Divestitures and Acquisitions (Tables) - Sale of subsidiaries

12 Months Ended

Dec. 31, 2017

ITG Investment Research

Acquisitions

Summary of components of pre-tax gain

The following table summarizes the components of the pre-tax gain (dollars in thousands):

Cash proceeds from sale	$	12,000
Carrying value of net assets disposed		(7,502)
Direct selling costs		(4,477)
Pre-tax gain on sale	$	21

Energy research business

Acquisitions

Summary of components of pre-tax gain

The following table summarizes the components of the pre-tax gain (dollars in thousands):

Cash proceeds from sale	$	120,500
Working capital adjustment		(1,615)
Carrying value of net assets disposed		(3,025)
Direct selling costs		(8,161)
Pre-tax gain on sale	$	107,699