.01 Td (Agency securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 366.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 366.01 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 366.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 366.01 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 354.01 Td (Sovereign obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 354.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 354.01 Td (1,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 354.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 354.01 Td (1,179) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 342.01 Td (Corporate debt and other obligations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 342.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.25 342.01 Td (4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 342.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 342.01 Td (4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 330.01 Td (Mortgage and other asset-backed securities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 330.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 330.01 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 330.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 330.01 Td (10) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 318.01 Td (Convertible bonds) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 318.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 318.01 Td (10,109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 318.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 318.01 Td (10,109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 306.01 Td (Corporate equities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 306.01 Td (25,393) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 306.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 306.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 306.01 Td (25,393) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 294.01 Td (Securities sold but not yet purchased, at fair value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 294.01 Td (78,818) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 294.01 Td (15,668) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 294.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 294.01 Td (94,486) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 281.01 Td (Derivative contracts:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 269.01 Td (Futures) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 269.01 Td (766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 269.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 269.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 269.01 Td (766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 257.01 Td (TBAs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 257.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 257.01 Td (614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 486.50 257.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 257.01 Td (614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 245.01 Td (ARS purchase commitments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 358.50 245.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.50 245.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 245.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 245.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 233.01 Td (Derivative contracts, total) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.00 233.01 Td (766) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.00 233.01 Td (614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 233.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 233.01 Td (1,388) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 221.01 Td (T) Tj ET Q q 0 0 0 rg BT 57.37 221.01 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.50 221.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.75 221.01 Td (79,584) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.50 221.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.75 221.01 Td (16,282) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.50 221.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 491.00 221.01 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 221.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 221.01 Td (95,874) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 218.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 200.25 Td (Included in other assets on the condensed consolidated balance sheet.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (There were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.24 695.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.24 695.10 Td ( transfers between any of the levels in the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.60 695.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.20 695.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.64 695.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.64 695.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.83 659.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.42 659.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.86 659.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.86 659.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 564.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 564.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 564.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 535.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 535.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 535.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 535.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 535.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 535.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 535.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 505.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 505.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 505.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 505.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 505.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 505.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 505.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 505.60 55.00 -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 213 603.6 m 268 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 603.6 m 272 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 603.6 m 327 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 603.6 m 331 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 603.6 m 386 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 603.6 m 390 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 603.6 m 445 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 603.6 m 449 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 603.6 m 504 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 603.6 m 508 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 603.6 m 563 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 603.6 m 327 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 564.6 m 268 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 564.6 m 327 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 564.6 m 386 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 564.6 m 445 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 564.6 m 504 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 564.6 m 563 564.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 633.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 633.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 620.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.15 620.85 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 366.14 620.85 Td (Assets and Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 607.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.90 607.85 Td (For the ) Tj ET Q q 0 0 0 rg BT 339.71 607.85 Td (Three Months Ended March31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 594.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.30 576.85 Td (Beginning) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.10 568.85 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.80 592.85 Td (T) Tj ET Q q 0 0 0 rg BT 280.13 592.85 Td (otal Realized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.65 584.85 Td (and Unrealized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 576.85 Td (Gains) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.35 568.85 Td (\(Losses\) ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 307.46 572.48 Td (\(3\)\(4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.00 576.85 Td (Purchases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.85 568.85 Td (and Issuances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.75 576.85 Td (Sales and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 568.85 Td (Settlements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.00 576.85 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 576.85 Td (ransfers) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.00 568.85 Td (In \(Out\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.40 576.85 Td (Ending) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.10 568.85 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 568.85 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 555.33 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 541.17 Td (Municipal obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 540.27 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 540.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 540.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 540.32 Td (\(125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 540.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 540.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 540.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 540.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 525.27 Td (Auction rate securities ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 144.97 529.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.65 525.27 Td (87,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 525.27 Td (847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 525.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 525.32 Td (\(945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 525.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 525.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 525.27 Td (87,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 510.27 Td (Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 510.27 Td (169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 510.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 510.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 510.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 510.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 510.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 510.27 Td (168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 496.33 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 481.27 Td (ARS purchase commitments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 169.43 485.34 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 176.25 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 481.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.80 481.32 Td (\(175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 481.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 481.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 481.27 Td (183) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 477.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 459.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 459.10 Td (Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 447.10 Td (that failed in the auction rate market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 435.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 435.10 Td (Represents the dif) Tj ET Q q 0 0 0 rg BT 157.52 435.10 Td (ference in principal and fair value for auction rate securities purchase commitments outstanding at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 423.10 Td (the end of the period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 411.10 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 411.10 Td (Included in principal transactions in the condensed consolidated statement of operations, except for gains \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 399.10 Td (investments which are included in other income in the condensed consolidated statement of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 387.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 387.10 Td (Unrealized gains \(losses\) are attributable to assets or liabilities that are still held at the reporting date.) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (25) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 623.50 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 623.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 623.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 623.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 623.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 623.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 623.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 594.50 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 594.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 594.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 594.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 594.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 594.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 594.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 564.50 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 564.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 564.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 564.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 564.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 564.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 564.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 535.50 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 535.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 535.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 535.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 535.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 535.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 535.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 535.50 55.00 -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 213 662.5 m 268 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 662.5 m 272 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 662.5 m 327 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 662.5 m 331 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 662.5 m 386 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 662.5 m 390 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 662.5 m 445 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 662.5 m 449 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 662.5 m 504 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 662.5 m 508 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 662.5 m 563 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 662.5 m 327 662.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 623.5 m 268 623.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 623.5 m 327 623.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 623.5 m 386 623.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 623.5 m 445 623.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 623.5 m 504 623.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 623.5 m 563 623.5 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 692.75 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 692.75 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 679.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.15 679.75 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 366.14 679.75 Td (Assets and Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 666.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.90 666.75 Td (For the ) Tj ET Q q 0 0 0 rg BT 339.71 666.75 Td (Three Months Ended March31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 653.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.30 635.75 Td (Beginning) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.10 627.75 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.80 651.75 Td (T) Tj ET Q q 0 0 0 rg BT 280.13 651.75 Td (otal Realized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.65 643.75 Td (and Unrealized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 635.75 Td (Gains) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.35 627.75 Td (\(Losses\) ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 307.46 631.38 Td (\(3\)\(4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.00 635.75 Td (Purchases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.85 627.75 Td (and Issuances) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.75 635.75 Td (Sales and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 627.75 Td (Settlements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.00 635.75 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 635.75 Td (ransfers) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.00 627.75 Td (In \(Out\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.40 635.75 Td (Ending) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.10 627.75 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 627.75 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 614.23 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.07 Td (Municipal obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 599.17 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 599.22 Td (\(8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 599.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 599.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 599.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 599.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 599.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 599.17 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.17 Td (Auction rate securities ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 144.97 588.24 Td (\(1\)\(5\)\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.65 584.17 Td (84,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 584.17 Td (642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.65 584.17 Td (5,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.80 584.22 Td (\(825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 584.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 584.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 584.17 Td (89,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 569.17 Td (Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 569.17 Td (158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 569.17 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 569.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 569.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 569.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 569.17 Td (164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 555.07 Td (ARS purchase commitments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 169.43 559.60 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 554.17 Td (849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 554.17 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 554.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 554.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 554.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 554.17 Td (878) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 540.23 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 525.17 Td (ARS purchase commitments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 169.43 529.70 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 525.17 Td (645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 525.17 Td (286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 525.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 525.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 525.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 525.17 Td (359) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 503.00 Td (Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 491.00 Td (that failed in the auction rate market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.00 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 479.00 Td (Represents the dif) Tj ET Q q 0 0 0 rg BT 157.52 479.00 Td (ference in principal and fair value for auction rate securities purchase commitments outstanding at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 467.00 Td (the end of the period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.00 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 455.00 Td (Included in principal transactions in the condensed consolidated statement of operations, except for gains \(losses\) from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 443.00 Td (investments which are included in other income in the condensed consolidated statement of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.00 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 431.00 Td (Unrealized gains are attributable to assets or liabilities that are still held at the reporting date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.00 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 419.00 Td (Purchases and issuances in connection with ) Tj ET Q q 0 0 0 rg BT 261.57 419.00 Td (ARS purchase commitments represent instances in which the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 407.00 Td (purchased ) Tj ET Q q 0 0 0 rg BT 127.99 407.00 Td (ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 395.00 Td (satisfy the outstanding commitment to purchase obligation. ) Tj ET Q q 0 0 0 rg BT 324.72 395.00 Td (This also includes instances where the ) Tj ET Q q 0 0 0 rg BT 479.68 395.00 Td (ARS issuer has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 383.00 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 126.31 383.00 Td (ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 371.00 Td (ARS.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.00 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 359.00 Td (Sales and settlements for the ) Tj ET Q q 0 0 0 rg BT 201.86 359.00 Td (ARS purchase commitments represent additional purchase commitments made during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 347.00 Td (period for regulatory and legal ) Tj ET Q q 0 0 0 rg BT 209.62 347.00 Td (ARS settlements and awards.) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (26) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Financial Instruments Not Measured at Fair V) Tj ET Q q 0 0 0 rg BT 242.88 695.25 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The table below presents the carrying value, fair value and fair value hierarchy category of certain financial instruments that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (not measured at fair value on the consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 298.39 665.25 Td (The table below excludes non-financial assets and liabilities \(e.g., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (furniture, equipment and leasehold improvements and accrued compensation\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (The carrying value of financial instruments not measured at fair value categorized in the fair value hierarchy as Level 1 or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (Level 2 \(e.g., cash and receivables from customers\) approximates fair value because of the relatively short term nature of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (underlying assets. ) Tj ET Q q 0 0 0 rg BT 123.47 605.25 Td (The fair value of the Company's senior secured notes, categorized in Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 535.57 605.25 Td (, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (based on quoted prices from the market in which the notes trade.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (Assets and liabilities not measur) Tj ET Q q 0 0 0 rg BT 179.13 569.25 Td (ed at fair value as of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 264.12 569.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 280.97 569.25 Td (ch31, 2018) Tj ET Q BT /F3 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 526.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 526.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 526.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 526.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 526.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 526.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 496.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 496.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 496.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 496.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 496.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 496.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 496.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 466.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 466.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 466.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 466.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 466.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 466.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 466.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 436.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 436.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 436.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 436.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 436.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 436.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 436.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 406.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 406.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 406.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 406.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 406.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 406.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 406.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 406.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 406.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 406.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 376.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 376.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 376.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 376.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 376.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 376.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 376.75 48.00 -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 359 539.75 m 407 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 539.75 m 411 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 539.75 m 459 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 539.75 m 463 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 539.75 m 511 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 539.75 m 515 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 539.75 m 563 539.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 526.75 m 355 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 526.75 m 407 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 526.75 m 459 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 526.75 m 511 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 526.75 m 563 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 526.75 m 355 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 526.75 m 407 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 526.75 m 459 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 526.75 m 511 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 406.75 m 355 406.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 406.75 m 407 406.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 406.75 m 459 406.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 406.75 m 511 406.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 406.75 m 563 406.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 544.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 544.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.50 544.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 408.90 544.00 Td (Fair ) Tj ET Q q 0 0 0 rg BT 423.71 544.00 Td (V) Tj ET Q q 0 0 0 rg BT 428.98 544.00 Td (alue Measurement: ) Tj ET Q q 0 0 0 rg BT 491.40 544.00 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 531.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.70 531.00 Td (Carrying) Tj ET Q q 0 0 0 rg BT 333.07 531.00 Td (V) Tj ET Q q 0 0 0 rg BT 338.33 531.00 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.35 531.00 Td (Level 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.35 531.00 Td (Level 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.35 531.00 Td (Level 3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.30 531.00 Td (T) Tj ET Q q 0 0 0 rg BT 534.63 531.00 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 517.32 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.50 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 516.42 Td (32,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.60 516.42 Td (32,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 516.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.50 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 516.42 Td (32,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 502.32 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 153.22 502.32 Td (ganization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 501.42 Td (29,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.60 501.42 Td (29,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 501.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 501.42 Td (29,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 487.32 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 247.04 487.32 Td (ganizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 472.32 Td (Securities borrowed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 471.42 Td (1) Tj ET Q q 0 0 0 rg BT 323.65 471.42 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 471.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 471.42 Td (1) Tj ET Q q 0 0 0 rg BT 427.60 471.42 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 471.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 471.42 Td (1) Tj ET Q q 0 0 0 rg BT 531.60 471.42 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 457.32 Td (Receivables from brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 456.42 Td (15,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 456.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 456.42 Td (15,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 456.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 456.42 Td (15,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 442.32 Td (Securities failed to deliver) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 441.42 Td (16,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 441.42 Td (16,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 441.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 441.42 Td (16,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 427.32 Td (Clearing or) Tj ET Q q 0 0 0 rg BT 115.67 427.32 Td (ganizations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 426.42 Td (24,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 426.42 Td (24,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 426.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 426.42 Td (24,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 412.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 411.42 Td (2,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 411.42 Td (2,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 411.42 Td (2,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 396.42 Td (170,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 396.42 Td (170,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 396.42 Td (170,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 382.32 Td (Receivable from customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 381.42 Td (881,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 381.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 381.42 Td (881,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 381.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 381.42 Td (881,941) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 367.32 Td (Notes receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 366.42 Td (42,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 366.42 Td (42,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 366.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 366.42 Td (42,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 352.32 Td (Investments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 103.33 356.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 351.42 Td (65,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 351.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 351.42 Td (65,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 351.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 351.42 Td (65,563) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 347.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 329.25 Td (Included in other assets on the condensed consolidated balance sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 286.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 286.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 286.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 286.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 286.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 286.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 286.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 286.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 286.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 256.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 256.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 256.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 256.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 256.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 226.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 226.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 226.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 226.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 226.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 226.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 226.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 226.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 226.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 196.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 196.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 196.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 196.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 196.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 196.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 196.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 196.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 196.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 196.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 166.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 166.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 166.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 166.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 166.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 166.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 166.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 166.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 166.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 166.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 136.75 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 136.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 136.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 136.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 136.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 136.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 136.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 136.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 136.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 136.75 48.00 -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 359 299.75 m 407 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 299.75 m 411 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 299.75 m 459 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 299.75 m 463 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 299.75 m 511 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 299.75 m 515 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 299.75 m 563 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 286.75 m 355 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 286.75 m 407 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 286.75 m 459 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 286.75 m 511 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 286.75 m 563 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 286.75 m 355 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 286.75 m 407 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 286.75 m 459 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 286.75 m 511 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 181.75 m 355 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 181.75 m 407 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 181.75 m 459 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 181.75 m 511 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 181.75 m 563 181.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 304.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 304.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.50 304.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.90 304.00 Td (Fair ) Tj ET Q q 0 0 0 rg BT 417.71 304.00 Td (V) Tj ET Q q 0 0 0 rg BT 422.98 304.00 Td (alue Measurement: Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 291.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.70 291.00 Td (Carrying) Tj ET Q q 0 0 0 rg BT 333.07 291.00 Td (V) Tj ET Q q 0 0 0 rg BT 338.33 291.00 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.35 291.00 Td (Level 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.35 291.00 Td (Level 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.35 291.00 Td (Level3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.30 291.00 Td (T) Tj ET Q q 0 0 0 rg BT 534.63 291.00 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 277.32 Td (Drafts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.50 276.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 276.42 Td (20,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 276.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.60 276.42 Td (20,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 276.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 276.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 276.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 276.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.50 276.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 276.42 Td (20,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 262.32 Td (Bank call loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 261.42 Td (147,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 261.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 261.42 Td (147,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 261.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 261.42 Td (147,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 247.32 Td (Payables to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 226.51 247.32 Td (ganizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 232.32 Td (Securities loaned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 231.42 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 231.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 231.42 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 231.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 231.42 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 217.32 Td (Payable to brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 216.42 Td (3,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 216.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 216.42 Td (3,405) Tj ET Q BT /F1 10.00 Tf ET q 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rg BT 393.15 171.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 171.42 Td (253,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 171.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 171.42 Td (253,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 157.32 Td (Payables to customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 156.42 Td (445,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 156.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 156.42 Td (445,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 156.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 156.42 Td (445,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 142.32 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 141.42 Td (576,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 141.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 141.42 Td (576,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 141.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 141.42 Td (576,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 127.32 Td (Senior secured notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 126.42 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 126.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 126.42 Td (206,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 126.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 126.42 Td (206,488) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 122.25 Td () Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) 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52.50 628.17 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 153.22 628.17 Td (ganization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 627.27 Td (7,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 627.27 Td (7,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 627.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 627.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 627.27 Td (7,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 613.17 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 247.04 613.17 Td (ganizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 598.17 Td (Securities borrowed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 597.27 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 597.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 597.27 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 597.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 597.27 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 583.17 Td (Receivables from brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 582.27 Td (19,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 582.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 582.27 Td (19,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 582.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 582.27 Td (19,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 568.17 Td (Securities failed to deliver) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 567.27 Td (9,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 567.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 567.27 Td (9,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 567.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 567.27 Td (9,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 553.17 Td (Clearing or) Tj ET Q q 0 0 0 rg BT 115.67 553.17 Td (ganizations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 552.27 Td (24,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 552.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 552.27 Td (24,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 552.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 552.27 Td (24,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 538.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 537.27 Td (930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 537.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 537.27 Td (930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 537.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 537.27 Td (930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 522.27 Td (186,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 522.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 522.27 Td (186,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 522.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 522.27 Td (186,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 508.17 Td (Receivable from customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 507.27 Td (848,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 507.27 Td (848,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 507.27 Td (848,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 493.17 Td (Securities purchased under agreements to resell) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 492.27 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 492.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 492.27 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 492.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 492.27 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 478.17 Td (Notes receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 477.27 Td (40,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 477.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 477.27 Td (40,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 477.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 477.27 Td (40,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 463.17 Td (Investments ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 103.33 467.70 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 462.27 Td (65,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 462.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 462.27 Td (65,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 462.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 462.27 Td (65,404) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 458.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 440.10 Td (Included in other assets on the condensed consolidated balance sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 397.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 397.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 397.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 397.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 397.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 397.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 397.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 367.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 367.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 367.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 367.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 367.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 367.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 367.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 337.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 337.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 337.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 337.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 337.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 337.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 337.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 307.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 307.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 307.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 307.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 277.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 277.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 277.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 277.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 277.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 277.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 277.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.60 250.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 247.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 247.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 247.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 247.60 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 247.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 247.60 48.00 -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 359 410.6 m 407 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 410.6 m 411 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 410.6 m 459 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 410.6 m 463 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 410.6 m 511 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 410.6 m 515 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 410.6 m 563 410.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 397.6 m 355 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 397.6 m 407 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 397.6 m 459 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 397.6 m 511 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 397.6 m 563 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 397.6 m 355 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 397.6 m 407 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 397.6 m 459 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 397.6 m 511 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 292.6 m 355 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 292.6 m 407 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 292.6 m 459 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 292.6 m 511 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 292.6 m 563 292.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 414.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 414.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.50 414.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.90 414.85 Td (Fair ) Tj ET Q q 0 0 0 rg BT 417.71 414.85 Td (V) Tj ET Q q 0 0 0 rg BT 422.98 414.85 Td (alue Measurement: Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 401.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 302.70 401.85 Td (Carrying) Tj ET Q q 0 0 0 rg BT 333.07 401.85 Td (V) Tj ET Q q 0 0 0 rg BT 338.33 401.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 370.35 401.85 Td (Level 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.35 401.85 Td (Level 2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.35 401.85 Td (Level3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.30 401.85 Td (T) Tj ET Q q 0 0 0 rg BT 534.63 401.85 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 388.17 Td (Drafts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 387.27 Td (42,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.60 387.27 Td (42,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 387.27 Td (42,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 373.17 Td (Bank call loans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 372.27 Td (1) Tj ET Q q 0 0 0 rg BT 323.65 372.27 Td (18,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 372.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 372.27 Td (1) Tj ET Q q 0 0 0 rg BT 427.60 372.27 Td (18,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 372.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 372.27 Td (1) Tj ET Q q 0 0 0 rg BT 531.60 372.27 Td (18,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 358.17 Td (Payables to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 226.51 358.17 Td (ganizations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 343.17 Td (Securities loaned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 342.27 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 342.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 342.27 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 342.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 342.27 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 328.17 Td (Payable to brokers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.65 327.27 Td (1,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 327.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 327.27 Td (1,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 327.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 327.27 Td (1,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 313.17 Td (Securities failed to receive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 312.27 Td (17,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 312.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 312.27 Td (17,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 312.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 312.27 Td (17,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 298.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 297.27 Td (10,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 297.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.60 297.27 Td (10,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 297.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.60 297.27 Td (10,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 282.27 Td (210,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 282.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 282.27 Td (210,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 282.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 282.27 Td (210,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 268.17 Td (Payables to customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 267.27 Td (385,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 267.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 267.27 Td (385,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 267.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 267.27 Td (385,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 253.17 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 252.27 Td (586,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 252.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 252.27 Td (586,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 252.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 252.27 Td (586,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 238.17 Td (Senior secured notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 237.27 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 237.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.60 237.27 Td (206,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 237.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.60 237.27 Td (206,380) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (28) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 75.90 695.25 Td (alue Option) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (The Company elected the fair value option for securities sold under agreements to repurchase \("repurchase agreements"\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (securities purchased under agreements to resell \("reverse repurchase agreements"\) that do not settle overnight or have an open ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (settlement date. ) Tj ET Q q 0 0 0 rg BT 114.57 653.25 Td (The Company has elected the fair value option for these instruments to reflect more accurately market and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (economic events in its earnings and to mitigate a potential mismatch in earnings caused by using dif) Tj ET Q q 0 0 0 rg BT 449.78 641.25 Td (ferent measurement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (attributes \(i.e. fair value versus carrying value\) for certain assets and liabilities. ) Tj ET Q q 0 0 0 rg BT 367.44 629.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.88 629.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.48 629.25 Td (, the Company did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (have any repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 202.47 593.25 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (The Company transacts, on a limited basis, in exchange traded and over) Tj ET Q q 0 0 0 rg BT 336.71 575.25 Td (-the-counter derivatives for both asset and liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.25 Td (management as well as for trading and investment purposes. Risks managed using derivative instruments include interest rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (risk and, to a lesser extent, foreign exchange risk. ) Tj ET Q q 0 0 0 rg BT 249.44 551.25 Td (All derivative instruments are measured at fair value and are recognized as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (either assets or liabilities on the condensed consolidated balance sheet. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (For) Tj ET Q q 0 0 0 rg BT 64.13 515.25 Td (eign exchange hedges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (From time to time, the Company also utilizes forward and options contracts to hedge the foreign currency risk associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (compensation obligations to Oppenheimer Israel \(OPCO\) Ltd. employees denominated in New Israeli Shekel \("NIS"\). Such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (hedges have not been designated as accounting hedges. Unrealized gains and losses on foreign exchange forward contracts are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (recorded in other assets on the condensed consolidated balance sheet and other income in the condensed consolidated statement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (of operations. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (Derivatives used for trading and investment purposes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (Futures contracts represent commitments to purchase or sell securities or other commodities at a future date and at a specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.25 Td (price. Market risk exists with respect to these instruments. Notional or contractual amounts are used to express the volume of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.25 Td (these transactions and do not represent the amounts potentially subject to market risk. ) Tj ET Q q 0 0 0 rg BT 394.23 383.25 Td (The Company uses futures contracts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.25 Td (including U.S. ) Tj ET Q q 0 0 0 rg BT 109.88 371.25 Td (T) Tj ET Q q 0 0 0 rg BT 115.63 371.25 Td (reasury notes, Federal Funds, General Collateral futures and Eurodollar contracts primarily as an economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.25 Td (hedge of interest rate risk associated with government trading activities. Unrealized gains and losses on futures contracts are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.25 Td (recorded on the condensed consolidated balance sheet in payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 447.77 347.25 Td (ganizations and in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.25 Td (condensed consolidated statement of operations as principal transactions revenue, net.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 311.25 Td (o-be-announced securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (The Company also transacts in pass-through mortgage-backed securities eligible to be sold in the ) Tj ET Q q 0 0 0 rg BT 440.33 293.25 Td (TBA) Tj ET Q q 0 0 0 rg BT 459.78 293.25 Td ( market as economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (hedges against mortgage-backed securities that it owns or has sold but not yet purchased. ) Tj ET Q q 0 0 0 rg BT 408.39 281.25 Td (TBAs provide for the forward or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (delayed delivery of the underlying instrument with settlement up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.66 269.25 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.66 269.25 Td ( days. ) Tj ET Q q 0 0 0 rg BT 362.31 269.25 Td (The contractual or notional amounts related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (these financial instruments reflect the volume of activity and do not reflect the amounts at risk. Net unrealized gains and losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.25 Td (on ) Tj ET Q q 0 0 0 rg BT 61.82 245.25 Td (TBAs are recorded on the condensed consolidated balance sheet in receivable from brokers, dealers and clearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (or) Tj ET Q q 0 0 0 rg BT 57.65 233.25 Td (ganizations or payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 285.99 233.25 Td (ganizations and in the condensed consolidated statement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (operations as principal transactions revenue, net.) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The notional amounts and fair values of the Company's derivatives as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.23 695.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.83 695.10 Td ( and December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.85 695.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.85 695.10 Td ( by product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 627.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 627.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 627.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 627.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 627.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 627.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 598.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 598.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 598.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 598.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 598.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 598.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 570.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 570.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 570.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 570.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 570.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 570.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 542.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 542.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 542.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 542.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 513.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 513.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 513.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 513.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 513.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 513.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 485.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 485.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 485.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 485.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 485.60 55.00 -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 282 640.6 m 445 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 640.6 m 449 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 640.6 m 504 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 640.6 m 508 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 640.6 m 563 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 627.6 m 445 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 627.6 m 504 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 627.6 m 563 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 570.6 m 504 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 557.6 m 504 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 555.6 m 504 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 570.6 m 563 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 557.6 m 563 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 555.6 m 563 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 470.6 m 504 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 470.6 m 563 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 457.6 m 504 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 455.6 m 504 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 457.6 m 563 457.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 455.6 m 563 455.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 657.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 657.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.30 644.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 343.11 644.85 Td (V) Tj ET Q q 0 0 0 rg BT 348.38 644.85 Td (alueofDerivativeInstrumentsas ofMarch31,2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 631.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.30 631.85 Td (Description) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 631.85 Td (Notional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 631.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 533.24 631.85 Td (V) Tj ET Q q 0 0 0 rg BT 538.13 631.85 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 618.33 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.27 Td (Derivatives not designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 253.85 607.80 Td ( ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 255.47 607.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 589.17 Td (Other contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 589.17 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 589.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 589.17 Td (909,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 589.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 589.17 Td (3,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 575.17 Td (Other ) Tj ET Q q 0 0 0 rg BT 309.59 575.17 Td (TBAs ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 335.98 579.70 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 575.17 Td (32,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 575.17 Td (360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 561.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 561.17 Td (941,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 561.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 561.17 Td (3,752) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 547.33 Td (Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 532.27 Td (Derivatives not designated as hedging instruments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 256.35 536.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 518.17 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 518.17 Td (Futures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 518.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 518.17 Td (5,076,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 518.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 518.17 Td (1,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 504.17 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 504.17 Td (909,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 504.17 Td (3,382) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 490.17 Td (Other ) Tj ET Q q 0 0 0 rg BT 309.59 490.17 Td (TBAs ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 335.98 494.70 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 490.17 Td (32,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 490.17 Td (285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 475.27 Td (ARSpurchasecommitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 475.27 Td (16,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 475.27 Td (183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 461.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 461.17 Td (6,033,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 461.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 461.17 Td (5,068) Tj ET Q BT /F1 6.00 Tf ET q 0 0 0 rg BT 564.50 457.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 439.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 439.10 Td (See "Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 254.26 439.10 Td (Activities" above for description of derivative financial instruments. Such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 427.10 Td (derivative instruments are not subject to master netting agreements, thus the related amounts are not of) Tj ET Q q 0 0 0 rg BT 496.31 427.10 Td (fset.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 415.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 415.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 131.70 415.10 Td (TBA) Tj ET Q q 0 0 0 rg BT 151.14 415.10 Td ( purchase and sale contracts related to the legacy OMHHF business.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 359.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 359.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 359.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 359.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 359.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 359.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 330.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 330.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 330.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 330.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 330.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 330.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 302.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 302.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 302.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 302.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 302.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 302.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 274.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 274.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 274.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 274.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 274.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 274.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 244.60 232.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 244.60 163.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 244.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 244.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 244.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 244.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 216.60 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.00 216.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 216.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 216.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 216.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 216.60 55.00 -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 282 372.6 m 445 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 372.6 m 449 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 372.6 m 504 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 372.6 m 508 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 372.6 m 563 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282 359.6 m 445 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 359.6 m 504 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 359.6 m 563 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 302.6 m 504 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 302.6 m 563 302.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 289.6 m 504 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 287.6 m 504 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 289.6 m 563 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 287.6 m 563 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 201.60000000000002 m 504 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 201.60000000000002 m 563 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 188.60000000000002 m 504 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 186.60000000000002 m 504 186.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 188.60000000000002 m 563 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 186.60000000000002 m 563 186.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 389.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 389.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.50 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 389.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 376.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.30 376.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 337.11 376.85 Td (V) Tj ET Q q 0 0 0 rg BT 342.38 376.85 Td (alueofDerivativeInstrumentsas ofDecember31,2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 363.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.30 363.85 Td (Description) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.00 363.85 Td (Notional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 363.85 Td (Fair) Tj ET Q q 0 0 0 rg BT 533.24 363.85 Td (V) Tj ET Q q 0 0 0 rg BT 538.13 363.85 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 350.33 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 335.27 Td (Derivatives not designated as hedging instruments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 256.35 339.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 321.17 Td (Other contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 321.17 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 321.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 321.17 Td (26,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 321.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 321.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 307.17 Td (Other ) Tj ET Q q 0 0 0 rg BT 309.59 307.17 Td (TBAs ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 335.98 311.24 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 307.17 Td (39,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 307.17 Td (694) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 293.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 293.17 Td (65,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 293.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 293.17 Td (716) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 279.33 Td (Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 264.27 Td (Derivatives not designated as hedging instruments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 253.85 268.80 Td ( ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 255.47 268.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 249.27 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 249.27 Td (Futures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 249.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 249.27 Td (5,844,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 249.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 249.27 Td (766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 235.17 Td ( Other contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 235.17 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 235.17 Td (26,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 235.17 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 221.17 Td (Other ) Tj ET Q q 0 0 0 rg BT 309.59 221.17 Td (TBAs ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 335.98 225.24 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 221.17 Td (39,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 221.17 Td (592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 206.27 Td (ARSpurchasecommitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 206.27 Td (10,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 206.27 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 192.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.10 192.17 Td (5,920,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 192.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 192.17 Td (1,388) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 170.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 170.10 Td (See "Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 254.26 170.10 Td (Activities" above for a description of derivative financial instruments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 158.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 158.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 131.70 158.10 Td (TBA) Tj ET Q q 0 0 0 rg BT 151.14 158.10 Td ( purchase and sale contracts related to the legacy OMHHF business.) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The following table presents the location and fair value amounts of the Company's derivative instruments and their ef) Tj ET Q q 0 0 0 rg BT 519.05 695.10 Td (fect in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (condensed consolidated statements of operations for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.63 683.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.23 683.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.67 683.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.67 683.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 593.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 593.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 593.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 593.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 563.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 563.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 563.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 563.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 533.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 533.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 533.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 533.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 430.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 430.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 430.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 430.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 400.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 400.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 400.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 400.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 370.60 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 370.60 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 370.60 129.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 370.60 75.00 -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 199 627.6 m 351 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 627.6 m 355 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 627.6 m 484 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 627.6 m 488 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 627.6 m 563 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 627.6 m 484 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 606.6 m 484 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 627.6 m 488 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 606.6 m 488 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 627.6 m 563 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 606.6 m 563 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 593.6 m 351 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 593.6 m 484 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 593.6 m 563 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 593.6 m 563 593.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 533.6 m 563 533.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 519.6 m 563 519.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 517.6 m 563 517.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 464.6 m 351 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 464.6 m 355 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 464.6 m 484 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 464.6 m 488 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 464.6 m 563 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 464.6 m 484 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 443.6 m 484 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 464.6 m 488 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 443.6 m 488 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 464.6 m 563 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 443.6 m 563 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 430.6 m 351 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 430.6 m 484 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 430.6 m 563 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 430.6 m 351 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 430.6 m 484 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 430.6 m 563 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 355.6 m 563 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 341.6 m 563 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 339.6 m 563 339.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 657.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.57 657.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.60 644.85 Td (The Ef) Tj ET Q q 0 0 0 rg BT 293.52 644.85 Td (fect of Derivative Instruments in the Statement of Operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 631.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.90 631.85 Td (For the ) Tj ET Q q 0 0 0 rg BT 332.71 631.85 Td (Three Months Ended March31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 610.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.50 610.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.05 618.85 Td (Recognized in Income on Derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.50 610.85 Td (\(pre-tax\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 597.83 Td (T) Tj ET Q q 0 0 0 rg BT 57.54 597.83 Td (ypes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.80 597.85 Td (Description) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.75 597.85 Td (Location) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.20 597.85 Td (Net Gain\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.17 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 583.27 Td (Futures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 583.27 Td (Principaltransactionsrevenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 583.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 583.27 Td (1,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 569.17 Td (Other contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 568.27 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 568.27 Td (Principal transactions revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 568.27 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 553.27 Td (Other ) Tj ET Q q 0 0 0 rg BT 226.68 553.27 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 553.27 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 553.27 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 538.27 Td (ARS purchase commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 538.27 Td (Principal transactions revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 538.32 Td (\(175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 538.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 523.27 Td (963) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 494.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 494.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.50 494.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.50 494.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 494.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 481.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.60 481.85 Td (The Ef) Tj ET Q q 0 0 0 rg BT 293.52 481.85 Td (fect of Derivative Instruments in the Statement of Operations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 468.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.90 468.85 Td (For the ) Tj ET Q q 0 0 0 rg BT 332.71 468.85 Td (Three Months Ended March31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 447.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.50 447.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.05 455.85 Td (Recognized in Income on Derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.50 447.85 Td (\(pre-tax\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 434.83 Td (T) Tj ET Q q 0 0 0 rg BT 57.24 434.83 Td (ypes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.80 434.85 Td (Description) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.75 434.85 Td (Location) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.20 434.85 Td (Net Gain\(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 421.17 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 420.27 Td (Futures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 420.27 Td (Principaltransactionsrevenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 420.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 420.27 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 406.17 Td (Other contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 405.27 Td (Foreign exchange forward contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 405.27 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 405.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 390.27 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 390.27 Td (Principal transactions revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 390.32 Td (\(127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 390.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 375.27 Td (Other ) Tj ET Q q 0 0 0 rg BT 226.68 375.27 Td (TBAs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 375.27 Td (Other revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 375.27 Td (320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 360.27 Td (ARS purchase commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.50 360.27 Td (Principal transactions revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 360.27 Td (315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 345.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 345.27 Td (754) Tj ET Q BT /F1 18.00 Tf ET q 0 0 0 rg BT 564.50 341.10 Td () Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (7. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Collateralized transactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (The Company enters into collateralized borrowing and lending transactions in order to meet customers' needs and earn interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (rate spreads, obtain securities for settlement and finance trading inventory positions. Under these transactions, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (either receives or provides collateral, including U.S. Government and ) Tj ET Q q 0 0 0 rg BT 329.41 647.25 Td (Agency) Tj ET Q q 0 0 0 rg BT 359.86 647.25 Td (, asset-backed, corporate debt, equity) Tj ET Q q 0 0 0 rg BT 507.76 647.25 Td (, and non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (U.S. Government and ) Tj ET Q q 0 0 0 rg BT 138.66 635.25 Td (Agency securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (The Company obtains short-term borrowings primarily through bank call loans. Bank call loans are generally payable on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (demand and bear interest at various rates but not exceeding the broker call rate. ) Tj ET Q q 0 0 0 rg BT 368.54 599.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.98 599.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.58 599.25 Td (, bank call loans were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.25 Td ($147.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.39 587.25 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.22 587.25 Td ($1) Tj ET Q q 0 0 0 rg BT 123.85 587.25 Td (18.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.74 587.25 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.90 587.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.49 587.25 Td (\). ) Tj ET Q q 0 0 0 rg BT 283.26 587.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.71 587.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.31 587.25 Td (, such loans were collateralized by firm and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (customer securities with market values of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.60 575.25 Td ($94.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.49 575.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.93 575.25 Td ($308.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.82 575.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 463.48 575.25 Td (, with commercial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.25 Td (banks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 539.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 539.25 Td (, the Company had approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.84 539.25 Td ($1.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.96 539.25 Td ( of customer securities under customer mar) Tj ET Q q 0 0 0 rg BT 494.50 539.25 Td (gin loans that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.25 Td (are available to be pledged, of which the Company has re-pledged approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.88 527.25 Td ($155.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.77 527.25 Td ( under securities loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 491.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 491.25 Td (, the Company had pledged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.74 491.25 Td ($534.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.63 491.25 Td ( of customer securities directly with the Options Clearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.25 Td (Corporation to secure obligations and mar) Tj ET Q q 0 0 0 rg BT 217.89 479.25 Td (gin requirements under option contracts written by customers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 455.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 455.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.58 455.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.58 455.25 Td ( outstanding letters of credit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.25 Td (transactions to, among other things, acquire securities to cover short positions and settle other securities obligations, to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (accommodate customers' needs and to finance the Company's inventory positions. Except as described below) Tj ET Q q 0 0 0 rg BT 486.22 407.25 Td (, repurchase and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.25 Td (reverse repurchase agreements, principally involving U.S. Government and ) Tj ET Q q 0 0 0 rg BT 353.02 395.25 Td (Agency securities, are carried at amounts at which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.25 Td (the securities subsequently will be resold or reacquired as specified in the respective agreements and include accrued interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.25 Td (Repurchase agreements and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.25 Td (agreements and reverse repurchase agreements are executed with the same counterparty) Tj ET Q q 0 0 0 rg BT 400.34 359.25 Td (, have the same explicit settlement date, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.25 Td (are executed in accordance with a master netting arrangement, the securities underlying the repurchase agreements and reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.25 Td (repurchase agreements exist in "book entry" form and certain other requirements are met.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.25 Td (contractual maturity of the repurchase agreements and securities loaned transactions as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.47 299.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.07 299.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.75 438.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 256.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.75 438.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 226.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 196.75 438.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 196.75 75.00 -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 488 256.75 m 563 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 196.75 m 563 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 182.75 m 563 182.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 180.75 m 563 180.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 274.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 274.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.30 261.00 Td (Overnight and Open) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 246.42 Td (Repurchase agreements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 231.42 Td (U.S. Government and ) Tj ET Q q 0 0 0 rg BT 159.93 231.42 Td (Agency securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 231.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 231.42 Td (675,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 216.42 Td (Securities loaned:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 201.42 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 201.42 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 186.42 Td (Gross amount of recognized liabilities for repurchase agreements and securities loaned) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 186.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 186.42 Td (849,568) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The following tables present the gross amounts and the of) Tj ET Q q 0 0 0 rg BT 280.66 695.10 Td (fsetting amounts of reverse repurchase agreements, repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (agreements, securities borrowed and securities loaned transactions as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.40 683.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 683.10 Td ( and December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.02 683.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.02 683.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 574.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 574.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 574.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 544.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 544.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 544.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 544.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 544.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 544.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 544.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 544.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 544.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 544.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 544.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 544.60 55.00 -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 50 653.6 m 213 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 653.6 m 268 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 653.6 m 272 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 653.6 m 327 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 653.6 m 331 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 653.6 m 386 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 653.6 m 390 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 653.6 m 445 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 653.6 m 449 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 653.6 m 504 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 653.6 m 508 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 653.6 m 563 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 619.6 m 445 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 619.6 m 449 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 619.6 m 504 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 574.6 m 268 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 574.6 m 327 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 574.6 m 386 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 619.6 m 445 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 574.6 m 445 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 574.6 m 504 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 574.6 m 563 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 574.6 m 268 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 574.6 m 327 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 574.6 m 445 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 574.6 m 504 574.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 544.6 m 268 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 544.6 m 327 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 544.6 m 386 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 544.6 m 445 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 544.6 m 504 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 544.6 m 563 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 530.6 m 268 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 528.6 m 268 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 530.6 m 327 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 528.6 m 327 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 530.6 m 386 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 528.6 m 386 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 530.6 m 445 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 528.6 m 445 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 530.6 m 504 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 528.6 m 504 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 530.6 m 563 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 528.6 m 563 528.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.95 657.17 Td (As of March 31, 2018) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 644.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 644.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 623.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 623.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 623.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 623.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 631.85 Td (Gross) Tj ET Q q 0 0 0 rg BT 423.98 631.85 Td (AmountsNotOf) Tj ET Q q 0 0 0 rg BT 477.61 631.85 Td (fset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 623.85 Td (on the Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 623.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 578.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.65 602.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 594.85 Td (Amountsof) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.10 586.85 Td (Recognized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.55 578.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 602.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 594.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.15 586.85 Td (Of) Tj ET Q q 0 0 0 rg BT 286.45 586.85 Td (fsetonthe) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.20 578.85 Td (Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 610.85 Td (Net) Tj ET Q q 0 0 0 rg BT 349.86 610.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.40 602.85 Td (of ) Tj ET Q q 0 0 0 rg BT 351.62 602.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 594.85 Td (Presented on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.20 586.85 Td (the Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.10 578.85 Td (Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 586.85 Td (Financial) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.10 578.85 Td (Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.00 594.85 Td (Cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.20 586.85 Td (Collateral) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.10 578.85 Td (Received) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 578.85 Td (Net) Tj ET Q q 0 0 0 rg BT 528.41 578.85 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 565.17 Td (Reverse repurchase agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.65 564.27 Td (98,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 564.32 Td (\(98,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 564.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.15 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 564.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 564.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 549.27 Td (Securities borrowed ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 135.25 553.34 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 549.27 Td (1) Tj ET Q q 0 0 0 rg BT 236.65 549.27 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 549.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 549.27 Td (1) Tj ET Q q 0 0 0 rg BT 354.65 549.27 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 549.32 Td (\(1) Tj ET Q q 0 0 0 rg BT 413.63 549.32 Td (10,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 549.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 549.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 549.27 Td (2,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 535.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 534.27 Td (21) Tj ET Q q 0 0 0 rg BT 241.65 534.27 Td (1,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 534.32 Td (\(98,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 534.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 534.27 Td (1) Tj ET Q q 0 0 0 rg BT 354.65 534.27 Td (12,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 534.32 Td (\(1) Tj ET Q q 0 0 0 rg BT 413.63 534.32 Td (10,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 534.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 534.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 534.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 534.27 Td (2,075) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 512.10 Td (Included in receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 324.38 512.10 Td (ganizations on the condensed consolidated balance sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 429.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 429.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 399.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 399.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 399.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 399.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 399.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 399.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 399.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 399.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 399.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 399.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 399.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 399.60 55.00 -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 390 474.6 m 445 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 474.6 m 449 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 474.6 m 504 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 429.6 m 268 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 429.6 m 327 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 429.6 m 386 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 429.6 m 445 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 429.6 m 504 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 429.6 m 563 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 429.6 m 268 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 429.6 m 327 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 429.6 m 445 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 429.6 m 504 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 429.6 m 563 429.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 399.6 m 268 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 399.6 m 327 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 399.6 m 386 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 399.6 m 445 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 399.6 m 504 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 399.6 m 563 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 385.6 m 268 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 383.6 m 268 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 385.6 m 327 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 383.6 m 327 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 385.6 m 386 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 383.6 m 386 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 385.6 m 445 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 383.6 m 445 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 385.6 m 504 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 383.6 m 504 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 385.6 m 563 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 383.6 m 563 383.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 478.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 478.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 478.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 478.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 486.85 Td (Gross) Tj ET Q q 0 0 0 rg BT 423.98 486.85 Td (AmountsNotOf) Tj ET Q q 0 0 0 rg BT 477.61 486.85 Td (fset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 478.85 Td (on the Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 478.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 433.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.65 457.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 449.85 Td (Amounts of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.10 441.85 Td (Recognized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.75 433.85 Td (Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 457.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 449.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.15 441.85 Td (Of) Tj ET Q q 0 0 0 rg BT 286.45 441.85 Td (fseton the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.20 433.85 Td (Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 465.85 Td (Net) Tj ET Q q 0 0 0 rg BT 349.86 465.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 457.85 Td (of Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 449.85 Td (Presented on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.20 441.85 Td (the Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.10 433.85 Td (Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 441.85 Td (Financial) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.10 433.85 Td (Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.00 449.85 Td (Cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.20 441.85 Td (Collateral) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.10 433.85 Td (Pledged) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 433.85 Td (Net) Tj ET Q q 0 0 0 rg BT 528.41 433.85 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.17 Td (Repurchase agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 419.27 Td (675,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 419.32 Td (\(98,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 419.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 419.27 Td (576,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 419.32 Td (\(573,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 419.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 419.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 419.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 419.27 Td (2,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.27 Td (Securities loaned ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 123.59 408.34 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 404.27 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 404.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 404.27 Td (174,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 404.32 Td (\(167,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 404.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 404.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 404.27 Td (6,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 390.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 390.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 389.27 Td (849,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 389.32 Td (\(98,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 389.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 389.27 Td (750,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 389.32 Td (\(741,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 389.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 389.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 389.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 389.27 Td (9,255) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 385.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 367.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 367.10 Td (Included in payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 302.73 367.10 Td (ganizations on the condensed consolidated balance sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 256.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 256.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 256.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 256.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 256.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 256.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 226.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 226.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 226.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 226.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 226.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 226.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 226.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 226.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 226.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 226.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 226.60 55.00 -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 50 335.6 m 213 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 335.6 m 268 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 335.6 m 272 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 335.6 m 327 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 335.6 m 331 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 335.6 m 386 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 335.6 m 390 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 335.6 m 445 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 335.6 m 449 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 335.6 m 504 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 335.6 m 508 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 335.6 m 563 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 301.6 m 445 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 301.6 m 449 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 301.6 m 504 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 256.6 m 268 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 256.6 m 327 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 256.6 m 386 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 301.6 m 445 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 256.6 m 445 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 256.6 m 504 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 256.6 m 563 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 256.6 m 268 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 256.6 m 327 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 256.6 m 445 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 256.6 m 504 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 226.60000000000002 m 268 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 226.60000000000002 m 327 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 226.60000000000002 m 386 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 226.60000000000002 m 445 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 226.60000000000002 m 504 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 226.60000000000002 m 563 226.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 212.60000000000002 m 268 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 210.60000000000002 m 268 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 212.60000000000002 m 327 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 210.60000000000002 m 327 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 212.60000000000002 m 386 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 210.60000000000002 m 386 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 212.60000000000002 m 445 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 210.60000000000002 m 445 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 212.60000000000002 m 504 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 210.60000000000002 m 504 210.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 212.60000000000002 m 563 212.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 210.60000000000002 m 563 210.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.45 340.27 Td (As of December 31, 2017) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 326.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 326.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 326.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 305.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 305.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 305.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 305.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 313.85 Td (Gross) Tj ET Q q 0 0 0 rg BT 424.20 313.85 Td (AmountsNotOf) Tj ET Q q 0 0 0 rg BT 477.68 313.85 Td (fset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 305.85 Td (on the Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 305.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 260.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.65 284.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 276.85 Td (Amountsof) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.10 268.85 Td (Recognized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 229.55 260.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 284.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 276.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.15 268.85 Td (Of) Tj ET Q q 0 0 0 rg BT 286.52 268.85 Td (fseton the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.20 260.85 Td (Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 292.85 Td (Net) Tj ET Q q 0 0 0 rg BT 350.08 292.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.40 284.85 Td (of ) Tj ET Q q 0 0 0 rg BT 351.84 284.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 276.85 Td (Presented on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.20 268.85 Td (the Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.10 260.85 Td (Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 268.85 Td (Financial) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.10 260.85 Td (Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.00 276.85 Td (Cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.20 268.85 Td (Collateral) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.10 260.85 Td (Received) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 260.85 Td (Net) Tj ET Q q 0 0 0 rg BT 528.41 260.85 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 247.17 Td (Reverse repurchase agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 246.27 Td (200,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 246.32 Td (\(200,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 246.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.15 246.27 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 246.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 246.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 246.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 246.27 Td (658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 231.27 Td (Securities borrowed ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 135.25 235.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 231.27 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 231.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 231.27 Td (132,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 231.32 Td (\(128,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 231.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 231.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 231.27 Td (3,793) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 217.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 216.27 Td (333,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 216.32 Td (\(200,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 216.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 216.27 Td (133,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 216.32 Td (\(128,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 216.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 216.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 216.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 216.27 Td (4,451) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 212.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 194.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 194.10 Td (Included in receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 324.38 194.10 Td (ganizations on the condensed consolidated balance sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 111.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 111.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 111.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 111.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 111.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 111.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 111.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 81.60 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 81.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 81.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 81.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 81.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 81.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 81.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 81.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 81.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 81.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 81.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 81.60 55.00 -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 390 156.60000000000002 m 445 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 156.60000000000002 m 449 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 156.60000000000002 m 504 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 111.60000000000002 m 268 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 111.60000000000002 m 327 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 111.60000000000002 m 386 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 111.60000000000002 m 445 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 111.60000000000002 m 504 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 111.60000000000002 m 563 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 111.60000000000002 m 268 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 111.60000000000002 m 327 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 111.60000000000002 m 445 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 111.60000000000002 m 504 111.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 81.60000000000002 m 268 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 81.60000000000002 m 327 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 81.60000000000002 m 386 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 81.60000000000002 m 445 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 81.60000000000002 m 504 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 81.60000000000002 m 563 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 67.60000000000002 m 268 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 65.60000000000002 m 268 65.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 67.60000000000002 m 327 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 65.60000000000002 m 327 65.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 67.60000000000002 m 386 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331 65.60000000000002 m 386 65.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 67.60000000000002 m 445 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 65.60000000000002 m 445 65.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 67.60000000000002 m 504 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 65.60000000000002 m 504 65.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 67.60000000000002 m 563 67.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 65.60000000000002 m 563 65.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 160.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 215.50 160.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.50 160.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.50 160.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 168.85 Td (Gross) Tj ET Q q 0 0 0 rg BT 423.98 168.85 Td (AmountsNotOf) Tj ET Q q 0 0 0 rg BT 477.61 168.85 Td (fset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 160.85 Td (on the Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 160.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 115.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.65 139.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.00 131.85 Td (Amounts of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 221.10 123.85 Td (Recognized) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.75 115.85 Td (Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 289.65 139.85 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 131.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 278.15 123.85 Td (Of) Tj ET Q q 0 0 0 rg BT 286.45 123.85 Td (fseton the ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.20 115.85 Td (Balance Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.75 147.85 Td (Net) Tj ET Q q 0 0 0 rg BT 349.86 147.85 Td (Amounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 139.85 Td (of Liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.40 131.85 Td (Presented on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.20 123.85 Td (the Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.10 115.85 Td (Sheet) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.10 123.85 Td (Financial) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.10 115.85 Td (Instruments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.00 131.85 Td (Cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.20 123.85 Td (Collateral) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.10 115.85 Td (Pledged) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 115.85 Td (Net) Tj ET Q q 0 0 0 rg BT 528.41 115.85 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 102.17 Td (Repurchase agreements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 101.27 Td (786,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 101.32 Td (\(200,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 101.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 101.27 Td (586,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 101.32 Td (\(585,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 101.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 101.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 101.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 101.27 Td (1,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 86.27 Td (Securities loaned ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 123.59 90.34 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 86.27 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 86.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 86.27 Td (180,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 86.32 Td (\(170,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 86.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 86.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 86.27 Td (10,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 72.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 72.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 71.27 Td (966,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.30 71.32 Td (\(200,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.15 71.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 71.27 Td (766,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 71.32 Td (\(755,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 71.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 71.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 71.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 71.27 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 71.27 Td (1,283) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 67.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 49.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 49.10 Td (Included in payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 302.73 49.10 Td (ganizations on the condensed consolidated balance sheet.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (Certain of the Company's repurchase agreements and reverse repurchase agreements are carried at fair value as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (Company's fair value option election. ) Tj ET Q q 0 0 0 rg BT 201.64 683.10 Td (The Company elected the fair value option for those repurchase agreements and reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (repurchase agreements that do not settle overnight or have an open settlement date. ) Tj ET Q q 0 0 0 rg BT 383.83 671.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.27 671.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.87 671.10 Td (, the Company did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (have any repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (The Company receives collateral in connection with securities borrowed and reverse repurchase agreement transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (customer mar) Tj ET Q q 0 0 0 rg BT 104.02 623.10 Td (gin loans. Under many agreements, the Company is permitted to sell or re-pledge the securities received \(e.g., use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (the securities to enter into securities lending transactions, or deliver to counterparties to cover short positions\). ) Tj ET Q q 0 0 0 rg BT 492.72 611.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.16 611.10 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 599.10 Td (, the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (agreements was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.58 587.10 Td ($109.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.48 587.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.31 587.10 Td ($127.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.20 587.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.36 587.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.94 587.10 Td (\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.71 587.10 Td ($98.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 587.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.43 587.10 Td ($221.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.32 587.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 575.10 Td (\), respectively) Tj ET Q q 0 0 0 rg BT 184.08 575.10 Td (, of which the Company has sold and re-pledged approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.40 575.10 Td ($13.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.29 575.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.12 575.10 Td ($30.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.01 575.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.16 563.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.74 563.10 Td (\) under securities loaned transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.46 563.10 Td ($98.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.36 563.10 Td ( under repurchase agreements \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.29 563.10 Td ($221.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.18 563.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.10 Td (as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.16 551.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.74 551.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.10 Td (The Company pledges certain of its securities owned for securities lending and repurchase agreements and to collateralize bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.10 Td (call loan transactions. ) Tj ET Q q 0 0 0 rg BT 138.73 515.10 Td (The carrying value of pledged securities owned that can be sold or re-pledged by the counterparty was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td ($688.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.39 503.10 Td (, as presented on the face of the condensed consolidated balance sheet as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.43 503.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.03 503.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.86 503.10 Td ($655.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.75 503.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 491.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 136.23 491.10 Td (The carrying value of securities owned by the Company that have been loaned or pledged to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (counterparties where those counterparties do not have the right to sell or re-pledge the collateral was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.79 479.10 Td ($94.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.68 479.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 467.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.93 467.10 Td ($97.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.82 467.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.98 467.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.56 467.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (The Company manages credit exposure arising from repurchase and reverse repurchase agreements by) Tj ET Q q 0 0 0 rg BT 459.24 443.10 Td (, in appropriate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 419.10 Td (, in the event of a customer default, the right to liquidate securities and the right to of) Tj ET Q q 0 0 0 rg BT 427.18 419.10 Td (fset a counterparty's rights and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 98.76 407.10 Td (The Company manages market risk of repurchase agreements and securities loaned by monitoring the market value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (of collateral held and the market value of securities receivable from others. It is the Company's policy to request and obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (additional collateral when exposure to loss exists. In the event the counterparty is unable to meet its contractual obligation to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (return the securities, the Company may be exposed to of) Tj ET Q q 0 0 0 rg BT 274.81 371.10 Td (f-balance sheet risk of acquiring securities at prevailing market prices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 60.98 347.10 Td (edit Concentrations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Credit concentrations may arise from trading, investing, underwriting and financing activities and may be impacted by changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (in economic, industry or political factors. In the normal course of business, the Company may be exposed to credit risk in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (event customers, counterparties including other brokers and dealers, issuers, banks, depositories or clearing or) Tj ET Q q 0 0 0 rg BT 489.47 305.10 Td (ganizations are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (unable to fulfill their contractual obligations. ) Tj ET Q q 0 0 0 rg BT 231.21 293.10 Td (The Company seeks to mitigate these risks by actively monitoring exposures and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (obtaining collateral as deemed appropriate. Included in receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 463.30 281.10 Td (ganizations as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 269.10 Td ( are receivables from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.71 269.10 Td (four) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.38 269.10 Td ( major U.S. broker) Tj ET Q q 0 0 0 rg BT 290.88 269.10 Td (-dealers totaling approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.34 269.10 Td ($89.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.23 269.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (The Company is obligated to settle transactions with brokers and other financial institutions even if its clients fail to meet their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (obligations to the Company) Tj ET Q q 0 0 0 rg BT 159.68 233.10 Td (. Clients are required to complete their transactions on the settlement date, generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.72 233.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.16 233.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.94 233.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.94 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (business days after the trade date. If clients do not fulfill their contractual obligations, the Company may incur losses. ) Tj ET Q q 0 0 0 rg BT 521.98 221.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (Company has clearing/participating arrangements with the National Securities Clearing Corporation, the Fixed Income Clearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (Corporation \("FICC"\), R.J. O'Brien& ) Tj ET Q q 0 0 0 rg BT 203.91 197.10 Td (Associates \(commodities transactions\), Mortgage-Backed Securities Division \(a division ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (of FICC\) and others. ) Tj ET Q q 0 0 0 rg BT 134.59 185.10 Td (W) Tj ET Q q 0 0 0 rg BT 143.63 185.10 Td (ith respect to its business in reverse repurchase and repurchase agreements, substantially all open ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (contracts as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.75 173.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.35 173.10 Td ( are with the FICC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.79 173.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.29 173.10 Td ( In addition, the Company clears its non-U.S. international equities business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (carried on by Oppenheimer Europe Ltd. through Global Prime Partners, Ltd. ) Tj ET Q q 0 0 0 rg BT 358.13 161.10 Td (The clearing or) Tj ET Q q 0 0 0 rg BT 419.03 161.10 Td (ganizations have the right to char) Tj ET Q q 0 0 0 rg BT 551.85 161.10 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (the Company for losses that result from a client's failure to fulfill its contractual obligations. ) Tj ET Q q 0 0 0 rg BT 419.55 149.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 468.89 149.10 Td (, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (credit exposures with these clearing brokers. ) Tj ET Q q 0 0 0 rg BT 230.09 137.10 Td (The clearing brokers can re-hypothecate the securities held on behalf of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 125.10 Td (. ) Tj ET Q q 0 0 0 rg BT 92.19 125.10 Td (As the right to char) Tj ET Q q 0 0 0 rg BT 169.21 125.10 Td (ge the Company has no maximum amount and applies to all trades executed through the clearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (brokers, the Company believes there is no maximum amount assignable to this right. ) Tj ET Q q 0 0 0 rg BT 390.28 113.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.72 113.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.32 113.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (recorded no liabilities with regard to this right. ) Tj ET Q q 0 0 0 rg BT 238.44 101.10 Td (The Company's policy is to monitor the credit standing of the clearing brokers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (and banks with which it conducts business.) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (8. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (V) Tj ET Q q 0 0 0 rg BT 91.80 695.25 Td (ariable inter) Tj ET Q q 0 0 0 rg BT 144.67 695.25 Td (est entities \("VIEs"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any ) Tj ET Q q 0 0 0 rg BT 516.30 671.25 Td (VIEs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (where the Company is deemed to be the primary beneficiary) Tj ET Q q 0 0 0 rg BT 290.71 659.25 Td (, when it has the power to make the decisions that most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (significantly af) Tj ET Q q 0 0 0 rg BT 109.58 647.25 Td (fect the economic performance of the ) Tj ET Q q 0 0 0 rg BT 261.54 647.25 Td (VIE and has the obligation to absorb significant losses or the right to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (receive benefits that could potentially be significant to the ) Tj ET Q q 0 0 0 rg BT 283.96 635.25 Td (VIE.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (For funds that the Company has concluded are not ) Tj ET Q q 0 0 0 rg BT 253.44 611.25 Td (VIEs, the Company then evaluates whether the fund is a partnership or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (similar entity) Tj ET Q q 0 0 0 rg BT 101.90 599.25 Td (. If the fund is a partnership or similar entity) Tj ET Q q 0 0 0 rg BT 278.43 599.25 Td (, the Company evaluates the fund under the partnership consolidation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.25 Td (guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner) Tj ET Q q 0 0 0 rg BT 458.72 587.25 Td (, unless presumption of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (control by the Company can be overcome. ) Tj ET Q q 0 0 0 rg BT 221.49 575.25 Td (This presumption is overcome only when unrelated investors in the fund have the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.25 Td (substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (simple majority vote of unaf) Tj ET Q q 0 0 0 rg BT 163.18 551.25 Td (filiated investors, or have other substantive participating rights. If the presumption of control can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (The Company serves as general partner of hedge funds and private equity funds that were established for the purpose of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.25 Td (providing investment alternatives to both its institutional and qualified retail clients. ) Tj ET Q q 0 0 0 rg BT 387.59 503.25 Td (The Company holds variable interests in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (these funds as a result of its right to receive management and incentive fees. ) Tj ET Q q 0 0 0 rg BT 356.16 491.25 Td (The Company's investment in and additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.25 Td (capital commitments to these hedge funds and private equity funds are also considered variable interests. ) Tj ET Q q 0 0 0 rg BT 471.41 479.25 Td (The Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.25 Td (additional capital commitments are subject to call at a later date and are limited to the amount committed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.25 Td (The Company assesses whether it is the primary beneficiary of the hedge funds and private equity funds in which it holds a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (variable interest in the form of general and limited partner interests. In each instance, the Company has determined that it is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.25 Td (the primary beneficiary and therefore need not consolidate the hedge funds or private equity funds. ) Tj ET Q q 0 0 0 rg BT 447.51 419.25 Td (The subsidiaries' general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (and limited partnership interests, additional capital commitments, and management fees receivable represent its maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.25 Td (exposure to loss. ) Tj ET Q q 0 0 0 rg BT 118.76 395.25 Td (The subsidiaries' general partnership and limited partnership interests and management fees receivable are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.25 Td (included in other assets on the condensed consolidated balance sheet.) Tj ET Q endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The following tables set forth the total ) Tj ET Q q 0 0 0 rg BT 205.12 695.10 Td (VIE assets, the carrying value of the subsidiaries' variable interests, and the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (maximum exposure to loss in Company-sponsored non-consolidated ) Tj ET Q q 0 0 0 rg BT 326.23 683.10 Td (VIEs in which the Company holds variable interests and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (other non-consolidated ) Tj ET Q q 0 0 0 rg BT 143.74 671.10 Td (VIEs in which the Company holds variable interests as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.47 671.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.07 671.10 Td ( and December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.09 671.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.09 671.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 584.60 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 584.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 584.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 554.60 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 554.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 554.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 554.60 65.00 -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 222 628.6 m 287 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 628.6 m 291 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 628.6 m 356 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 628.6 m 360 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 628.6 m 425 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 628.6 m 429 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 628.6 m 498 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 628.6 m 563 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 628.6 m 287 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 628.6 m 356 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 597.6 m 356 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 597.6 m 360 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 597.6 m 425 597.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 628.6 m 494 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 628.6 m 563 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 584.6 m 287 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 584.6 m 356 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 584.6 m 425 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 584.6 m 494 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 584.6 m 563 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 584.6 m 287 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 584.6 m 356 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 584.6 m 425 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 584.6 m 494 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 554.6 m 287 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 554.6 m 356 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 554.6 m 425 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 554.6 m 494 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 554.6 m 563 554.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 540.6 m 287 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 538.6 m 287 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 540.6 m 356 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 538.6 m 356 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 540.6 m 425 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 538.6 m 425 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 540.6 m 494 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 538.6 m 494 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 540.6 m 563 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 538.6 m 563 538.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 645.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 645.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.50 645.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.50 645.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.50 645.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.50 645.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.50 645.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 632.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.75 632.85 Td (As of March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 601.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 596.85 Td (T) Tj ET Q q 0 0 0 rg BT 250.13 596.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.05 588.85 Td (VIE) Tj ET Q q 0 0 0 rg BT 246.94 588.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 269.83 592.48 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.00 609.85 Td (Carrying) Tj ET Q q 0 0 0 rg BT 353.37 609.85 Td (V) Tj ET Q q 0 0 0 rg BT 358.63 609.85 Td (alueofthe) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.40 601.85 Td (Company's) Tj ET Q q 0 0 0 rg BT 349.99 601.85 Td (V) Tj ET Q q 0 0 0 rg BT 355.25 601.85 Td (ariableInterest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.40 596.85 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.30 588.85 Td (Commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.30 620.55 Td (Maximum) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.85 612.55 Td (Exposure) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.20 604.55 Td (toLoss in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.55 596.55 Td (Non-consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.75 588.55 Td (VIEs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 588.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.50 588.85 Td (Assets ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 331.39 592.48 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.75 588.85 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.17 Td (Hedge funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 574.27 Td (333,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 574.27 Td (671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 574.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 574.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 574.27 Td (671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 560.17 Td (Private equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 559.27 Td (15,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 559.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 559.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 559.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 559.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 545.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 545.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 544.27 Td (348,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 544.27 Td (683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 544.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 544.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 544.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 544.27 Td (685) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 540.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 522.10 Td (Represents the total assets of the ) Tj ET Q q 0 0 0 rg BT 218.06 522.10 Td (VIEs and does not represent the Company's interests in the ) Tj ET Q q 0 0 0 rg BT 455.74 522.10 Td (VIEs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 510.10 Td (Represents the Company's interests in the ) Tj ET Q q 0 0 0 rg BT 254.31 510.10 Td (VIEs and is included in other assets on the condensed consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 498.10 Td (sheet.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 411.60 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 411.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 411.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 411.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 411.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 411.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 411.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 411.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 411.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 411.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 381.60 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 381.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 381.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 381.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 381.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 381.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 381.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 381.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 381.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 381.60 65.00 -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 222 455.6 m 287 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 455.6 m 291 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 455.6 m 356 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 455.6 m 360 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 455.6 m 425 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 455.6 m 429 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 455.6 m 498 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 455.6 m 563 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 455.6 m 287 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 455.6 m 356 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 424.6 m 356 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 424.6 m 360 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 424.6 m 425 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 455.6 m 494 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 455.6 m 563 455.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 411.6 m 287 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 411.6 m 356 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 411.6 m 425 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 411.6 m 494 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 411.6 m 563 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 411.6 m 287 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 411.6 m 356 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 411.6 m 425 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 411.6 m 494 411.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 381.6 m 287 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 381.6 m 356 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 381.6 m 425 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 381.6 m 494 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 381.6 m 563 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 367.6 m 287 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 365.6 m 287 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 367.6 m 356 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 365.6 m 356 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 367.6 m 425 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 365.6 m 425 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 367.6 m 494 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 365.6 m 494 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 367.6 m 563 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 365.6 m 563 365.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 472.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 472.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.50 472.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.50 472.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 362.50 472.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.50 472.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.50 472.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 459.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.75 459.85 Td (As of December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 428.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 245.80 423.85 Td (T) Tj ET Q q 0 0 0 rg BT 250.13 423.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.05 415.85 Td (VIE) Tj ET Q q 0 0 0 rg BT 246.94 415.85 Td (Assets) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 269.83 419.48 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.00 436.85 Td (Carrying) Tj ET Q q 0 0 0 rg BT 353.37 436.85 Td (V) Tj ET Q q 0 0 0 rg BT 358.63 436.85 Td (alueofthe) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.40 428.85 Td (Company's) Tj ET Q q 0 0 0 rg BT 349.99 428.85 Td (V) Tj ET Q q 0 0 0 rg BT 355.25 428.85 Td (ariableInterest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.40 423.85 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.30 415.85 Td (Commitments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.30 447.55 Td (Maximum) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.85 439.55 Td (Exposure) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.20 431.55 Td (toLoss in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.55 423.55 Td (Non-consolidated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.75 415.55 Td (VIEs) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 415.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.50 415.85 Td (Assets ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 331.39 419.48 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.75 415.85 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 402.17 Td (Hedge funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 401.27 Td (328,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 401.27 Td (713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 401.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 401.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 401.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 401.27 Td (713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 387.17 Td (Private equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 386.27 Td (15,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 386.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 386.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 386.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 386.27 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 372.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 372.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.50 371.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 371.27 Td (343,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.50 371.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 371.27 Td (725) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 371.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 371.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 371.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 371.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 371.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 371.27 Td (727) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.50 367.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 349.10 Td (Represents the total assets of the ) Tj ET Q q 0 0 0 rg BT 218.06 349.10 Td (VIEs and does not represent the Company's interests in the ) Tj ET Q q 0 0 0 rg BT 455.74 349.10 Td (VIEs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 337.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 337.10 Td (Represents the Company's interests in the ) Tj ET Q q 0 0 0 rg BT 254.31 337.10 Td (VIEs and is included in other assets on the condensed consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 325.10 Td (sheet.) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (9. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Long-term debt) Tj ET Q BT /F1 6.00 Tf ET q 0 0 0 rg BT 49.50 688.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 651.55 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 651.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 651.55 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 651.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 651.55 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 651.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 651.55 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 621.55 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 621.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 621.55 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 621.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 621.55 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 621.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 621.55 75.00 -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 50 651.55 m 326 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 651.55 m 405 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 651.55 m 484 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 651.55 m 563 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 651.55 m 405 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 651.55 m 484 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 651.55 m 563 651.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 621.55 m 563 621.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 621.55 m 484 621.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 607.55 m 484 607.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 605.55 m 484 605.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 621.55 m 563 621.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 607.55 m 563 607.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 605.55 m 563 605.55 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 668.80 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 668.80 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.50 668.80 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.50 668.80 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 668.80 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 655.80 Td (Issued) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.45 655.80 Td (MaturityDate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.55 655.80 Td (March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.55 655.80 Td (December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 642.12 Td (6.75% Senior Secured Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.90 641.22 Td (7/1/2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 641.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 641.22 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 641.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 641.22 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 627.12 Td (Unamortized Debt Issuance Cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 626.27 Td (\(1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 626.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 626.27 Td (\(1,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 626.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 611.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 611.22 Td (198,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 611.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 611.22 Td (198,837) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 583.05 Td (6.75% Senior Secured Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 565.05 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.22 565.05 Td (June23, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.05 565.05 Td (, the Parent issued in a private of) Tj ET Q q 0 0 0 rg BT 250.95 565.05 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.32 565.05 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.21 565.05 Td ( aggregate principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.44 565.05 Td (6.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.27 565.05 Td ( Senior Secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 553.05 Td (Notes due 2022 \(the "Unregistered Notes"\) under an indenture at an issue price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.23 553.05 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.56 553.05 Td ( of the principal amount. On September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 541.05 Td (19, 2017, the Parent completed an exchange of) Tj ET Q q 0 0 0 rg BT 236.76 541.05 Td (fer in which the Parent exchanged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.59 541.05 Td (99.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.42 541.05 Td ( of its Unregistered Notes for a like ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 529.05 Td (principal amount of notes with identical terms except that such new notes have been registered under the Securities ) Tj ET Q q 0 0 0 rg BT 512.13 529.05 Td (Act of 1933, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 517.05 Td (as amended \(the "Notes"\). ) Tj ET Q q 0 0 0 rg BT 156.61 517.05 Td (The Parent did not receive any proceeds in the exchange of) Tj ET Q q 0 0 0 rg BT 393.00 517.05 Td (fer) Tj ET Q q 0 0 0 rg BT 403.55 517.05 Td (. Interest on the Notes is payable semi-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (annually on January 1st and July 1st, beginning January 1, 2018. On June 23, 2017, the Parent used a portion of the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 493.05 Td (proceeds from the of) Tj ET Q q 0 0 0 rg BT 132.34 493.05 Td (fering of the Notes to redeem in full its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.91 493.05 Td (8.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.74 493.05 Td ( Senior Secured Notes due ) Tj ET Q q 0 0 0 rg BT 424.77 493.05 Td (April 15, 2018 \(the "Old Notes"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.05 Td (in the principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.86 481.05 Td ($120.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.75 481.05 Td (, and pay all related fees and expenses related thereto. ) Tj ET Q q 0 0 0 rg BT 432.25 481.05 Td (The cost to issue the Notes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 469.05 Td ($4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 469.05 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.16 469.05 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.05 469.05 Td ( was paid to its subsidiary) Tj ET Q q 0 0 0 rg BT 293.01 469.05 Td (, Oppenheimer) Tj ET Q q 0 0 0 rg BT 352.03 469.05 Td (, who served as the initial purchaser of the of) Tj ET Q q 0 0 0 rg BT 531.79 469.05 Td (fering, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 457.05 Td (and was eliminated in consolidation. ) Tj ET Q q 0 0 0 rg BT 198.18 457.05 Td (The Company capitalized the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.17 457.05 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.07 457.05 Td ( and will amortize it over the term of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 445.05 Td (the Notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 421.05 Td (The indenture governing the Notes contains covenants that place restrictions on the incurrence of indebtedness, the payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 409.05 Td (dividends, the repurchase of equity) Tj ET Q q 0 0 0 rg BT 189.08 409.05 Td (, the sale of assets, mer) Tj ET Q q 0 0 0 rg BT 281.38 409.05 Td (gers and acquisitions and the granting of liens. Pursuant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 397.05 Td (indenture governing the Notes, the Parent is restricted from paying any dividend or making any payment or distribution on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 385.05 Td (account of its equity interests unless, among other things, \(i\) the dividend, payment or distribution \(together with all other such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.05 Td (dividends, payments or distributions made since July 1, 2017\) is less than an amount calculated based in part on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 361.05 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.22 361.05 Td (Adjusted Net Income \(as defined in the indenture governing the Notes\) of the Parent and its restricted and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.05 Td (regulated subsidiaries since July 1, 2017, or \(ii\) the dividend, payment or distribution fits within one or more exceptions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 337.05 Td (including: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 313.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 313.05 Td (it is less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.94 313.05 Td ($20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.33 313.05 Td ( in any fiscal year; or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 295.05 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 295.05 Td (when combined with all other Restricted Payments \(as defined in the indenture governing the Notes\) that rely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 283.05 Td (upon this exception, it does not exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.24 283.05 Td ($10 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.63 283.05 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 259.05 Td (The Notes provide for events of default including, among other things, nonpayment, breach of covenants and bankruptcy) Tj ET Q q 0 0 0 rg BT 532.88 259.05 Td (. ) Tj ET Q q 0 0 0 rg BT 537.70 259.05 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 247.05 Td (Parent's obligations under the Notes are guaranteed by certain of the Parent's subsidiaries and are secured by a first-priority ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 235.05 Td (security interest in substantially all of the assets of the Parent and the subsidiary's guarantors. ) Tj ET Q q 0 0 0 rg BT 424.37 235.05 Td (These guarantees and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 223.05 Td (collateral may be shared, on a pari passu basis, under certain circumstances, with debt incurred. ) Tj ET Q q 0 0 0 rg BT 433.53 223.05 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.97 223.05 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.57 223.05 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 211.05 Td (Parent was in compliance with all of its covenants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.05 Td (Interest expense for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.38 187.05 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.98 187.05 Td ( on the Notes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.58 187.05 Td ($3.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.47 187.05 Td (. ) Tj ET Q endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (37) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (8.75% Senior Secured Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.67 677.25 Td (April12, 201) Tj ET Q q 0 0 0 rg BT 116.91 677.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.91 677.25 Td (, the Parent issued in a private of) Tj ET Q q 0 0 0 rg BT 252.80 677.25 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.18 677.25 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.07 677.25 Td ( in aggregate principal amount of Old Notes at an issue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (price of 100% of the principal amount. Interest on the Old Notes was payable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.91 665.25 Td (semi-annually) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.56 665.25 Td ( on ) Tj ET Q q 0 0 0 rg BT 433.01 665.25 Td (April15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.61 665.25 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.61 665.25 Td ( and October15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.76 665.25 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.76 665.25 Td (. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (April15, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.11 653.25 Td (, the Parent retired early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.95 653.25 Td ($50.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.84 653.25 Td (of the Old Notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (The indenture for the Old Notes contained covenants, with which the Company was in compliance during 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.67 605.25 Td (April15, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.28 605.25 Td (, the Parent used the net proceeds from the asset sales of OMHHF to finance the redemption of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.11 605.25 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.01 605.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (aggregate principal amount of the Old Notes at a redemption price equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.89 593.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.22 593.25 Td ( of the principal, plus accrued and unpaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (On June 23, 2017, the Parent used a portion of the net proceeds from the of) Tj ET Q q 0 0 0 rg BT 350.08 557.25 Td (fering of the Notes to redeem in full its Old Notes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (the principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.58 545.25 Td ($120.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.48 545.25 Td ( and to satisfy and dischar) Tj ET Q q 0 0 0 rg BT 308.44 545.25 Td (ge all of its obligations under the indenture governing the Old ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (Notes \(the "8.75% Notes Indenture"\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (In connection with the satisfaction and dischar) Tj ET Q q 0 0 0 rg BT 235.37 509.25 Td (ge of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.86 509.25 Td (8.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.69 509.25 Td ( Notes Indenture, all of the obligations of the Parent and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (subsidiary guarantors \(other than certain customary provisions of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.48 497.25 Td (8.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.31 497.25 Td ( Notes Indenture, including those relating to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (compensation and indemnification of the trustee, that expressly survive pursuant to the terms of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.40 485.25 Td (8.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.23 485.25 Td ( Notes Indenture\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (were dischar) Tj ET Q q 0 0 0 rg BT 100.13 473.25 Td (ged and the guarantees of the subsidiary guarantors and the liens on the collateral securing the Old Notes were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (released on June 23, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (Interest expense for the three months ended March 31, 2017 on the Old Notes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.08 437.25 Td ($3.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.97 437.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (10. ) Tj ET Q q 0 0 0 rg BT 85.50 413.25 Td (Shar) Tj ET Q q 0 0 0 rg BT 105.88 413.25 Td (e capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (The Company's authorized share capital consists of \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.68 389.25 Td (50,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.68 389.25 Td ( shares of Preferred Stock, par value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.40 389.25 Td ($0.001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.90 389.25 Td ( per share; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.66 377.25 Td (50,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.66 377.25 Td ( shares of Class) Tj ET Q q 0 0 0 rg BT 173.10 377.25 Td (A) Tj ET Q q 0 0 0 rg BT 179.77 377.25 Td ( Stock, par value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.47 377.25 Td ($0.001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.97 377.25 Td ( per share; and \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.65 377.25 Td (99,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.15 377.25 Td ( shares of Class B Stock, par value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.52 377.25 Td ($0.001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.02 377.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (per share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.87 365.25 Td (No) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.09 365.25 Td ( Preferred Stock has been issued. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.77 365.25 Td (99,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.27 365.25 Td ( shares of Class B Stock have been issued and are outstanding.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (The Class) Tj ET Q q 0 0 0 rg BT 91.17 341.25 Td (A) Tj ET Q q 0 0 0 rg BT 97.83 341.25 Td ( Stock and the Class B Stock are equal in all respects except that the Class) Tj ET Q q 0 0 0 rg BT 396.65 341.25 Td (A) Tj ET Q q 0 0 0 rg BT 403.32 341.25 Td ( Stock is non-voting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (The following table reflects changes in the number of shares of Class) Tj ET Q q 0 0 0 rg BT 328.31 317.25 Td (A) Tj ET Q q 0 0 0 rg BT 334.98 317.25 Td ( Stock outstanding for the periods indicated:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 275.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 275.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 275.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 247.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 247.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 247.75 75.00 -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 409 287.75 m 484 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 287.75 m 488 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 287.75 m 563 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 275.75 m 484 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 275.75 m 563 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 275.75 m 484 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 275.75 m 563 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 233.75 m 484 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 233.75 m 563 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 220.75 m 484 220.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 218.75 m 484 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 220.75 m 563 220.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 218.75 m 563 218.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.90 292.00 Td (For the ) Tj ET Q q 0 0 0 rg BT 446.71 292.00 Td (Three Months Ended March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.00 279.70 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.00 279.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 266.32 Td (Class) Tj ET Q q 0 0 0 rg BT 76.39 266.32 Td (A) Tj ET Q q 0 0 0 rg BT 83.06 266.32 Td ( Stock outstanding, beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 266.32 Td (13,139,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 266.32 Td (13,261,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 252.32 Td (Issued pursuant to shared-based compensation plans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 252.32 Td (1,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 252.32 Td (179,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 238.32 Td (Repurchased and canceled pursuant to the stock buy-back) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 238.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 238.37 Td (\(257,783) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 238.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 224.32 Td (Class) Tj ET Q q 0 0 0 rg BT 76.12 224.32 Td (A) Tj ET Q q 0 0 0 rg BT 82.79 224.32 Td ( Stock outstanding, end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 224.32 Td (13,141,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 224.32 Td (13,182,332) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (Stock buy-back) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (On May 5, 2017, the Company announced that its board of directors approved a share repurchase program that authorizes the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (Company to purchase up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.98 665.10 Td (650,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.48 665.10 Td ( shares of the Company's Class ) Tj ET Q q 0 0 0 rg BT 320.72 665.10 Td (A) Tj ET Q q 0 0 0 rg BT 327.39 665.10 Td ( Stock, representing approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.85 665.10 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.18 665.10 Td ( of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.46 665.10 Td (13,178,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.46 665.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (then issued and outstanding shares of Class ) Tj ET Q q 0 0 0 rg BT 224.76 653.10 Td (A) Tj ET Q q 0 0 0 rg BT 231.43 653.10 Td ( Stock. ) Tj ET Q q 0 0 0 rg BT 261.53 653.10 Td (This authorization supplemented the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.82 653.10 Td (40,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.32 653.10 Td ( shares that remained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (authorized and available under the Company's previous share repurchase program covering up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.78 641.10 Td (665,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.28 641.10 Td ( shares of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Company's Class ) Tj ET Q q 0 0 0 rg BT 120.20 629.10 Td (A) Tj ET Q q 0 0 0 rg BT 126.87 629.10 Td ( Stock, which was announced on September 15, 2015, for a total of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.92 629.10 Td (690,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.42 629.10 Td ( shares authorized and available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (for repurchase.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.86 593.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.46 593.10 Td (, the Company did not purchase any shares of Class ) Tj ET Q q 0 0 0 rg BT 448.03 593.10 Td (A) Tj ET Q q 0 0 0 rg BT 454.70 593.10 Td ( Stock under this program. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 581.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 581.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.54 581.10 Td (508,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.04 581.10 Td ( shares remained available to be purchased under this program.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (Any such share purchases will be made by the Company from time to time in the open market at the prevailing open market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (price using cash on hand, in compliance with the applicable rules and regulations of the New ) Tj ET Q q 0 0 0 rg BT 423.18 545.10 Td (Y) Tj ET Q q 0 0 0 rg BT 429.40 545.10 Td (ork Stock Exchange and federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (and state securities laws and the terms of the Company's senior secured debt. ) Tj ET Q q 0 0 0 rg BT 359.37 533.10 Td (The Company will cancel all of the shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (repurchased. ) Tj ET Q q 0 0 0 rg BT 102.63 521.10 Td (The Company expects to continue the share repurchase program indefinitely) Tj ET Q q 0 0 0 rg BT 407.70 521.10 Td (. ) Tj ET Q q 0 0 0 rg BT 412.52 521.10 Td (The Company will base the timing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (and amounts of any purchases on market conditions and other factors including price, regulatory requirements and capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (availability) Tj ET Q q 0 0 0 rg BT 93.84 497.10 Td (. ) Tj ET Q q 0 0 0 rg BT 98.66 497.10 Td (The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (of Class ) Tj ET Q q 0 0 0 rg BT 83.95 485.10 Td (A) Tj ET Q q 0 0 0 rg BT 90.62 485.10 Td ( Stock. Depending on market conditions and other factors, the Company may commerce or suspend repurchases from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (time to time without notice.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (1) Tj ET Q q 0 0 0 rg BT 53.95 449.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 85.50 449.10 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (On December 22, 2017, the Federal government enacted Public Law 1) Tj ET Q q 0 0 0 rg BT 333.76 425.10 Td (15-97, commonly referred to as the ) Tj ET Q q 0 0 0 rg BT 477.14 425.10 Td (T) Tj ET Q q 0 0 0 rg BT 482.55 425.10 Td (ax Cuts and Jobs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (Act \("TCJA"\). ) Tj ET Q q 0 0 0 rg BT 109.97 413.10 Td (The ) Tj ET Q q 0 0 0 rg BT 127.84 413.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 151.18 413.10 Td ( makes broad and complex changes to the U.S. tax code, including, but not limited to: \(1\) reducing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (U.S. Federal corporate tax rate from 35 percent to 21 percent; \(2\) requiring companies to pay a one-time transition tax on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (certain unrepatriated earnings of foreign subsidiaries; \(3\) generally eliminating U.S. federal income taxes on dividends from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (foreign subsidiaries; \(4\) a new provision designed to tax global intangible low-taxed income \("GIL) Tj ET Q q 0 0 0 rg BT 444.51 377.10 Td (TI"\), which allows for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (possibility of using foreign tax credits \("FTCs"\) and a deduction of up to 50 percent to of) Tj ET Q q 0 0 0 rg BT 405.75 365.10 Td (fset the income tax liability \(subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (some limitations\); \(5\) limitations on the use of FTCs to reduce the U.S. income tax liability; \(6\) eliminating the corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (alternative minimum tax \("AMT"\) and changing how existing ) Tj ET Q q 0 0 0 rg BT 299.28 341.10 Td (AMT) Tj ET Q q 0 0 0 rg BT 321.32 341.10 Td ( credits can be realized; \(7\) creating the base erosion anti-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (abuse tax, a new minimum tax; \(8\) limitations on the deductibility of certain executive compensation; \(9\) creating a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (limitation on deductible interest expense; \(10\) eliminating the deductibility of entertainment expenses; and \(1) Tj ET Q q 0 0 0 rg BT 486.51 317.10 Td (1\) changing rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (On December 22, 2017, the SEC staf) Tj ET Q q 0 0 0 rg BT 197.62 281.10 Td (f issued SAB 1) Tj ET Q q 0 0 0 rg BT 257.53 281.10 Td (18 which provides guidance on accounting for the tax ef) Tj ET Q q 0 0 0 rg BT 482.56 281.10 Td (fects of the ) Tj ET Q q 0 0 0 rg BT 529.30 281.10 Td (TCJA. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (SAB 1) Tj ET Q q 0 0 0 rg BT 76.08 269.10 Td (18 provides a measurement period that should not extend beyond one year from the ) Tj ET Q q 0 0 0 rg BT 412.47 269.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 435.81 269.10 Td ( enactment date for companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (to complete the accounting under ) Tj ET Q q 0 0 0 rg BT 184.73 257.10 Td (ASC 740. ) Tj ET Q q 0 0 0 rg BT 226.51 257.10 Td (The Company has not completed its accounting for the income tax ef) Tj ET Q q 0 0 0 rg BT 502.63 257.10 Td (fects of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (elements of the ) Tj ET Q q 0 0 0 rg BT 112.91 245.10 Td (TCJA. However) Tj ET Q q 0 0 0 rg BT 178.05 245.10 Td (, the Company was able to make reasonable estimates of the ef) Tj ET Q q 0 0 0 rg BT 428.89 245.10 Td (fects of certain elements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (recorded a provisional estimate in the condensed consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 384.49 233.10 Td (The estimated enactment net discrete after) Tj ET Q q 0 0 0 rg BT 553.37 233.10 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (tax benefit incorporates assumptions made based upon the Company's current interpretations of the ) Tj ET Q q 0 0 0 rg BT 448.51 221.10 Td (TCJA, and may change as it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (receives additional clarification and implementation guidance and as the interpretation of the ) Tj ET Q q 0 0 0 rg BT 423.06 209.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 446.40 209.10 Td ( evolves over time. ) Tj ET Q q 0 0 0 rg BT 524.81 209.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (Company is expected to complete its analysis within the measurement period in accordance with SAB 1) Tj ET Q q 0 0 0 rg BT 465.41 197.10 Td (18.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.99 173.10 Td (ef) Tj ET Q q 0 0 0 rg BT 75.58 173.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 105.72 173.10 Td (income ) Tj ET Q q 0 0 0 rg BT 138.09 173.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 153.25 173.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 171.18 173.10 Td (from ) Tj ET Q q 0 0 0 rg BT 193.56 173.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 239.27 173.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 283.87 173.10 Td (for ) Tj ET Q q 0 0 0 rg BT 298.47 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.63 173.10 Td (first ) Tj ET Q q 0 0 0 rg BT 332.68 173.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 363.93 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.20 173.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 398.14 173.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.64 173.10 Td (30.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.47 173.10 Td ( ) Tj ET Q q 0 0 0 rg BT 445.41 173.10 Td (\(tax ) Tj ET Q q 0 0 0 rg BT 463.90 173.10 Td (expense\) ) Tj ET Q q 0 0 0 rg BT 502.37 173.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 544.74 173.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (24.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.33 161.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.99 161.10 Td (\(tax ) Tj ET Q q 0 0 0 rg BT 96.19 161.10 Td (benefit\) ) Tj ET Q q 0 0 0 rg BT 129.94 161.10 Td (for ) Tj ET Q q 0 0 0 rg BT 144.25 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.12 161.10 Td (first ) Tj ET Q q 0 0 0 rg BT 177.89 161.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 208.86 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.84 161.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 242.50 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.59 161.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 291.67 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.54 161.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 353.78 161.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 389.75 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.74 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.61 161.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 444.92 161.10 Td (ef) Tj ET Q q 0 0 0 rg BT 452.51 161.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 482.37 161.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 497.24 161.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 514.88 161.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 550.86 161.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.02 149.10 Td (discrete ) Tj ET Q q 0 0 0 rg BT 112.42 149.10 Td (items. ) Tj ET Q q 0 0 0 rg BT 138.73 149.10 Td (The ) Tj ET Q q 0 0 0 rg BT 156.59 149.10 Td (low ) Tj ET Q q 0 0 0 rg BT 173.91 149.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 214.54 149.10 Td (ef) Tj ET Q q 0 0 0 rg BT 222.13 149.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 251.65 149.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 266.18 149.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 283.47 149.10 Td (for ) Tj ET Q q 0 0 0 rg BT 297.45 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.98 149.10 Td (first ) Tj ET Q q 0 0 0 rg BT 330.40 149.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 361.03 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 371.67 149.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 393.99 149.10 Td (is ) Tj ET Q q 0 0 0 rg BT 402.97 149.10 Td (due ) Tj ET Q q 0 0 0 rg BT 419.72 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 429.81 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.34 149.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 469.43 149.10 Td (Federal ) Tj ET Q q 0 0 0 rg BT 501.72 149.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 516.25 149.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 533.55 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.20 149.10 Td (21% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (\(versus ) Tj ET Q q 0 0 0 rg BT 80.20 137.10 Td (35%\) ) Tj ET Q q 0 0 0 rg BT 103.67 137.10 Td (as ) Tj ET Q q 0 0 0 rg BT 113.81 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.07 137.10 Td (result ) Tj ET Q q 0 0 0 rg BT 144.10 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.24 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.27 137.10 Td (passage ) Tj ET Q q 0 0 0 rg BT 201.18 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.33 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 225.23 137.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 248.57 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 250.38 137.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.97 137.10 Td (December ) Tj ET Q q 0 0 0 rg BT 302.87 137.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 324.69 137.10 Td (of) Tj ET Q q 0 0 0 rg BT 332.84 137.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 349.09 137.10 Td (by ) Tj ET Q q 0 0 0 rg BT 360.90 137.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 391.59 137.10 Td (income ) Tj ET Q q 0 0 0 rg BT 422.84 137.10 Td (inclusion ) Tj ET Q q 0 0 0 rg BT 461.32 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.57 137.10 Td (lar) Tj ET Q q 0 0 0 rg BT 487.94 137.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 502.52 137.10 Td (non-deductible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 89.84 125.10 Td (related ) Tj ET Q q 0 0 0 rg BT 121.29 125.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.31 125.10 Td (items ) Tj ET Q q 0 0 0 rg BT 159.21 125.10 Td (such ) Tj ET Q q 0 0 0 rg BT 181.79 125.10 Td (as ) Tj ET Q q 0 0 0 rg BT 194.36 125.10 Td (entertainment, ) Tj ET Q q 0 0 0 rg BT 256.08 125.10 Td (fringe ) Tj ET Q q 0 0 0 rg BT 284.19 125.10 Td (benefits, ) Tj ET Q q 0 0 0 rg BT 322.59 125.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 367.93 125.10 Td (fines ) Tj ET Q q 0 0 0 rg BT 391.61 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.29 125.10 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 452.57 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.25 125.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 518.27 125.10 Td (around ) Tj ET Q q 0 0 0 rg BT 550.29 125.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (deductibility ) Tj ET Q q 0 0 0 rg BT 102.55 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.38 113.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 154.19 113.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 212.23 113.10 Td (under ) Tj ET Q q 0 0 0 rg BT 237.50 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.03 113.10 Td (TCJA. ) Tj ET Q endstream endobj 79 0 obj <>] /Rotate 0 /Contents 80 0 R>> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (12. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (Many aspects of the Company's business involve substantial risks of liability) Tj ET Q q 0 0 0 rg BT 356.17 671.25 Td (. In the normal course of business, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (has been named as defendant or co-defendant in various legal actions, including arbitrations, class actions and other litigation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (creating substantial exposure and periodic expenses. Certain of the actual or threatened legal matters include claims for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. ) Tj ET Q q 0 0 0 rg BT 452.26 635.25 Td (These proceedings arise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.25 Td (primarily from securities brokerage, asset management and investment banking activities. ) Tj ET Q q 0 0 0 rg BT 410.87 623.25 Td (The Company is also involved, from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (time to time, in other reviews, investigations and proceedings \(both formal and informal\) by governmental and self-regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (agencies regarding the Company's business, which may result in expenses, adverse judgments, settlements, fines, penalties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.25 Td (injunctions or other relief. ) Tj ET Q q 0 0 0 rg BT 156.23 587.25 Td (The investigations include inquiries from the Securities and Exchange Commission \(the "SEC"\), the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (Financial Industry Regulatory ) Tj ET Q q 0 0 0 rg BT 171.42 575.25 Td (Authority \("FINRA"\) and various state regulators. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (The Company accrues for estimated loss contingencies related to legal and regulatory matters when available information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (indicates that it is probable a liability had been incurred and the Company can reasonably estimate the amount of that loss. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.25 Td (many proceedings, however) Tj ET Q q 0 0 0 rg BT 161.56 527.25 Td (, it is inherently dif) Tj ET Q q 0 0 0 rg BT 237.76 527.25 Td (ficult to determine whether any loss is probable or even possible or to estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.25 Td (the amount of any loss. In addition, even where a loss is possible or an exposure to loss exists in excess of the liability already ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.25 Td (accrued with respect to a previously recognized loss contingency) Tj ET Q q 0 0 0 rg BT 308.76 503.25 Td (, it is often not possible to reasonably estimate the size of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (possible loss or range of loss or possible additional losses or range of additional losses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.25 Td (For certain legal and regulatory proceedings, the Company cannot reasonably estimate such losses, particularly for proceedings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.25 Td (that are in their early stages of development or where plaintif) Tj ET Q q 0 0 0 rg BT 293.67 455.25 Td (fs seek substantial, indeterminate or special damages. Counsel may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.25 Td (be required to review) Tj ET Q q 0 0 0 rg BT 134.09 443.25 Td (, analyze and resolve numerous issues, including through potentially lengthy discovery and determination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.25 Td (of important factual matters, and by addressing novel or unsettled legal questions relevant to the proceedings in question, before ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.25 Td (the Company can reasonably estimate a loss or range of loss or additional loss for the proceeding. Even after lengthy review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.25 Td (and analysis, the Company) Tj ET Q q 0 0 0 rg BT 156.61 407.25 Td (, in many legal and regulatory proceedings, may not be able to reasonably estimate possible losses or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.25 Td (range of loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.25 Td (For certain other legal and regulatory proceedings, the Company can estimate possible losses, or range of loss in excess of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.25 Td (amounts accrued, but does not believe, based on current knowledge and after consultation with counsel, that such losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.25 Td (individually) Tj ET Q q 0 0 0 rg BT 97.18 347.25 Td (, or in the aggregate, will have a material adverse ef) Tj ET Q q 0 0 0 rg BT 304.12 347.25 Td (fect on the Company's condensed consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.25 Td (statements as a whole.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.25 Td (For legal and regulatory proceedings where there is at least a reasonable possibility that a loss or an additional loss may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.25 Td (incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.04 299.25 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.04 299.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.82 299.25 Td ($38.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.71 299.25 Td (. ) Tj ET Q q 0 0 0 rg BT 497.53 299.25 Td (This estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.25 Td (aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.25 Td (where the Company can make an estimate for such losses. For certain cases, the Company does not believe that it can make an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.25 Td (estimate. ) Tj ET Q q 0 0 0 rg BT 87.64 263.25 Td (The foregoing aggregate estimate is based on various factors, including the varying stages of the proceedings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.25 Td (\(including the fact that many are currently in preliminary stages\), the numerous yet-unresolved issues in many of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.25 Td (proceedings and the attendant uncertainty of the various potential outcomes of such proceedings. ) Tj ET Q q 0 0 0 rg BT 438.83 239.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 488.16 239.25 Td (, the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.25 Td (estimate will change from time to time, and actual losses may be more than the current estimate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.25 Td (In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.25 Td (proceedings by the Regulators concerning Oppenheimer's marketing and sale of ) Tj ET Q q 0 0 0 rg BT 371.20 191.25 Td (ARS. Pursuant to the settlements with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.25 Td (Regulators, Oppenheimer agreed to extend of) Tj ET Q q 0 0 0 rg BT 231.48 179.25 Td (fers to repurchase ) Tj ET Q q 0 0 0 rg BT 304.50 179.25 Td (ARS from certain of its clients subject to certain terms and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.25 Td (conditions more fully described below) Tj ET Q q 0 0 0 rg BT 202.70 167.25 Td (. ) Tj ET Q q 0 0 0 rg BT 207.15 167.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.59 167.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.19 167.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.24 167.25 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.13 167.25 Td ( in outstanding ) Tj ET Q q 0 0 0 rg BT 483.52 167.25 Td (ARS purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (commitments related to the settlements with the Regulators. In addition to the settlements with the Regulators, Oppenheimer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 143.25 Td (has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.25 Td (obligated to purchase ) Tj ET Q q 0 0 0 rg BT 136.98 131.25 Td (ARS. Pursuant to completed Purchase Of) Tj ET Q q 0 0 0 rg BT 302.33 131.25 Td (fers \(as defined\) under the settlements with the Regulators and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 119.25 Td (client related legal settlements and awards to purchase ) Tj ET Q q 0 0 0 rg BT 268.86 119.25 Td (ARS, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.97 119.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.57 119.25 Td (, the Company purchased and holds \(net of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.25 Td (redemptions\) approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.02 107.25 Td ($88.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.91 107.25 Td ( in ) Tj ET Q q 0 0 0 rg BT 231.14 107.25 Td (ARS from its clients. In addition, the Company is committed to purchase another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.25 Td ($1) Tj ET Q q 0 0 0 rg BT 59.13 95.25 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.02 95.25 Td ( in ) Tj ET Q q 0 0 0 rg BT 115.25 95.25 Td (ARS from clients through 2020 under legal settlements and awards.) Tj ET Q endstream endobj 81 0 obj <>] /Rotate 0 /Contents 82 0 R>> endobj 82 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The Company's purchases of ) Tj ET Q q 0 0 0 rg BT 166.83 695.10 Td (ARS from its clients holding ) Tj ET Q q 0 0 0 rg BT 283.78 695.10 Td (ARS eligible for repurchase will, subject to the terms and conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (of the settlements with the Regulators, continue on a periodic basis. Pursuant to these terms and conditions, the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (required to conduct a financial review every ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.58 671.10 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.25 671.10 Td ( months, until the Company has extended Purchase Of) Tj ET Q q 0 0 0 rg BT 457.53 671.10 Td (fers to all Eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (Investors \(as defined\), to determine whether it has funds available, after giving ef) Tj ET Q q 0 0 0 rg BT 374.76 659.10 Td (fect to the financial and regulatory capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.10 Td (constraints applicable to the Company) Tj ET Q q 0 0 0 rg BT 202.15 647.10 Td (, to extend additional Purchase Of) Tj ET Q q 0 0 0 rg BT 338.04 647.10 Td (fers. ) Tj ET Q q 0 0 0 rg BT 357.85 647.10 Td (The financial review is based on the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (operating results, regulatory net capital, liquidity) Tj ET Q q 0 0 0 rg BT 244.08 635.10 Td (, and other ) Tj ET Q q 0 0 0 rg BT 288.51 635.10 Td (ARS purchase commitments outstanding under legal settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (and awards \(described below\). ) Tj ET Q q 0 0 0 rg BT 173.99 623.10 Td (There are no predetermined quantitative thresholds or formulas used for determining the final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (agreed upon amount for the Purchase Of) Tj ET Q q 0 0 0 rg BT 211.49 611.10 Td (fers. Upon completion of the financial review) Tj ET Q q 0 0 0 rg BT 393.27 611.10 Td (, the Company first meets with its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.10 Td (primary regulator) Tj ET Q q 0 0 0 rg BT 119.35 599.10 Td (, FINRA, and then with representatives of the NY) Tj ET Q q 0 0 0 rg BT 317.64 599.10 Td (AG and other regulators to present the results of the review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.10 Td (and to finalize the amount of the next Purchase Of) Tj ET Q q 0 0 0 rg BT 250.64 587.10 Td (fer) Tj ET Q q 0 0 0 rg BT 261.19 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 266.01 587.10 Td (V) Tj ET Q q 0 0 0 rg BT 272.12 587.10 Td (arious of) Tj ET Q q 0 0 0 rg BT 307.21 587.10 Td (fer scenarios are discussed in terms of which Eligible Investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (should receive a Purchase Of) Tj ET Q q 0 0 0 rg BT 165.94 575.10 Td (fer) Tj ET Q q 0 0 0 rg BT 176.49 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 181.31 575.10 Td (The primary criteria to date in terms of determining which Eligible Investors should receive a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (Purchase Of) Tj ET Q q 0 0 0 rg BT 98.47 563.10 Td (fer has been the amount of household account equity each Eligible Investor had with the Company in February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.10 Td (2008. Once various Purchase Of) Tj ET Q q 0 0 0 rg BT 179.01 551.10 Td (fer scenarios have been discussed, the regulators, not the Company) Tj ET Q q 0 0 0 rg BT 446.33 551.10 Td (, make the final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.10 Td (determination of which Purchase Of) Tj ET Q q 0 0 0 rg BT 194.28 539.10 Td (fer scenario to implement. ) Tj ET Q q 0 0 0 rg BT 301.56 539.10 Td (The terms of settlements provide that the amount of ) Tj ET Q q 0 0 0 rg BT 510.67 539.10 Td (ARS to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 527.10 Td (purchased during any period shall not risk placing the Company in violation of regulatory requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td (Eligible Investors for future buybacks continued to hold approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.38 503.10 Td ($21.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.27 503.10 Td ( of ) Tj ET Q q 0 0 0 rg BT 403.04 503.10 Td (ARS principal value as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.86 503.10 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 491.10 Td (. It is reasonably possible that some ) Tj ET Q q 0 0 0 rg BT 213.92 491.10 Td (ARS Purchase Of) Tj ET Q q 0 0 0 rg BT 284.85 491.10 Td (fers will need to be extended to Eligible Investors holding ) Tj ET Q q 0 0 0 rg BT 518.68 491.10 Td (ARS prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (to redemptions \(or tender of) Tj ET Q q 0 0 0 rg BT 161.51 479.10 Td (fers\) by issuers of the full amount that remains outstanding. ) Tj ET Q q 0 0 0 rg BT 402.11 479.10 Td (The potential additional losses that may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (result from entering into ) Tj ET Q q 0 0 0 rg BT 148.92 467.10 Td (ARS purchase commitments with Eligible Investors for future buybacks represents the estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 455.10 Td (ference between the principal value and the fair value. It is possible that the Company could sustain a loss of all or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (substantially all of the principal value of ) Tj ET Q q 0 0 0 rg BT 213.07 443.10 Td (ARS still held by Eligible Investors but such an outcome is highly unlikely) Tj ET Q q 0 0 0 rg BT 512.40 443.10 Td (. ) Tj ET Q q 0 0 0 rg BT 517.21 443.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (amount of potential additional losses resulting from entering into these commitments cannot be reasonably estimated due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (uncertainties surrounding the amounts and timing of future buybacks that result from the six-month financial review and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (amounts, scope, and timing of future issuer redemptions and tender of) Tj ET Q q 0 0 0 rg BT 329.25 407.10 Td (fers of ) Tj ET Q q 0 0 0 rg BT 357.02 407.10 Td (ARS held by Eligible Investors. ) Tj ET Q q 0 0 0 rg BT 486.83 407.10 Td (The range of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (potential additional losses related to valuation adjustments is between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.82 395.10 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.82 395.10 Td ( and the amount of the estimated dif) Tj ET Q q 0 0 0 rg BT 484.77 395.10 Td (ferential between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (the principal value and the fair value of ) Tj ET Q q 0 0 0 rg BT 208.88 383.10 Td (ARS held by Eligible Investors for future buybacks that were not yet purchased or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (committed to be purchased by the Company at any point in time. ) Tj ET Q q 0 0 0 rg BT 311.21 371.10 Td (The range of potential additional losses described here is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (included in the estimated range of aggregate loss in excess of amounts accrued for legal and regulatory proceedings described ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td (Outside of the settlements with the Regulators, the Company has also reached various legal settlements with clients and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (received unfavorable legal awards requiring it to purchase ) Tj ET Q q 0 0 0 rg BT 283.85 311.10 Td (ARS. ) Tj ET Q q 0 0 0 rg BT 308.12 311.10 Td (The terms and conditions including the ) Tj ET Q q 0 0 0 rg BT 466.42 311.10 Td (ARS amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (committed to be purchased under legal settlements and awards are based on the specific facts and circumstances of each legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (proceeding. In most instances, the purchase commitments are in increments and extend over a period of time. ) Tj ET Q q 0 0 0 rg BT 488.81 287.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.25 287.10 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 275.10 Td (, there were no ) Tj ET Q q 0 0 0 rg BT 130.86 275.10 Td (ARS purchase commitments related to legal settlements extending past 2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (The Company has sought, with limited success, financing from a number of sources to try to find a means for all its clients to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (find liquidity from their ) Tj ET Q q 0 0 0 rg BT 146.71 239.10 Td (ARS holdings and will continue to do so. ) Tj ET Q q 0 0 0 rg BT 314.03 239.10 Td (There can be no assurance that the Company will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (successful in finding a liquidity solution for all its clients' ) Tj ET Q q 0 0 0 rg BT 281.28 227.10 Td (ARS.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 73.67 203.10 Td (August of 2014, Oppenheimer has been responding to information requests from the SEC regarding the supervision of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (one of its former financial advisers who was indicted by the United States ) Tj ET Q q 0 0 0 rg BT 346.93 191.10 Td (Attorney's Of) Tj ET Q q 0 0 0 rg BT 401.04 191.10 Td (fice for the District of New Jersey in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (March 2014 on allegations of insider trading. ) Tj ET Q q 0 0 0 rg BT 232.24 179.10 Td (A) Tj ET Q q 0 0 0 rg BT 238.91 179.10 Td ( number of Oppenheimer employees have provided on-the-record testimony in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.10 Td (connection with the SEC inquiry) Tj ET Q q 0 0 0 rg BT 179.94 167.10 Td (. Oppenheimer is continuing to cooperate with the SEC inquiry) Tj ET Q q 0 0 0 rg BT 432.02 167.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 143.10 Td (Since September 2016, Oppenheimer has been responding to information requests from FINRA) Tj ET Q q 0 0 0 rg BT 432.20 143.10 Td ( \(including from FINRA's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.10 Td (Enforcement Department\) regarding the supervision of Oppenheimer's sale of unit investment trusts from 201) Tj ET Q q 0 0 0 rg BT 488.31 131.10 Td (1 to 2015. ) Tj ET Q q 0 0 0 rg BT 530.91 131.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 119.10 Td (inquiry is part of a lar) Tj ET Q q 0 0 0 rg BT 136.24 119.10 Td (ger tar) Tj ET Q q 0 0 0 rg BT 161.87 119.10 Td (geted examination or "sweep" examination involving many other brokerage firms. Oppenheimer is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.10 Td (continuing to cooperate with the FINRA) Tj ET Q q 0 0 0 rg BT 210.86 107.10 Td ( inquiry) Tj ET Q q 0 0 0 rg BT 241.60 107.10 Td (.) Tj ET Q endstream endobj 83 0 obj <>] /Rotate 0 /Contents 84 0 R>> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (13. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Regulatory r) Tj ET Q q 0 0 0 rg BT 140.03 695.25 Td (equir) Tj ET Q q 0 0 0 rg BT 162.62 695.25 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (The Company's U.S. broker dealer subsidiaries, Oppenheimer and Freedom, are subject to the uniform net capital requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (of the SEC under Rule 15c3-1 \(the "Rule"\) promulgated under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 400.07 659.25 Td (Act of 1934. Oppenheimer computes its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (net capital requirements under the alternative method provided for in the Rule which requires that Oppenheimer maintain net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.25 Td (capital equal to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.08 635.25 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 635.25 Td ( percent of aggregate customer) Tj ET Q q 0 0 0 rg BT 251.16 635.25 Td (-related debit items, as defined in SEC Rule 15c3-3. ) Tj ET Q q 0 0 0 rg BT 461.38 635.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.83 635.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.43 635.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.25 Td (the net capital of Oppenheimer as calculated under the Rule was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.12 623.25 Td ($147.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.01 623.25 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.34 623.25 Td (12.65%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.17 623.25 Td ( of Oppenheimer's aggregate debit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 611.25 Td (items. ) Tj ET Q q 0 0 0 rg BT 75.98 611.25 Td (This was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.31 611.25 Td ($123.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.21 611.25 Td ( in excess of the minimum required net capital at that date. Freedom computes its net capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 599.25 Td (requirement under the basic method provided for in the Rule, which requires that Freedom maintain net capital equal to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.25 Td (greater of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.58 587.25 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 587.25 Td ( or 6-2/3% of aggregate indebtedness, as defined. ) Tj ET Q q 0 0 0 rg BT 327.46 587.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.91 587.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.51 587.25 Td (, Freedom had net capital of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.19 587.25 Td ($5.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 575.25 Td (, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.38 575.25 Td ($5.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.27 575.25 Td ( in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.20 575.25 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.70 575.25 Td ( required to be maintained at that date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 551.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 551.25 Td (, the capital required and held under the Capital Requirements Directive \("CRD IV"\) for Oppenheimer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.25 Td (Europe Ltd. was as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 521.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 521.25 Td (Common Equity ) Tj ET Q q 0 0 0 rg BT 172.21 521.25 Td (T) Tj ET Q q 0 0 0 rg BT 177.97 521.25 Td (ier 1 ratio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.34 521.25 Td (13.81%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.17 521.25 Td ( \(required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.82 521.25 Td (4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.65 521.25 Td (\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 503.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 503.25 Td (T) Tj ET Q q 0 0 0 rg BT 109.26 503.25 Td (ier 1 Capital ratio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.01 503.25 Td (13.81%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.84 503.25 Td ( \(required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.49 503.25 Td (6.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.32 503.25 Td (\); and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 485.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 485.25 Td (T) Tj ET Q q 0 0 0 rg BT 108.91 485.25 Td (otal Capital ratio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.61 485.25 Td (14.73%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.44 485.25 Td ( \(required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.09 485.25 Td (8.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.92 485.25 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (In December 2017, Oppenheimer Europe Ltd. received approval from the Financial Conduct ) Tj ET Q q 0 0 0 rg BT 422.15 461.25 Td (Authority \("FCA"\) for a variation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (of permission to remove the limitation of "matched principal business" from the firm's scope of permitted businesses and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (become a "Full-Scope Prudential Sourcebook for Investment Firms \(IFPRU\) 730K" firm which was ef) Tj ET Q q 0 0 0 rg BT 464.91 437.25 Td (fective January 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (In addition to the capital requirement under CR) Tj ET Q q 0 0 0 rg BT 238.37 425.25 Td (V) Tj ET Q q 0 0 0 rg BT 245.41 425.25 Td ( IV) Tj ET Q q 0 0 0 rg BT 258.28 425.25 Td ( above, Oppenheimer Europe Ltd. is required to maintain a minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (capital of EUR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.98 413.25 Td (730,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.48 413.25 Td (. In December 2017, the Company contributed additional capital of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.51 413.25 Td ($7.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.40 413.25 Td ( to Oppenheimer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.25 Td (Europe Ltd. in order to facilitate this new permissioning.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.94 377.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.54 377.25 Td (, the regulatory capital of Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 348.03 377.25 Td (Asia Limited was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.07 377.25 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.96 377.25 Td (, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.95 377.25 Td ($1.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 365.25 Td ( in excess of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.32 365.25 Td ($387,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.82 365.25 Td ( required to be maintained on that date. Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 449.12 365.25 Td (Asia Limited computes its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (regulatory capital pursuant to the requirements of the Securities and Futures Commission of Hong Kong.) Tj ET Q endstream endobj 85 0 obj <>] /Rotate 0 /Contents 86 0 R>> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (14. ) Tj ET Q q 0 0 0 rg BT 85.50 695.25 Td (Segment information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.25 Td (The Company has determined its reportable segments based on the Company's method of internal reporting, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.25 Td (disaggregates its retail business by branch and its proprietary and investment banking businesses by product. ) Tj ET Q q 0 0 0 rg BT 486.45 659.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.25 Td (evaluates the performance of its segments and allocates resources to them based upon profitability) Tj ET Q q 0 0 0 rg BT 441.78 647.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.25 Td (The Company's reportable segments are:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (Private Client) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.44 605.25 Td ( includes commissions and a proportionate amount of fee income earned on assets under management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (\("AUM"\), net interest earnings on client mar) Tj ET Q q 0 0 0 rg BT 228.26 593.25 Td (gin loans and cash balances, fees from money market funds, net contributions from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (stock loan activities and financing activities, and direct expenses associated with this segment;) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (Asset Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.12 557.25 Td ( includes a proportionate amount of fee income earned on ) Tj ET Q q 0 0 0 rg BT 373.31 557.25 Td (AUM from investment management services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (of Oppenheimer ) Tj ET Q q 0 0 0 rg BT 116.70 545.25 Td (Asset Management Inc. Oppenheimer's asset management divisions employ various programs to manage client ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (Capital Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.90 509.25 Td ( includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (Kong and Israel, and direct expenses associated with this segment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (reportable segments. ) Tj ET Q q 0 0 0 rg BT 134.57 449.25 Td (These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (and benefits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.25 Td (The table below presents information about the reported revenue and income \(loss\) before income taxes from continuing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (operations of the Company for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.28 389.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.88 389.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.31 389.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.31 389.25 Td (. ) Tj ET Q q 0 0 0 rg BT 377.76 389.25 Td (Asset information by reportable segment is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (not reported, since the Company does not produce such information for internal use by the chief operating decision maker) Tj ET Q q 0 0 0 rg BT 536.86 377.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 321.75 359.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 321.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 321.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 321.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 292.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 292.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 292.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 247.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 247.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 247.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 247.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 218.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 218.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 218.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 218.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 188.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 188.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 188.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 188.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 173.75 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 173.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 173.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 173.75 75.00 -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 409 334.75 m 484 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 334.75 m 488 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 334.75 m 563 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 334.75 m 484 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 321.75 m 484 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 334.75 m 563 334.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 321.75 m 563 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 247.75 m 484 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 247.75 m 563 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 247.75 m 484 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 233.75 m 484 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 231.75 m 484 231.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 233.75 m 563 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 231.75 m 563 231.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 158.75 m 484 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 158.75 m 563 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 144.75 m 484 144.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 142.75 m 484 142.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 144.75 m 563 144.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 142.75 m 563 142.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 352.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 352.00 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.50 352.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 352.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 339.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.90 339.00 Td (For the ) Tj ET Q q 0 0 0 rg BT 446.71 339.00 Td (Three Months Ended March31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 326.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.00 326.00 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.00 326.00 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 312.48 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 298.32 Td (Private client ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 126.04 302.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 297.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 297.42 Td (154,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 297.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 297.42 Td (137,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 283.32 Td (Asset management ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 148.81 287.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 282.42 Td (17,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 282.42 Td (18,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 268.32 Td (Capital markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 267.42 Td (61,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 267.42 Td (55,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 253.32 Td (Corporate/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 252.42 Td (1,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 252.42 Td (1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 238.32 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 238.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 237.42 Td (234,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 237.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 237.42 Td (213,261) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 223.48 Td (Income \(loss\) befor) Tj ET Q q 0 0 0 rg BT 133.97 223.48 Td (e income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 209.32 Td (Private client ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 126.04 213.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 208.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 208.42 Td (40,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 208.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 208.42 Td (28,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 194.32 Td (Asset management ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 148.81 198.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 193.42 Td (3,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 193.42 Td (3,71) Tj ET Q q 0 0 0 rg BT 554.15 193.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 179.32 Td (Capital markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 178.47 Td (\(6,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 178.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 178.47 Td (\(12,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 178.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 164.32 Td (Corporate/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 163.47 Td (\(28,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 163.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 163.47 Td (\(26,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 163.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 149.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 149.32 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 148.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 148.42 Td (9,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 148.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 148.47 Td (\(7,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 148.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 126.25 Td (Clients investing in the OAM advisory program are char) Tj ET Q q 0 0 0 rg BT 311.38 126.25 Td (ged fees based on the value of ) Tj ET Q q 0 0 0 rg BT 433.83 126.25 Td (AUM. ) Tj ET Q q 0 0 0 rg BT 461.62 126.25 Td (Advisory fees are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 114.25 Td (allocated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.09 114.25 Td (10.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.92 114.25 Td ( to the ) Tj ET Q q 0 0 0 rg BT 176.86 114.25 Td (Asset Management and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.22 114.25 Td (90.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 114.25 Td ( to the Private Client segments.) Tj ET Q endstream endobj 87 0 obj <>] /Rotate 0 /Contents 88 0 R>> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (Revenue, classified by the major geographic areas in which it was earned for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.91 695.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.51 695.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.95 695.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.95 695.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (was as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 627.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 627.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 627.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 627.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 597.60 359.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 597.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.00 597.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 597.60 75.00 -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 409 640.6 m 484 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 640.6 m 488 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 640.6 m 563 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 640.6 m 484 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 627.6 m 484 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484 640.6 m 488 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 640.6 m 563 640.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 627.6 m 563 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 627.6 m 484 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 627.6 m 563 627.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 582.6 m 484 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 582.6 m 563 582.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 568.6 m 484 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 566.6 m 484 566.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 568.6 m 563 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 566.6 m 563 566.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 657.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 657.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.50 657.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 644.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.90 644.85 Td ( For the ) Tj ET Q q 0 0 0 rg BT 447.71 644.85 Td (Three Months Ended March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 631.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.00 631.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.00 631.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.17 Td (Americas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 617.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 617.27 Td (225,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 617.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 617.27 Td (203,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.17 Td (Europe/Middle East) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 602.27 Td (7,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 602.27 Td (8,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 588.17 Td (Asia) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 587.27 Td (1,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 587.27 Td (1,138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 573.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 572.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 572.27 Td (234,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 572.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 572.27 Td (213,261) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 544.10 Td (15. ) Tj ET Q q 0 0 0 rg BT 85.50 544.10 Td (Subsequent events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.10 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.67 520.10 Td (April27, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.28 520.10 Td (, the Company announced a quarterly dividend in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.54 520.10 Td ($0.1) Tj ET Q q 0 0 0 rg BT 397.67 520.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.67 520.10 Td ( per share, payable on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.63 520.10 Td (May25, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.46 520.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.10 Td (holders of Class) Tj ET Q q 0 0 0 rg BT 115.89 508.10 Td (A) Tj ET Q q 0 0 0 rg BT 122.56 508.10 Td ( Stock and Class B Stock of record on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.26 508.10 Td (May1) Tj ET Q q 0 0 0 rg BT 302.72 508.10 Td (1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.72 508.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 484.10 Td (16. ) Tj ET Q q 0 0 0 rg BT 85.50 484.10 Td (Condensed consolidating financial information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 460.10 Td (On June23, 2017, the Parent issued in a private of) Tj ET Q q 0 0 0 rg BT 250.95 460.10 Td (fering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.32 460.10 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.21 460.10 Td ( aggregate principal amount of the Notes. ) Tj ET Q q 0 0 0 rg BT 504.31 460.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.10 Td (used a portion of the net proceeds from the of) Tj ET Q q 0 0 0 rg BT 231.76 448.10 Td (fering of the Notes to redeem in full its Old Notes. See note 9 for further details.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.10 Td (The Notes are jointly and severally and fully and unconditionally guaranteed on a senior basis by E.A. ) Tj ET Q q 0 0 0 rg BT 461.15 424.10 Td (V) Tj ET Q q 0 0 0 rg BT 467.77 424.10 Td (iner International Co. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.26 412.10 Td (V) Tj ET Q q 0 0 0 rg BT 72.88 412.10 Td (iner Finance Inc. \(together) Tj ET Q q 0 0 0 rg BT 178.54 412.10 Td (, the "Guarantors"\), unless released as described below) Tj ET Q q 0 0 0 rg BT 397.37 412.10 Td (. 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.10 Td (Each Guarantor will be automatically and unconditionally released and dischar) Tj ET Q q 0 0 0 rg BT 365.04 352.10 Td (ged upon: the sale, exchange or transfer of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.10 Td (capital stock of a Guarantor and the Guarantor ceasing to be a direct or indirect subsidiary of the Parent if such sale does not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (constitute an asset sale under the indenture for the Notes or does not constitute an asset sale ef) Tj ET Q q 0 0 0 rg BT 425.59 328.10 Td (fected in compliance with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.10 Td (asset sale and mer) Tj ET Q q 0 0 0 rg BT 121.79 316.10 Td (ger covenants of the indenture for the Notes; a Guarantor being dissolved or liquidated; a Guarantor being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.10 Td (designated unrestricted in compliance with the applicable provisions of the Notes; or the exercise by the Parent of its legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (defeasance option or covenant defeasance option or the dischar) Tj ET Q q 0 0 0 rg BT 301.99 292.10 Td (ge of the Parent's obligations under the indenture for the Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.10 Td (in accordance with the terms of such indenture.) 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617.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 617.96 Td (42,715) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 605.21 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 156.12 605.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 604.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 604.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 604.96 Td (70,938) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 604.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 604.96 Td (70,938) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 592.21 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 235.87 592.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 591.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 591.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 591.96 Td (171,130) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 591.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 591.96 Td 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BT 497.15 504.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 504.96 Td (42,386) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 492.21 Td (Furniture, equipment and leasehold improvements, net of) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 483.71 Td (accumulated depreciation of $84,344) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 482.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 482.96 Td (21,182) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 432.50 482.96 Td (7,159) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 482.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 482.96 Td (28,341) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 470.21 Td (Subordinated loan receivable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 469.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 469.96 Td (1) Tj ET Q q 0 0 0 rg BT 367.25 469.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 469.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 469.96 Td (\(1) Tj ET Q 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(515,176) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 404.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 405.01 Td (\(1,147,207) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 404.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 404.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 392.21 Td (Intercompany receivables) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 313.25 391.96 Td (51,359) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 391.96 Td (50,632) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 391.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 391.96 Td (\(101,991) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 391.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 391.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 379.21 Td (T) Tj ET Q q 0 0 0 rg BT 75.40 379.21 Td (otal assets) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 378.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 378.96 Td (735,009) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 378.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 378.96 Td (733,445) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 378.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 417.65 378.96 Td (2,512,760) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 378.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 379.01 Td (\(1,447,238) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 378.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 378.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 525.60 378.96 Td (2,533,976) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 366.34 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 106.84 366.34 Td (AND ST) Tj ET Q q 0 0 0 rg BT 137.46 366.34 Td (OCKHOLDERS' EQUITY) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 353.34 Td (Liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 340.21 Td (Drafts payable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 339.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 339.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 339.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 339.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 339.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 339.96 Td (20,993) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 339.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 339.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 339.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 339.96 Td (20,993) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 327.21 Td (Bank call loans) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 326.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 326.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 326.96 Td (147,400) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 326.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 326.96 Td (147,400) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 314.21 Td (Payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 215.11 314.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 313.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 313.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 313.96 Td (255,126) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 313.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 313.96 Td (255,126) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 301.21 Td (Payable to customers) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 300.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 300.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 300.96 Td (445,085) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 300.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 300.96 Td (445,085) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 288.21 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 287.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 287.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 287.96 Td (576,017) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 287.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 287.96 Td (576,017) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 275.21 Td (Securities sold but not yet purchased, at fair value) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 274.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 274.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 274.96 Td (147,886) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 274.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 274.96 Td (147,886) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 262.21 Td (Accrued compensation) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 261.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 261.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 261.96 Td (103,751) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 261.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 261.96 Td (103,751) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 249.21 Td (Accounts payable and other liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 248.96 Td (3,523) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 248.96 Td (34,148) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 248.96 Td (56,501) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 248.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 248.96 Td (94,172) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 236.21 Td (Income tax payable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 235.96 Td (2,440) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 235.96 Td (22,189) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 235.96 Td (42,361) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 235.96 Td (\(66,990) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 235.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 235.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 223.21 Td (Senior secured notes, net of debt issuance cost of $1,098) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 222.96 Td (198,902) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 222.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 222.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 222.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 222.96 Td (198,902) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 210.21 Td (Subordinated indebtedness) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 209.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 209.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 209.96 Td (1) Tj ET Q q 0 0 0 rg BT 428.25 209.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 209.96 Td (\(1) Tj ET Q q 0 0 0 rg BT 482.23 209.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 209.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 209.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 197.21 Td (Deferred tax liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 196.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 386.40 196.96 Td (8) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 196.96 Td (32,619) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 196.96 Td (\(18,492) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 196.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 196.96 Td (14,135) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 184.21 Td (Intercompany payables) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 183.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 183.96 Td (28,140) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 183.96 Td (73,851) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 183.96 Td (\(101,991) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 183.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 183.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 171.21 Td (T) Tj ET Q q 0 0 0 rg BT 75.40 171.21 Td (otal liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 170.96 Td (204,865) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 170.96 Td (84,485) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 417.65 170.96 Td (2,014,148) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 170.96 Td (\(300,031) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 170.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 525.60 170.96 Td (2,003,467) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 158.34 Td (Stockholders' equity) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 145.21 Td (Stockholders' equity attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 144.96 Td (530,144) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 144.96 Td (648,960) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 144.96 Td (498,247) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 145.01 Td (\(1,147,207) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 144.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 144.96 Td (530,144) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 132.21 Td (Non-controlling interest) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 131.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 131.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 438.90 131.96 Td (365) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 131.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 546.90 131.96 Td (365) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 119.21 Td (T) Tj ET Q q 0 0 0 rg BT 75.40 119.21 Td (otal stockholders' equity) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 118.96 Td (530,144) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 118.96 Td (648,960) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 118.96 Td (498,612) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 119.01 Td (\(1,147,207) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 118.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 118.96 Td (530,509) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 106.21 Td (T) Tj ET Q q 0 0 0 rg BT 75.10 106.21 Td (otal liabilities and stockholders' equity) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 105.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 105.96 Td (735,009) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 105.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 105.96 Td (733,445) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 105.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 417.65 105.96 Td (2,512,760) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 105.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 106.01 Td (\(1,447,238) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 105.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 105.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 525.60 105.96 Td (2,533,976) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 91 0 obj <>] /Rotate 0 /Contents 92 0 R>> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 695.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.60 683.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 312.33 683.10 Td (TING BALANCE SHEET) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.70 671.10 Td (AS OF ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.27 671.10 Td (DECEMBER31, 2017) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 633.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 633.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 633.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 633.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 633.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 633.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 633.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 633.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 633.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 633.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 607.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 607.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 607.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 607.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 607.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 607.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 607.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 607.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 607.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 607.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 581.60 240.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 581.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 581.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 581.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 581.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 581.60 57.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 581.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 581.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 581.60 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 581.60 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 546.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 546.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 546.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 546.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 546.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 546.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 546.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 546.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 546.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 546.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 511.60 240.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 511.60 50.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 511.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 511.60 50.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 511.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 511.60 57.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 511.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 511.60 50.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 511.60 4.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 511.60 50.00 -30.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 459.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 459.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 459.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 459.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 459.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 459.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 459.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 459.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 459.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 459.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 433.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 433.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 433.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 433.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 433.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 433.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 433.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 407.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 407.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 407.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 407.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 407.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 407.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 407.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 407.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 407.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 407.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 381.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 381.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 381.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 381.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 381.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 381.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 381.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 381.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 381.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 381.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 355.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 355.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 355.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 355.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 355.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 355.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 355.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 355.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 355.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 355.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 329.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 329.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 329.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 329.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 329.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 329.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 329.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 329.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 329.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 329.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 303.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 303.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 303.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 303.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 303.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 303.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 303.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 303.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 303.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 303.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 277.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 277.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 277.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 277.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 277.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 277.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 277.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 277.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 277.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 277.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 251.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 251.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 251.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 251.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 251.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 251.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 251.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 251.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 251.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 251.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 225.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 225.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 225.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 225.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 225.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 225.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 225.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 225.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 225.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 225.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 199.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 199.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 199.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 199.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 199.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 199.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 199.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 199.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 199.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 199.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 173.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 173.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 173.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 173.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 173.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 173.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 173.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 173.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 173.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 173.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 147.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 147.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 147.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 147.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 147.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 147.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 147.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 147.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 147.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 147.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 121.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 121.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 121.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 121.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 121.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 121.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 121.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 121.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 121.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 121.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 95.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 95.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 95.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 95.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 95.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 95.60 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 95.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 95.60 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 95.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 95.60 50.00 -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 290 633.6 m 340 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 633.6 m 394 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 633.6 m 455 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 633.6 m 509 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 633.6 m 563 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 368.6 m 340 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 368.6 m 394 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 368.6 m 455 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 368.6 m 509 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 368.6 m 563 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 356.6 m 340 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 354.6 m 340 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 356.6 m 394 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 354.6 m 394 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 356.6 m 455 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 354.6 m 455 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 356.6 m 509 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 354.6 m 509 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 356.6 m 563 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 354.6 m 563 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 160.60000000000002 m 340 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 160.60000000000002 m 394 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 160.60000000000002 m 455 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 160.60000000000002 m 509 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 160.60000000000002 m 563 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 108.60000000000002 m 340 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 108.60000000000002 m 394 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 108.60000000000002 m 455 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 108.60000000000002 m 509 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 108.60000000000002 m 563 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 95.60000000000002 m 340 95.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 95.60000000000002 m 394 95.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 95.60000000000002 m 455 95.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 95.60000000000002 m 509 95.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 95.60000000000002 m 563 95.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 83.60000000000002 m 340 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 81.60000000000002 m 340 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 83.60000000000002 m 394 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 81.60000000000002 m 394 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 83.60000000000002 m 455 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 81.60000000000002 m 455 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 83.60000000000002 m 509 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 81.60000000000002 m 509 81.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 83.60000000000002 m 563 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 81.60000000000002 m 563 81.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 637.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 637.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.25 637.85 Td (Parent) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.25 645.85 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.60 637.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.45 645.85 Td (Non-guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.10 637.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.05 637.85 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 637.85 Td (Consolidated) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 625.34 Td (ASSETS) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 612.21 Td (Cash and cash equivalents) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 611.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 611.96 Td (7,442) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 611.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 371.50 611.96 Td (3,716) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 611.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 611.96 Td (36,996) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 611.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 611.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 611.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 611.96 Td (48,154) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 599.21 Td (Deposits with clearing or) Tj ET Q q 0 0 0 rg BT 156.12 599.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 598.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 598.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 598.96 Td (42,222) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 598.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 598.96 Td (42,222) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 586.21 Td (Receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 235.87 586.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 585.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 585.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 585.96 Td (187,1) Tj ET Q q 0 0 0 rg BT 443.13 585.96 Td (15) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 585.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 585.96 Td (187,1) Tj ET Q q 0 0 0 rg BT 551.13 585.96 Td (15) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 573.21 Td (Receivable from customers, net of allowance for credit losses) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 564.71 Td (of $769) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 563.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 563.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 563.96 Td (848,226) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 563.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 563.96 Td (848,226) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 551.21 Td (Income tax receivable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 313.25 550.96 Td (45,998) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 550.96 Td (26,025) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 550.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 550.96 Td (\(69,084) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 550.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 540.50 550.96 Td (2,939) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 538.21 Td (Securities purchased under agreements to resell) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 537.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 537.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 438.90 537.96 Td (658) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 537.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 546.90 537.96 Td (658) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 525.21 Td (Securities owned, including amounts pledged of $655,683, at) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 516.71 Td (fair value) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 515.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 371.50 515.96 Td (1,386) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 515.96 Td (925,21) Tj ET Q q 0 0 0 rg BT 447.38 515.96 Td (1) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 515.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 515.96 Td (926,597) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 503.21 Td (Notes receivable, net of accumulated amortization and) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 494.71 Td (allowance for uncollectibles of $24,705 and $7,975,) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 486.21 Td (respectively) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 485.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 485.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 485.96 Td (40,520) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 485.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 485.96 Td (40,520) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 473.21 Td (Furniture, equipment and leasehold improvements, net of) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 464.71 Td (accumulated depreciation of $82,826) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 463.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 463.96 Td (20,221) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 432.50 463.96 Td (6,966) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 463.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 463.96 Td (27,187) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 451.21 Td (Subordinated loan receivable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 450.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 450.96 Td (1) Tj ET Q q 0 0 0 rg BT 367.25 450.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 450.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 450.96 Td (\(1) Tj ET Q q 0 0 0 rg BT 482.23 450.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 450.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 450.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 438.21 Td (Intangible assets) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 437.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 437.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 437.96 Td (31,700) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 437.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 437.96 Td (31,700) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 425.21 Td (Goodwill) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 424.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 424.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 424.96 Td (137,889) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 424.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 424.96 Td (137,889) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 412.21 Td (Other assets) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 323.90 411.96 Td (133) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 371.50 411.96 Td (2,573) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 411.96 Td (142,604) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 411.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 411.96 Td (145,310) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 399.21 Td (Deferred tax assets) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 398.96 Td (3,502) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 398.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 398.96 Td (18,463) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 398.96 Td (\(21,965) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 398.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 398.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 386.21 Td (Investment in subsidiaries) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 385.96 Td (622,824) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 385.96 Td (507,747) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 385.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 386.01 Td (\(1,130,571) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 385.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 385.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 373.21 Td (Intercompany receivables) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 313.25 372.96 Td (52,149) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 372.96 Td (83,437) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 372.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 372.96 Td (\(135,586) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 372.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 372.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 360.21 Td (T) Tj ET Q q 0 0 0 rg BT 75.40 360.21 Td (otal assets) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 359.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 359.96 Td (732,048) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 359.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 363.00 359.96 Td (757,663) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 359.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 417.65 359.96 Td (2,418,570) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 359.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 468.80 360.01 Td (\(1,469,764) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 359.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 359.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 525.60 359.96 Td (2,438,517) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 347.34 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 106.84 347.34 Td (AND ST) Tj ET Q q 0 0 0 rg BT 137.46 347.34 Td (OCKHOLDERS' EQUITY) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 52.50 334.34 Td (Liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 321.21 Td (Drafts payable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 292.50 320.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 320.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.50 320.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 320.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 400.50 320.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 320.96 Td (42,412) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 461.50 320.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 320.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 515.50 320.96 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 320.96 Td (42,412) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 308.21 Td (Bank call loans) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 307.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 307.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 307.96 Td (1) Tj ET Q q 0 0 0 rg BT 428.25 307.96 Td (18,300) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 307.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 307.96 Td (1) Tj ET Q q 0 0 0 rg BT 536.25 307.96 Td (18,300) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 295.21 Td (Payable to brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 215.11 295.21 Td (ganizations) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 294.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 294.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 294.96 Td (21) Tj ET Q q 0 0 0 rg BT 432.50 294.96 Td (1,483) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 294.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 294.96 Td (21) Tj ET Q q 0 0 0 rg BT 540.50 294.96 Td (1,483) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 282.21 Td (Payable to customers) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 281.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 281.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 281.96 Td (385,907) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 281.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 281.96 Td (385,907) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 269.21 Td (Securities sold under agreements to repurchase) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 268.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 268.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 268.96 Td (586,478) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 268.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 268.96 Td (586,478) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 256.21 Td (Securities sold but not yet purchased, at fair value) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 255.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 255.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 255.96 Td (94,486) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 255.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 255.96 Td (94,486) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 243.21 Td (Accrued compensation) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 242.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 242.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 242.96 Td (173,1) Tj ET Q q 0 0 0 rg BT 443.13 242.96 Td (16) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 242.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 242.96 Td (173,1) Tj ET Q q 0 0 0 rg BT 551.13 242.96 Td (16) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 230.21 Td (Accounts payable and other liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 229.96 Td (7,221) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 229.96 Td (33,994) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 229.96 Td (51,280) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 229.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 229.96 Td (92,495) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 217.21 Td (Income tax payable) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 317.50 216.96 Td (2,440) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 367.25 216.96 Td (22,189) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 216.96 Td (44,455) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 216.96 Td (\(69,084) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 216.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 216.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 204.21 Td (Senior secured notes, net of debt issuance costs of $1,163) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 309.00 203.96 Td (198,837) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 203.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 443.15 203.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 497.15 203.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 532.00 203.96 Td (198,837) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 191.21 Td (Subordinated indebtedness) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 190.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 190.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 424.00 190.96 Td (1) Tj ET Q q 0 0 0 rg BT 428.25 190.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 475.15 190.96 Td (\(1) Tj ET Q q 0 0 0 rg BT 482.23 190.96 Td (12,558) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 190.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 551.15 190.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 178.21 Td (Deferred tax liabilities) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 177.96 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 177.96 Td (17) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 428.25 177.96 Td (33,040) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 479.40 177.96 Td (\(21,965) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 505.65 177.96 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.25 177.96 Td (1) Tj ET Q q 0 0 0 rg BT 540.50 177.96 Td (1,092) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 70.50 165.21 Td (Intercompany payables) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 328.15 164.96 Td () Tj 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50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 294.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 294.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 294.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 266.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 266.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 266.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 266.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 266.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 266.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 266.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 266.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 266.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 266.60 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 290 639.6 m 340 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 639.6 m 394 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 639.6 m 455 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 639.6 m 509 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 639.6 m 563 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 527.6 m 340 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 527.6 m 394 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 527.6 m 455 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 527.6 m 509 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 527.6 m 563 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 513.6 m 340 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 513.6 m 394 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 513.6 m 455 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 513.6 m 509 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 513.6 m 563 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 415.6 m 340 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 415.6 m 394 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 415.6 m 455 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 415.6 m 509 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 415.6 m 563 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 401.6 m 340 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 401.6 m 394 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 401.6 m 455 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 401.6 m 509 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 401.6 m 563 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 401.6 m 340 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 401.6 m 394 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 401.6 m 455 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 401.6 m 509 401.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 373.6 m 340 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 373.6 m 394 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 373.6 m 455 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 373.6 m 509 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 373.6 m 563 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 359.6 m 340 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 359.6 m 394 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 359.6 m 455 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 359.6 m 509 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 359.6 m 563 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 331.6 m 340 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 331.6 m 394 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 331.6 m 455 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 331.6 m 509 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 331.6 m 563 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 331.6 m 394 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 331.6 m 455 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 331.6 m 509 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 331.6 m 563 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 294.6 m 340 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 294.6 m 394 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 294.6 m 455 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 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(Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.60 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.45 651.85 Td (Non-guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.10 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.05 643.85 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 643.85 Td (Consolidated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 631.00 Td (REVENUES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 616.86 Td (Commissions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 616.06 Td (83,407) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 616.06 Td (83,407) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 602.86 Td (Advisory fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 602.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 602.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 602.06 Td (77,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 602.06 Td (\(326) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 602.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 602.06 Td (77,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 588.86 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 588.06 Td (28,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 588.06 Td (28,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 574.86 Td (Bank deposit sweep income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 574.06 Td (25,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 574.06 Td (25,297) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 560.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 560.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 560.06 Td (2,060) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 560.06 Td (12,247) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 560.06 Td (\(2,080) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 560.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 560.06 Td (12,227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 546.86 Td (Principal transactions, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 546.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 546.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 546.06 Td (2,759) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.50 546.06 Td (\(33) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 546.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 546.06 Td (2,726) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 532.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 532.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 532.06 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 532.06 Td (5,1) Tj ET Q q 0 0 0 rg BT 442.50 532.06 Td (14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.50 532.06 Td (\(95) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 532.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 532.06 Td (5,1) Tj ET Q q 0 0 0 rg BT 550.50 532.06 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 518.86 Td (T) Tj ET Q q 0 0 0 rg BT 75.68 518.86 Td (otal revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 518.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 518.06 Td (2,156) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 518.06 Td (234,908) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 518.06 Td (\(2,534) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 518.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 518.06 Td (234,530) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 505.00 Td (EXPENSES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 490.86 Td (Compensation and related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 490.06 Td (326) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 490.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 490.06 Td (152,778) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 490.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 490.06 Td (153,104) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 476.86 Td (Communications and technology) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 476.06 Td (39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 476.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 476.06 Td (18,649) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 476.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 476.06 Td (18,688) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 462.86 Td (Occupancy and equipment costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 462.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 462.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 462.06 Td (15,523) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.50 462.06 Td (\(95) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 462.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 462.06 Td (15,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 448.86 Td (Clearing and exchange fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 448.06 Td (6,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 448.06 Td (6,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 434.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 434.06 Td (3,375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 434.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 434.06 Td (7,668) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 434.06 Td (\(2,080) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 434.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 434.06 Td (8,963) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 420.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 420.06 Td (387) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 420.06 Td (253) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 420.06 Td (22,345) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 420.06 Td (\(359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 420.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 420.06 Td (22,626) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 406.86 Td (T) Tj ET Q q 0 0 0 rg BT 75.37 406.86 Td (otal expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 406.06 Td (4,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 406.06 Td (253) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 406.06 Td (223,059) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 406.06 Td (\(2,534) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 406.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 406.06 Td (224,905) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 392.86 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 392.06 Td (\(4,127) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 392.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 392.06 Td (1,903) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 392.06 Td (1) Tj ET Q q 0 0 0 rg BT 431.25 392.06 Td (1,849) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 392.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 392.06 Td (9,625) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 378.86 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 378.06 Td (\(1,040) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 378.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 378.06 Td (264) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 378.06 Td (3,692) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 378.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 378.06 Td (2,916) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 364.86 Td (Net income \(loss\) from continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 364.06 Td (\(3,087) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 364.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 364.06 Td (1,639) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 364.06 Td (8,157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 364.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 364.06 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 336.86 Td (Equity in earnings of subsidiaries) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 336.06 Td (9,792) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 336.06 Td (8,153) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 336.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 336.06 Td (\(17,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 336.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 336.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 322.86 Td (Net income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 322.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 322.06 Td (9,792) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 322.06 Td (8,157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 322.06 Td (\(17,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 322.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 322.06 Td (6,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 308.86 Td (Less net income attributable to non-controlling interest, net of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 299.86 Td (tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 299.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 299.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 447.00 299.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 299.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.00 299.06 Td (4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 285.86 Td (Net income attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 285.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 285.06 Td (9,792) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 285.06 Td (8,153) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 285.06 Td (\(17,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 285.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 285.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 271.86 Td (Other comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 271.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 271.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 271.06 Td (\(142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 271.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 271.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.00 271.06 Td (\(142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 271.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 257.86 Td (T) Tj ET Q q 0 0 0 rg BT 57.37 257.86 Td (otal comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 257.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 257.06 Td (6,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 257.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 257.06 Td (9,792) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 257.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 257.06 Td (8,01) Tj ET Q q 0 0 0 rg BT 447.00 257.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 257.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 477.75 257.06 Td (\(17,945) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 257.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 257.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 257.06 Td (6,563) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 95 0 obj <>] /Rotate 0 /Contents 96 0 R>> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 695.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.80 683.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 284.53 683.10 Td (TING ST) Tj ET Q q 0 0 0 rg BT 321.78 683.10 Td (A) Tj ET Q q 0 0 0 rg BT 327.89 683.10 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 368.26 683.10 Td ( OF OPERA) Tj ET Q q 0 0 0 rg BT 417.72 683.10 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.20 671.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 210.97 671.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 232.73 671.10 Td (THREE MONTHS ENDED ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.56 671.10 Td (MARCH31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.73 671.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 639.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 611.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 583.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 555.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 555.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 527.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 527.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 527.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 527.60 50.00 -14.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 459.00 499.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 499.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 499.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 471.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 471.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 471.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 471.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 471.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 471.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 471.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 471.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 471.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 471.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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0.9333333333333333 1 rg /GS0 gs 344.00 303.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 303.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 303.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 303.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 303.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 303.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 303.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 275.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 275.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 275.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 275.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 275.60 57.00 -14.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 513.00 247.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 210.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 210.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 210.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 210.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 210.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 210.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 210.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 210.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 210.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 210.60 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 290 639.6 m 340 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 639.6 m 394 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 639.6 m 455 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 639.6 m 509 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 639.6 m 563 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 527.6 m 340 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 527.6 m 394 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 527.6 m 455 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 527.6 m 509 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 527.6 m 563 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 513.6 m 340 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 513.6 m 394 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 513.6 m 455 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 513.6 m 509 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 513.6 m 563 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 415.6 m 340 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 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0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 359.6 m 340 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 373.6 m 394 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 359.6 m 394 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 373.6 m 455 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 359.6 m 455 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 373.6 m 509 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 359.6 m 509 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 373.6 m 563 373.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 359.6 m 563 359.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 303.6 m 340 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 303.6 m 394 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 303.6 m 455 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 303.6 m 509 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 303.6 m 563 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 303.6 m 340 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 289.6 m 340 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 303.6 m 394 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 289.6 m 394 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 303.6 m 455 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 289.6 m 455 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 303.6 m 509 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 289.6 m 509 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 303.6 m 563 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 289.6 m 563 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 289.6 m 340 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 289.6 m 394 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 289.6 m 455 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 289.6 m 509 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 289.6 m 563 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 261.6 m 340 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 261.6 m 394 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 261.6 m 455 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 261.6 m 509 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 261.6 m 563 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 261.6 m 340 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 261.6 m 394 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 261.6 m 455 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 261.6 m 509 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 261.6 m 563 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 224.60000000000002 m 340 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 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183.60000000000002 m 509 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 181.60000000000002 m 509 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 183.60000000000002 m 563 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 181.60000000000002 m 563 181.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 643.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 643.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.25 643.85 Td (Parent) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.25 651.85 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.60 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.45 651.85 Td (Non-guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.10 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.05 643.85 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 643.85 Td (Consolidated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 631.00 Td (REVENUES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 616.86 Td (Commissions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 616.06 Td (86,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 616.06 Td (86,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 602.86 Td (Advisory fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 602.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 602.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 602.06 Td (69,729) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 602.06 Td (\(320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 602.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 602.06 Td (69,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 588.86 Td (Investment banking) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 588.06 Td (18,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 588.06 Td (18,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 574.86 Td (Bank deposit sweep income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 574.06 Td (14,126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 574.06 Td (14,126) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 560.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 560.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 560.06 Td (2,579) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 560.06 Td (10,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 560.06 Td (\(2,576) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 560.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 560.06 Td (10,565) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 546.86 Td (Principal transactions, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 546.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.00 546.06 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 546.06 Td (5,367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 546.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 546.06 Td (5,373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 532.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 532.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 532.06 Td (88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 532.06 Td (9,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.50 532.06 Td (\(88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 532.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 532.06 Td (9,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 518.86 Td (T) Tj ET Q q 0 0 0 rg BT 75.68 518.86 Td (otal revenue) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 518.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 518.06 Td (2,673) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 518.06 Td (213,572) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 518.06 Td (\(2,984) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 518.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 518.06 Td (213,261) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 505.00 Td (EXPENSES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 490.86 Td (Compensation and related expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 490.06 Td (338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 490.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 490.06 Td (143,540) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 490.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 490.06 Td (143,878) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 476.86 Td (Communications and technology) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 476.06 Td (30) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 476.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 476.06 Td (17,676) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 476.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 476.06 Td (17,706) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 462.86 Td (Occupancy and equipment costs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 462.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 462.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 462.06 Td (15,360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.50 462.06 Td (\(88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 462.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 462.06 Td (15,272) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 448.86 Td (Clearing and exchange fees) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 448.06 Td (5,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 448.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 448.06 Td (5,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 434.86 Td (Interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 434.06 Td (3,281) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 434.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 434.06 Td (4,651) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 434.06 Td (\(2,576) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 434.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 434.06 Td (5,356) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 420.86 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 420.06 Td (327) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 420.06 Td (72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 420.06 Td (32,141) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.00 420.06 Td (\(320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 420.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 420.06 Td (32,220) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 406.86 Td (T) Tj ET Q q 0 0 0 rg BT 75.37 406.86 Td (otal expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 406.06 Td (3,976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 406.06 Td (72) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 422.25 406.06 Td (219,222) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 482.25 406.06 Td (\(2,984) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 505.50 406.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 406.06 Td (220,286) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 392.86 Td (Income \(loss\) before income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 392.06 Td (\(3,976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 392.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 392.06 Td (2,601) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 392.06 Td (\(5,650) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 392.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 392.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 392.06 Td (\(7,025) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 392.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 378.86 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 378.06 Td (\(1,528) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 378.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 378.06 Td (920) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 378.06 Td (\(1,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 378.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 378.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 378.06 Td (\(1,687) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 378.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 364.86 Td (Net income \(loss\) from continuing operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 364.06 Td (\(2,448) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 364.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 364.06 Td (1,681) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 364.06 Td (\(4,571) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 364.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 364.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 364.06 Td (\(5,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 364.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 337.00 Td (Discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 322.86 Td (Income from discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 322.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 322.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.00 322.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 322.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 322.06 Td (976) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 308.86 Td (Income taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 308.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 308.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.00 308.06 Td (389) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 308.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 308.06 Td (389) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 294.86 Td (Net income from discontinued operations) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 294.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 294.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.00 294.06 Td (587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 294.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 294.06 Td (587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 266.86 Td (Equity in earnings of subsidiaries) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 266.06 Td (\(2,399) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 266.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.25 266.06 Td (\(4,080) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 266.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 266.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.25 266.06 Td (6,479) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 266.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 252.86 Td (Net loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 252.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 252.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.25 252.06 Td (\(2,399) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 252.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 252.06 Td (\(3,984) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 252.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.25 252.06 Td (6,479) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 252.06 Td (\(4,751) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 252.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 238.86 Td (Less net income attributable to non-controlling interest, net of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 229.86 Td (tax) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 229.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 229.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 229.06 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 229.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 229.06 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 215.86 Td (Net loss attributable to Oppenheimer Holdings Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 215.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 215.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.25 215.06 Td (\(2,399) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 215.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 215.06 Td (\(4,080) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 215.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.25 215.06 Td (6,479) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 215.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 215.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 201.86 Td (Other comprehensive income) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 201.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 201.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.25 201.06 Td (1,424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 201.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 201.06 Td (1,424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 187.86 Td (T) Tj ET Q q 0 0 0 rg BT 57.37 187.86 Td (otal comprehensive loss) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 187.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 187.06 Td (\(4,847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 187.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 187.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.25 187.06 Td (\(2,399) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 187.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 187.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 187.06 Td (\(2,656) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 187.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 187.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.25 187.06 Td (6,479) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 187.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 187.06 Td (\(3,423) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 187.06 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.10 Td ( ) Tj ET Q endstream endobj 97 0 obj <>] /Rotate 0 /Contents 98 0 R>> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 695.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 683.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 283.53 683.10 Td (TING ST) Tj ET Q q 0 0 0 rg BT 320.78 683.10 Td (A) Tj ET Q q 0 0 0 rg BT 326.89 683.10 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 367.26 683.10 Td ( OF CASH FLOWS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.20 671.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 210.97 671.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 232.73 671.10 Td (THREE MONTHS ENDED ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.56 671.10 Td (MARCH31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.73 671.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 639.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 611.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 611.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 611.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 611.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 583.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 583.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 583.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 583.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 555.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 555.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 555.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 555.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 518.60 240.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 518.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 518.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 518.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 518.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 518.60 57.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 518.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 518.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 518.60 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 518.60 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 481.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 481.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 481.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 481.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 481.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 481.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 481.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 481.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 481.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 481.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 453.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 453.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 453.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 453.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 453.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 453.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 453.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 453.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 453.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 453.60 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 290 639.6 m 340 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 639.6 m 394 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 639.6 m 455 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 639.6 m 509 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 639.6 m 563 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 611.6 m 340 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 611.6 m 394 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 611.6 m 455 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 611.6 m 509 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 611.6 m 563 611.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 569.6 m 340 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 569.6 m 394 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 569.6 m 455 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 569.6 m 509 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 569.6 m 340 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 555.6 m 340 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 569.6 m 394 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 555.6 m 394 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 569.6 m 455 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 555.6 m 455 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 569.6 m 509 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 555.6 m 509 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 569.6 m 563 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 555.6 m 563 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 481.6 m 340 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 481.6 m 394 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 481.6 m 455 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 481.6 m 509 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 467.6 m 340 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 467.6 m 394 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 467.6 m 455 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 467.6 m 509 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 481.6 m 563 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 467.6 m 563 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 467.6 m 394 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 467.6 m 455 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 467.6 m 509 467.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 439.6 m 340 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 439.6 m 394 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 439.6 m 455 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 439.6 m 509 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 439.6 m 563 439.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 426.6 m 340 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 424.6 m 340 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 426.6 m 394 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 424.6 m 394 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 426.6 m 455 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 424.6 m 455 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 426.6 m 509 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 424.6 m 509 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 426.6 m 563 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 424.6 m 563 424.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 52.50 643.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.42 643.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.25 643.85 Td (Parent) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.25 651.85 Td (Guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.60 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.45 651.85 Td (Non-guarantor) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.10 643.85 Td (subsidiaries) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.05 643.85 Td (Eliminations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.35 643.85 Td (Consolidated) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 631.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.42 631.00 Td (om operating activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 616.86 Td (Cash provided by \(used in\) operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 616.06 Td (1,954) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 616.06 Td (919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.75 616.06 Td (\(30,416) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 616.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 616.06 Td (\(27,543) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 616.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 603.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.42 603.00 Td (om investing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 588.86 Td (Purchase of furniture, equipment and leasehold improvements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 588.06 Td (\(2,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 588.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 588.06 Td (\(2,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 588.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 574.86 Td (Purchase of tangible assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 574.06 Td (\(400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 574.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.00 574.06 Td (\(400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 574.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 560.86 Td (Cash used in investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 560.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.00 560.06 Td (\(400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.50 560.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 560.06 Td (\(2,696) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 560.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 560.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 560.06 Td (\(3,096) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 560.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 547.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.42 547.00 Td (om financing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 532.86 Td (Cash dividends paid on Class) Tj ET Q q 0 0 0 rg BT 160.50 532.86 Td (A) Tj ET Q q 0 0 0 rg BT 166.50 532.86 Td ( non-voting and Class B voting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 523.86 Td (common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 523.06 Td (\(1,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 523.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 523.06 Td (\(1,456) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 523.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 509.86 Td (Payments for employee taxes withheld related to vested share-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 500.86 Td (based awards) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 500.06 Td (\(2,444) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 500.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 500.06 Td (\(2,444) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 500.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 486.86 Td (Increase in bank call loans, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 486.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 486.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 486.06 Td (29,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 486.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 486.06 Td (29,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 76.50 472.86 Td (Cash provided by \(used in\) in financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 472.06 Td (\(3,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 472.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 472.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 472.06 Td (29,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 472.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 472.06 Td (25,200) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 458.86 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 458.06 Td (\(1,946) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 458.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 377.00 458.06 Td (519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 458.06 Td (\(4,012) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 458.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 458.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 458.06 Td (\(5,439) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 458.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 445.00 Td (Cash and cash equivalents, beginning of the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 444.06 Td (7,442) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 444.06 Td (3,716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 444.06 Td (36,996) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 444.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 444.06 Td (48,154) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 431.00 Td (Cash and cash equivalents, end of the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 430.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 430.06 Td (5,496) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 430.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 430.06 Td (4,235) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 430.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 430.06 Td (32,984) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 430.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 430.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 430.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 430.06 Td (42,715) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 99 0 obj <>] /Rotate 0 /Contents 100 0 R>> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 767.3333984375 m 123.9521484375 767.3333984375 l s q 0 0 1 rg BT 53.00 768.67 Td (T) Tj ET Q q 0 0 1 rg BT 58.41 768.67 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.05 728.67 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 718.67 Td (Notes to Condensed Consolidated Financial Statements \(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.05 695.10 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 683.10 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 283.53 683.10 Td (TING ST) Tj ET Q q 0 0 0 rg BT 320.78 683.10 Td (A) Tj ET Q q 0 0 0 rg BT 326.89 683.10 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 367.26 683.10 Td ( OF CASH FLOWS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.20 671.10 Td (FOR ) Tj ET Q q 0 0 0 rg BT 210.97 671.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 232.73 671.10 Td (THREE MONTHS ENDED ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.56 671.10 Td (MARCH31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.73 671.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.60 240.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 639.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 639.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg 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activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 88.50 616.86 Td (Cash provided by \(used in\) operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.25 616.06 Td (8,717) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 616.06 Td (4,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 423.75 616.06 Td (\(54,803) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 616.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 616.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 616.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 616.06 Td (\(41,986) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 616.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 603.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.42 603.00 Td (om investing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 588.86 Td (Purchase of furniture, equipment and leasehold improvements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 588.06 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 588.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 588.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 588.06 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 588.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 88.50 574.86 Td (Cash used in investing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 574.06 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 574.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 574.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 574.06 Td (\(1,550) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 574.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 561.00 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 103.42 561.00 Td (om financing activities:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 546.86 Td (Cash dividends paid on Class) Tj ET Q q 0 0 0 rg BT 160.50 546.86 Td (A) Tj ET Q q 0 0 0 rg BT 166.50 546.86 Td ( non-voting and Class B voting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 537.86 Td (common stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 537.06 Td (\(1,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 537.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 537.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 537.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 537.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 537.06 Td (\(1,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 537.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 523.86 Td (Cash dividends paid to non-controlling interest) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 523.06 Td (\(816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 523.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 523.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.00 523.06 Td (\(816) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 523.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 509.86 Td (Repurchase of Class) Tj ET Q q 0 0 0 rg BT 127.98 509.86 Td (A) Tj ET Q q 0 0 0 rg BT 133.99 509.86 Td ( non-voting common stock for) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 500.86 Td (cancellation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 500.06 Td (\(4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 500.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 500.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 500.06 Td (\(4,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 500.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 486.86 Td (Payments for employee taxes withheld related to vested share-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 477.86 Td (based awards) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 477.06 Td (\(2,203) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 477.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 477.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.50 477.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 477.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 477.06 Td (\(2,203) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 477.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 463.86 Td (Increase in bank call loans, net) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.50 463.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 463.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 463.06 Td (49,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 463.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 463.06 Td (49,900) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 88.50 449.86 Td (Cash provided by \(used in\) financing activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 313.25 449.06 Td (\(8,040) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.50 449.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.50 449.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 449.06 Td (49,084) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 449.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 449.06 Td (41,044) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 435.86 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 435.06 Td (677) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.25 435.06 Td (4,100) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.25 435.06 Td (\(7,269) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.50 435.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 435.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 435.06 Td (\(2,492) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 435.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 422.00 Td (Cash and cash equivalents, beginning of the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 421.06 Td (229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.75 421.06 Td (10,284) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 421.06 Td (54,400) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 421.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 421.06 Td (64,913) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 408.00 Td (Cash and cash equivalents, end of the period) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 407.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.00 407.06 Td (906) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.50 407.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.75 407.06 Td (14,384) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.50 407.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.75 407.06 Td (47,131) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.50 407.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 407.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.50 407.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 407.06 Td (62,421) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <>] /Rotate 0 /Contents 102 0 R>> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item2. MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 231.96 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 255.58 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 282.99 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 321.25 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 379.86 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 443.21 742.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 499.80 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 528.05 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.26 730.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (The Company's condensed consolidated financial statements have been prepared in accordance with accounting principles ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 218.55 694.25 Td (America. Reference is also made to the Company's consolidated financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (and notes thereto found in its ) Tj ET Q q 0 0 0 rg BT 168.32 682.25 Td (Annual Report on Form 10-K for the year ended December 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (The Company engages in a broad range of activities in the securities industry) Tj ET Q q 0 0 0 rg BT 358.15 658.25 Td (, including retail securities brokerage, institutional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (sales and trading, market-making, research, investment banking \(both corporate and public finance\), investment advisory and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (asset management services and trust services. Its principal subsidiaries are Oppenheimer& Co. Inc. \("Oppenheimer"\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (Oppenheimer ) Tj ET Q q 0 0 0 rg BT 106.37 622.25 Td (Asset Management Inc. \("OAM"\). ) Tj ET Q q 0 0 0 rg BT 246.17 622.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.62 622.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.21 622.25 Td (, the Company provided its services from 92 of) Tj ET Q q 0 0 0 rg BT 522.61 622.25 Td (fices in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (24 states located throughout the United States, of) Tj ET Q q 0 0 0 rg BT 246.45 610.25 Td (fices in ) Tj ET Q q 0 0 0 rg BT 277.92 610.25 Td (T) Tj ET Q q 0 0 0 rg BT 283.33 610.25 Td (el ) Tj ET Q q 0 0 0 rg BT 292.50 610.25 Td (A) Tj ET Q q 0 0 0 rg BT 298.97 610.25 Td (viv) Tj ET Q q 0 0 0 rg BT 311.10 610.25 Td (, Israel, Hong Kong, China, London, England, St. Helier) Tj ET Q q 0 0 0 rg BT 536.50 610.25 Td (, Isle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (of Jersey and Geneva, Switzerland. Client assets administered by the Company as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.75 598.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.35 598.25 Td ( totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.56 598.25 Td ($84.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.67 598.25 Td (. ) Tj ET Q q 0 0 0 rg BT 542.49 598.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Company provides investment advisory services through OAM and Oppenheimer Investment Management LLC \("OIM"\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Oppenheimer's Fahnestock ) Tj ET Q q 0 0 0 rg BT 160.11 574.25 Td (Asset Management, ) Tj ET Q q 0 0 0 rg BT 241.48 574.25 Td (Alpha and OMEGA) Tj ET Q q 0 0 0 rg BT 321.47 574.25 Td ( Group divisions. ) Tj ET Q q 0 0 0 rg BT 392.59 574.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.09 574.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.69 574.25 Td (, client assets under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (management \("AUM"\) totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.96 562.25 Td ($28.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.07 562.25 Td (. ) Tj ET Q q 0 0 0 rg BT 229.89 562.25 Td (The Company provides trust services and products through Oppenheimer ) Tj ET Q q 0 0 0 rg BT 525.48 562.25 Td (T) Tj ET Q q 0 0 0 rg BT 531.24 562.25 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Company of Delaware Inc. ) Tj ET Q q 0 0 0 rg BT 160.61 550.25 Td (The Company provides discount brokerage services through Freedom Investments, Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (\("Freedom"\). ) Tj ET Q q 0 0 0 rg BT 105.19 538.25 Td (Through OPY) Tj ET Q q 0 0 0 rg BT 161.76 538.25 Td ( Credit Corp., the Company of) Tj ET Q q 0 0 0 rg BT 283.51 538.25 Td (fers syndication as well as trading of issued syndicated corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (loans. ) Tj ET Q q 0 0 0 rg BT 75.56 526.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.06 526.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.66 526.25 Td (, the Company employed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.69 526.25 Td (2,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.19 526.25 Td ( employees \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.29 526.25 Td (2,913) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.79 526.25 Td ( full-time and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.71 526.25 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.71 526.25 Td ( part-time\), of whom ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.53 526.25 Td (1,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.03 526.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (financial advisers.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 490.25 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (The Company's accounting policies are essential to understanding and interpreting the financial results reported on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (condensed consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 232.26 460.25 Td (The significant accounting policies used in the preparation of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (condensed consolidated financial statements are summarized in note 2 to the Company's consolidated financial statements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (notes thereto found in its ) Tj ET Q q 0 0 0 rg BT 151.38 436.25 Td (Annual Report on Form 10-K for the year ended December 31, 2017. Certain of those policies are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (considered to be particularly important to the presentation of the Company's financial results because they require management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (to make dif) Tj ET Q q 0 0 0 rg BT 95.36 412.25 Td (ficult, complex or subjective judgments, often as a result of matters that are inherently uncertain.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 388.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.96 388.25 Td (, there were no material changes to matters discussed under the heading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td ("Critical ) Tj ET Q q 0 0 0 rg BT 86.02 376.25 Td (Accounting Polices" in Part II, Item 7 of the Company's ) Tj ET Q q 0 0 0 rg BT 311.59 376.25 Td (Annual Report on Form 10-K for the year ended December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (31, 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (Business Envir) Tj ET Q q 0 0 0 rg BT 113.45 340.25 Td (onment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (The securities industry is directly af) Tj ET Q q 0 0 0 rg BT 193.39 322.25 Td (fected by general economic and market conditions, including fluctuations in volume and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (price levels of securities and changes in interest rates, inflation, political events, investor confidence, investor participation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (levels, legal and regulatory) Tj ET Q q 0 0 0 rg BT 157.64 298.25 Td (, accounting, tax and compliance requirements and competition, all of which have an impact on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (commissions, firm trading, fees from accounts under investment management as well as fees for investment banking services, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (and investment and interest income as well as on liquidity) Tj ET Q q 0 0 0 rg BT 281.25 274.25 Td (. Substantial fluctuations can occur in revenue and net income due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (these and other factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (The Company is focused on growing its private client and asset management businesses through strategic additions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (experienced financial advisers in its existing branch system and employment of experienced money management personnel in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (its asset management business. In addition, the Company is committed to the improvement of its technology capability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (support client service and the expansion of its capital markets capabilities while addressing the issue of managing its expenses.) Tj ET Q endstream endobj 103 0 obj <>] /Rotate 0 /Contents 104 0 R>> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 96.75 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 102.50 742.25 Td (ax Reform) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (On December 22, 2017, the Federal government enacted Public Law 1) Tj ET Q q 0 0 0 rg BT 331.76 724.25 Td (15-97, commonly referred to as the ) Tj ET Q q 0 0 0 rg BT 475.14 724.25 Td (T) Tj ET Q q 0 0 0 rg BT 480.55 724.25 Td (ax Cuts and Jobs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (Act \("TCJA"\). ) Tj ET Q q 0 0 0 rg BT 110.47 712.25 Td (The ) Tj ET Q q 0 0 0 rg BT 128.34 712.25 Td (TCJA) Tj ET Q q 0 0 0 rg BT 151.68 712.25 Td ( makes broad and complex changes to the U.S. tax code, including, but not limited to: \(1\) reducing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (U.S. Federal corporate tax rate from 35 percent to 21 percent; \(2\) requiring companies to pay a one-time transition tax on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (certain unrepatriated earnings of foreign subsidiaries; \(3\) generally eliminating U.S. federal income taxes on dividends from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (foreign subsidiaries; \(4\) a new provision designed to tax global intangible low-taxed income \("GIL) Tj ET Q q 0 0 0 rg BT 445.01 676.25 Td (TI"\), which allows for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (possibility of using foreign tax credits \("FTCs"\) and a deduction of up to 50 percent to of) Tj ET Q q 0 0 0 rg BT 406.25 664.25 Td (fset the income tax liability \(subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (some limitations\); \(5\) limitations on the use of FTCs to reduce the U.S. income tax liability; \(6\) eliminating the corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (alternative minimum tax \("AMT"\) and changing how existing ) Tj ET Q q 0 0 0 rg BT 299.78 640.25 Td (AMT) Tj ET Q q 0 0 0 rg BT 321.82 640.25 Td ( credits can be realized; \(7\) creating the base erosion anti-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (abuse tax, a new minimum tax; \(8\) limitations on the deductibility of certain executive compensation; \(9\) creating a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (limitation on deductible interest expense; \(10\) eliminating the deductibility of entertainment expenses; and \(1) Tj ET Q q 0 0 0 rg BT 487.01 616.25 Td (1\) changing rules ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (note 1) Tj ET Q q 0 0 0 rg BT 74.35 592.25 Td (1 to the condensed consolidated financial statements in Item 1 for further discussion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (Regulatory and Legal Envir) Tj ET Q q 0 0 0 rg BT 169.55 568.25 Td (onment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (The Company's brokerage business is subject to regulation by) Tj ET Q q 0 0 0 rg BT 296.66 550.25 Td (, among others, the Securities and Exchange Commission \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td ("SEC"\), the Commodities Futures ) Tj ET Q q 0 0 0 rg BT 188.26 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 194.02 538.25 Td (rading Commission, the National Futures ) Tj ET Q q 0 0 0 rg BT 361.23 538.25 Td (Association, the Municipal Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Rulemaking Board and the Financial Industry Regulatory ) Tj ET Q q 0 0 0 rg BT 281.90 526.25 Td (Authority \("FINRA"\) in the United States, the Financial Conduct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Authority \("FCA"\) in the United Kingdom, the Jersey Financial Services Commission in the Isle of Jersey) Tj ET Q q 0 0 0 rg BT 474.12 514.25 Td (, the Securities and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (Futures Commission in Hong Kong, and various state securities regulators in the United States. In addition, Oppenheimer Israel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (\(OPCO\) Ltd. operates under the supervision of the Israeli Securities ) Tj ET Q q 0 0 0 rg BT 323.54 490.25 Td (Authority) Tj ET Q q 0 0 0 rg BT 361.78 490.25 Td (. Past events surrounding corporate accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (and other activities leading to investor losses caused increased regulation of public companies. Certain legislators continue to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (publicly advocate that the SEC has not taken adequate enforcement action against firms and individuals. ) Tj ET Q q 0 0 0 rg BT 469.69 466.25 Td (V) Tj ET Q q 0 0 0 rg BT 475.81 466.25 Td (arious states are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (imposing their own regulations that make compliance more dif) Tj ET Q q 0 0 0 rg BT 301.42 454.25 Td (ficult and more expensive to monitor) Tj ET Q q 0 0 0 rg BT 448.89 454.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (In July 2010, Congress enacted extensive legislation entitled the ) Tj ET Q q 0 0 0 rg BT 309.20 430.25 Td (W) Tj ET Q q 0 0 0 rg BT 317.84 430.25 Td (all Street Reform and Consumer Protection ) Tj ET Q q 0 0 0 rg BT 492.81 430.25 Td (Act \(the "Dodd-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Frank ) Tj ET Q q 0 0 0 rg BT 75.28 418.25 Td (Act"\) in which it mandated that the SEC and other regulators conduct comprehensive studies and issue new regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (based on their findings to control the activities of financial institutions in order to protect the financial system, the investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (public and consumers from issues and failures that occurred in the 2008-9 financial crisis. Prohibitions and Restrictions on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Proprietary ) Tj ET Q q 0 0 0 rg BT 97.30 382.25 Td (T) Tj ET Q q 0 0 0 rg BT 103.06 382.25 Td (rading and Certain Interests in, and Relationships with, Hedge Funds and Private Equity Funds \(the "V) Tj ET Q q 0 0 0 rg BT 513.29 382.25 Td (olcker ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Rule"\) was published by the U.S. Federal Reserve Board as required by the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 404.56 370.25 Td (Act in 201) Tj ET Q q 0 0 0 rg BT 446.41 370.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 456.23 370.25 Td (The ) Tj ET Q q 0 0 0 rg BT 474.09 370.25 Td (V) Tj ET Q q 0 0 0 rg BT 480.02 370.25 Td (olcker Rule is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (applicable to the Company) Tj ET Q q 0 0 0 rg BT 156.82 358.25 Td (. In 2016, the U.S. Department of Labor \("DOL"\) adopted new regulations around financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (transactions with retirement plans due to the adoption of a uniform fiduciary standard of care of broker) Tj ET Q q 0 0 0 rg BT 461.33 346.25 Td (-dealers and investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (advisers providing personalized investment advice about securities to such plans and increased the disclosures provided to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (clients. Recent announcements make it appear increasingly likely that the rules surrounding financial institutions may change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (the U.S., including changes to the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 238.31 310.25 Td (Act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 286.25 Td (April 2016, the DOL) Tj ET Q q 0 0 0 rg BT 143.78 286.25 Td ( finalized its definition of fiduciary under the Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 484.23 286.25 Td (Act through the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (release of new rules and changes to interpretations of six prohibited transaction exemptions which together set a new standard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (for the treatment and ef) Tj ET Q q 0 0 0 rg BT 143.66 262.25 Td (fects of advice given to retirement investors. Under this rule, investment advice given to an employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (benefit plan or an individual retirement account \("IRA"\) would be considered fiduciary advice. ) Tj ET Q q 0 0 0 rg BT 431.92 250.25 Td (As a result, financial service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (providers and advisers who provide investment advice would be required to meet "conflict of interest" standards which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (likely to limit commission-based compensation in favor of flat-fee compensation plans. ) Tj ET Q q 0 0 0 rg BT 401.96 226.25 Td (The rules will also in all likelihood ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (discourage the transfer of retirement assets from 401\(k\) and similar plans as well as pension plans to rollover IRA) Tj ET Q q 0 0 0 rg BT 505.43 214.25 Td ( plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (sponsored by financial service providers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (The DOL) Tj ET Q q 0 0 0 rg BT 88.23 178.25 Td ( rules provide for a Best Interest Contract \("BIC"\) exemption, which would, under some circumstances, allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (advisers to continue to receive commissions under a contract with a retirement investor) Tj ET Q q 0 0 0 rg BT 398.23 166.25 Td (.However) Tj ET Q q 0 0 0 rg BT 439.48 166.25 Td (, there would be no exemption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (available for sophisticated investors and a financial institution's failure to maintain and comply with the required anti-conflict ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (of interest ruleswill result in a loss of the relief af) Tj ET Q q 0 0 0 rg BT 249.48 142.25 Td (forded by the BIC exemption and potential legal and regulatory sanctions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (The Company presently expects to continue to of) Tj ET Q q 0 0 0 rg BT 246.71 130.25 Td (fer commission-based activity to retirement accounts. ) Tj ET Q endstream endobj 105 0 obj <>] /Rotate 0 /Contents 106 0 R>> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In March 2018, the U.S. 5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 154.43 746.63 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.48 742.10 Td ( Circuit Court of ) Tj ET Q q 0 0 0 rg BT 227.81 742.10 Td (Appeals found that the DOL) Tj ET Q q 0 0 0 rg BT 341.31 742.10 Td ( did not have the jurisdiction to adopt the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (aforementioned rules. ) Tj ET Q q 0 0 0 rg BT 139.51 730.10 Td (The ruling created additional uncertainty around the adoption of fiduciary or other standards applying to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (customer accounts generally and retirement assets in particular) Tj ET Q q 0 0 0 rg BT 300.74 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 305.56 718.10 Td (The DOL) Tj ET Q q 0 0 0 rg BT 343.78 718.10 Td ( has until May 8, 2018 to appeal the ruling. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Commentators have stated that to the extent the ruling is not appealed the rules will be rendered unenforceable. ) Tj ET Q q 0 0 0 rg BT 497.17 706.10 Td (The ultimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (outcome of the enforceability and ef) Tj ET Q q 0 0 0 rg BT 195.03 694.10 Td (fect of the rules are not clear) Tj ET Q q 0 0 0 rg BT 308.86 694.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (On ) Tj ET Q q 0 0 0 rg BT 63.94 670.10 Td (April ) Tj ET Q q 0 0 0 rg BT 87.26 670.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 101.96 670.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 126.67 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.09 670.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 161.64 670.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 207.16 670.10 Td (its ) Tj ET Q q 0 0 0 rg BT 218.82 670.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 257.69 670.10 Td ("Regulation ) Tj ET Q q 0 0 0 rg BT 307.86 670.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 327.84 670.10 Td (Interest," ) Tj ET Q q 0 0 0 rg BT 366.62 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 373.26 670.10 Td (package ) Tj ET Q q 0 0 0 rg BT 408.22 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.76 670.10 Td (rulemakings ) Tj ET Q q 0 0 0 rg BT 470.40 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.05 670.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 547.01 670.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (address ) Tj ET Q q 0 0 0 rg BT 82.93 658.10 Td (customers' ) Tj ET Q q 0 0 0 rg BT 128.22 658.10 Td (relationships ) Tj ET Q q 0 0 0 rg BT 182.27 658.10 Td (with ) Tj ET Q q 0 0 0 rg BT 202.99 658.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 249.81 658.10 Td (advisors ) Tj ET Q q 0 0 0 rg BT 286.08 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.46 658.10 Td (broker) Tj ET Q q 0 0 0 rg BT 329.36 658.10 Td (-dealers. ) Tj ET Q q 0 0 0 rg BT 366.45 658.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 413.27 658.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 433.99 658.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 466.92 658.10 Td (would ) Tj ET Q q 0 0 0 rg BT 494.86 658.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 526.67 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.83 658.10 Td (DOL) Tj ET Q q 0 0 0 rg BT 562.01 658.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (fiduciary ) Tj ET Q q 0 0 0 rg BT 87.82 646.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 123.43 646.10 Td (with ) Tj ET Q q 0 0 0 rg BT 142.93 646.10 Td (an ) Tj ET Q q 0 0 0 rg BT 154.10 646.10 Td (intermediate ) Tj ET Q q 0 0 0 rg BT 205.81 646.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 241.41 646.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 284.23 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.74 646.10 Td (all ) Tj ET Q q 0 0 0 rg BT 305.46 646.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 347.73 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.79 646.10 Td (broker) Tj ET Q q 0 0 0 rg BT 383.69 646.10 Td (-dealers ) Tj ET Q q 0 0 0 rg BT 417.07 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.23 646.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 478.84 646.10 Td (advisors. ) Tj ET Q q 0 0 0 rg BT 516.40 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 518.13 646.10 Td (Regulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 70.37 634.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 102.94 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 112.20 634.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 143.11 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.48 634.10 Td (public ) Tj ET Q q 0 0 0 rg BT 181.06 634.10 Td (review ) Tj ET Q q 0 0 0 rg BT 210.85 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 227.88 634.10 Td (comment ) Tj ET Q q 0 0 0 rg BT 267.68 634.10 Td (until ) Tj ET Q q 0 0 0 rg BT 288.60 634.10 Td (July ) Tj ET Q q 0 0 0 rg BT 307.86 634.10 Td (17, ) Tj ET Q q 0 0 0 rg BT 322.95 634.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 348.04 634.10 Td (It ) Tj ET Q q 0 0 0 rg BT 356.73 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 365.99 634.10 Td (too ) Tj ET Q q 0 0 0 rg BT 381.36 634.10 Td (soon ) Tj ET Q q 0 0 0 rg BT 402.84 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.20 634.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 443.55 634.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 478.35 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 495.38 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 505.74 634.10 Td (what ) Tj ET Q q 0 0 0 rg BT 527.77 634.10 Td (form ) Tj ET Q q 0 0 0 rg BT 549.79 634.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 70.77 622.10 Td (will ) Tj ET Q q 0 0 0 rg BT 88.76 622.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 113.41 622.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 159.72 622.10 Td (Best ) Tj ET Q q 0 0 0 rg BT 179.93 622.10 Td (Interest, ) Tj ET Q q 0 0 0 rg BT 214.84 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.49 622.10 Td (ef) Tj ET Q q 0 0 0 rg BT 237.08 622.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 254.49 622.10 Td (it ) Tj ET Q q 0 0 0 rg BT 262.48 622.10 Td (may ) Tj ET Q q 0 0 0 rg BT 282.13 622.10 Td (have ) Tj ET Q q 0 0 0 rg BT 303.44 622.10 Td (on ) Tj ET Q q 0 0 0 rg BT 315.87 622.10 Td (broker) Tj ET Q q 0 0 0 rg BT 341.77 622.10 Td (-dealers ) Tj ET Q q 0 0 0 rg BT 375.84 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.71 622.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 439.02 622.10 Td (advisors ) Tj ET Q q 0 0 0 rg BT 474.78 622.10 Td (generally) Tj ET Q q 0 0 0 rg BT 511.34 622.10 Td (, ) Tj ET Q q 0 0 0 rg BT 516.27 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.92 622.10 Td (specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 610.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 75.91 610.10 Td (it ) Tj ET Q q 0 0 0 rg BT 84.80 610.10 Td (has ) Tj ET Q q 0 0 0 rg BT 101.47 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 114.81 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.36 610.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 178.28 610.10 Td (broker) Tj ET Q q 0 0 0 rg BT 204.18 610.10 Td (-dealer ) Tj ET Q q 0 0 0 rg BT 235.27 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.05 610.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 300.27 610.10 Td (management ) Tj ET Q q 0 0 0 rg BT 354.69 610.10 Td (businesses, ) Tj ET Q q 0 0 0 rg BT 402.75 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.53 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 436.08 610.10 Td (ef) Tj ET Q q 0 0 0 rg BT 443.67 610.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 461.99 610.10 Td (it ) Tj ET Q q 0 0 0 rg BT 470.89 610.10 Td (has ) Tj ET Q q 0 0 0 rg BT 487.55 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 500.89 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.45 610.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.11 610.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (competitive ) Tj ET Q q 0 0 0 rg BT 99.71 598.10 Td (position ) Tj ET Q q 0 0 0 rg BT 134.43 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.71 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.43 598.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 196.91 598.10 Td (services ) Tj ET Q q 0 0 0 rg BT 231.62 598.10 Td (industry) Tj ET Q q 0 0 0 rg BT 263.75 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 268.56 598.10 Td (The ) Tj ET Q q 0 0 0 rg BT 286.61 598.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 328.00 598.10 Td (does ) Tj ET Q q 0 0 0 rg BT 348.83 598.10 Td (not ) Tj ET Q q 0 0 0 rg BT 364.11 598.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 392.70 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.42 598.10 Td (DOL) Tj ET Q q 0 0 0 rg BT 427.60 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.10 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 440.38 598.10 Td (appeal ) Tj ET Q q 0 0 0 rg BT 468.97 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 483.69 598.10 Td (5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 488.69 602.63 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.74 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.24 598.10 Td (Circuit ) Tj ET Q q 0 0 0 rg BT 526.52 598.10 Td (ruling. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (During 2017, the Company reviewed itsbusiness and operating models in light of the DOL) Tj ET Q q 0 0 0 rg BT 414.85 574.10 Td ( fiduciary rules and made significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (structural and operational changes to the Company's broker) Tj ET Q q 0 0 0 rg BT 287.36 562.10 Td (-dealer and investment management businesses. For example, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Oppenheimer no longer confirms sales of underwritten securities to IRA) Tj ET Q q 0 0 0 rg BT 339.09 550.10 Td ( accounts. ) Tj ET Q q 0 0 0 rg BT 381.40 550.10 Td (The changes have had a negative impact on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (revenues derived from retirement accounts and the desirability of servicing such accounts, except when they are participating in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (fixed fee based programs. ) Tj ET Q q 0 0 0 rg BT 155.61 526.10 Td (The Company will again review its business and operating models in light of the 5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 485.55 530.63 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.61 526.10 Td ( Circuit ruling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (and the proposed Regulation Best Interest and may make further structural and operational changes in light of the vacated DOL) Tj ET Q q 0 0 0 rg BT 559.74 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (fiduciary rule and in anticipation of the SEC adopting a version of Regulation Best Interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (The European Commission recently adopted several acts under the revised Markets in Financial Instruments Directive \(known ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (as "MiFID II"\) that would prevent broker) Tj ET Q q 0 0 0 rg BT 215.15 466.10 Td (-dealers operating in the European Union \("EU"\) from "bundling" the cost of research ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (together with trading commissions. ) Tj ET Q q 0 0 0 rg BT 193.41 454.10 Td (These rules became ef) Tj ET Q q 0 0 0 rg BT 282.35 454.10 Td (fective on January 3, 2018. ) Tj ET Q q 0 0 0 rg BT 392.97 454.10 Td (The ability of the Company to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (compensated for equity research activities has been reduced and institutional clients are required to make payments for research ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (through cash payments rather than transaction-based commissions. MiFID II is already having an impact on the manner in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (which business is being conducted in the United Kingdom and in Europe. ) Tj ET Q q 0 0 0 rg BT 346.71 418.10 Td (The long term ef) Tj ET Q q 0 0 0 rg BT 413.45 418.10 Td (fects of these changes on securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (markets and on competition in the EU are impossible to predict. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (In June 2016, in a referendum to consider the United Kingdom's continued participation in the European Common Market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (\("EC"\), the United Kingdom voted in favor of withdrawing from the EC \("Brexit"\). ) Tj ET Q q 0 0 0 rg BT 386.36 370.10 Td (The British government instituted Rule 50 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (on March 30, 2017 thereby beginning a two-year period during which Great Britain and the EU will define their relationship ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 346.10 Td (fective with Great Britain's departure from the EC. Brexit has created significant uncertainty in both the United Kingdom and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (in the other member states around its economic impact and the operating requirements for businesses located in the United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Kingdom after the ef) Tj ET Q q 0 0 0 rg BT 133.40 322.10 Td (fective date. ) Tj ET Q q 0 0 0 rg BT 184.58 322.10 Td (The value of the British Pound fell based on news surrounding Brexit. ) Tj ET Q q 0 0 0 rg BT 467.40 322.10 Td (The Company has a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (London-based business and the ability for it to passport its employees to conduct a financial services business in the EU post-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Brexit is in considerable doubt. In addition, a number of its London-based employees do not hold British passports and their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (continued employment in London is also in doubt. Given the lack of clarity on the ultimate post Brexit relationship between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (Great Britain and the EU, the Company cannot determine what, if any) Tj ET Q q 0 0 0 rg BT 329.54 274.10 Td (, impact Brexit may have on its operations, both inside ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (and outside the United Kingdom.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (The anti-money laundering \("AML"\) rules and requirements that were created by the passage of the USA) Tj ET Q q 0 0 0 rg BT 471.08 238.10 Td ( Patriot ) Tj ET Q q 0 0 0 rg BT 502.19 238.10 Td (Act in the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (and similar laws in other countries have created significant costs of compliance and can be expected to continue to do so. ) Tj ET Q q 0 0 0 rg BT 536.88 226.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (U.S. Financial Crimes Enforcement Network \("FinCEN"\) has heightened its review of the activities of broker) Tj ET Q q 0 0 0 rg BT 488.41 214.10 Td (-dealers. ) Tj ET Q q 0 0 0 rg BT 524.87 214.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (increased focus is likely to lead to significantly higher levels of enforcement and higher fines and penalties on broker) Tj ET Q q 0 0 0 rg BT 518.54 202.10 Td (-dealers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Regulators have expanded their views of the requirements of the USA) Tj ET Q q 0 0 0 rg BT 329.92 190.10 Td ( Patriot ) Tj ET Q q 0 0 0 rg BT 361.04 190.10 Td (Act, as well as their views of the enforcement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (the provisions of the Bank Secrecy ) Tj ET Q q 0 0 0 rg BT 191.64 178.10 Td (Act and the Foreign Corrupt Practices ) Tj ET Q q 0 0 0 rg BT 345.49 178.10 Td (Act with respect to the amount of diligence and on-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (going monitoring required by financial institutions of both their foreign and domestic clients and their activities. ) Tj ET Q q 0 0 0 rg BT 500.74 166.10 Td (As a result, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Company has significantly increased its ) Tj ET Q q 0 0 0 rg BT 211.36 154.10 Td (AML) Tj ET Q q 0 0 0 rg BT 233.21 154.10 Td ( staf) Tj ET Q q 0 0 0 rg BT 249.97 154.10 Td (fing, made additional investments in its due diligence systems, upgraded its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (monitoring systems and significantly revised its ) Tj ET Q q 0 0 0 rg BT 243.32 142.10 Td (AML) Tj ET Q q 0 0 0 rg BT 265.17 142.10 Td ( policies and procedures. In May 2016, FinCEN's proposed rule on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (customer due diligence \("CDD Rule"\) was finalized with an ef) Tj ET Q q 0 0 0 rg BT 300.41 130.10 Td (fective date of May 1) Tj ET Q q 0 0 0 rg BT 385.55 130.10 Td (1, 2018. FINRA) Tj ET Q q 0 0 0 rg BT 450.00 130.10 Td ( has recently announced the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (expansion of ) Tj ET Q q 0 0 0 rg BT 103.33 118.10 Td (AML) Tj ET Q q 0 0 0 rg BT 125.18 118.10 Td ( regulations to include the collection and analysis of other types of client activity) Tj ET Q q 0 0 0 rg BT 447.49 118.10 Td (. ) Tj ET Q q 0 0 0 rg BT 452.31 118.10 Td (The CDD and associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (rules are significantly more intrusive on the activities of U.S.-based clients and will have the ef) Tj ET Q q 0 0 0 rg BT 429.99 106.10 Td (fect of increasing the costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (associated with opening new accounts and creating new business relationships.) Tj ET Q endstream endobj 107 0 obj <>] /Rotate 0 /Contents 108 0 R>> endobj 108 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.62 742.10 Td (rump ) Tj ET Q q 0 0 0 rg BT 96.68 742.10 Td (Administration has announced its intention to ease the regulatory burden on businesses. ) Tj ET Q q 0 0 0 rg BT 449.48 742.10 Td (There can be no assurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (that such easing will in fact take place, that it will have a favorable impact on financial service providers such as the Company) Tj ET Q q 0 0 0 rg BT 555.01 730.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (or that it will ef) Tj ET Q q 0 0 0 rg BT 112.03 718.10 Td (fect positively the Company's competitive position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Pursuant to FINRA) Tj ET Q q 0 0 0 rg BT 127.23 694.10 Td ( Rule 3130, the chief executive of) Tj ET Q q 0 0 0 rg BT 262.28 694.10 Td (ficers \("CEOs"\) of member broker) Tj ET Q q 0 0 0 rg BT 400.20 694.10 Td (-dealers \(including the CEO of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Oppenheimer\) are required to certify that their companies have processes in place to establish and test supervisory policies and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (procedures reasonably designed to achieve compliance with federal securities laws and regulations, including applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (regulations of self-regulatory or) Tj ET Q q 0 0 0 rg BT 177.28 658.10 Td (ganizations. ) Tj ET Q q 0 0 0 rg BT 227.64 658.10 Td (The CEO of the Company is required to make such a certification on an annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (basis and did so in March 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (In September 2015, FINRA) Tj ET Q q 0 0 0 rg BT 160.55 622.10 Td ( released Regulatory Notice 15-33 which provides guidance on ef) Tj ET Q q 0 0 0 rg BT 422.78 622.10 Td (fective liquidity risk management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (strategies.Based on the guidelines, broker) Tj ET Q q 0 0 0 rg BT 218.92 610.10 Td (-dealers are expected to evaluate rigorously their potential liquidity needs related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (both market wide stress and idiosyncratic stresses, devote suf) Tj ET Q q 0 0 0 rg BT 295.04 598.10 Td (ficient resources to measuring risks applicable to their businesses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (and report the results of measurement to senior management.) Tj ET Q q 0 0 0 rg BT 296.41 586.10 Td (The reporting requirement includes a review of risks that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (based on historical events and stresses that could occur but have not yet been observed.) Tj ET Q q 0 0 0 rg BT 401.01 574.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 450.91 574.10 Td (, based on the guidelines, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (every broker) Tj ET Q q 0 0 0 rg BT 100.61 562.10 Td (-dealer must consider developing contingency plans for addressing those risks so that the firm will have suf) Tj ET Q q 0 0 0 rg BT 530.32 562.10 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (liquidity to operate after the stress occurs while continuing to protect customer assets, conduct stress tests and other reviews to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (evaluate the ef) Tj ET Q q 0 0 0 rg BT 108.12 538.10 Td (fectiveness of the contingency plans, have a training plan for its staf) Tj ET Q q 0 0 0 rg BT 380.07 538.10 Td (f and have tested the processes on which it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (intends to rely if such stresses occur) Tj ET Q q 0 0 0 rg BT 193.86 526.10 Td (.) Tj ET Q q 0 0 0 rg BT 198.68 526.10 Td (The Company has reviewed these guidelines and has enhanced its liquidity risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (management practices in light of the guidance provided in Regulatory Notice 15-33.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (On January 8, 2018, FINRA) Tj ET Q q 0 0 0 rg BT 162.77 490.10 Td ( released for comment Regulatory Notice 18-02 "Liquidity Reporting and Notification" which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (would require member firms to notify FINRA) Tj ET Q q 0 0 0 rg BT 233.31 478.10 Td ( no more than 48 hours after specified events that may signal an adverse change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (in liquidity risk. ) Tj ET Q q 0 0 0 rg BT 116.49 466.10 Td (This notice would also require members to file a new Supplemental Liquidity Schedule \("SLS"\) detailing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (lar) Tj ET Q q 0 0 0 rg BT 60.37 454.10 Td (gest customer and counterparty exposures as a supplement to the FOCUS Report. On the new SLS, member firms would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (report information related to specified financing transactions and other sources or uses of liquidity) Tj ET Q q 0 0 0 rg BT 442.29 442.10 Td (. ) Tj ET Q q 0 0 0 rg BT 447.11 442.10 Td (The information would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (include among other things, financing terms, collateral types and lar) Tj ET Q q 0 0 0 rg BT 322.24 430.10 Td (ge counterparties.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Other Regulatory Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (On January 27, 2015, the SEC approved an Of) Tj ET Q q 0 0 0 rg BT 235.89 388.10 Td (fer of Settlement from Oppenheimer and issued an Order Instituting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (Administrative and Cease and Desist Proceedings \(the "SEC Order"\). Pursuant to the SEC Order) Tj ET Q q 0 0 0 rg BT 439.08 376.10 Td (, Oppenheimer was ordered to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (\(i\) cease and desist from committing or causing any violations of the relevant provisions of the federal securities laws; \(ii\) be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (censured; \(iii\) pay to the SEC $10.0 million comprised of $4.2 million in disgor) Tj ET Q q 0 0 0 rg BT 368.95 352.10 Td (gement, $753,500 in prejudgment interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td ($5.1 million in civil penalties; and \(iv\) retain an independent consultant to review Oppenheimer's policies and procedures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (relating to anti-money laundering and Section 5 of the Securities ) Tj ET Q q 0 0 0 rg BT 310.49 328.10 Td (Act of 1933.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (Pursuant to the SEC Order) Tj ET Q q 0 0 0 rg BT 156.25 304.10 Td (, Oppenheimer made a payment of $5.0 million to the SEC on February 17, 2015 and made a second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (payment of $5.0 million to the SEC on January 26, 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (On February 19, 2015, the board of directors formed a Special Committee in order to engage an independent law firm to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (conduct a review of Oppenheimer and OAM's broker) Tj ET Q q 0 0 0 rg BT 262.92 256.10 Td (-dealer and investment adviser compliance processes and related internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (controls and governance processes and provide recommendations to the Special Committee. On February 19, 2015, the Special ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (Committee agreed to engage an independent law firm to conduct the aforementioned review) Tj ET Q q 0 0 0 rg BT 418.10 232.10 Td (. On ) Tj ET Q q 0 0 0 rg BT 437.27 232.10 Td (April 22, 2015, the Special ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (Committee agreed to retain Kalorama Partners, LLP) Tj ET Q q 0 0 0 rg BT 258.73 220.10 Td ( \("Kalorama"\) to act as the independent law firm. In July 2015, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (Company created a Compliance Committee made up of independent directors to oversee the Company's compliance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (applicable rules and regulations. In May 2017, the Board approved the assumption of the duties of the Special Committee by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (the Compliance Committee and the dissolution of the Special Committee. ) Tj ET Q q 0 0 0 rg BT 346.89 184.10 Td (As part of its engagement of Kalorama, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (agreed that the recommendations of Kalorama would be shared with the SEC. Moreover) Tj ET Q q 0 0 0 rg BT 403.10 172.10 Td (, Oppenheimer and OAM agreed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (adopt the recommendations made by Kalorama for the FINRA) Tj ET Q q 0 0 0 rg BT 299.93 160.10 Td ( IC Report and ) Tj ET Q q 0 0 0 rg BT 361.04 160.10 Td (Additional IC Reports discussed below) Tj ET Q q 0 0 0 rg BT 517.04 160.10 Td (, subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (a process for any recommendations found by the Company to be impractical or overly burdensome. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 124.10 Td (August 2015, Kalorama delivered a report as a result of a settlement reached by Oppenheimer with FINRA) Tj ET Q q 0 0 0 rg BT 488.20 124.10 Td ( in a matter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (unrelated to the SEC matter discussed above \(the "FINRA) Tj ET Q q 0 0 0 rg BT 282.37 112.10 Td ( IC Report"\). ) Tj ET Q q 0 0 0 rg BT 336.82 112.10 Td (The FINRA) Tj ET Q q 0 0 0 rg BT 384.32 112.10 Td ( IC Report was critical of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (governance practices, its management and its compliance program at the time of the review in 2015. ) Tj ET Q q 0 0 0 rg BT 453.56 100.10 Td (The Company adopted and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (has implemented all of the recommendations made by Kalorama except for several technology projects that the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (expects to complete in the near future. ) Tj ET Q q 0 0 0 rg BT 205.31 76.10 Td (The Company believes the changes made were responsive to the recommendations made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (by Kalorama.) Tj ET Q endstream endobj 109 0 obj <>] /Rotate 0 /Contents 110 0 R>> endobj 110 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (On December15, 2016, the Company's agreement with Kalorama expired by its terms, and as of the current date has not been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (renewed, although Kalorama had not yet delivered the reports required by the SEC. In May and June 2017, Kalorama delivered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (five additional reports. ) Tj ET Q q 0 0 0 rg BT 143.13 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 148.54 718.10 Td (wo of those reports were rendered in connection with the January 2015 SEC Order) Tj ET Q q 0 0 0 rg BT 478.87 718.10 Td (, while another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (report was rendered in connection with Oppenheimer's 2015 settlement with the SEC in connection with the SEC's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Municipalities Continuing Disclosure Cooperation \("MCDC", collectively the "Required Reports"\) initiative and two additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (reports not arising out of any regulatory order \(the "Additional IC Reports"\). Each of the reports has been reviewed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 670.10 Td (, including the Compliance Committee. ) Tj ET Q q 0 0 0 rg BT 248.31 670.10 Td (The Required Reports and the ) Tj ET Q q 0 0 0 rg BT 370.22 670.10 Td (Additional IC Reports repeat a number of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (criticisms regarding the Company's governance practices, its management and its compliance programs and include a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (substantial number of recommendations, a number of which appear in the FINRA) Tj ET Q q 0 0 0 rg BT 376.59 646.10 Td ( IC Report. ) Tj ET Q q 0 0 0 rg BT 423.62 646.10 Td (The Company believes it has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (already adopted and implemented a significant number of the recommendations made in the Required Reports and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Additional IC Reports and expects that it will adopt and implement most of the remaining recommendations. However) Tj ET Q q 0 0 0 rg BT 524.21 622.10 Td (, there ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (can be no assurances that the Company will be able to implement all of the recommendations as set forth in the Required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Reports and ) Tj ET Q q 0 0 0 rg BT 100.00 598.10 Td (Additional IC Reports and, to the extent the Company does not implement or provide a satisfactory alternative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (method of implementation, the Company may be exposed to further SEC or other regulatory enforcement action. Furthermore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (implementation of the remaining recommendations included in the Required Reports and ) Tj ET Q q 0 0 0 rg BT 408.52 574.10 Td (Additional IC Reports or any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (recommendations made in any additional reports may be costly and time consuming, may divert management's attention from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (operating the Company's business and may have an adverse ef) Tj ET Q q 0 0 0 rg BT 299.05 550.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 381.99 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 386.81 550.10 Td (The Company has incurred a significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (amount of expenses in connection with the preparation of the FINRA) Tj ET Q q 0 0 0 rg BT 326.60 538.10 Td ( IC Report, the Required Reports and the ) Tj ET Q q 0 0 0 rg BT 492.40 538.10 Td (Additional IC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Reports and may continue to incur additional expenses related thereto.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 74.17 502.10 Td (August 2014, Oppenheimer has been responding to information requests from the SEC regarding the supervision of one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (of its former financial advisers who was indicted by the United States ) Tj ET Q q 0 0 0 rg BT 330.49 490.10 Td (Attorney's Of) Tj ET Q q 0 0 0 rg BT 384.60 490.10 Td (fice for the District of New Jersey in March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (2014 on allegations of insider trading. ) Tj ET Q q 0 0 0 rg BT 204.14 478.10 Td (A) Tj ET Q q 0 0 0 rg BT 210.81 478.10 Td ( number of Oppenheimer employees have provided on-the-record testimony in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (connection with the SEC inquiry) Tj ET Q q 0 0 0 rg BT 180.44 466.10 Td (. Oppenheimer is continuing to cooperate with the SEC inquiry) Tj ET Q q 0 0 0 rg BT 432.52 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Since September 2016, Oppenheimer has been responding to information requests from FINRA) Tj ET Q q 0 0 0 rg BT 432.70 442.10 Td ( \(including FINRA's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Enforcement Division\) regarding the supervision of Oppenheimer) Tj ET Q q 0 0 0 rg BT 314.18 430.10 Td () Tj ET Q q 0 0 0 rg BT 316.96 430.10 Td (s sale of unit investment trusts from 201) Tj ET Q q 0 0 0 rg BT 477.41 430.10 Td (1 to 2015. ) Tj ET Q q 0 0 0 rg BT 520.00 430.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Company understands that the inquiry is part of a lar) Tj ET Q q 0 0 0 rg BT 260.61 418.10 Td (ger tar) Tj ET Q q 0 0 0 rg BT 286.24 418.10 Td (geted examination or "sweep" examination involving many other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (brokerage firms. Oppenheimer is continuing to cooperate with the FINRA) Tj ET Q q 0 0 0 rg BT 346.04 406.10 Td ( inquiry) Tj ET Q q 0 0 0 rg BT 376.78 406.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (For a number of years, the Company of) Tj ET Q q 0 0 0 rg BT 207.56 382.10 Td (fered auction rate securities \("ARS"\) to its clients. ) Tj ET Q q 0 0 0 rg BT 409.83 382.10 Td (A) Tj ET Q q 0 0 0 rg BT 416.50 382.10 Td ( significant portion of the market in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (ARS 'failed' because, in the tight credit market in and subsequent to 2008, dealers were no longer willing or able to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (the imbalance between supply and demand for ) Tj ET Q q 0 0 0 rg BT 237.99 358.10 Td (ARS. Beginning in February 2008, uncertainties in the credit markets resulted in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (substantially all of the ) Tj ET Q q 0 0 0 rg BT 140.54 346.10 Td (ARS market experiencing failed auctions. Certain clients of the Company continue to hold ) Tj ET Q q 0 0 0 rg BT 504.90 346.10 Td (ARS in their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (individual or corporate accounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Once the auctions failed, the ) Tj ET Q q 0 0 0 rg BT 166.07 310.10 Td (ARS could no longer be valued using observable prices set in the auctions.) Tj ET Q q 0 0 0 rg BT 467.49 310.10 Td (The Company has also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (developed an internal methodology to discount for the lack of liquidity and non-performance risk of the failed auctions. Due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (liquidity problems associated with the ) Tj ET Q q 0 0 0 rg BT 204.15 286.10 Td (ARS market, ) Tj ET Q q 0 0 0 rg BT 258.31 286.10 Td (ARS that lack liquidity are setting their interest rates according to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (maximum rate formula defined in their registration statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (The Company has sought financing from a number of sources, with limited success, in order to try to find a means for all its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (clients to find liquidity from their ) Tj ET Q q 0 0 0 rg BT 186.09 238.10 Td (ARS holdings. It seems likely that liquidity will ultimately come from issuer redemptions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (tender of) Tj ET Q q 0 0 0 rg BT 85.63 226.10 Td (fers which, to date, combined with purchases by the Company have reduced client holdings by approximately 97%. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (There can be no assurance that the Company will be successful in finding a liquidity solution for its clients' remaining ) Tj ET Q q 0 0 0 rg BT 523.92 214.10 Td (ARS. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (See "Risk Factors ) Tj ET Q q 0 0 0 rg BT 136.12 202.10 Td (The Company may continue to be adversely af) Tj ET Q q 0 0 0 rg BT 322.82 202.10 Td (fected by the failure of the ) Tj ET Q q 0 0 0 rg BT 430.55 202.10 Td (Auction Rate Securities Market" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 119.71 190.10 Td ( of the Company's ) Tj ET Q q 0 0 0 rg BT 194.29 190.10 Td (Annual Report on Form 10-K for the year ended December 31, 2017 and "Factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Af) Tj ET Q q 0 0 0 rg BT 60.37 178.10 Td (fecting 'Forward-Looking Statements'" herein.) Tj ET Q endstream endobj 111 0 obj <>] /Rotate 0 /Contents 112 0 R>> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (proceedings by the Regulators concerning Oppenheimer's marketing and sale of ) Tj ET Q q 0 0 0 rg BT 371.70 730.10 Td (ARS. Pursuant to the settlements with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Regulators, Oppenheimer agreed to extend of) Tj ET Q q 0 0 0 rg BT 231.98 718.10 Td (fers to repurchase ) Tj ET Q q 0 0 0 rg BT 305.00 718.10 Td (ARS from certain of its clients subject to certain terms and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (conditions. In addition to the settlements with the Regulators, Oppenheimer has also reached settlements of and received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (adverse awards in legal proceedings with various clients where the Company is obligated to purchase ) Tj ET Q q 0 0 0 rg BT 457.38 694.10 Td (ARS. Pursuant to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (completed Purchase Of) Tj ET Q q 0 0 0 rg BT 143.12 682.10 Td (fers \(as defined\) under the settlements with the Regulators and client related legal settlements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (awards to purchase ) Tj ET Q q 0 0 0 rg BT 128.58 670.10 Td (ARS, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.70 670.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.30 670.10 Td (, the Company purchased and holds \(net of redemptions\) approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.94 670.10 Td ($88.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 658.10 Td ( in ) Tj ET Q q 0 0 0 rg BT 91.12 658.10 Td (ARS from its clients. ) Tj ET Q q 0 0 0 rg BT 177.51 658.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.95 658.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.55 658.10 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.59 658.10 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.49 658.10 Td ( in outstanding ) Tj ET Q q 0 0 0 rg BT 453.88 658.10 Td (ARS purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (commitments related to the settlements with the Regulators. In addition, the Company is committed to purchase another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.39 646.10 Td ($1) Tj ET Q q 0 0 0 rg BT 542.02 646.10 Td (1.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 634.10 Td ( from clients through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.54 634.10 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.54 634.10 Td ( under legal settlements and awards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.50 610.10 Td (ARS positions that the Company owns and is committed to purchase primarily represent auction rate preferred securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (issued by closed-end funds and, to a lesser extent, municipal auction rate securities which are municipal bonds wrapped by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (municipal bond insurance and student loan auction rate securities which are asset-backed securities backed by student loans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (The Company's clients held at Oppenheimer approximately $42.3 million of ) Tj ET Q q 0 0 0 rg BT 357.02 562.10 Td (ARS at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.69 562.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.29 562.10 Td ( exclusive of amounts that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (1\) were owned by Qualified Institutional Buyers \("QIBs"\), 2\) were transferred to the Company after February 2008, 3\) were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (purchased by clients after February 2008, or 4\) were transferred from the Company to other securities firms after February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2008. See "Of) Tj ET Q q 0 0 0 rg BT 106.39 526.10 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 171.92 526.10 Td (Arrangements" herein for additional details.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (As part of its ongoing business, the Company records reserves for legal expenses, judgments, fines and/or awards attributable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (to litigation and regulatory matters. In connection therewith, the Company has maintained its legal reserves at levels it believes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (will resolve outstanding matters, but may increase or decrease such reserves as matters warrant.In accordance with applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (accounting guidance, the Company establishes reserves for litigation and regulatory matters when those matters present loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (contingencies that are both probable and reasonably estimable. ) Tj ET Q q 0 0 0 rg BT 303.34 454.10 Td (When loss contingencies are not both probable and reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (estimable, the Company does not establish reserves. See "Legal Proceedings" in Part II, Item 1and note 12 to the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (consolidated financial statements in Part I, Item 1.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Other Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (The Company operates in all state jurisdictions in the United States and is thus subject to regulation and enforcement under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (laws and regulations of each of these jurisdictions. ) Tj ET Q q 0 0 0 rg BT 254.49 376.10 Td (The Company has been and expects that it will continue to be subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (investigations and some or all of these may result in enforcement proceedings as a result of its business conducted in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (various states. In particular) Tj ET Q q 0 0 0 rg BT 157.90 352.10 Td (, many states have become more aggressive and have imposed lar) Tj ET Q q 0 0 0 rg BT 420.12 352.10 Td (ger fines in connection with state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (registration violations than was previously the case.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (Business Continuity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (The Company is committed to an on-going investment in its technology and communications infrastructure including extensive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (business continuity planning and investment. ) Tj ET Q q 0 0 0 rg BT 232.58 286.10 Td (These costs are on-going and the Company believes that current and future costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (will exceed historic levels due to business and regulatory requirements. ) Tj ET Q q 0 0 0 rg BT 337.79 274.10 Td (The Company maintains a data center which is housed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (in a location dif) Tj ET Q q 0 0 0 rg BT 112.86 262.10 Td (ferent from its headquarters. ) Tj ET Q q 0 0 0 rg BT 228.46 262.10 Td (The Company continues to review the adequacy of its remote data center and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (anticipates that, over the next few years, it may make a determination to move the center to a more remote location than where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (it currently resides. ) Tj ET Q q 0 0 0 rg BT 129.24 238.10 Td (There is no guarantee that in the event of a significant business disruption that the Company's business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (continuity plans will be successful in restoring operations in a timely manner) Tj ET Q q 0 0 0 rg BT 357.44 226.10 Td (.) Tj ET Q endstream endobj 113 0 obj <>] /Rotate 0 /Contents 114 0 R>> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Cybersecurity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (For many years, the Company has sought to maintain the security of its clients' data, limit access to its data processing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (environment, and protect its data processing facilities. See "Risk Factors ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.34 712.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.24 712.25 Td ( ) Tj ET Q q 0 0 0 rg BT 353.55 712.25 Td (The Company may be exposed to damage to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (business or its reputation by cybersecurity incidents" in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 333.47 700.25 Td ( of the Company's ) Tj ET Q q 0 0 0 rg BT 408.05 700.25 Td (Annual Report on Form 10-K for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (year ended December 31, 2017. Recent examples of vulnerabilities by other companies and the government that have resulted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (in loss of client data and fraudulent activities by both domestic and foreign actors have caused the Company continually to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (review its security policies and procedures and to take additional actions to protect its network and its information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Given the importance of the protection of client data, regulators have developed increased oversight of cybersecurity planning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (and protections that broker) Tj ET Q q 0 0 0 rg BT 157.27 628.25 Td (-dealers and other financial service providers have implemented. Such planning and protection are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (subject to the SEC's and FINRA's oversight and examination on a periodic or tar) Tj ET Q q 0 0 0 rg BT 371.97 616.25 Td (geted basis. ) Tj ET Q q 0 0 0 rg BT 420.95 616.25 Td (The Company expects that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (regulatory oversight will intensify) Tj ET Q q 0 0 0 rg BT 185.71 604.25 Td (, as a result of publicly announced data breaches by other or) Tj ET Q q 0 0 0 rg BT 425.44 604.25 Td (ganizations involving tens of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (millions of items of personally identifiable information. ) Tj ET Q q 0 0 0 rg BT 275.33 592.25 Td (The Company continues to implement protections and adopt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (procedures to address the risks posed by the current information technology environment. ) Tj ET Q q 0 0 0 rg BT 411.11 580.25 Td (The Company has significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (increased the resources dedicated to this ef) Tj ET Q q 0 0 0 rg BT 220.85 568.25 Td (fort and believes that further increases may be required in the future, in anticipation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (of increases in the sophistication and persistency of such attacks. ) Tj ET Q q 0 0 0 rg BT 311.69 556.25 Td (There can be no guarantee that the Company's cybersecurity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 544.25 Td (forts will be successful in discovering or preventing a security breach. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (Outlook) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (The Company recognizes the importance of compliance with applicable regulatory requirements and has committed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (performing rigorous and ongoing assessments of its compliance and risk management ef) Tj ET Q q 0 0 0 rg BT 403.34 490.25 Td (forts, to investing in people and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (programs, and to providing a platform with first class investment ideas and services. ) Tj ET Q q 0 0 0 rg BT 389.46 478.25 Td (The Company is committed to continuing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (to improve its technology capabilities to ensure compliance with industry regulations, support client service and expand its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (wealth management and capital markets capabilities. ) Tj ET Q q 0 0 0 rg BT 263.34 454.25 Td (The Company's long-term growth plan is to continue to expand existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 442.25 Td (fices by hiring experienced professionals as well as expand through the purchase of operating branch of) Tj ET Q q 0 0 0 rg BT 472.55 442.25 Td (fices from other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (broker) Tj ET Q q 0 0 0 rg BT 75.90 430.25 Td (-dealers or the opening of new branch of) Tj ET Q q 0 0 0 rg BT 238.15 430.25 Td (fices in attractive locations, and to continue to grow and develop the existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (trading, investment banking, investment advisory and other divisions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (The Company is also reviewing its full service business model to determine the opportunities available to build or acquire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (closely related businesses in areas where competitors have shown some success. Equally important is the search for viable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (acquisition candidates. ) Tj ET Q q 0 0 0 rg BT 143.40 370.25 Td (The Company's long-term intention is to pursue growth by acquisition where it can find a comfortable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (match in terms of corporate goals and personnel at a price that would provide the Company's stockholders with incremental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (value. ) Tj ET Q q 0 0 0 rg BT 76.47 346.25 Td (The Company reviews potential acquisition opportunities from time to time, while evaluating and managing its existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 97.04 334.25 Td (The Company has disposed and may continue, from time to time, to dispose of businesses that are no longer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (strategic to its business operations or which have limited opportunities for growth. ) Tj ET Q q 0 0 0 rg BT 381.70 322.25 Td (The Company may use all or a portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (net proceeds of its June 2017 refinancing for the acquisition of related businesses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (The Company reported net income attributable to Oppenheimer Holdings Inc. of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.91 268.25 Td ($6.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.80 268.25 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.13 268.25 Td ($0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.63 268.25 Td ( basic net income per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (share for the first quarter of 2018 compared with a net loss attributable to Oppenheimer Holdings Inc. of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.16 256.25 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.05 256.25 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.38 256.25 Td ($0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.88 256.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (basic net loss per share for the first quarter of 2017. Income before income taxes from continuing operations was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.75 244.25 Td ($9.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.64 244.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (for the first quarter of 2018 compared with a loss before income taxes from continuing operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.05 232.25 Td ($7.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.94 232.25 Td ( for the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (quarter of 2017. Revenue from continuing operations for the first quarter of 2018 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.18 220.25 Td ($234.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.07 220.25 Td ( compared with revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (from continuing operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.20 208.25 Td ($213.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.09 208.25 Td ( for the first quarter of 2017, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.74 208.25 Td (10.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.57 208.25 Td (. ) Tj ET Q endstream endobj 115 0 obj <>] /Rotate 0 /Contents 116 0 R>> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table and discussion summarizes the changes in the major revenue and expense categories for the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ended March 31, 2018 compared with the same period in 2017:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 673.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 673.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 673.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 673.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 643.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 643.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 643.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 613.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 613.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 613.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 613.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 583.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 583.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 583.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 583.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 553.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 553.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 553.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 553.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 524.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 524.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 524.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 494.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 494.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 494.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 494.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 464.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 464.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 464.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 464.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 434.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 434.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 434.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 434.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 404.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 404.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 404.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 404.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 374.60 358.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 374.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 374.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 374.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 345.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 345.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 345.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 315.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 315.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 315.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 315.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 285.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 285.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 285.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 285.60 75.00 -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 408.5 687.6 m 483.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 687.6 m 562.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 568.6 m 483.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 568.6 m 562.5 568.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 553.6 m 483.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 553.6 m 562.5 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 449.6 m 483.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 449.6 m 562.5 449.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 434.6 m 483.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 434.6 m 562.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 434.6 m 483.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 434.6 m 562.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 404.6 m 483.5 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 404.6 m 562.5 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 404.6 m 562.5 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 330.6 m 483.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 315.6 m 483.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 330.6 m 562.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 315.6 m 562.5 315.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 270.6 m 483.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 270.6 m 562.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 256.6 m 483.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 254.60000000000002 m 483.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 270.6 m 562.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 256.6 m 562.5 256.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 254.60000000000002 m 562.5 254.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 704.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 704.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 691.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.15 691.85 Td (AmountChange) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.90 691.85 Td (%Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 678.33 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 664.17 Td (Commissions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 663.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 663.32 Td (\(3,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 663.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.80 663.32 Td (\(3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 663.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 649.17 Td (Advisory fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 648.27 Td (8,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 648.27 Td (1) Tj ET Q q 0 0 0 rg BT 546.15 648.27 Td (1.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 634.17 Td (Investment banking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 633.27 Td (10,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 633.27 Td (56.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 619.17 Td (Bank deposit sweep income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 618.27 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 618.27 Td (1,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 618.27 Td (79.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 604.17 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 603.27 Td (1,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 603.27 Td (15.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 589.17 Td (Principal transactions, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 588.32 Td (\(2,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 588.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 588.32 Td (\(49.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 588.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 574.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 573.32 Td (\(3,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 573.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 573.32 Td (\(43.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 573.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 559.17 Td (T) Tj ET Q q 0 0 0 rg BT 76.76 559.17 Td (otal revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 558.27 Td (21,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 558.27 Td (10.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 544.33 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 530.17 Td (Compensation and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 529.27 Td (9,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 529.27 Td (6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 515.17 Td (Communications and technology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 514.27 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 514.27 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 500.17 Td (Occupancy and equipment costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 499.27 Td (156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 499.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 485.17 Td (Clearing and exchange fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 484.27 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 484.27 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 470.17 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 469.27 Td (3,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 469.27 Td (67.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 455.17 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 454.32 Td (\(9,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 454.32 Td (\(29.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 454.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 440.17 Td (T) Tj ET Q q 0 0 0 rg BT 76.41 440.17 Td (otal expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 439.27 Td (4,619) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 439.27 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 425.17 Td (Income \(Loss\) before income taxes from continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 424.27 Td (16,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 424.27 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 410.17 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 409.27 Td (4,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 409.27 Td (*) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 395.33 Td (Net income \(loss\) fr) Tj ET Q q 0 0 0 rg BT 135.94 395.33 Td (om continuing operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 394.27 Td (12,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 394.27 Td (*) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 365.33 Td (Discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 351.17 Td (Income from discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 350.32 Td (\(976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 350.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 350.32 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 350.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 336.17 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 335.32 Td (\(389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 335.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 335.32 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 335.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 321.33 Td (Net income fr) Tj ET Q q 0 0 0 rg BT 111.22 321.33 Td (om discontinued operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.30 320.32 Td (\(587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 320.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 320.32 Td (\(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 320.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 291.33 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 290.27 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 290.27 Td (1,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 290.27 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 276.17 Td (Less net income attributable to non-controlling interest, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 275.32 Td (\(92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 275.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 275.32 Td (\(95.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 275.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 261.33 Td (Net income \(loss\) attributable to Oppenheimer) Tj ET Q q 0 0 0 rg BT 251.40 261.33 Td ( Holdings Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 260.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 260.27 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 260.27 Td (1,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 260.27 Td (*) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (* ) Tj ET Q q 0 0 0 rg BT 86.00 238.10 Td (Percentage not meaningful.) Tj ET Q endstream endobj 117 0 obj <>] /Rotate 0 /Contents 118 0 R>> endobj 118 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (58) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Commission revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.26 724.25 Td ($83.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.16 724.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.34 724.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.94 724.25 Td (, a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.62 724.25 Td (3.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.45 724.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.16 724.25 Td ($86.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 712.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.08 712.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.68 712.25 Td ( due to lower transaction-based revenues in both the retail and institutional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (businesses during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.86 700.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.46 700.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Advisory fees were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.25 676.25 Td ($77.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.14 676.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.33 676.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.93 676.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.95 676.25 Td (1) Tj ET Q q 0 0 0 rg BT 427.58 676.25 Td (1.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.41 676.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.11 676.25 Td ($69.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 664.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.08 664.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.68 664.25 Td ( due to a higher level of ) Tj ET Q q 0 0 0 rg BT 351.59 664.25 Td (AUM.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Investment banking revenue increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.05 640.25 Td (56.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.88 640.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.66 640.25 Td ($28.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.55 640.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.74 640.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.34 640.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.04 640.25 Td ($18.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 628.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.08 628.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.68 628.25 Td ( due to higher equity underwriting fees as well as higher mer) Tj ET Q q 0 0 0 rg BT 497.48 628.25 Td (ger and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (acquisition advisory fees during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.05 616.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 616.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (Bank deposit sweep income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.47 592.25 Td ($25.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.36 592.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.55 592.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 592.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.17 592.25 Td (79.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 592.25 Td ( compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.28 580.25 Td ($14.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.17 580.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.36 580.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.96 580.25 Td ( due to higher short-term interest rates during the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 568.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.98 568.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (Interest revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.68 544.25 Td ($12.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.57 544.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.76 544.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.36 544.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.38 544.25 Td (15.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.21 544.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.92 544.25 Td ($10.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 532.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.08 532.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.68 532.25 Td ( due primarily to an increase in interest revenue on mar) Tj ET Q q 0 0 0 rg BT 475.52 532.25 Td (gin extended to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (customers during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.18 520.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.78 520.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (Principal transactions revenue decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.93 496.25 Td (49.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.76 496.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.54 496.25 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.43 496.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.61 496.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.21 496.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.92 496.25 Td ($5.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 484.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.08 484.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.68 484.25 Td ( due to lower trading income from corporate and municipal bonds during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.81 472.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.41 472.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (Other revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.47 448.25 Td ($5.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 448.25 Td ( for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.54 448.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.14 448.25 Td (, a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.83 448.25 Td (43.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.66 448.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.36 448.25 Td ($9.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.25 448.25 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.53 436.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.13 436.25 Td ( due to changes in the cash surrender value of Company-owned life insurance during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.53 424.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.13 424.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Compensation and related expenses \(including salaries, production and incentive compensation, share-based compensation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (deferred compensation, and other benefit-related items\) totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.34 370.25 Td ($153.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.23 370.25 Td ( during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.86 370.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.46 370.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.02 358.25 Td (6.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.85 358.25 Td ( compared with the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.08 358.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.68 358.25 Td (. Higher production-related, incentive, and share-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (based compensation expenses were partially of) Tj ET Q q 0 0 0 rg BT 237.81 346.25 Td (fset by lower deferred compensation costs during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 334.25 Td (. Compensation and related expenses as a percentage of revenue was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.71 334.25 Td (65.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.54 334.25 Td ( during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 322.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.30 322.25 Td (67.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.13 322.25 Td ( during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.77 322.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.37 322.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (Non-compensation expenses were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.12 298.25 Td ($71.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.01 298.25 Td ( during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 298.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.25 298.25 Td (, a decrease of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.93 298.25 Td (6.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.76 298.25 Td ( compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.28 286.25 Td ($76.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.17 286.25 Td ( during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.81 286.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.40 286.25 Td ( primarily due to a char) Tj ET Q q 0 0 0 rg BT 407.80 286.25 Td (ge related to a value-added tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (assessment levied by the Israel ) Tj ET Q q 0 0 0 rg BT 175.62 274.25 Td (V) Tj ET Q q 0 0 0 rg BT 181.55 274.25 Td (A) Tj ET Q q 0 0 0 rg BT 187.66 274.25 Td (T) Tj ET Q q 0 0 0 rg BT 193.59 274.25 Td ( ) Tj ET Q q 0 0 0 rg BT 195.54 274.25 Td (Authority in the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.73 274.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.33 274.25 Td ( as well as lower legal and regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (costs partially of) Tj ET Q q 0 0 0 rg BT 116.47 262.25 Td (fset by higher interest costs during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.52 262.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.12 262.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 75.63 238.25 Td (fective income tax rate from continuing operations for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.53 238.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.13 238.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.68 238.25 Td (30.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.51 238.25 Td ( \(tax expense\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.20 226.25 Td (24.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.03 226.25 Td ( \(tax benefit\) for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.86 226.25 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.46 226.25 Td ( and reflects the Company's estimate of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (annual ef) Tj ET Q q 0 0 0 rg BT 86.74 214.25 Td (fective tax rate adjusted for certain discrete items. ) Tj ET Q q 0 0 0 rg BT 288.41 214.25 Td (The low estimated ef) Tj ET Q q 0 0 0 rg BT 372.37 214.25 Td (fective tax rate for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 202.25 Td ( is due to the lower Federal tax rate of 21% \(versus 35%\) as a result of the passage of the ) Tj ET Q q 0 0 0 rg BT 471.36 202.25 Td (TCJA) Tj ET Q q 0 0 0 rg BT 494.70 202.25 Td ( in December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (2017 of) Tj ET Q q 0 0 0 rg BT 80.65 190.25 Td (fset by foreign income inclusion and lar) Tj ET Q q 0 0 0 rg BT 239.87 190.25 Td (ger non-deductible expenses related to items such as entertainment, fringe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (benefits, regulatory fines and penalties, and limitations around the deductibility of executive compensation under the ) Tj ET Q q 0 0 0 rg BT 519.40 178.25 Td (TCJA.) Tj ET Q endstream endobj 119 0 obj <>] /Rotate 0 /Contents 120 0 R>> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The table below presents information about the reported revenue and income \(loss\) before income taxes from continuing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (operations of the Company's reportable business segments for the three months ended March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.21 730.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.21 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 730.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 730.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 674.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 674.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 674.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 674.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 674.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 674.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 645.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 645.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 645.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 645.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 645.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 645.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 615.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 615.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 615.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 615.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 615.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 615.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 585.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 585.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 585.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 585.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 585.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 585.60 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 556.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 556.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 556.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 556.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 526.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 526.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 526.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 526.60 75.00 -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 329.5 687.6 m 404.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 687.6 m 408.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 687.6 m 483.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 687.6 m 487.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 687.6 m 562.5 687.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 674.6 m 404.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 674.6 m 483.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 674.6 m 562.5 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 600.6 m 404.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 600.6 m 483.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 586.6 m 404.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 584.6 m 404.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 586.6 m 483.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 584.6 m 483.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 600.6 m 562.5 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 584.6 m 562.5 584.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 511.6 m 404.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 511.6 m 483.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 497.6 m 404.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 495.6 m 404.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 497.6 m 483.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 495.6 m 483.5 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 511.6 m 562.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 495.6 m 562.5 495.6 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 705.55 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 705.55 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 691.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.90 691.85 Td (For the ) Tj ET Q q 0 0 0 rg BT 406.71 691.85 Td (Three Months Ended March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 678.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.50 678.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 678.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.90 678.85 Td (%Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 665.33 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 651.17 Td (Private Client) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 650.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 650.27 Td (154,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 650.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 650.27 Td (137,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 650.27 Td (12.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 636.17 Td (Asset Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 635.27 Td (17,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 635.27 Td (18,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.80 635.32 Td (\(5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 635.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 621.17 Td (Capital Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 620.27 Td (61,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 620.27 Td (55,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 620.27 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 606.17 Td (Corporate/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 605.27 Td (1,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 605.27 Td (1,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.80 605.32 Td (\(3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 605.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 591.17 Td (T) Tj ET Q q 0 0 0 rg BT 76.76 591.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 590.27 Td (234,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 590.27 Td (213,261) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 590.27 Td (10.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 576.33 Td (Income \(Loss\) befor) Tj ET Q q 0 0 0 rg BT 138.36 576.33 Td (e income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 562.17 Td (Private Client) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 561.27 Td (40,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 561.27 Td (28,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 561.27 Td (39.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 547.17 Td (Asset Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 546.27 Td (3,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 546.27 Td (3,71) Tj ET Q q 0 0 0 rg BT 474.65 546.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 546.27 Td (0.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 532.17 Td (Capital Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.80 531.32 Td (\(6,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 531.32 Td (\(12,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 531.32 Td (\(52.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 517.17 Td (Corporate/Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.80 516.32 Td (\(28,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 516.32 Td (\(26,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 516.27 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 502.17 Td (T) Tj ET Q q 0 0 0 rg BT 76.41 502.17 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 501.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 501.27 Td (9,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 501.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 501.32 Td (\(7,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.00 501.27 Td (*) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (* ) Tj ET Q q 0 0 0 rg BT 86.00 479.10 Td (Percentage not meaningful.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 453.53505859375 m 109.7021484375 453.53505859375 l s q 0 0 0 rg BT 50.00 455.10 Td (Private Client) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (Private Client reported revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.56 437.10 Td ($154.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.45 437.10 Td ( for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.08 437.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.08 437.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.08 437.10 Td (12.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.91 437.10 Td ( higher than the first quarter of 2017 due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td (to increased advisory fee revenue from higher ) Tj ET Q q 0 0 0 rg BT 235.76 425.10 Td (AUM, higher fees earned on client deposits in the FDIC-insured bank deposit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.10 Td (program, and higher mar) Tj ET Q q 0 0 0 rg BT 149.23 413.10 Td (gin interest revenue during the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.17 413.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.17 413.10 Td (. Income before income taxes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.72 413.10 Td ($40.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.61 413.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 401.10 Td (the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.97 401.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.97 401.10 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.99 401.10 Td (39.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.82 401.10 Td ( compared with the first quarter of 2017 due to the increases in revenue referred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.10 Td (to above during the first quarter of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 365.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 365.10 Td (Client assets under administration were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.24 365.10 Td ($84.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.35 365.10 Td ( at March 31, 2018 compared with $86.9 billion at December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 353.10 Td (2017, a decrease of 2.3%.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 335.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 335.10 Td (Financial adviser headcount was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.73 335.10 Td (1,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.23 335.10 Td ( at the end of the first quarter of 2018, down from 1,159 at the end of the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 323.10 Td (quarter of 2017. ) Tj ET Q q 0 0 0 rg BT 152.46 323.10 Td (The decline in financial adviser headcount since the first quarter of 2017 has resulted from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 311.10 Td (Company's attention to adviser productivity) Tj ET Q q 0 0 0 rg BT 260.46 311.10 Td (. ) Tj ET Q q 0 0 0 rg BT 265.28 311.10 Td (The decline in headcount also has been impacted by retirements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 299.10 Td (normal attrition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 281.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 281.10 Td (Retail commissions were $51.1 million for the first quarter of 2018, a decrease of 1.4% from the first quarter of 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 269.10 Td (due to reduced transaction volumes from retail investors during the first quarter of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 251.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 251.10 Td (Advisory fee revenue on traditional and alternative managed products was $60.1 million for the first quarter of 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 239.10 Td (an increase of 16.9% from the first quarter of 2017 \(see ) Tj ET Q q 0 0 0 rg BT 309.81 239.10 Td (Asset Management below for further information\). ) Tj ET Q q 0 0 0 rg BT 515.40 239.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 227.10 Td (increase in advisory fees was due to the increase in the value of ) Tj ET Q q 0 0 0 rg BT 341.74 227.10 Td (AUM. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 209.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 209.10 Td (Bank deposit sweep income was $25.3 million for the first quarter of 2018, an increase of 79.1% compared with $14.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 197.10 Td (million for the first quarter of 2017 due to higher short-term interest rates during the first quarter of 2018.) Tj ET Q endstream endobj 121 0 obj <>] /Rotate 0 /Contents 122 0 R>> endobj 122 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (60) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 131.3720703125 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (Asset Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Asset Management reported revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.21 724.25 Td ($17.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.11 724.25 Td ( for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.74 724.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.74 724.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.74 724.25 Td (5.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.57 724.25 Td ( lower than the first quarter of 2017 due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (to a change in the method of reporting management fees earned through an investment adviser of alternative investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (during the first quarter of 2018. Income before income taxes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.13 700.25 Td ($3.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.03 700.25 Td ( for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.66 700.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.66 700.25 Td (, an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.68 700.25 Td (0.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.51 700.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (compared with the first quarter of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 664.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 664.25 Td (Advisory fee revenue on traditional and alternative managed products was $17.4 million for the first quarter of 2018, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 652.25 Td (decrease of 3.3% from the first quarter of 2017. ) Tj ET Q q 0 0 0 rg BT 278.43 652.25 Td (Advisory fees are calculated based on the value of ) Tj ET Q q 0 0 0 rg BT 481.41 652.25 Td (AUM at the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 640.25 Td (the prior quarter which totaled $28.3 billion at December 31, 2017 \($24.8 billion at December 31, 2016\) and are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 628.25 Td (allocated to the Private Client and ) Tj ET Q q 0 0 0 rg BT 223.74 628.25 Td (Asset Management business segments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (AUM increased 9.3% to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.70 610.25 Td ($28.2 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.81 610.25 Td ( at March 31, 2018 compared with $25.8 billion at March 31, 2017. ) Tj ET Q q 0 0 0 rg BT 508.71 610.25 Td (AUM at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (March 31, 2018 is the basis for advisory fee billings for the second quarter of 2018. ) Tj ET Q q 0 0 0 rg BT 422.41 598.25 Td (The increase in ) Tj ET Q q 0 0 0 rg BT 485.43 598.25 Td (AUM was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td (comprised of asset appreciation of $1.3 billion and net contributions of assets of $1.1 billion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (The following table provides a breakdown of the change in assets under management for the three months ended March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 550.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.75 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 481.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 481.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 481.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 481.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 481.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 481.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 481.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 481.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 481.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 481.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.75 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 451.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 451.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 451.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 451.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 451.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 451.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 451.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 451.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 451.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 451.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 421.75 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 421.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 421.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 421.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 421.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 421.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 421.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 421.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 421.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 421.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 421.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 391.75 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 391.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 391.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 391.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 391.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 391.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 391.75 55.00 -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 271.5 507.75 m 326.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 507.75 m 330.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 507.75 m 385.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385.5 507.75 m 389.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 507.75 m 444.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 507.75 m 448.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 507.75 m 503.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 507.75 m 507.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 507.75 m 562.5 507.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 481.75 m 267.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 481.75 m 326.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 481.75 m 385.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 481.75 m 444.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 481.75 m 503.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 481.75 m 562.5 481.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 391.75 m 326.5 391.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 391.75 m 385.5 391.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 391.75 m 444.5 391.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 391.75 m 503.5 391.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 377.75 m 326.5 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 375.75 m 326.5 375.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 377.75 m 385.5 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 375.75 m 385.5 375.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 377.75 m 444.5 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 375.75 m 444.5 375.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 377.75 m 503.5 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 375.75 m 503.5 375.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 391.75 m 562.5 391.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 377.75 m 562.5 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 375.75 m 562.5 375.75 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 525.00 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 525.00 Td (essed in millions\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 525.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 512.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 346.25 512.00 Td (For the three months ended March31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 499.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.80 494.00 Td (Beginning) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.60 486.00 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 499.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 499.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.60 494.00 Td (Appreciation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.15 486.00 Td (\(Depreciation\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.90 494.00 Td (Ending) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.60 486.00 Td (Balance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 486.70 Td (Fund ) Tj ET Q q 0 0 0 rg BT 71.30 486.70 Td (T) Tj ET Q q 0 0 0 rg BT 75.63 486.70 Td (ype) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.45 486.00 Td (Contributions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.35 486.00 Td (Redemptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 471.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 471.42 Td (raditional ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 99.58 475.49 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 471.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 471.42 Td (24,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 471.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 471.42 Td (791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 471.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.30 471.47 Td (\(509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 471.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 471.47 Td (\(427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 471.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 471.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 471.42 Td (24,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 456.42 Td (Institutional Fixed Income ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 161.59 460.49 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 456.42 Td (695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 456.42 Td (1) Tj ET Q q 0 0 0 rg BT 376.65 456.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 456.47 Td (\(3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.30 456.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 456.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 456.42 Td (697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.32 Td (Alternative Investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 426.42 Td (Hedge funds ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 126.32 430.49 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 426.42 Td (2,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 426.42 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.30 426.47 Td (\(155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 426.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 426.42 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 426.42 Td (2,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 411.42 Td (Private Equity Funds ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 159.94 415.49 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 411.42 Td (185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.65 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 411.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 411.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 411.42 Td (186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 396.42 Td (Portfolio Enhancement Program ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 204.91 400.49 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 396.42 Td (521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 396.42 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 396.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 396.42 Td (525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 381.42 Td (28,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 381.42 Td (896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.30 381.47 Td (\(667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.30 381.47 Td (\(335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 381.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 381.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 381.42 Td (28,175) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.00 377.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 359.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.76 359.25 Td (raditional investments include third party advisory programs, Oppenheimer financial adviser managed and advisory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 347.25 Td (programs, and Oppenheimer ) Tj ET Q q 0 0 0 rg BT 202.08 347.25 Td (Asset Management taxable and tax-exempt portfolio management strategies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 335.25 Td (Institutional fixed income provides solutions to institutional investors including: ) Tj ET Q q 0 0 0 rg BT 409.40 335.25 Td (T) Tj ET Q q 0 0 0 rg BT 414.81 335.25 Td (aft-Hartley Funds, Public Pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 323.25 Td (Funds, Corporate Pension Funds, and Foundations and Endowments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 311.25 Td (Hedge funds represent single manager hedge fund strategies in areas including hedged equity) Tj ET Q q 0 0 0 rg BT 458.56 311.25 Td (, technology and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 299.25 Td (financial services, and multi-manager and multi-strategy fund of funds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 287.25 Td (Private equity funds represent private equity fund of funds including portfolios focused on natural resources and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 275.25 Td (related assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.25 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 263.25 Td (The portfolio enhancement program sells uncovered, far out-of-money puts and calls on the S&P) Tj ET Q q 0 0 0 rg BT 473.86 263.25 Td ( 500 Index. ) Tj ET Q q 0 0 0 rg BT 521.44 263.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 251.25 Td (program is market neutral and uncorrelated to the index.) Tj ET Q endstream endobj 123 0 obj <>] /Rotate 0 /Contents 124 0 R>> endobj 124 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (61) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 120.2685546875 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (Capital Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Capital Markets reported revenue of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.44 724.25 Td ($61.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.33 724.25 Td ( for the first quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.96 724.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.96 724.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.96 724.25 Td (10.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.79 724.25 Td ( higher than the first quarter of 2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (primarily due to higher equities underwriting and mer) Tj ET Q q 0 0 0 rg BT 265.04 712.25 Td (ger and acquisition advisory fees partially of) Tj ET Q q 0 0 0 rg BT 443.13 712.25 Td (fset by lower institutional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (equities and fixed income commissions during the first quarter of 2018. Loss before income taxes was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.29 700.25 Td ($6.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.18 700.25 Td ( for the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.65 688.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.65 688.25 Td (, compared with a loss before income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.70 688.25 Td ($12.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.59 688.25 Td ( for the first quarter of 2017 primarily due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (char) Tj ET Q q 0 0 0 rg BT 67.03 676.25 Td (ge related to a value-added tax assessment levied by the Israel ) Tj ET Q q 0 0 0 rg BT 317.58 676.25 Td (V) Tj ET Q q 0 0 0 rg BT 323.51 676.25 Td (A) Tj ET Q q 0 0 0 rg BT 329.62 676.25 Td (T) Tj ET Q q 0 0 0 rg BT 335.55 676.25 Td ( ) Tj ET Q q 0 0 0 rg BT 337.50 676.25 Td (Authority in the first quarter of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 652.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 652.25 Td (Institutional equities commissions decreased 3.3% to $23.2 million for the first quarter of 2018 compared with the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 640.25 Td (quarter of 2017 as higher volatility during late January and early February of 2018 was not enough to of) Tj ET Q q 0 0 0 rg BT 501.82 640.25 Td (fset lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 628.25 Td (client trading activity in March of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 610.25 Td (Advisory fees from investment banking activities increased 23.6% to $8.9 million in the first quarter of 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (compared with the first quarter of 2017 due to higher fees earned on completed mer) Tj ET Q q 0 0 0 rg BT 420.70 598.25 Td (gers and acquisitions transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.25 Td (during the first quarter of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 568.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.25 Td (Equity underwriting fees increased 347.1% to $15.2 million for the first quarter of 2018 compared with the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 556.25 Td (quarter of 2017 due to the Company's increased focus on equity issuance leading to higher equity underwriting activity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 544.25 Td (during the first quarter of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 526.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.25 Td (Revenue from ) Tj ET Q q 0 0 0 rg BT 145.24 526.25 Td (T) Tj ET Q q 0 0 0 rg BT 150.65 526.25 Td (axable Fixed Income decreased 15.4% to $12.1 million for the first quarter of 2018 compared with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.25 Td (first quarter of 2017 due to concerns around a rising interest rate environment which led to decreased institutional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.25 Td (fixed income activity during the first quarter of 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 484.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 484.25 Td (Public Finance and Municipal ) Tj ET Q q 0 0 0 rg BT 208.57 484.25 Td (T) Tj ET Q q 0 0 0 rg BT 214.33 484.25 Td (rading revenue decreased 52.0% to $2.4 million for the first quarter of 2018 compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 472.25 Td (with the first quarter of 2017 due to lower municipal income trading revenue amid more volatile markets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 448.25 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 430.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 430.25 Td (, total assets increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.96 430.25 Td (3.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.79 430.25 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.22 430.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.81 430.25 Td (. ) Tj ET Q q 0 0 0 rg BT 358.63 430.25 Td (The Company satisfies its need for short-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (financing from internally generated funds and collateralized and uncollateralized borrowings, consisting primarily of bank call ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (loans, stock loans, and uncommitted lines of credit. ) Tj ET Q q 0 0 0 rg BT 257.83 406.25 Td (The Company finances its trading in government securities through the use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (of securities sold under agreements to repurchase \("repurchase agreements"\). ) Tj ET Q q 0 0 0 rg BT 360.63 394.25 Td (The Company has met its longer) Tj ET Q q 0 0 0 rg BT 490.68 394.25 Td (-term capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (needs through the issuance of the 6.75% Senior Secured Notes due 2022 \(the "Notes"\) \(see "Refinancing" below\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Oppenheimer has arrangements with banks for borrowings on a fully-collateralized basis. ) Tj ET Q q 0 0 0 rg BT 410.26 370.25 Td (The amount of Oppenheimer's bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (borrowings fluctuates in response to changes in the level of the Company's securities inventories and customer mar) Tj ET Q q 0 0 0 rg BT 510.39 358.25 Td (gin debt, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (changes in notes receivable from employees, investment in furniture, equipment and leasehold improvements, and changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (stock loan balances and financing through repurchase agreements. ) Tj ET Q q 0 0 0 rg BT 316.85 334.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.35 334.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.94 334.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.99 334.25 Td ($147.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.88 334.25 Td ( of such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (borrowings outstanding compared to outstanding borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.47 322.25 Td ($1) Tj ET Q q 0 0 0 rg BT 317.09 322.25 Td (18.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.99 322.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.20 322.25 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.79 322.25 Td (. ) Tj ET Q q 0 0 0 rg BT 461.61 322.25 Td (The Company also has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (some availability of short-term bank financing on an unsecured basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (The Company's overseas subsidiaries, Oppenheimer Europe Ltd. and Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 435.60 286.25 Td (Asia Limited, are subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (local regulatory capital requirements that restrict the Company's ability to utilize their capital for other purposes. ) Tj ET Q q 0 0 0 rg BT 502.31 274.25 Td (The regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (capital requirements for Oppenheimer Europe Ltd. and Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 379.34 262.25 Td (Asia Limited were $6.5 million and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td ($387,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 250.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 140.16 250.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.88 250.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.48 250.25 Td (. In December 2017, Oppenheimer Europe Ltd. received approval from the FCA) Tj ET Q q 0 0 0 rg BT 539.48 250.25 Td ( for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (variation of permission to remove the limitation of "matched principal business" from the firm's scope of permitted businesses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (and become a "Full-Scope Prudential Sourcebook for Investment Firms \(IFPRU\) 730K" firm, ef) Tj ET Q q 0 0 0 rg BT 439.86 226.25 Td (fective in January 2018. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (December 2017, the Company contributed additional capital of $7.0 million to Oppenheimer Europe Ltd. in order to facilitate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (this new permissioning. See note 13 to the condensed consolidated financial statements in Item1 for further details. ) Tj ET Q q 0 0 0 rg BT 515.26 202.25 Td (The liquid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (assets at Oppenheimer Europe Ltd. are primarily comprised of cash deposits in bank accounts. ) Tj ET Q q 0 0 0 rg BT 429.71 190.25 Td (The liquid assets at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 157.20 178.25 Td (Asia Limited are primarily comprised of investments in U.S. ) Tj ET Q q 0 0 0 rg BT 402.25 178.25 Td (T) Tj ET Q q 0 0 0 rg BT 408.00 178.25 Td (reasuries and cash deposits in bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (accounts. ) Tj ET Q q 0 0 0 rg BT 89.43 166.25 Td (Any restrictions on transfer of these liquid assets from Oppenheimer Europe Ltd. and Oppenheimer Investments ) Tj ET Q q 0 0 0 rg BT 540.43 166.25 Td (Asia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (Limited to the Company or its other subsidiaries would be limited by the regulatory capital requirements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (The Company permanently reinvests eligible earnings of its foreign subsidiaries in such subsidiaries and, accordingly) Tj ET Q q 0 0 0 rg BT 519.52 130.25 Td (, does not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (accrue any U.S. income taxes that would arise if these earnings were repatriated. ) Tj ET Q q 0 0 0 rg BT 374.69 118.25 Td (The unrecognized deferred tax liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (associated with earnings of foreign subsidiaries is estimated at $3.0 million for those subsidiaries with respect to which the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (Company would be subject to residual U.S. tax on cumulative earnings through March 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.10 94.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.10 94.25 Td ( were those earnings to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (repatriated. ) Tj ET Q q 0 0 0 rg BT 97.57 82.25 Td (The Company has continued to reinvest permanently the excess earnings of Oppenheimer Israel \(OPCO\) Ltd. in its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (own business and in the businesses in Europe and ) Tj ET Q q 0 0 0 rg BT 250.81 70.25 Td (Asia to support business initiatives in those regions. ) Tj ET Q q 0 0 0 rg BT 460.89 70.25 Td (W) Tj ET Q q 0 0 0 rg BT 469.93 70.25 Td (ith the passage of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (TCJA, the Company will review its historical treatment of these earnings to determine whether its historical practice will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (continue or whether a change is warranted. ) Tj ET Q endstream endobj 125 0 obj <>] /Rotate 0 /Contents 126 0 R>> endobj 126 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (proceedings concerning Oppenheimer's marketing and sale of ) Tj ET Q q 0 0 0 rg BT 298.66 730.10 Td (ARS. Pursuant to those settlements and legal settlements and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (awards, the Company has purchased and will, subject to the terms and conditions of the settlements, continue to purchase ) Tj ET Q q 0 0 0 rg BT 537.66 718.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (on a periodic basis. ) Tj ET Q q 0 0 0 rg BT 129.52 706.10 Td (The ultimate amount of ) Tj ET Q q 0 0 0 rg BT 225.61 706.10 Td (ARS to be repurchased by the Company cannot be predicted with any certainty and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (will be impacted by redemptions by issuers and legal and other actions by clients during the relevant period which cannot be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (predicted. See "Of) Tj ET Q q 0 0 0 rg BT 123.59 682.10 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 189.12 682.10 Td (Arrangements" herein.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Additional fines, penalties and settlements of regulatory matters could have an adverse ef) Tj ET Q q 0 0 0 rg BT 407.20 658.10 Td (fect on the Company's liquidity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (depending on the size and composition of any such settlement.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Refinancing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (On June23, 2017, the Parent issued in a private of) Tj ET Q q 0 0 0 rg BT 251.45 604.10 Td (fering $200.0 million aggregate principal amount of 6.75% Senior Secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (Notes due 2022 \(the "Unregistered Notes"\) under an indenture at an issue price of 100% of the principal amount. On September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (19, 2017, the Parent completed an exchange of) Tj ET Q q 0 0 0 rg BT 237.26 580.10 Td (fer in which the Parent exchanged 99.8% of its Unregistered Notes for a like ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (principal amount of notes with identical terms except that such new notes have been registered under the Securities ) Tj ET Q q 0 0 0 rg BT 512.63 568.10 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (1933, as amended \(the "Notes"\). ) Tj ET Q q 0 0 0 rg BT 182.11 556.10 Td (The Parent did not receive any proceeds in the exchange of) Tj ET Q q 0 0 0 rg BT 418.50 556.10 Td (fer) Tj ET Q q 0 0 0 rg BT 429.05 556.10 Td (. ) Tj ET Q q 0 0 0 rg BT 433.87 556.10 Td (The interest on the Notes is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (payable semi-annually on January 1st and July 1st, beginning January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 366.70 544.10 Td (The Parent used a portion of the net proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (from the of) Tj ET Q q 0 0 0 rg BT 94.80 532.10 Td (fering of the Notes to redeem in full its 8.75% Senior Secured Notes due ) Tj ET Q q 0 0 0 rg BT 387.24 532.10 Td (April 15, 2018 in the principal amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td ($120.0 million, and pay all related fees and expenses related thereto. See note 9 to the condensed consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (statements in Item 1 for further discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (On June 15, 2017, S&P) Tj ET Q q 0 0 0 rg BT 144.08 484.10 Td ( upgraded the Company's 'B' Corporate Family rating and 'B' rating on the Notes to 'B+' with a stable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (outlook. On December 18, 2017, Moody's Corporation af) Tj ET Q q 0 0 0 rg BT 279.36 472.10 Td (firmed the Company's 'B2' Corporate Family rating and 'B1' rating on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (the Notes and af) Tj ET Q q 0 0 0 rg BT 115.07 460.10 Td (firmed its stable outlook.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (Liquidity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (For the most part, the Company's assets consist of cash and cash equivalents and assets that it can readily convert into cash. ) Tj ET Q q 0 0 0 rg BT 545.95 418.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (receivable from brokers, dealers and clearing or) Tj ET Q q 0 0 0 rg BT 241.11 406.10 Td (ganizations represents deposits for securities borrowed transactions, mar) Tj ET Q q 0 0 0 rg BT 530.84 406.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (deposits or current transactions awaiting settlement. ) Tj ET Q q 0 0 0 rg BT 260.04 394.10 Td (The receivable from customers represents mar) Tj ET Q q 0 0 0 rg BT 445.05 394.10 Td (gin balances and amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (due on transactions awaiting settlement. ) Tj ET Q q 0 0 0 rg BT 212.55 382.10 Td (The Company's receivables are, for the most part, collateralized by marketable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 92.58 370.10 Td (The Company's collateral maintenance policies and procedures are designed to limit the Company's exposure to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (credit risk. Securities owned, with the exception of the ) Tj ET Q q 0 0 0 rg BT 270.22 358.10 Td (ARS, are mainly comprised of actively trading readily marketable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 92.58 346.10 Td (The Company advanced $5.4 million in for) Tj ET Q q 0 0 0 rg BT 265.42 346.10 Td (givable notes \(which are inherently illiquid\) to employees for the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 334.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.92 334.10 Td ( \($6.6 million for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.83 334.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.43 334.10 Td (\) as upfront or backend inducements to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (continue employment. ) Tj ET Q q 0 0 0 rg BT 141.74 322.10 Td (The amount of funds allocated to such inducements will vary with hiring activity) Tj ET Q q 0 0 0 rg BT 464.91 322.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (The Company satisfies its need for short-term liquidity from internally generated funds, collateralized and uncollateralized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (bank borrowings, stock loans and repurchase agreements and warehouse facilities. Bank borrowings are collateralized by firm ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (and customer securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (The Company obtains short-term borrowings primarily through bank call loans. Bank call loans are generally payable on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (demand and bear interest at various rates not exceeding the broker call rate. ) Tj ET Q q 0 0 0 rg BT 353.76 238.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.26 238.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.86 238.10 Td (, bank call loans were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.27 238.10 Td ($147.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 226.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.72 226.10 Td ($1) Tj ET Q q 0 0 0 rg BT 94.35 226.10 Td (18.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.24 226.10 Td ( at December31, 2017 and $195.7 million at March 31, 2017\). ) Tj ET Q q 0 0 0 rg BT 396.34 226.10 Td (The average daily bank loan outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.69 214.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.29 214.10 Td ( was $96.3 million \($141.1 million for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.64 214.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.24 214.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 546.39 214.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (lar) Tj ET Q q 0 0 0 rg BT 60.37 202.10 Td (gest daily bank loan outstanding for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.98 202.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.58 202.10 Td ( was $180.3 million \($229.5 million for the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 190.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.92 190.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 180.07 190.10 Td (The average weighted interest rate on bank call loans applicable on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.35 190.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.95 190.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (2.33%.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 154.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 154.10 Td (, securities loan balances totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.71 154.10 Td ($174.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.61 154.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.44 154.10 Td ($180.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.33 154.10 Td ( at December31, 2017 and $142.1 million at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (March 31, 2017\). ) Tj ET Q q 0 0 0 rg BT 121.75 142.10 Td (The average daily securities loan balance for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.57 142.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.17 142.10 Td ( was $192.9 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (\($154.5 million for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.41 130.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.01 130.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 296.16 130.10 Td (The lar) Tj ET Q q 0 0 0 rg BT 324.57 130.10 Td (gest daily stock loan balance for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 118.10 Td ( was $221.4 million \($183.1 million for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.95 118.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.55 118.10 Td (\).) Tj ET Q endstream endobj 127 0 obj <>] /Rotate 0 /Contents 128 0 R>> endobj 128 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The Company finances its government trading operations through the use of securities purchased under agreements to resell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (\("reverse repurchase agreements"\) and repurchase agreements. Except as described below) Tj ET Q q 0 0 0 rg BT 409.00 730.10 Td (, repurchase and reverse repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (agreements, principally involving government and agency securities, are carried at amounts at which securities subsequently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (will be resold or reacquired as specified in the respective agreements and include accrued interest. Repurchase and reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (repurchase agreements are presented on a net-by-counterparty basis, when the repurchase and reverse repurchase agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (are executed with the same counterparty) Tj ET Q q 0 0 0 rg BT 210.66 682.10 Td (, have the same explicit settlement date, are executed in accordance with a master ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (netting arrangement, the securities underlying the repurchase and reverse repurchase agreements exist in "book entry" form and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (certain other requirements are met.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Certain of the Company's repurchase agreements and reverse repurchase agreements are carried at fair value as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Company's fair value option election. ) Tj ET Q q 0 0 0 rg BT 202.14 622.10 Td (The Company elected the fair value option for those repurchase agreements and reverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (repurchase agreements that do not settle overnight or have an open settlement date. ) Tj ET Q q 0 0 0 rg BT 384.70 610.10 Td (The Company has elected the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (option for these instruments to more accurately reflect market and economic events in its earnings and to mitigate a potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (imbalance in earnings caused by using dif) Tj ET Q q 0 0 0 rg BT 217.55 586.10 Td (ferent measurement attributes \(i.e. fair value versus carrying value\) for certain assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (and liabilities. ) Tj ET Q q 0 0 0 rg BT 108.60 574.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.10 574.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.70 574.10 Td (, the Company did not have any repurchase agreements and reverse repurchase agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (that do not settle overnight or have an open settlement date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 538.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 538.10 Td (, the gross balances of reverse repurchase agreements and repurchase agreements were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.09 538.10 Td ($99.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.98 538.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td ($675.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 526.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 161.55 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 166.37 526.10 Td (The average daily balance of reverse repurchase agreements and repurchase agreements on a gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (basis for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.19 514.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.79 514.10 Td ( was $99.0 million and $675.0 million, respectively \($240.7 million and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td ($666.8 million, respectively) Tj ET Q q 0 0 0 rg BT 161.55 502.10 Td (, for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.24 502.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.84 502.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 347.99 502.10 Td (The lar) Tj ET Q q 0 0 0 rg BT 376.40 502.10 Td (gest amount of reverse repurchase agreements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (and repurchase agreements outstanding on a gross basis during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.63 490.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.23 490.10 Td ( was $335.2 million and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td ($894.0 million, respectively \($383.6 million and $812.9 million, respectively) Tj ET Q q 0 0 0 rg BT 357.92 478.10 Td (, for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.60 478.10 Td (March31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.20 478.10 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 454.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.10 454.10 Td (, the gross leverage ratio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.67 454.10 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.17 454.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Liquidity Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (The Company manages its need for liquidity on a daily basis to ensure compliance with regulatory requirements. ) Tj ET Q q 0 0 0 rg BT 503.59 412.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (Company's liquidity needs may be af) Tj ET Q q 0 0 0 rg BT 197.98 400.10 Td (fected by market conditions, increased inventory positions, business expansion and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (unanticipated occurrences. In the event that existing financial resources do not satisfy the Company's needs, the Company may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (have to seek additional external financing. ) Tj ET Q q 0 0 0 rg BT 221.70 376.10 Td (The availability of such additional external financing may depend on market factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (outside the Company's control.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (The Company regularly reviews its sources of liquidity and financing and conducts internal stress analyses to determine the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (impact on the Company of events that could remove sources of liquidity or financing and to plan actions the Company could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (take in the case of such an eventuality) Tj ET Q q 0 0 0 rg BT 201.24 316.10 Td (. ) Tj ET Q q 0 0 0 rg BT 206.05 316.10 Td (The Company's reviews have resulted in plans that the Company believes would result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (in a reduction of assets through liquidation that would significantly reduce the Company's need for external financing.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (Funding Risk) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 224.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 224.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 224.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 224.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 194.60 358.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 194.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 194.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 194.60 75.00 -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 408.5 237.60000000000002 m 483.5 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 224.60000000000002 m 483.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 237.60000000000002 m 562.5 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 224.60000000000002 m 562.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 224.60000000000002 m 483.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 224.60000000000002 m 562.5 224.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 179.60000000000002 m 483.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 179.60000000000002 m 562.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 179.60000000000002 m 483.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 165.60000000000002 m 483.5 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 163.60000000000002 m 483.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 165.60000000000002 m 562.5 165.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 163.60000000000002 m 562.5 163.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 254.85 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 254.85 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.00 254.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.00 254.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 241.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.75 241.85 Td (For the three months ended March 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 228.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 228.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 228.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 215.17 Td (Cash used in operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 214.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 214.32 Td (\(27,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 214.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 214.32 Td (\(41,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 214.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 200.17 Td (Cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 199.32 Td (\(3,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 199.32 Td (\(1,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 199.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 185.17 Td (Cash provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 184.27 Td (25,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 184.27 Td (41,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 170.17 Td (Net decrease in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 169.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 169.32 Td (\(5,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 169.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 169.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 169.32 Td (\(2,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 169.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (Management believes that funds from operations, combined with the Company's capital base and available credit facilities, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (suf) Tj ET Q q 0 0 0 rg BT 62.04 129.10 Td (ficient for the Company's liquidity needs in the foreseeable future. Changes in capital requirements under international ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (standards that will impact the costs and relative returns on loans may cause banks including those with whom the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (relies to back away from providing funding to the securities industry) Tj ET Q q 0 0 0 rg BT 323.73 105.10 Td (. Such a development might impact the Company's ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (to finance its day to day activities or increase the costs to acquire funding. ) Tj ET Q q 0 0 0 rg BT 348.33 93.10 Td (The Company may or may not be able to pass such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (increased funding costs on to its clients. See "Factors ) Tj ET Q q 0 0 0 rg BT 264.60 81.10 Td (Af) Tj ET Q q 0 0 0 rg BT 274.97 81.10 Td (fecting 'Forward-Looking Statements'" herein.) Tj ET Q endstream endobj 129 0 obj <>] /Rotate 0 /Contents 130 0 R>> endobj 130 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 742.25 Td ( Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.17 724.25 Td (April 27, 2018, the Board of Directors declared a regular quarterly cash dividend of $0.1) Tj ET Q q 0 0 0 rg BT 418.40 724.25 Td (1 per share of Class ) Tj ET Q q 0 0 0 rg BT 499.22 724.25 Td (A) Tj ET Q q 0 0 0 rg BT 505.89 724.25 Td ( and Class B ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (Stock payable on May 25, 2018 to stockholders of record on May 1) Tj ET Q q 0 0 0 rg BT 319.85 712.25 Td (1, 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (The book value of the Company's Class) Tj ET Q q 0 0 0 rg BT 210.95 688.25 Td (A) Tj ET Q q 0 0 0 rg BT 217.62 688.25 Td ( and Class B Stock was $40.04 at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.44 688.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.04 688.25 Td ( compared to $39.55 at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (December31, 2017, based on total outstanding shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.11 676.25 Td (13,240,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.11 676.25 Td ( and 13,238,868, respectively) Tj ET Q q 0 0 0 rg BT 441.21 676.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (The diluted weighted average number of shares of Class) Tj ET Q q 0 0 0 rg BT 276.88 652.25 Td (A) Tj ET Q q 0 0 0 rg BT 283.54 652.25 Td ( and Class B Stock outstanding for the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.45 652.25 Td (March31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 640.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.55 640.25 Td (13,977,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.55 640.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.25 640.25 Td (13,399,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.25 640.25 Td ( outstanding for the same period in 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Off-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 129.43 616.25 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (proceedings by the Regulators concerning Oppenheimer's marketing and sale of ) Tj ET Q q 0 0 0 rg BT 371.70 586.25 Td (ARS. Pursuant to the settlements with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (Regulators, Oppenheimer agreed to extend of) Tj ET Q q 0 0 0 rg BT 231.98 574.25 Td (fers to repurchase ) Tj ET Q q 0 0 0 rg BT 305.00 574.25 Td (ARS from certain of its clients subject to certain terms and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (conditions more fully described below) Tj ET Q q 0 0 0 rg BT 203.20 562.25 Td (. ) Tj ET Q q 0 0 0 rg BT 207.65 562.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.09 562.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.69 562.25 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.74 562.25 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.63 562.25 Td ( in outstanding ) Tj ET Q q 0 0 0 rg BT 484.02 562.25 Td (ARS purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (commitments related to the settlements with the Regulators. In addition to the settlements with the Regulators, Oppenheimer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (obligated to purchase ) Tj ET Q q 0 0 0 rg BT 137.48 526.25 Td (ARS. Pursuant to completed Purchase Of) Tj ET Q q 0 0 0 rg BT 302.83 526.25 Td (fers \(as defined\) under the settlements with the Regulators and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (client related legal settlements and awards to purchase ) Tj ET Q q 0 0 0 rg BT 269.36 514.25 Td (ARS, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.47 514.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.07 514.25 Td (, the Company purchased and holds \(net of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (redemptions\) approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.52 502.25 Td ($88.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.41 502.25 Td ( in ) Tj ET Q q 0 0 0 rg BT 231.64 502.25 Td (ARS from its clients. In addition, the Company is committed to purchase another ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td ($1) Tj ET Q q 0 0 0 rg BT 59.63 490.25 Td (1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.52 490.25 Td ( in ) Tj ET Q q 0 0 0 rg BT 115.75 490.25 Td (ARS from clients through 2020 under legal settlements and awards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (The Company's purchases of ) Tj ET Q q 0 0 0 rg BT 167.33 466.25 Td (ARS from its clients holding ) Tj ET Q q 0 0 0 rg BT 284.28 466.25 Td (ARS eligible for repurchase will, subject to the terms and conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (of the settlements with the Regulators, continue on a periodic basis. Pursuant to these terms and conditions, the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (required to conduct a financial review every six months, until the Company has extended Purchase Of) Tj ET Q q 0 0 0 rg BT 458.03 442.25 Td (fers to all Eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Investors \(as defined\), to determine whether it has funds available, after giving ef) Tj ET Q q 0 0 0 rg BT 375.26 430.25 Td (fect to the financial and regulatory capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (constraints applicable to the Company) Tj ET Q q 0 0 0 rg BT 202.65 418.25 Td (, to extend additional Purchase Of) Tj ET Q q 0 0 0 rg BT 338.54 418.25 Td (fers. ) Tj ET Q q 0 0 0 rg BT 358.35 418.25 Td (The financial review is based on the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (operating results, regulatory net capital, liquidity) Tj ET Q q 0 0 0 rg BT 244.58 406.25 Td (, and other ) Tj ET Q q 0 0 0 rg BT 289.01 406.25 Td (ARS purchase commitments outstanding under legal settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (and awards \(described below\). ) Tj ET Q q 0 0 0 rg BT 174.49 394.25 Td (There are no predetermined quantitative thresholds or formulas used for determining the final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (agreed upon amount for the Purchase Of) Tj ET Q q 0 0 0 rg BT 211.99 382.25 Td (fers. Upon completion of the financial review) Tj ET Q q 0 0 0 rg BT 393.77 382.25 Td (, the Company first meets with its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (primary regulator) Tj ET Q q 0 0 0 rg BT 119.85 370.25 Td (, FINRA, and then with representatives of the NY) Tj ET Q q 0 0 0 rg BT 318.14 370.25 Td (AG and other regulators to present the results of the review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (and to finalize the amount of the next Purchase Of) Tj ET Q q 0 0 0 rg BT 251.14 358.25 Td (fer) Tj ET Q q 0 0 0 rg BT 261.69 358.25 Td (. ) Tj ET Q q 0 0 0 rg BT 266.51 358.25 Td (V) Tj ET Q q 0 0 0 rg BT 272.62 358.25 Td (arious of) Tj ET Q q 0 0 0 rg BT 307.71 358.25 Td (fer scenarios are discussed in terms of which Eligible Investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (should receive a Purchase Of) Tj ET Q q 0 0 0 rg BT 166.44 346.25 Td (fer) Tj ET Q q 0 0 0 rg BT 176.99 346.25 Td (. ) Tj ET Q q 0 0 0 rg BT 181.81 346.25 Td (The primary criteria to date in terms of determining which Eligible Investors should receive a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (Purchase Of) Tj ET Q q 0 0 0 rg BT 98.97 334.25 Td (fer has been the amount of household account equity each Eligible Investor had with the Company in February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (2008. Once various Purchase Of) Tj ET Q q 0 0 0 rg BT 179.51 322.25 Td (fer scenarios have been discussed, the regulators, not the Company) Tj ET Q q 0 0 0 rg BT 446.83 322.25 Td (, make the final ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (determination of which Purchase Of) Tj ET Q q 0 0 0 rg BT 194.78 310.25 Td (fer scenario to implement. ) Tj ET Q q 0 0 0 rg BT 302.06 310.25 Td (The terms of settlements provide that the amount of ) Tj ET Q q 0 0 0 rg BT 511.17 310.25 Td (ARS to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (purchased during any period shall not risk placing the Company in violation of regulatory requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (Outside of the settlements with the Regulators, the Company has also reached various legal settlements with clients and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (received unfavorable legal awards requiring it to purchase ) Tj ET Q q 0 0 0 rg BT 284.35 262.25 Td (ARS. ) Tj ET Q q 0 0 0 rg BT 308.62 262.25 Td (The terms and conditions including the ) Tj ET Q q 0 0 0 rg BT 466.92 262.25 Td (ARS amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (committed to be purchased under legal settlements are based on the specific facts and circumstances of each legal proceeding. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (In most instances, the purchase commitments are in increments and extend over a period of time. ) Tj ET Q q 0 0 0 rg BT 439.88 238.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.38 238.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.98 238.25 Td (, no ) Tj ET Q q 0 0 0 rg BT 532.93 238.25 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (purchase commitments related to legal settlements extended past 2020. ) Tj ET Q q 0 0 0 rg BT 336.40 226.25 Td (T) Tj ET Q q 0 0 0 rg BT 341.81 226.25 Td (o the extent the Company receives an unfavorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (award, the Company usually must purchase the ) Tj ET Q q 0 0 0 rg BT 241.07 214.25 Td (ARS provided for by the award within 30 days of the rendering of the award. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (The ultimate amount of ) Tj ET Q q 0 0 0 rg BT 146.09 202.25 Td (ARS to be repurchased by the Company under both the settlements with the Regulators and the legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (settlements and awards cannot be predicted with any certainty and will be impacted by redemptions by issuers, the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (financial and regulatory constraints, and legal and other actions by clients during the relevant period, which also cannot be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (predicted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.50 142.25 Td (ARS positions that the Company owns and is committed to purchase primarily represent auction rate preferred securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (issued by closed-end funds and, to a lesser extent, municipal auction rate securities which are municipal bonds wrapped by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (municipal bond insurance and student loan auction rate securities which are asset-backed securities backed by student loans. ) Tj ET Q q 0 0 0 rg BT 549.28 118.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.60 106.25 Td (, the amount of ) Tj ET Q q 0 0 0 rg BT 176.09 106.25 Td (ARS held by the Company that was below investment grade was $25,000 and the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (ARS that was unrated was $25,000.) Tj ET Q endstream endobj 131 0 obj <>] /Rotate 0 /Contents 132 0 R>> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (65) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 698.50 275.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 698.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 698.50 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 698.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 698.50 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 698.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 698.50 75.00 -14.00 re f /GS0 gs 0.8 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Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.00 740.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.00 740.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.80 728.45 Td (Auction Rate Securities Owned and Committed to Purchase at March 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 715.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.00 715.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.15 710.75 Td (V) Tj ET Q q 0 0 0 rg BT 435.04 710.75 Td (aluation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 702.75 Td (Adjustment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 490.00 715.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 702.75 Td (Product) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.05 702.75 Td (Principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 508.00 702.75 Td (Fair ) Tj ET Q q 0 0 0 rg BT 522.74 702.75 Td (V) Tj ET Q q 0 0 0 rg BT 527.63 702.75 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 689.07 Td (Auction Rate Securities Owned ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 181.86 693.14 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 689.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 689.07 Td (88,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 689.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 689.07 Td (1,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 689.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 689.07 Td (87,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 675.07 Td (ARS Commitments to Purchase Pursuant to: ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 233.56 679.14 Td (\(2\)\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 661.07 Td (Settlements with the Regulators ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 202.98 665.14 Td (\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.15 661.07 Td (5,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 661.07 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 661.07 Td (4,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 647.07 Td (Legal Settlements and ) Tj ET Q q 0 0 0 rg BT 163.81 647.07 Td (A) Tj ET Q q 0 0 0 rg BT 170.11 647.07 Td (wards ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 196.50 651.14 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 647.07 Td (1) Tj ET Q q 0 0 0 rg BT 378.15 647.07 Td (1,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 647.07 Td (108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 647.07 Td (10,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 633.07 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 633.07 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.00 633.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 633.07 Td (104,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 633.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 633.07 Td (1,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 633.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 633.07 Td (103,193) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.00 629.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 611.00 Td (Principal amount represents the par value of the ) Tj ET Q q 0 0 0 rg BT 279.27 611.00 Td (ARS and is included in securities owned on the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 599.00 Td (consolidated balance sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.84 599.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.44 599.00 Td (. ) Tj ET Q q 0 0 0 rg BT 273.26 599.00 Td (The valuation adjustment amount is included as a reduction to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 587.00 Td (securities owned on the condensed consolidated balance sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.19 587.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.78 587.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.00 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 575.00 Td (Principal amount represents the present value of the ) Tj ET Q q 0 0 0 rg BT 295.38 575.00 Td (ARS par value that the Company is committed to purchase at a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 563.00 Td (future date. ) Tj ET Q q 0 0 0 rg BT 133.85 563.00 Td (This principal amount is presented as an of) Tj ET Q q 0 0 0 rg BT 305.57 563.00 Td (f-balance sheet item. ) Tj ET Q q 0 0 0 rg BT 390.90 563.00 Td (The valuation adjustment is included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 551.00 Td (accounts payable and other liabilities on the condensed consolidated balance sheet at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.54 551.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.14 551.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.00 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 539.00 Td (Specific ) Tj ET Q q 0 0 0 rg BT 120.71 539.00 Td (ARS to be purchased under ) Tj ET Q q 0 0 0 rg BT 232.64 539.00 Td (ARS Purchase Commitments are unknown until the beneficial owner selects the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 527.00 Td (individual ) Tj ET Q q 0 0 0 rg BT 128.50 527.00 Td (ARS to be purchased.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.00 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 515.00 Td (Commitments to purchase under settlements with the Regulators at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.78 515.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.38 515.00 Td (. Eligible Investors for future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 503.00 Td (buybacks under the settlements with the Regulators held approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.54 503.00 Td ($21.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.43 503.00 Td ( of ) Tj ET Q q 0 0 0 rg BT 441.21 503.00 Td (ARS as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.82 503.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.42 503.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.00 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 491.00 Td (Commitments to purchase under various legal settlements and awards with clients through 2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.00 Td (Per the above table, the Company has recorded a valuation adjustment on its ) Tj ET Q q 0 0 0 rg BT 357.70 467.00 Td (ARS owned and ) Tj ET Q q 0 0 0 rg BT 425.20 467.00 Td (ARS purchase commitments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.00 Td ($1.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.89 455.00 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.05 455.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.65 455.00 Td (. ) Tj ET Q q 0 0 0 rg BT 191.47 455.00 Td (The valuation adjustment is comprised of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.77 455.00 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.66 455.00 Td ( which represents the dif) Tj ET Q q 0 0 0 rg BT 506.78 455.00 Td (ference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.00 Td (between the principal value and the fair value of the ) Tj ET Q q 0 0 0 rg BT 259.91 443.00 Td (ARS the Company owned as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.79 443.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.39 443.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.83 443.00 Td ($183,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.33 443.00 Td ( which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.00 Td (represents the dif) Tj ET Q q 0 0 0 rg BT 118.68 431.00 Td (ference between the principal value and the fair value of the ) Tj ET Q q 0 0 0 rg BT 360.51 431.00 Td (ARS the Company is committed to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.00 Td (under the settlements with the Regulators and legal settlements and awards. ) Tj ET Q q 0 0 0 rg BT 354.37 419.00 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.81 419.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.41 419.00 Td (, the Company had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.45 419.00 Td ($5.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.00 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 407.00 Td ( in outstanding ) Tj ET Q q 0 0 0 rg BT 140.28 407.00 Td (ARS purchase commitments related to the settlements with the Regulators. Eligible Investors for future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.00 Td (buybacks under the settlements with the Regulators held approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.54 395.00 Td ($21.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.43 395.00 Td ( of ) Tj ET Q q 0 0 0 rg BT 405.21 395.00 Td (ARS as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.82 395.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.42 395.00 Td (. Since the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.00 Td (Company was not committed to purchase this amount as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.40 383.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 383.00 Td (, there were no valuation adjustments booked to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.00 Td (recognize the dif) Tj ET Q q 0 0 0 rg BT 117.01 371.00 Td (ference between the principal value and the fair value for this remaining amount.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.00 Td (Additional information concerning the Company's of) Tj ET Q q 0 0 0 rg BT 261.86 347.00 Td (f-balance sheet arrangements is included in note 6 to the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.00 Td (consolidated financial statements in Item1. Such information is hereby incorporated by reference. ) Tj ET Q q 0 0 0 rg BT 444.59 335.00 Td (Also, see "Risk Factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.00 Td (The Company may continue to be adversely af) Tj ET Q q 0 0 0 rg BT 236.70 323.00 Td (fected by the failure of the ) Tj ET Q q 0 0 0 rg BT 344.43 323.00 Td (Auction Rate Securities Market" in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 547.08 323.00 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.00 Td (the Company's ) Tj ET Q q 0 0 0 rg BT 111.25 311.00 Td (Annual Report on Form 10-K for the year ended December 31, 2017 as well as "Regulatory and Legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.00 Td (Environment Other Regulatory Matters" herein for additional details.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 275.00 Td (Contractual Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 257.00 Td (The following table sets forth the Company's contractual obligations as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.13 257.00 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.72 257.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 203.50 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 203.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 203.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 203.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 203.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 203.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 203.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 203.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 203.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 203.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 175.50 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 175.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 175.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 175.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 175.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 175.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 175.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 175.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 175.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 175.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 147.50 221.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.50 147.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 147.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.50 147.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 147.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 147.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.50 147.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 147.50 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 147.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 147.50 55.00 -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 271.5 203.5 m 326.5 203.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 203.5 m 385.5 203.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 203.5 m 444.5 203.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 203.5 m 503.5 203.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 203.5 m 562.5 203.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 147.5 m 326.5 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 147.5 m 385.5 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 147.5 m 444.5 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 147.5 m 503.5 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 147.5 m 562.5 147.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 134.5 m 326.5 134.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271.5 132.5 m 326.5 132.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 134.5 m 385.5 134.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 132.5 m 385.5 132.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 134.5 m 444.5 134.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 132.5 m 444.5 132.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 134.5 m 503.5 134.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 132.5 m 503.5 132.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 134.5 m 562.5 134.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 132.5 m 562.5 132.5 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 53.00 231.75 Td (\(Expr) Tj ET Q q 0 0 0 rg BT 70.92 231.75 Td (essed in thousands\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.00 231.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.00 231.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 231.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 231.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.00 231.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 219.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.00 219.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 339.25 215.75 Td (Lessthan1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 350.10 207.75 Td (Y) Tj ET Q q 0 0 0 rg BT 355.08 207.75 Td (ear) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.00 219.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.00 219.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.90 215.75 Td (Morethan5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.55 207.75 Td (Y) Tj ET Q q 0 0 0 rg BT 530.53 207.75 Td (ears) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 207.45 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 290.30 207.45 Td (T) Tj ET Q q 0 0 0 rg BT 294.91 207.45 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.35 207.45 Td (1-3) Tj ET Q q 0 0 0 rg BT 413.87 207.45 Td (Y) Tj ET Q q 0 0 0 rg BT 419.09 207.45 Td (ears) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.35 207.45 Td (3-5) Tj ET Q q 0 0 0 rg BT 472.72 207.45 Td (Y) Tj ET Q q 0 0 0 rg BT 477.69 207.45 Td (ears) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 194.07 Td (Operating Lease Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 194.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.15 194.07 Td (242,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 194.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 194.07 Td (44,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 194.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 194.07 Td (67,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 194.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 194.07 Td (49,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 194.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 194.07 Td (82,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 180.07 Td (Committed Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.15 180.07 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 180.07 Td (1,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 180.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 180.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 180.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 166.07 Td (Senior Secured Notes ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 142.15 170.14 Td (\(1\)\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.15 166.07 Td (260,788) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 166.07 Td (13,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 166.07 Td (27,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 166.07 Td (220,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 166.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 152.07 Td (ARS Purchase Commitments ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 172.72 156.14 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.15 152.07 Td (1) Tj ET Q q 0 0 0 rg BT 300.15 152.07 Td (1,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 152.07 Td (4,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 152.07 Td (6,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 152.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 152.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 138.07 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 138.07 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.00 138.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.15 138.07 Td (515,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 138.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 138.07 Td (63,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 138.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 138.07 Td (100,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 138.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 138.07 Td (269,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 138.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 138.07 Td (82,264) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 564.00 134.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 116.00 Td (See note 9 to the condensed consolidated financial statements in Item 1 for additional information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.00 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 104.00 Td (Includes interest payable of $60.8 million through maturity) Tj ET Q q 0 0 0 rg BT 321.97 104.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.00 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 92.00 Td (See note 12 to the condensed consolidated financial statements in Item 1 for additional information.) Tj ET Q endstream endobj 133 0 obj <>] /Rotate 0 /Contents 134 0 R>> endobj 134 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Inflation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Because the assets of the Company's brokerage subsidiaries are highly liquid, and because securities inventories are carried at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (current market values, the impact of inflation generally is reflected in the financial statements. However) Tj ET Q q 0 0 0 rg BT 465.55 712.25 Td (, the rate of inflation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 700.25 Td (fects the Company's costs relating to employee compensation, rent, communications and certain other operating costs, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (such costs may not be recoverable in the level of commissions or fees char) Tj ET Q q 0 0 0 rg BT 348.33 688.25 Td (ged. ) Tj ET Q q 0 0 0 rg BT 367.59 688.25 Td (T) Tj ET Q q 0 0 0 rg BT 373.00 688.25 Td (o the extent inflation results in rising interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (rates and has other adverse ef) Tj ET Q q 0 0 0 rg BT 167.82 676.25 Td (fects upon the securities markets, it may adversely af) Tj ET Q q 0 0 0 rg BT 379.51 676.25 Td (fect the Company's financial position and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (results of operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Factors ) Tj ET Q q 0 0 0 rg BT 84.16 640.25 Td (Affecting "Forward-Looking Statements") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (From time to time, the Company may publish "Forward-looking statements" within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 498.11 622.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 91.38 610.25 Td (Act and Section21E of the Exchange ) Tj ET Q q 0 0 0 rg BT 243.28 610.25 Td (Act or make oral statements that constitute forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 531.91 610.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (forward-looking statements may relate to such matters as anticipated financial performance, future revenues, earnings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (liabilities or expenses business prospects, projected ventures, new products, anticipated market performance, and similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (matters. ) Tj ET Q q 0 0 0 rg BT 84.25 574.25 Td (The Private Securities Litigation Reform ) Tj ET Q q 0 0 0 rg BT 249.49 574.25 Td (Act of 1995 provides a safe harbor for forward-looking statements. In order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (to remain within the terms of the safe harbor) Tj ET Q q 0 0 0 rg BT 227.88 562.25 Td (, the Company cautions readers that a variety of factors could cause the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (actual results to dif) Tj ET Q q 0 0 0 rg BT 126.19 550.25 Td (fer materially from the anticipated results or other expectations expressed in the Company's forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 97.03 538.25 Td (These risks and uncertainties, many of which are beyond the Company's control, include, but are not limited to: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (\(i\)transaction volume in the securities markets, \(ii\)the volatility of the securities markets, \(iii\)fluctuations in interest rates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (\(iv\)changes in regulatory requirements that could af) Tj ET Q q 0 0 0 rg BT 260.02 514.25 Td (fect the cost and method of doing business and reduce returns, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (\(v\)fluctuations in currency rates, \(vi\)general economic conditions, both domestic and international, \(vii\)changes in the rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (inflation and the related impact on the securities markets, \(viii\)competition from existing financial institutions, new entrants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (and other participants in the securities markets and financial services industry) Tj ET Q q 0 0 0 rg BT 359.80 478.25 Td (, \(ix\)legal developments af) Tj ET Q q 0 0 0 rg BT 469.31 478.25 Td (fecting the litigation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (experience of the securities industry and the Company) Tj ET Q q 0 0 0 rg BT 266.78 466.25 Td (, including developments arising from the failure of the ) Tj ET Q q 0 0 0 rg BT 490.06 466.25 Td (Auction Rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Securities markets, the trading of low-priced securities, stepped up enforcement ef) Tj ET Q q 0 0 0 rg BT 379.15 454.25 Td (forts by the SEC, FinCEN, FINRA) Tj ET Q q 0 0 0 rg BT 518.33 454.25 Td ( and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (regulators and the results of pending litigation and regulatory proceedings involving the Company) Tj ET Q q 0 0 0 rg BT 442.04 442.25 Td (, \(x\)changes in foreign, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (federal and state tax laws that could af) Tj ET Q q 0 0 0 rg BT 203.36 430.25 Td (fect the popularity of products sold by the Company or impose taxes on securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (transactions, \(xi\)enforcement of the DOL) Tj ET Q q 0 0 0 rg BT 217.90 418.25 Td ( fiduciary rules and regulations and the adoption and implementation of the SEC's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (proposed "Regulation Best Interest" and other regulations in recent years, \(xii\) the ef) Tj ET Q q 0 0 0 rg BT 388.71 406.25 Td (fectiveness of the Company's ef) Tj ET Q q 0 0 0 rg BT 515.85 406.25 Td (forts to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (reduce costs and manage compensation expense, \(xiii\)war) Tj ET Q q 0 0 0 rg BT 284.51 394.25 Td (, international police actions, terrorist acts and nuclear confrontation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (as well as political unrest and regime changes, health epidemics and economic crises in foreign countries, \(xiv\)the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (ability to achieve its business plan, \(xv\)corporate governance issues, \(xvi\)the consolidation of the banking and financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (services industry) Tj ET Q q 0 0 0 rg BT 116.84 358.25 Td (, \(xvii\)the ef) Tj ET Q q 0 0 0 rg BT 168.86 358.25 Td (fects of the economy on the Company's ability to find and maintain financing options and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (liquidity) Tj ET Q q 0 0 0 rg BT 83.24 346.25 Td (, \(xviii\)credit, operational, legal and regulatory risks, \(xix\)risks related to foreign operations, including those in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (United Kingdom which may be af) Tj ET Q q 0 0 0 rg BT 186.18 334.25 Td (fected by Britain's June 23, 2016 referendum to exit the EU \("Brexit"\), \(xx\)risks related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (the downgrade of U.S. long-term sovereign debt obligations and the sovereign debt of European nations, \(xxi\)potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (cybersecurity threats, \(xxii\)the ef) Tj ET Q q 0 0 0 rg BT 185.04 310.25 Td (fect of technological innovation on the financial services industry and business, \(xxiii\) risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (related to the changes by S&P) Tj ET Q q 0 0 0 rg BT 170.43 298.25 Td ( Global Ratings \("S&P"\) or Moody's Investor Service, Inc. \("Moody's"\) of its rating on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Company and on the Company's long-term debt, \(xxiv\)risks related to elections results, Congressional gridlock, government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (shutdowns and investigations, changes in or uncertainty surrounding regulations and threats of default by the federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (government, and \(xxv\) risks relate to trading wars. ) Tj ET Q q 0 0 0 rg BT 254.76 262.25 Td (There can be no assurance that the Company has correctly or completely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (identified and assessed all of the factors af) Tj ET Q q 0 0 0 rg BT 219.48 250.25 Td (fecting the Company's business. ) Tj ET Q q 0 0 0 rg BT 350.25 250.25 Td (The Company does not undertake any obligation to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (publicly update or revise any forward-looking statements. See "Risk Factors" in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 431.42 238.25 Td ( of the Company's ) Tj ET Q q 0 0 0 rg BT 505.99 238.25 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (Report on Form 10-K for the year ended December 31, 2017.) Tj ET Q endstream endobj 135 0 obj <>] /Rotate 0 /Contents 136 0 R>> endobj 136 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item3. QUANTIT) Tj ET Q q 0 0 0 rg BT 128.42 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 134.90 742.25 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 161.30 742.25 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 224.18 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 230.66 742.25 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 330.14 742.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 365.52 742.25 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 412.84 742.25 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.36 718.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.96 718.25 Td (, there were no material changes to the information contained in Part II, Item 7A) Tj ET Q q 0 0 0 rg BT 560.96 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (of the Company's ) Tj ET Q q 0 0 0 rg BT 122.08 706.25 Td (Annual Report on Form 10-K for the year ended December 31, 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Item4. CONTROLS ) Tj ET Q q 0 0 0 rg BT 140.56 682.25 Td (AND PROCEDURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (The Company carried out an evaluation, under the supervision and with the participation of management, including the Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.85 646.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 215.41 646.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 233.32 646.25 Td (, of the ef) Tj ET Q q 0 0 0 rg BT 271.46 646.25 Td (fectiveness of the design and operation of its disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (procedures pursuant to Rule13a15\(e\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 274.93 634.25 Td (Act. Based on this evaluation, the Company's Chief Executive Of) Tj ET Q q 0 0 0 rg BT 536.77 634.25 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 141.74 622.25 Td (ficer concluded that the Company's disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 456.03 622.25 Td (fective as of the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (the period covered by this report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Management, including the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 239.76 586.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 352.31 586.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 370.23 586.25 Td (, does not expect that the Company's disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (controls and procedures or its internal controls will prevent all error and all fraud. ) Tj ET Q q 0 0 0 rg BT 378.51 574.25 Td (A) Tj ET Q q 0 0 0 rg BT 385.18 574.25 Td ( control system, no matter how well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 550.25 Td (, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (provide absolute assurance that all control issues and instances of fraud, if any) Tj ET Q q 0 0 0 rg BT 362.87 526.25 Td (, within the Company have been detected. ) Tj ET Q q 0 0 0 rg BT 532.91 526.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (inherent limitations include, but are not limited to, the realities that judgments in decisionmaking can be faulty and that break-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (downs can occur because of a simple error or omission. ) Tj ET Q q 0 0 0 rg BT 274.10 502.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 324.00 502.25 Td (, controls can be circumvented by the individual acts of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (some persons, by collusion of two or more people, or by management override of the control. ) Tj ET Q q 0 0 0 rg BT 426.11 490.25 Td (The design of any system of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (controls also is based, in part, upon certain assumptions about the likelihood of future events. ) Tj ET Q q 0 0 0 rg BT 425.30 478.25 Td (There can be no assurance that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Because of the inherent limitations in a costef) Tj ET Q q 0 0 0 rg BT 237.82 442.25 Td (fective control system, misstatements due to error or fraud may occur and not be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (detected.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (The Company confirms that its management, including its Chief Executive Of) Tj ET Q q 0 0 0 rg BT 362.80 406.25 Td (ficer and its Chief Financial Of) Tj ET Q q 0 0 0 rg BT 487.30 406.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 505.22 406.25 Td (, concluded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (that the Company's disclosure controls and procedures are ef) Tj ET Q q 0 0 0 rg BT 292.66 394.25 Td (fective to ensure that the information required to be disclosed by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (the Company in its reports filed under the Exchange ) Tj ET Q q 0 0 0 rg BT 260.78 382.25 Td (Act is recorded, processed, summarized and reported within the time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (periods specified in the rules and forms of the SEC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 346.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 191.86 346.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (There have been no changes in the Company's internal controls over financial reporting \(as defined in Rule 13a-15\(f\) of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.37 316.25 Td (Act\) during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.78 316.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.38 316.25 Td ( that have materially af) Tj ET Q q 0 0 0 rg BT 391.37 316.25 Td (fected, or are reasonably likely to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 100.63 304.25 Td (fect, the Company's internal controls over financial reporting.) Tj ET Q endstream endobj 137 0 obj <>] /Rotate 0 /Contents 138 0 R>> endobj 138 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 55.37 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 69.46 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 75.95 742.25 Td ( II. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 177.99 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item1. LEGAL) Tj ET Q q 0 0 0 rg BT 116.95 718.25 Td ( PROCEEDINGS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Many aspects of the Company's business involve substantial risks of liability) Tj ET Q q 0 0 0 rg BT 356.67 694.25 Td (. In the normal course of business, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (has been the subject of customer complaints and has been named as a defendant or co-defendant in various lawsuits or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (arbitrations creating substantial exposure. ) Tj ET Q q 0 0 0 rg BT 218.94 670.25 Td (The Company is also involved from time to time in certain governmental and self-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (regulatory agency investigations and proceedings. ) Tj ET Q q 0 0 0 rg BT 252.53 658.25 Td (These proceedings arise primarily from securities brokerage, asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (management and investment banking activities. ) Tj ET Q q 0 0 0 rg BT 242.54 646.25 Td (There has been an increased incidence of regulatory investigations in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (financial services industry in recent years, including investigations by multiple regulators of matters involving the same or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (similar underlying facts and seeking substantial penalties, fines or other monetary relief.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (While the ultimate resolution of routine pending litigation, regulatory and other matters cannot be currently determined, in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (opinion of management, after consultation with legal counsel, the Company does not believe that the resolution of these matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (will have a material adverse ef) Tj ET Q q 0 0 0 rg BT 172.26 574.25 Td (fect on its condensed consolidated balance sheet and statement of cash flow) Tj ET Q q 0 0 0 rg BT 474.56 574.25 Td (. However) Tj ET Q q 0 0 0 rg BT 515.81 574.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Company's results of operations could be materially af) Tj ET Q q 0 0 0 rg BT 267.95 562.25 Td (fected during any period if liabilities in that period dif) Tj ET Q q 0 0 0 rg BT 483.54 562.25 Td (fer from prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Notwithstanding the foregoing, an adverse result in any of the matters set forth below or multiple adverse results in arbitrations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (litigations or regulatory proceedings currently filed or to be filed against the Company) Tj ET Q q 0 0 0 rg BT 394.81 514.25 Td (, could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 528.73 514.25 Td (fect on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (the Company's results of operations and financial condition, including its cash position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (The materiality of legal and regulatory matters to the Company's future operating results depends on the level of future results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (of operations as well as the timing and ultimate outcome of such legal and regulatory matters. See "Risk Factors ) Tj ET Q q 0 0 0 rg BT 513.51 466.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (Company may continue to be adversely af) Tj ET Q q 0 0 0 rg BT 218.66 454.25 Td (fected by the failure of the ) Tj ET Q q 0 0 0 rg BT 326.39 454.25 Td (Auction Rate Securities Market" in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 529.03 454.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 96.53 442.25 Td (Annual Report on Form 10-K for the year ended December 31, 2017 as well as "Management's Discussion and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (Analysis of Financial Condition and Results of Operations Regulatory and Legal Environment Other Regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Matters" and "Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 231.32 418.25 Td (Analysis of Financial Condition and Results of Operations Factors ) Tj ET Q q 0 0 0 rg BT 511.85 418.25 Td (Af) Tj ET Q q 0 0 0 rg BT 522.22 418.25 Td (fecting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td ('Forward-Looking Statements'" in Part I, Item 2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (In accordance with applicable accounting guidance, the Company establishes reserves for litigation and regulatory matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (when those matters present loss contingencies that are both probable and reasonably estimable. ) Tj ET Q q 0 0 0 rg BT 432.48 370.25 Td (When loss contingencies are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (both probable and reasonably estimable, the Company does not establish reserves. In some of the matters described below) Tj ET Q q 0 0 0 rg BT 537.83 358.25 Td (, loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (contingencies are not probable and reasonably estimable in the view of management and, accordingly) Tj ET Q q 0 0 0 rg BT 455.87 346.25 Td (, the Company has not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (established reserves for those matters. For legal or regulatory proceedings where there is at least a reasonable possibility that a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (loss or an additional loss may be incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of $0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (to approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.54 310.25 Td ($38.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.43 310.25 Td (. ) Tj ET Q q 0 0 0 rg BT 179.25 310.25 Td (This estimated aggregate range is based upon currently available information for those legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (proceedings in which the Company is involved, where an estimate for such losses can be made. For certain cases, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (does not believe that it can make an estimate. ) Tj ET Q q 0 0 0 rg BT 233.64 286.25 Td (The foregoing estimate is based on various factors, including the varying stages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (of the proceedings \(including the fact that many are currently in preliminary stages\), the numerous yet-unresolved issues in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (many of the proceedings and the attendant uncertainty of the various potential outcomes of such proceedings. ) Tj ET Q q 0 0 0 rg BT 489.59 262.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 538.93 262.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Company's estimate will change from time to time, and actual losses may be more than the current estimate.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (Auction Rate Securities Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (For a number of years, the Company of) Tj ET Q q 0 0 0 rg BT 207.56 208.25 Td (fered auction rate securities \("ARS"\) to its clients. ) Tj ET Q q 0 0 0 rg BT 409.83 208.25 Td (A) Tj ET Q q 0 0 0 rg BT 416.50 208.25 Td ( significant portion of the market in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (ARS 'failed' in February 2008 due to credit market conditions, and dealers were no longer willing or able to purchase the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (imbalance between supply and demand for ) Tj ET Q q 0 0 0 rg BT 223.28 184.25 Td (ARS. See "Risk Factors ) Tj ET Q q 0 0 0 rg BT 333.85 184.25 Td (The Company may continue to be adversely af) Tj ET Q q 0 0 0 rg BT 520.55 184.25 Td (fected by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (the failure of the ) Tj ET Q q 0 0 0 rg BT 118.31 172.25 Td (Auction Rate Securities Market" in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 320.95 172.25 Td ( of the Company's ) Tj ET Q q 0 0 0 rg BT 395.53 172.25 Td (Annual Report on Form 10-K for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (year ended December 31, 2017 as well as "Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 345.80 160.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (Operations Regulatory and Legal Environment Other Regulatory Matters" in Part I, Item 2.) Tj ET Q endstream endobj 139 0 obj <>] /Rotate 0 /Contents 140 0 R>> endobj 140 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (As previously disclosed, Oppenheimer) Tj ET Q q 0 0 0 rg BT 204.57 742.10 Td (, without admitting or denying liability) Tj ET Q q 0 0 0 rg BT 359.46 742.10 Td (, entered into a Consent Order \(the "Order"\) with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (the Massachusetts Securities Division \(the "MSD"\) on February26, 2010 and an ) Tj ET Q q 0 0 0 rg BT 374.51 730.10 Td (Assurance of Discontinuance \("AOD"\) with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (the New ) Tj ET Q q 0 0 0 rg BT 85.73 718.10 Td (Y) Tj ET Q q 0 0 0 rg BT 91.95 718.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 107.23 718.10 Td (Attorney General \("NY) Tj ET Q q 0 0 0 rg BT 200.17 718.10 Td (AG" and together with the MSD, the "Regulators"\) on February 23, 2010, each in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (connection with Oppenheimer's sales of ) Tj ET Q q 0 0 0 rg BT 211.48 706.10 Td (ARS to retail and other investors in the Commonwealth of Massachusetts and the State ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (of New ) Tj ET Q q 0 0 0 rg BT 81.84 694.10 Td (Y) Tj ET Q q 0 0 0 rg BT 88.06 694.10 Td (ork.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Pursuant to the terms of the Order and ) Tj ET Q q 0 0 0 rg BT 204.97 670.10 Td (AOD, the Company commenced and closed seventeen of) Tj ET Q q 0 0 0 rg BT 433.60 670.10 Td (fers to purchase ) Tj ET Q q 0 0 0 rg BT 498.86 670.10 Td (ARS from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (customer accounts when the Company's latest of) Tj ET Q q 0 0 0 rg BT 244.35 658.10 Td (fer to purchase expired on February 12, 2018. ) Tj ET Q q 0 0 0 rg BT 429.67 658.10 Td (The Company's purchases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (ARS from clients have continued and will, subject to the terms and conditions of the ) Tj ET Q q 0 0 0 rg BT 389.94 646.10 Td (AOD, continue on a periodic basis. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Accounts were, and will continue to be, aggregated on a "household" basis for purposes of these of) Tj ET Q q 0 0 0 rg BT 445.65 634.10 Td (fers. ) Tj ET Q q 0 0 0 rg BT 465.09 634.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.54 634.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.13 634.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (the Company had purchased and holds \(net of redemptions\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.33 622.10 Td ($88.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.22 622.10 Td ( of ) Tj ET Q q 0 0 0 rg BT 358.00 622.10 Td (ARS pursuant to settlements with the Regulators ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (and legal settlements and awards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Oppenheimer has agreed with the NY) Tj ET Q q 0 0 0 rg BT 200.23 586.10 Td (AG that it will of) Tj ET Q q 0 0 0 rg BT 268.93 586.10 Td (fer to purchase Eligible ) Tj ET Q q 0 0 0 rg BT 364.45 586.10 Td (ARS from Eligible Investors who did not receive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (an initial purchase of) Tj ET Q q 0 0 0 rg BT 133.96 574.10 Td (fer) Tj ET Q q 0 0 0 rg BT 144.65 574.10 Td (, periodically) Tj ET Q q 0 0 0 rg BT 196.76 574.10 Td (, as excess funds become available to Oppenheimer after giving ef) Tj ET Q q 0 0 0 rg BT 461.76 574.10 Td (fect to the financial and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (regulatory capital constraints applicable to Oppenheimer) Tj ET Q q 0 0 0 rg BT 276.46 562.10 Td (, until Oppenheimer has extended a purchase of) Tj ET Q q 0 0 0 rg BT 466.77 562.10 Td (fer to all Eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (Investors. Such of) Tj ET Q q 0 0 0 rg BT 122.31 550.10 Td (fers will remain open for a period of 75 days from the date on which each such of) Tj ET Q q 0 0 0 rg BT 448.41 550.10 Td (fer to purchase is sent. ) Tj ET Q q 0 0 0 rg BT 540.42 550.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (ultimate amount of ) Tj ET Q q 0 0 0 rg BT 128.04 538.10 Td (ARS to be repurchased by the Company cannot be predicted with any certainty and will be impacted by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (redemptions by issuers and client actions during the period, which also cannot be predicted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (In addition, pursuant to the Order) Tj ET Q q 0 0 0 rg BT 183.46 502.10 Td (, Oppenheimer agreed to of) Tj ET Q q 0 0 0 rg BT 292.95 502.10 Td (fer mar) Tj ET Q q 0 0 0 rg BT 321.92 502.10 Td (gin loan against eligible collateral for other Massachusetts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (clients not covered by the of) Tj ET Q q 0 0 0 rg BT 163.39 490.10 Td (fers to purchase. ) Tj ET Q q 0 0 0 rg BT 231.15 490.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.59 490.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.19 490.10 Td (, Oppenheimer had extended mar) Tj ET Q q 0 0 0 rg BT 452.01 490.10 Td (gin loans to five holders of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Eligible ) Tj ET Q q 0 0 0 rg BT 83.61 478.10 Td (ARS from Massachusetts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Further) Tj ET Q q 0 0 0 rg BT 79.04 454.10 Td (, Oppenheimer has agreed to \(1\)no later than 75 days after Oppenheimer has completed extending a purchase of) Tj ET Q q 0 0 0 rg BT 528.96 454.10 Td (fer to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (all Eligible Investors \(as defined in the ) Tj ET Q q 0 0 0 rg BT 206.90 442.10 Td (AOD\), use its best ef) Tj ET Q q 0 0 0 rg BT 290.87 442.10 Td (forts to identify any Eligible Investor who purchased Eligible ) Tj ET Q q 0 0 0 rg BT 538.32 442.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (\(as defined in the ) Tj ET Q q 0 0 0 rg BT 121.09 430.10 Td (AOD\) and subsequently sold those securities below par between February13, 2008 and February23, 2010 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (and pay the investor the dif) Tj ET Q q 0 0 0 rg BT 158.96 418.10 Td (ference between par and the price at which the Eligible Investor sold the Eligible ) Tj ET Q q 0 0 0 rg BT 484.39 418.10 Td (ARS, plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (reasonable interest thereon; \(2\)no later than 75 days after Oppenheimer has completed extending a Purchase Of) Tj ET Q q 0 0 0 rg BT 497.98 406.10 Td (fer to all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (Eligible Investors, use its best ef) Tj ET Q q 0 0 0 rg BT 179.79 394.10 Td (forts to identify Eligible Investors who took out loans from Oppenheimer after February13, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (2008 that were secured by Eligible ) Tj ET Q q 0 0 0 rg BT 191.07 382.10 Td (ARS that were not successfully auctioning at the time the loan was taken out from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Oppenheimer and who paid interest associated with the ) Tj ET Q q 0 0 0 rg BT 273.27 370.10 Td (ARS-based portion of those loans in excess of the total interest and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (dividends received on the Eligible ) Tj ET Q q 0 0 0 rg BT 188.57 358.10 Td (ARS during the duration of the loan \(the "Loan Cost Excess"\) and reimburse such investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (for the Loan Cost Excess, plus reasonable interest thereon; \(3\)upon providing liquidity to all Eligible Investors, participate in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (special arbitration process for the exclusive purpose of arbitrating any Eligible Investor's claim for consequential damages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (against Oppenheimer related to the investor's inability to sell Eligible ) Tj ET Q q 0 0 0 rg BT 328.96 322.10 Td (ARS; and \(4\)work with issuers and other interested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (parties, including regulatory and governmental entities, to expeditiously provide liquidity solutions for institutional investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (not within the definition of Small Businesses and Institutions \(as defined in the ) Tj ET Q q 0 0 0 rg BT 368.02 298.10 Td (AOD\) that held ) Tj ET Q q 0 0 0 rg BT 432.18 298.10 Td (ARS in Oppenheimer brokerage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (accounts on February13, 2008. Oppenheimer believes that because Items \(1\)through \(3\)above will occur only after it has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (provided liquidity to all Eligible Investors, it will take an extended period of time before the requirements of Items \(1\)through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (\(3\)will take ef) Tj ET Q q 0 0 0 rg BT 108.96 262.10 Td (fect.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (If Oppenheimer fails to comply with any of the terms set forth in the Order) Tj ET Q q 0 0 0 rg BT 349.52 238.10 Td (, the MSD may institute an action to have the Order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (declared null and void and reinstitute the previously pending administrative proceedings. If Oppenheimer defaults on any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (obligation under the ) Tj ET Q q 0 0 0 rg BT 132.49 214.10 Td (AOD, the NY) Tj ET Q q 0 0 0 rg BT 187.20 214.10 Td (AG may terminate the ) Tj ET Q q 0 0 0 rg BT 278.29 214.10 Td (AOD, at his sole discretion, upon 10 days written notice to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Oppenheimer) Tj ET Q q 0 0 0 rg BT 103.87 202.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Reference is made to the Order and the ) Tj ET Q q 0 0 0 rg BT 208.27 178.10 Td (AOD, each as described in Item3 of the Company's ) Tj ET Q q 0 0 0 rg BT 418.07 178.10 Td (Annual Report on Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (the year ended December31, 2009 and attached thereto as Exhibits 10.24 and 10.22 respectively) Tj ET Q q 0 0 0 rg BT 436.16 166.10 Td (, as well as the subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (disclosures related thereto in the Company's Quarterly Reports on Form 10-Q for the quarters ended March31, 2010 through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (September 30, 2017 and in the Company's ) Tj ET Q q 0 0 0 rg BT 221.23 142.10 Td (Annual Reports on Form 10-K for the years ended December31, 2010 through and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (including 2017, for additional details of the agreements with the MSD and NY) Tj ET Q q 0 0 0 rg BT 363.55 130.10 Td (AG. ) Tj ET Q q 0 0 0 rg BT 382.81 130.10 Td (The Company is continuing to cooperate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (with investigating entities from states other than Massachusetts and New ) Tj ET Q q 0 0 0 rg BT 343.46 118.10 Td (Y) Tj ET Q q 0 0 0 rg BT 349.68 118.10 Td (ork.) Tj ET Q endstream endobj 141 0 obj <>] /Rotate 0 /Contents 142 0 R>> endobj 142 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 742.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.04 742.10 Td (, there were no pending ) Tj ET Q q 0 0 0 rg BT 234.12 742.10 Td (ARS-related cases against Oppenheimer) Tj ET Q q 0 0 0 rg BT 394.90 742.10 Td (. ) Tj ET Q q 0 0 0 rg BT 399.35 742.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.79 742.10 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.39 742.10 Td (, eleven ) Tj ET Q q 0 0 0 rg BT 520.43 742.10 Td (ARS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (matters were concluded in either court or arbitration with Oppenheimer prevailing in four of those matters and the claimants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (prevailing in seven of those matters. ) Tj ET Q q 0 0 0 rg BT 197.28 718.10 Td (The Company has purchased approximately $7.6 million in ) Tj ET Q q 0 0 0 rg BT 436.96 718.10 Td (ARS from the prevailing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (claimants in those seven actions. In addition, the Company has made cash payments of approximately $12.7 million as a result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (of legal settlements with clients. It is possible, however) Tj ET Q q 0 0 0 rg BT 271.22 694.10 Td (, that other individuals or entities that purchased ) Tj ET Q q 0 0 0 rg BT 465.90 694.10 Td (ARS from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Oppenheimer may bring additional claims against Oppenheimer in the future for repurchase or rescission.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (See "Risk Factors ) Tj ET Q q 0 0 0 rg BT 136.12 658.10 Td (The Company may continue to be adversely af) Tj ET Q q 0 0 0 rg BT 322.82 658.10 Td (fected by the failure of the ) Tj ET Q q 0 0 0 rg BT 430.55 658.10 Td (Auction Rate Securities Market" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 119.71 646.10 Td ( of the Company's ) Tj ET Q q 0 0 0 rg BT 194.29 646.10 Td (Annual Report on Form 10-K for the year ended December 31, 2017 and "Management's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Discussion and ) Tj ET Q q 0 0 0 rg BT 112.78 634.10 Td (Analysis of Financial Condition and Results of Operations Regulatory and Legal Environment Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Regulatory Matters" and "Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 278.26 622.10 Td (Analysis of Financial Condition and Results of Operations Of) Tj ET Q q 0 0 0 rg BT 537.77 622.10 Td (f-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Balance Sheet ) Tj ET Q q 0 0 0 rg BT 108.87 610.10 Td (Arrangements" in Part I, Item 2.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Other Pending Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (On or about March13, 2008, Oppenheimer was served in a matter pending in the United States Bankruptcy Court, Northern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (District of Geor) Tj ET Q q 0 0 0 rg BT 113.13 556.10 Td (gia, captioned ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 171.72 556.10 Td (W) Tj ET Q q 0 0 0 rg BT 179.50 556.10 Td (illiam Perkins, T) Tj ET Q q 0 0 0 rg BT 245.89 556.10 Td (rustee for International Management ) Tj ET Q q 0 0 0 rg BT 396.80 556.10 Td (Associates v) Tj ET Q q 0 0 0 rg BT 445.21 556.10 Td (. Lehman Br) Tj ET Q q 0 0 0 rg BT 494.57 556.10 Td (others, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (Oppenheimer& Co. Inc., JB Oxfor) Tj ET Q q 0 0 0 rg BT 190.15 544.10 Td (d& Co., Bank of ) Tj ET Q q 0 0 0 rg BT 260.24 544.10 Td (America Securities LLC and TD ) Tj ET Q q 0 0 0 rg BT 391.45 544.10 Td (Ameritrade Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.77 544.10 Td ( ) Tj ET Q q 0 0 0 rg BT 457.08 544.10 Td (The ) Tj ET Q q 0 0 0 rg BT 474.95 544.10 Td (T) Tj ET Q q 0 0 0 rg BT 480.71 544.10 Td (rustee seeks to set ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (aside as fraudulent transfers in excess of $25.0 million in funds embezzled by the sole portfolio manager for International ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 104.15 520.10 Td (Associates, a hedge fund. ) Tj ET Q q 0 0 0 rg BT 208.38 520.10 Td (The portfolio manager purportedly used the broker) Tj ET Q q 0 0 0 rg BT 411.45 520.10 Td (-dealer defendants, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (Oppenheimer) Tj ET Q q 0 0 0 rg BT 104.02 508.10 Td (, as conduits for his embezzlement. Oppenheimer filed its answer to the complaint on June18, 2010. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (Oppenheimer filed a motion for summary judgment, which was ar) Tj ET Q q 0 0 0 rg BT 314.75 496.10 Td (gued on March31, 201) Tj ET Q q 0 0 0 rg BT 407.42 496.10 Td (1. Immediately thereafter) Tj ET Q q 0 0 0 rg BT 508.35 496.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (Bankruptcy Court dismissed all of the ) Tj ET Q q 0 0 0 rg BT 204.24 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 210.00 484.10 Td (rustee's claims against all defendants including Oppenheimer) Tj ET Q q 0 0 0 rg BT 453.96 484.10 Td (. In June 201) Tj ET Q q 0 0 0 rg BT 505.24 484.10 Td (1, the ) Tj ET Q q 0 0 0 rg BT 529.78 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 535.54 484.10 Td (rustee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (filed an appeal with the United States District Court for the Northern District of Geor) Tj ET Q q 0 0 0 rg BT 390.84 472.10 Td (gia \("U.S.N.D. GA"\). In addition, on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (June10, 201) Tj ET Q q 0 0 0 rg BT 100.46 460.10 Td (1, the ) Tj ET Q q 0 0 0 rg BT 125.00 460.10 Td (T) Tj ET Q q 0 0 0 rg BT 130.75 460.10 Td (rustee filed a petition for permission to appeal the dismissal to the United States Court of ) Tj ET Q q 0 0 0 rg BT 488.46 460.10 Td (Appeals for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (Eleventh Circuit \(the "Court of ) Tj ET Q q 0 0 0 rg BT 176.00 448.10 Td (Appeals"\). On July27, 201) Tj ET Q q 0 0 0 rg BT 284.70 448.10 Td (1, the Court of ) Tj ET Q q 0 0 0 rg BT 344.98 448.10 Td (Appeals denied the ) Tj ET Q q 0 0 0 rg BT 423.94 448.10 Td (T) Tj ET Q q 0 0 0 rg BT 429.69 448.10 Td (rustee's Petition. ) Tj ET Q q 0 0 0 rg BT 497.70 448.10 Td (The ) Tj ET Q q 0 0 0 rg BT 515.56 448.10 Td (T) Tj ET Q q 0 0 0 rg BT 521.32 448.10 Td (rustee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (then appealed to the U.S.N.D. GA. On March30, 2012, the U.S.N.D. GA) Tj ET Q q 0 0 0 rg BT 343.57 436.10 Td ( af) Tj ET Q q 0 0 0 rg BT 353.66 436.10 Td (firmed in part and reversed in part the ruling from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (the Bankruptcy Court and remanded the matter to the Bankruptcy Court. Discovery has closed and Oppenheimer filed a motion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (for summary judgment at the end of February 2014. On January 10, 2017, Oppenheimer's motion for summary judgment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (granted in full, and judgment was entered in Oppenheimer's favor and the court dismissed the case. On January 24, 2017, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 388.10 Td (rustee appealed the summary judgment order to the U.S.N.D. GA. ) Tj ET Q q 0 0 0 rg BT 322.46 388.10 Td (The ) Tj ET Q q 0 0 0 rg BT 340.32 388.10 Td (T) Tj ET Q q 0 0 0 rg BT 346.08 388.10 Td (rustee requested oral ar) Tj ET Q q 0 0 0 rg BT 438.91 388.10 Td (gument on the appeal which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (the U.S.N.D. GA) Tj ET Q q 0 0 0 rg BT 118.33 376.10 Td ( granted. ) Tj ET Q q 0 0 0 rg BT 155.64 376.10 Td (The U.S.N.D. GA) Tj ET Q q 0 0 0 rg BT 227.30 376.10 Td ( heard oral ar) Tj ET Q q 0 0 0 rg BT 280.15 376.10 Td (gument on February 5, 2018. On February 12, 2018, the U.S.N.D. GA) Tj ET Q q 0 0 0 rg BT 560.40 376.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (issued an order \(the "District Court Order"\) reversing the Bankruptcy Court's summary judgment order and remanding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (proceedings to the Bankruptcy Court. In March 2018, Oppenheimer filed a notice of direct appeal with the Court of ) Tj ET Q q 0 0 0 rg BT 514.03 352.10 Td (Appeals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (and alternatively moved to certify the District Court Order for interlocutory appeal.) Tj ET Q q 0 0 0 rg BT 385.54 340.10 Td (The ) Tj ET Q q 0 0 0 rg BT 403.40 340.10 Td (T) Tj ET Q q 0 0 0 rg BT 409.16 340.10 Td (rustee moved to dismiss the direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (appeal and opposed the motion for interlocutory appeal. In ) Tj ET Q q 0 0 0 rg BT 286.60 328.10 Td (April 2018, the U.S.N.D. GA) Tj ET Q q 0 0 0 rg BT 403.54 328.10 Td ( deferred ruling on the motion to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (certify pending the outcome of the direct appeal to the Court of ) Tj ET Q q 0 0 0 rg BT 304.92 316.10 Td (Appeals. Oppenheimer believes it has meritorious defenses and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (expects to defend the claims vigorously) Tj ET Q q 0 0 0 rg BT 207.92 304.10 Td (, including pursuing dismissal of the claims against it.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (On June24, 201) Tj ET Q q 0 0 0 rg BT 115.18 280.10 Td (1, Oppenheimer was served with a petition in a matter pending in state court in Collin County) Tj ET Q q 0 0 0 rg BT 489.73 280.10 Td (, ) Tj ET Q q 0 0 0 rg BT 494.55 280.10 Td (T) Tj ET Q q 0 0 0 rg BT 499.96 280.10 Td (exas captioned ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (Jerry Lancaster) Tj ET Q q 0 0 0 rg BT 112.49 268.10 Td (, Pr) Tj ET Q q 0 0 0 rg BT 127.12 268.10 Td (ovidence Holdings, Inc., Falcon Holdings, LLC and Der) Tj ET Q q 0 0 0 rg BT 352.56 268.10 Td (ek Lancaster v) Tj ET Q q 0 0 0 rg BT 410.13 268.10 Td (. Oppenheimer& Co., Inc., ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (Oppenheimer T) Tj ET Q q 0 0 0 rg BT 111.94 256.10 Td (rust Company) Tj ET Q q 0 0 0 rg BT 167.78 256.10 Td (, Charles ) Tj ET Q q 0 0 0 rg BT 206.77 256.10 Td (Antonuicci, ) Tj ET Q q 0 0 0 rg BT 254.91 256.10 Td (Alan Reichman, John Carley) Tj ET Q q 0 0 0 rg BT 369.88 256.10 Td (, Park ) Tj ET Q q 0 0 0 rg BT 396.64 256.10 Td (A) Tj ET Q q 0 0 0 rg BT 402.20 256.10 Td (venue Insurance, LLC and Park ) Tj ET Q q 0 0 0 rg BT 532.55 256.10 Td (A) Tj ET Q q 0 0 0 rg BT 538.11 256.10 Td (venue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (Bank) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.55 244.10 Td (.) Tj ET Q q 0 0 0 rg BT 75.37 244.10 Td (The action requests unspecified damages, including exemplary damages, for Oppenheimer's alleged breach of fiduciary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (duty) Tj ET Q q 0 0 0 rg BT 67.13 232.10 Td (, negligent hiring, fraud, conversion, conspiracy) Tj ET Q q 0 0 0 rg BT 258.37 232.10 Td (, breach of contract, unjust enrichment and violation of the ) Tj ET Q q 0 0 0 rg BT 495.33 232.10 Td (T) Tj ET Q q 0 0 0 rg BT 500.74 232.10 Td (exas Business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (and Commerce Code.) Tj ET Q q 0 0 0 rg BT 139.24 220.10 Td (The first amended petition alleges that Oppenheimer held itself out as having expertise in the insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (industry generally and managing insurance companies' investment portfolios but inappropriately allowed plaintif) Tj ET Q q 0 0 0 rg BT 501.23 208.10 Td (fs' bond ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (portfolios to be used by Park ) Tj ET Q q 0 0 0 rg BT 167.21 196.10 Td (A) Tj ET Q q 0 0 0 rg BT 173.69 196.10 Td (venue Insurance Company to secure the sale of Providence Property and Casualty Insurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (Company to Park ) Tj ET Q q 0 0 0 rg BT 121.94 184.10 Td (A) Tj ET Q q 0 0 0 rg BT 128.42 184.10 Td (venue Insurance Company) Tj ET Q q 0 0 0 rg BT 234.40 184.10 Td (. Following removal to the United States District Court for the Eastern District of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 172.10 Td (exas, Sherman Division, Providence Holdings, Inc. filed a new action in that court against Oppenheimer) Tj ET Q q 0 0 0 rg BT 472.12 172.10 Td (, Oppenheimer ) Tj ET Q q 0 0 0 rg BT 533.87 172.10 Td (T) Tj ET Q q 0 0 0 rg BT 539.62 172.10 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 160.10 Td (, and two individuals, re-asserting basically the same claims as above.On March18, 2013, the ) Tj ET Q q 0 0 0 rg BT 468.24 160.10 Td (T) Tj ET Q q 0 0 0 rg BT 473.65 160.10 Td (exas court approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (the parties' stipulation to stay the action pending resolution of all claims among the parties in the action pending in Oklahoma ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (styled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.39 136.10 Td (State of Oklahoma ex r) Tj ET Q q 0 0 0 rg BT 168.22 136.10 Td (el. Holland v) Tj ET Q q 0 0 0 rg BT 219.41 136.10 Td (. Pr) Tj ET Q q 0 0 0 rg BT 234.04 136.10 Td (ovidence Holdings, Inc., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.01 136.10 Td (described below) Tj ET Q q 0 0 0 rg BT 398.61 136.10 Td (. On ) Tj ET Q q 0 0 0 rg BT 417.78 136.10 Td (April 15, 201) Tj ET Q q 0 0 0 rg BT 471.02 136.10 Td (1, in an action styled ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (State of Oklahoma ex r) Tj ET Q q 0 0 0 rg BT 141.83 124.10 Td (el. Holland v) Tj ET Q q 0 0 0 rg BT 193.02 124.10 Td (. Pr) Tj ET Q q 0 0 0 rg BT 207.65 124.10 Td (ovidence Holdings, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.62 124.10 Td (, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.62 124.10 Td (et al.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.62 124.10 Td ( in the Oklahoma County District Court, Providence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (Holdings, Inc. asserted cross-claims against Oppenheimer Holdings Inc., Oppenheimer ) Tj ET Q q 0 0 0 rg BT 400.19 112.10 Td (Asset Management Inc., Oppenheimer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (Investment Management LLC, and Oppenheimer ) Tj ET Q q 0 0 0 rg BT 249.20 100.10 Td (T) Tj ET Q q 0 0 0 rg BT 254.96 100.10 Td (rust Company of Delaware Inc. related to the same facts at issue in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 88.10 Td (exas litigation discussed above. ) Tj ET Q q 0 0 0 rg BT 183.81 88.10 Td (These cross-claims included claims for breach of fiduciary duty) Tj ET Q q 0 0 0 rg BT 438.07 88.10 Td (, various theories of fraud, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (violation of ) Tj ET Q q 0 0 0 rg BT 98.70 76.10 Td (T) Tj ET Q q 0 0 0 rg BT 104.11 76.10 Td (exas commercial statutes, breach of contract, interference with prospective business advantage, and loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (business opportunity and sought undisclosed damages. ) Tj ET Q q 0 0 0 rg BT 271.19 64.10 Td (That case is in fact discovery) Tj ET Q q 0 0 0 rg BT 386.88 64.10 Td (. Oppenheimer believes it has meritorious ) Tj ET Q endstream endobj 143 0 obj <>] /Rotate 0 /Contents 144 0 R>> endobj 144 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (defenses to the claims raised and intends to defend against these claims vigorously) Tj ET Q q 0 0 0 rg BT 379.82 742.10 Td (, including pursuing dismissal of the claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (against it.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (On March15, 2013, the Company filed in the Supreme Court of the State of New ) Tj ET Q q 0 0 0 rg BT 378.45 706.10 Td (Y) Tj ET Q q 0 0 0 rg BT 384.67 706.10 Td (ork, County of New ) Tj ET Q q 0 0 0 rg BT 466.79 706.10 Td (Y) Tj ET Q q 0 0 0 rg BT 473.01 706.10 Td (ork \(the "New ) Tj ET Q q 0 0 0 rg BT 531.98 706.10 Td (Y) Tj ET Q q 0 0 0 rg BT 538.20 706.10 Td (ork ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Court"\), a breach of contract action against Canadian Imperial Bank of Commerce \("CIBC"\) in connection with the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (acquisition of CIBC's U.S. capital markets businesses for an amount of damages to be proven at trial. On January31, 2014, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Company filed an amended complaint. On March13, 2014, CIBC filed a motion to dismiss portions of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (amended complaint. In October 2014, the New ) Tj ET Q q 0 0 0 rg BT 239.85 658.10 Td (Y) Tj ET Q q 0 0 0 rg BT 246.07 658.10 Td (ork Court granted in part and denied in part the motion to dismiss and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (parties proceeded to discovery) Tj ET Q q 0 0 0 rg BT 171.25 646.10 Td (.On November 3, 2017, CIBC filed a motion for summary judgment. Fact discovery in the case ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (has concluded and the parties await the Court's ruling on CIBC's motion for summary judgment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (In June 2012, a claim was filed in the Circuit Court, 1) Tj ET Q q 0 0 0 rg BT 264.86 610.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 269.86 614.63 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.92 610.10 Td ( Judicial Circuit in Miami-Dade County Florida, Probate Division ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (\(which was subsequently transferred in 2014 to the Civil Division \("T) Tj ET Q q 0 0 0 rg BT 329.24 598.10 Td (rial Court"\) where it remains\), in a matter captioned ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Estate of Idelle Stern, by and thr) Tj ET Q q 0 0 0 rg BT 179.88 586.10 Td (ough the court or) Tj ET Q q 0 0 0 rg BT 249.23 586.10 Td (der) Tj ET Q q 0 0 0 rg BT 262.19 586.10 Td (ed limited ad litem, Rochelle Kevelson, T) Tj ET Q q 0 0 0 rg BT 426.04 586.10 Td (ikvah L) Tj ET Q q 0 0 0 rg BT 455.46 586.10 Td (yons, and Joyce Genauer ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (v) Tj ET Q q 0 0 0 rg BT 53.70 574.10 Td (. Oppenheimer T) Tj ET Q q 0 0 0 rg BT 120.63 574.10 Td (rust Company of Delawar) Tj ET Q q 0 0 0 rg BT 224.43 574.10 Td (e Inc., Oppenheimer & Co. Inc., Oppenheimer ) Tj ET Q q 0 0 0 rg BT 412.53 574.10 Td (Asset Management Inc., Eli ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (Molallen, James P) Tj ET Q q 0 0 0 rg BT 123.41 562.10 Td (. Carley Jr) Tj ET Q q 0 0 0 rg BT 165.35 562.10 Td (., and Ther) Tj ET Q q 0 0 0 rg BT 208.87 562.10 Td (on Hunting W) Tj ET Q q 0 0 0 rg BT 264.06 562.10 Td (orth Defendants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.78 562.10 Td (. ) Tj ET Q q 0 0 0 rg BT 333.60 562.10 Td (The plaintif) Tj ET Q q 0 0 0 rg BT 380.35 562.10 Td (fs' pleading has been dismissed multiple ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (times pursuant to defendants' motions to dismiss. Plaintif) Tj ET Q q 0 0 0 rg BT 278.28 550.10 Td (fs have filed their sixth amended complaint. Plaintif) Tj ET Q q 0 0 0 rg BT 485.82 550.10 Td (fs allege that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (defendants failed properly to communicate with certain beneficiaries of the Stern Survivors ) Tj ET Q q 0 0 0 rg BT 418.03 538.10 Td (T) Tj ET Q q 0 0 0 rg BT 423.78 538.10 Td (rust, Stern Marital ) Tj ET Q q 0 0 0 rg BT 499.15 538.10 Td (T) Tj ET Q q 0 0 0 rg BT 504.90 538.10 Td (rust, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Stern Credit Shelter ) Tj ET Q q 0 0 0 rg BT 131.75 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 137.50 526.10 Td (rust \(collectively) Tj ET Q q 0 0 0 rg BT 204.33 526.10 Td (, the "Stern ) Tj ET Q q 0 0 0 rg BT 251.56 526.10 Td (T) Tj ET Q q 0 0 0 rg BT 257.31 526.10 Td (rusts"\) established by Idelle Stern prior to her death; that defendants failed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (to adequately communicate with Ms. Stern, who was the co-trustee of the Stern ) Tj ET Q q 0 0 0 rg BT 370.01 514.10 Td (T) Tj ET Q q 0 0 0 rg BT 375.77 514.10 Td (rusts, during her lifetime; and that defendants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (failed to provide trust accountings to all qualified beneficiaries. ) Tj ET Q q 0 0 0 rg BT 305.84 502.10 Td (There are other causes of action based on alleged Florida Blue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Sky violations, elder abuse, breach of trust, constructive fraud and conspiracy) Tj ET Q q 0 0 0 rg BT 360.09 490.10 Td (. Plaintif) Tj ET Q q 0 0 0 rg BT 394.35 490.10 Td (fs seek damages of approximately $8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (million, as well as treble damages under the applicable Florida elder abuse statute. On November 30, 2016, defendants filed a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (motion for summary judgment seeking to dismiss all of the plaintif) Tj ET Q q 0 0 0 rg BT 317.56 466.10 Td (fs' claims. On May 16, 2017, the ) Tj ET Q q 0 0 0 rg BT 450.28 466.10 Td (T) Tj ET Q q 0 0 0 rg BT 456.04 466.10 Td (rial Court denied each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (the plaintif) Tj ET Q q 0 0 0 rg BT 93.42 454.10 Td (fs' and defendants' motions for summary judgment. On November 21, 2016, the plaintif) Tj ET Q q 0 0 0 rg BT 443.72 454.10 Td (fs filed a motion for Leave to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Seek Punitive Damages against the defendants. On March 24, 2017, the ) Tj ET Q q 0 0 0 rg BT 339.19 442.10 Td (T) Tj ET Q q 0 0 0 rg BT 344.95 442.10 Td (rial Court granted the plaintif) Tj ET Q q 0 0 0 rg BT 461.96 442.10 Td (fs' motion. On ) Tj ET Q q 0 0 0 rg BT 520.99 442.10 Td (April 24, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (2017, the defendants appealed the Court's ruling to the District Court of ) Tj ET Q q 0 0 0 rg BT 338.69 430.10 Td (Appeals of the Florida-Third District \(the "Appellate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Court"\). ) Tj ET Q q 0 0 0 rg BT 85.01 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.50 418.10 Td (Appellate Court heard oral ar) Tj ET Q q 0 0 0 rg BT 219.50 418.10 Td (gument on the appeal on January 22, 2018. On May 8, 2017, the plaintif) Tj ET Q q 0 0 0 rg BT 507.87 418.10 Td (fs filed a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (motion in the ) Tj ET Q q 0 0 0 rg BT 105.28 406.10 Td (Appellate Court to dismiss the defendants' appeal. On May 24, 2017, the ) Tj ET Q q 0 0 0 rg BT 397.86 406.10 Td (Appellate Court denied the plaintif) Tj ET Q q 0 0 0 rg BT 537.08 406.10 Td (fs' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (motion. On February 7, 2018, the ) Tj ET Q q 0 0 0 rg BT 185.82 394.10 Td (Appellate Court dismissed the defendants' appeal. On February 12, 2018, the ) Tj ET Q q 0 0 0 rg BT 495.70 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 501.46 394.10 Td (rial Court ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (entered an order setting June 25, 2018 as the date for the trial to commence. In March 2018, defendants filed a motion to vacate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.54 370.10 Td (T) Tj ET Q q 0 0 0 rg BT 70.29 370.10 Td (rial Court) Tj ET Q q 0 0 0 rg BT 111.67 370.10 Td (s Order setting a trial date. ) Tj ET Q q 0 0 0 rg BT 220.07 370.10 Td (That motion is currently pending. Defendants believe they have meritorious defenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (and intend to defend themselves vigorously) Tj ET Q q 0 0 0 rg BT 223.48 358.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.28 334.10 Td (August 2016, Claimant James Batsmasian filed a FINRA) Tj ET Q q 0 0 0 rg BT 288.59 334.10 Td ( arbitration claim against Oppenheimer seeking damages in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (amount of $6.75 million, plus punitive damages in the amount of $500,000 and interest, and asserting a variety of claims, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (including claims for fraud, gross negligence, negligent misrepresentation, breach of contract and failure to supervise, in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (connection with his alleged purchase of securities in OneScreen, Inc. in 2013 and ) Tj ET Q q 0 0 0 rg BT 377.40 298.10 Td (Adaptive Medias, Inc. in 2014 and 2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (which purchases were not made through claimant's account at Oppenheimer) Tj ET Q q 0 0 0 rg BT 353.64 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 358.09 286.10 Td (Although claimant did not purchase these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (securities in his Oppenheimer account, he alleges that he was induced to purchase these securities as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (misrepresentations made by one or more former Oppenheimer employees. Oppenheimer has filed an answer denying the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (claims, as well as a third-party claim against a former Oppenheimer employee. ) Tj ET Q q 0 0 0 rg BT 367.48 250.10 Td (The arbitration hearing is scheduled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (commence in July 2018. Oppenheimer believes it has meritorious defenses to the claims and intends to defend itself vigorously) Tj ET Q q 0 0 0 rg BT 558.40 238.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (In January 2017, Oppenheimer received a Notice of Civil Claim in the Supreme Court of British Columbia, Canada by ) Tj ET Q q 0 0 0 rg BT 527.21 214.10 Td (T) Tj ET Q q 0 0 0 rg BT 532.62 214.10 Td (eck ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (Metals Ltd. against Oppenheimer Holdings Inc. as well as co-defendants ) Tj ET Q q 0 0 0 rg BT 343.07 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 351.71 202.10 Td (estern Forest Products Inc., Xylem Canada ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Company/Societe Xylem Canada, JRM Financial Services Ltd. and Glencore Corporation Canada. ) Tj ET Q q 0 0 0 rg BT 446.94 190.10 Td (The civil claim seeks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (damages and/or the cost of environmental clean-up for property purportedly managed during the period 1965-66 by a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (predecessor company of Oppenheimer Holdings Inc. ) Tj ET Q q 0 0 0 rg BT 263.36 166.10 Td (The underlying claim involves alleged adverse environmental impact at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (the Sunro Mine, located in British Columbia, which properties are now owned by plaintif) Tj ET Q q 0 0 0 rg BT 407.25 154.10 Td (f and seeks unspecified damages from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (defendants. ) Tj ET Q q 0 0 0 rg BT 98.13 142.10 Td (T) Tj ET Q q 0 0 0 rg BT 103.54 142.10 Td (o date, the plaintif) Tj ET Q q 0 0 0 rg BT 176.12 142.10 Td (f has not actively prosecuted the claim. ) Tj ET Q q 0 0 0 rg BT 334.77 142.10 Td (The other defendants have various alleged historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (connections to the property) Tj ET Q q 0 0 0 rg BT 158.49 130.10 Td (, which plaintif) Tj ET Q q 0 0 0 rg BT 219.13 130.10 Td (f contends allows plaintif) Tj ET Q q 0 0 0 rg BT 320.31 130.10 Td (f to assert claims against those defendants, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (Oppenheimer Holdings Inc. Oppenheimer believes it has meritorious defenses to the claims and intends to defend itself ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (vigorously) Tj ET Q q 0 0 0 rg BT 92.13 106.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (See also "Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 212.80 82.10 Td (Analysis of Financial Condition and Results of Operations Regulatory and Legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Environment Other Regulatory Matters" in Part I, Item 2.) Tj ET Q endstream endobj 145 0 obj <>] /Rotate 0 /Contents 146 0 R>> endobj 146 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (Item1A. RISK F) Tj ET Q q 0 0 0 rg BT 121.53 742.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 142.46 742.25 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 718.25 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.86 718.25 Td (March31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.46 718.25 Td (, there were no material changes to the information contained in Part I, Item 1A) Tj ET Q q 0 0 0 rg BT 557.13 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 706.25 Td (of the Company's ) Tj ET Q q 0 0 0 rg BT 121.58 706.25 Td (Annual Report on Form 10-K for the year ended December 31, 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Item2. Unr) Tj ET Q q 0 0 0 rg BT 99.53 682.25 Td (egister) Tj ET Q q 0 0 0 rg BT 127.67 682.25 Td (ed Sales of Equity Securities and Use of Pr) Tj ET Q q 0 0 0 rg BT 308.59 682.25 Td (oceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 86.00 658.25 Td (During the first quarter of 2018, the Company issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.40 658.25 Td (1,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.90 658.25 Td ( shares of Class ) Tj ET Q q 0 0 0 rg BT 387.34 658.25 Td (A) Tj ET Q q 0 0 0 rg BT 394.01 658.25 Td ( Stock pursuant to the Company's share-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 646.25 Td (based compensation plans for no cash consideration.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 86.00 634.25 Td (Not applicable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 86.00 622.25 Td (Not applicable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Item6. EXHIBITS) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 570.9833984375 m 70.5 570.9833984375 l s q 0 0 1 rg BT 53.00 572.32 Td (31.1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 83 570.9833984375 m 229.34765625 570.9833984375 l s q 0 0 1 rg BT 83.00 572.32 Td (Certification of ) Tj ET Q q 0 0 1 rg BT 146.32 572.32 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 545.9833984375 m 70.5 545.9833984375 l s q 0 0 1 rg BT 53.00 547.32 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 83 545.9833984375 m 213.0537109375 545.9833984375 l s q 0 0 1 rg BT 83.00 547.32 Td (Certification of Jef) Tj ET Q q 0 0 1 rg BT 158.35 547.32 Td (frey J. ) Tj ET Q q 0 0 1 rg BT 185.29 547.32 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 520.9833984375 m 63 520.9833984375 l s q 0 0 1 rg BT 53.00 522.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 83 520.9833984375 m 314.97265625 520.9833984375 l s q 0 0 1 rg BT 83.00 522.32 Td (Certification of ) Tj ET Q q 0 0 1 rg BT 146.32 522.32 Td (Albert G. Lowenthal and Jef) Tj ET Q q 0 0 1 rg BT 260.27 522.32 Td (frey J. ) Tj ET Q q 0 0 1 rg BT 287.20 522.32 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.32 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 497.32 Td (Interactive data files pursuant to Rule 405 of Regulation S-T) Tj ET Q q 0 0 0 rg BT 325.35 497.32 Td ( \(unaudited\): \(i\) the Condensed Consolidated Balance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 487.32 Td (Sheets as of March 31, 2018 and December 31, 2017, \(ii\) the Condensed Consolidated Statements of Operations for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 477.32 Td (the three months ended March 31, 2018 and 2017, \(iii\) the Condensed Consolidated Statements of Comprehensive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 467.32 Td (Income \(Loss\) for the three months ended March 31, 2018 and 2017, \(iv\) the Condensed Consolidated Statements of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 457.32 Td (Changes in Stockholders' Equity for the three months ended March 31, 2018 and 2017, \(v\) the Condensed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 447.32 Td (Consolidated Statements of Cash Flows for the three months ended March 31, 2018 and 2017, and \(vi\) the notes to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 437.32 Td (Condensed Consolidated Financial Statements.*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 412.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 412.32 Td (This information is furnished and not filed for purposes of Sections 1) Tj ET Q q 0 0 0 rg BT 359.53 412.32 Td (1 and 12 of the Securities ) Tj ET Q q 0 0 0 rg BT 463.40 412.32 Td (Act of 1933 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 402.32 Td (Section 18 of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 236.85 402.32 Td (Act of 1934.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 565.00 397.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td ( ) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.85 742.25 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.78 742.25 Td (TURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Pursuant to the requirements of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 276.05 718.25 Td (Act of 1934, the registrant has duly caused this report to be signed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (its behalf by the undersigned, thereunto duly authorized, in the City of New ) Tj ET Q q 0 0 0 rg BT 354.83 706.25 Td (Y) Tj ET Q q 0 0 0 rg BT 361.05 706.25 Td (ork, State of New ) Tj ET Q q 0 0 0 rg BT 433.72 706.25 Td (Y) Tj ET Q q 0 0 0 rg BT 439.94 706.25 Td (ork, on the 27th day of ) Tj ET Q q 0 0 0 rg BT 532.98 706.25 Td (April, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.32 Td (OPPENHEIMER HOLDINGS INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 639.32 Td (BY) Tj ET Q q 0 0 0 rg BT 66.43 639.32 Td (: /s/ ) Tj ET Q q 0 0 0 rg BT 82.92 639.32 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.32 Td (Albert G. 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Lowenthal, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 661.52 Td (1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 661.52 Td (I have reviewed this quarterly report on Form10-Q of Oppenheimer Holdings Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 642.52 Td (2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 641.62 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 631.62 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 621.62 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 603.52 Td (3.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 349.52 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 203.16 349.52 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 339.52 Td (financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors \(or persons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 329.52 Td (performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 310.52 Td (a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 310.52 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 300.52 Td (reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 292.16 300.52 Td (fect the registrant's ability to record, process, summarize and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 290.52 Td (report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 271.52 Td (b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 271.52 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 261.52 Td (registrant's internal control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 230.52 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 64.17 230.52 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.52 Td (Name: ) Tj ET Q q 0 0 0 rg BT 81.38 217.52 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 204.52 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 204.52 Td (itle: Chief Executive Of) Tj ET Q q 0 0 0 rg BT 153.97 204.52 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.52 Td (April 27, 2018) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.85 740.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 542.46 740.25 Td ( 31.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.90 713.85 Td (CER) Tj ET Q q 0 0 0 rg BT 119.66 713.85 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 153.92 713.85 Td (TION PURSUANT) Tj ET Q q 0 0 0 rg BT 236.25 713.85 Td ( ) Tj ET Q q 0 0 0 rg BT 238.57 713.85 Td (T) Tj ET Q q 0 0 0 rg BT 245.06 713.85 Td (O SECTION 302 OF) Tj ET Q q 0 0 0 rg BT 333.87 713.85 Td ( ) Tj ET Q q 0 0 0 rg BT 336.19 713.85 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 451.68 713.85 Td ( ) Tj ET Q q 0 0 0 rg BT 453.63 713.85 Td (ACT) Tj ET Q q 0 0 0 rg BT 474.56 713.85 Td ( OF) Tj ET Q q 0 0 0 rg BT 490.57 713.85 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 687.45 Td (I, Jef) Tj ET Q q 0 0 0 rg BT 69.31 687.45 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 96.25 687.45 Td (Alfano, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 661.52 Td (1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 661.52 Td (I have reviewed this quarterly report on Form10-Q of Oppenheimer Holdings Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 642.52 Td (2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 641.62 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 631.62 Td (fact necessary to make the statements made, in light of the circumstances under which such statements were made, not) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 621.62 Td (misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 603.52 Td (3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 603.52 Td (Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 593.52 Td (all material respects the financial condition, results of operations and cash flows of the registrant as of, and for) Tj ET Q q 0 0 0 rg BT 507.82 593.52 Td (, the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 583.52 Td (periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 564.52 Td (4.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 564.52 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 203.16 564.52 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure controls and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 554.52 Td (procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 211.44 554.52 Td (Act Rules13a-15\(e\) and 15d-15\(e\)\) and internal control over financial reporting \(as) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 544.52 Td (defined in Exchange ) Tj ET Q q 0 0 0 rg BT 150.91 544.52 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 525.52 Td (a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 525.52 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 515.52 Td (under our supervision, to ensure that material information relating to the registrant, including its consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 505.52 Td (subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 495.52 Td (being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 476.52 Td (b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 476.52 Td (Designed such internal control over financial reporting, or caused such internal control over financial reporting to be) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 466.52 Td (designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 456.52 Td (preparation of financial statements for external purposes in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 437.52 Td (c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 437.52 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 146.38 437.52 Td (fectiveness of the registrant's disclosure controls and procedures and presented in this report our) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 427.52 Td (conclusions about the ef) Tj ET Q q 0 0 0 rg BT 178.33 427.52 Td (fectiveness of the disclosure controls and procedures, as of the end of the period covered by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 417.52 Td (this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 398.52 Td (d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 398.52 Td (Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 388.52 Td (registrant's most recent fiscal quarter \(the registrant's fourth fiscal quarter in the case of an annual report\) that has) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 378.52 Td (materially af) Tj ET Q q 0 0 0 rg BT 132.22 378.52 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 313.63 378.52 Td (fect, the registrant's internal control over financial reporting;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 368.52 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 349.52 Td (5.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 349.52 Td (The registrant's other certifying of) Tj ET Q q 0 0 0 rg BT 203.16 349.52 Td (ficer and I have disclosed, based on our most recent evaluation of internal control over) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 339.52 Td (financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors \(or persons) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 329.52 Td (performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 310.52 Td (a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 310.52 Td (All significant deficiencies and material weaknesses in the design or operation of internal control over financial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 300.52 Td (reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 292.16 300.52 Td (fect the registrant's ability to record, process, summarize and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 290.52 Td (report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.50 271.52 Td (b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 271.52 Td (Any fraud, whether or not material, that involves management or other employees who have a significant role in the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 261.52 Td (registrant's internal control over financial reporting.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 230.52 Td (/s/ Jef) Tj ET Q q 0 0 0 rg BT 76.02 230.52 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 103.14 230.52 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.52 Td (Name: Jef) Tj ET Q q 0 0 0 rg BT 93.23 217.52 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 120.35 217.52 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 204.52 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 204.52 Td (itle: Chief Financial Of) Tj ET Q q 0 0 0 rg BT 151.20 204.52 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 191.52 Td (April 27, 2018) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 549.96 742.25 Td ( 32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.05 718.25 Td (CER) Tj ET Q q 0 0 0 rg BT 122.81 718.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 157.07 718.25 Td (TION PURSUANT) Tj ET Q q 0 0 0 rg BT 239.40 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 241.72 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 248.21 718.25 Td (O 18 U.S.C. SECTION 1350, ) Tj ET Q q 0 0 0 rg BT 372.96 718.25 Td (AS ) Tj ET Q q 0 0 0 rg BT 387.69 718.25 Td (ADPOTED PURSUANT) Tj ET Q q 0 0 0 rg BT 493.35 718.25 Td ( ) Tj ET Q q 0 0 0 rg BT 495.67 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 502.16 718.25 Td (O) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.10 706.25 Td (SECTION 906 OF) Tj ET Q q 0 0 0 rg BT 255.63 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.95 706.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 373.44 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 375.39 706.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 396.32 706.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 412.33 706.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 682.25 Td (The undersigned, ) Tj ET Q q 0 0 0 rg BT 120.87 682.25 Td (Albert G. Lowenthal, Chairman and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 345.34 682.25 Td (ficer of Oppenheimer Holdings Inc. \(the "Company"\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 670.25 Td (and Jef) Tj ET Q q 0 0 0 rg BT 77.92 670.25 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 104.86 670.25 Td (Alfano, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 212.42 670.25 Td (ficer of the Company) Tj ET Q q 0 0 0 rg BT 297.02 670.25 Td (, hereby certify that to his knowledge the Quarterly Report on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (Form 10-Q for the quarter ended March 31, 2018 of the Company filed with the Securities and Exchange Commission on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 646.25 Td (date hereof \(the "Report"\) fully complies with the requirements of Section13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 516.40 646.25 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 634.25 Td (1934 and the information contained in the Report fairly presents, in all material respects, the financial condition and results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 622.25 Td (operations of the Company for the period specified.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 598.25 Td (Signed at New ) Tj ET Q q 0 0 0 rg BT 110.51 598.25 Td (Y) Tj ET Q q 0 0 0 rg BT 116.73 598.25 Td (ork, New ) Tj ET Q q 0 0 0 rg BT 156.07 598.25 Td (Y) Tj ET Q q 0 0 0 rg BT 162.29 598.25 Td (ork, this 27th day of ) Tj ET Q q 0 0 0 rg BT 245.06 598.25 Td (April, 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 565.32 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 64.17 565.32 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 552.32 Td (Albert G. Lowenthal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 539.32 Td (Chairman and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 189.03 539.32 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 511.32 Td (/s/ Jef) Tj ET Q q 0 0 0 rg BT 76.02 511.32 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 103.14 511.32 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 498.32 Td (Jef) Tj ET Q q 0 0 0 rg BT 64.07 498.32 Td (frey J. ) Tj ET Q q 0 0 0 rg BT 91.19 498.32 Td (Alfano) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 485.32 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 127.30 485.32 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 458.25 Td (This certification accompanies this Report on Form 10-Q pursuant to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 469.69 458.25 Td (Act of 2002 and shall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 446.25 Td (not, except to the extent required by such ) Tj ET Q q 0 0 0 rg BT 216.39 446.25 Td (Act, be deemed filed by the Company for purposes of Section18 of the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 434.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 90.87 434.25 Td (Act of 1934, as amended \(the "Exchange ) Tj ET Q q 0 0 0 rg BT 256.57 434.25 Td (Act"\). 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