(23) Supplementary Financial Information (unaudited)

The following tables set forth certain unaudited financial data for the Company's quarterly operations in 2015 and 2014. The following information has been prepared on the same basis as the annual information presented elsewhere in this report and, in the opinion of management, includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the information for the quarterly periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

	(Unaudited) December 31, 2015									(Unaudited) December 31, 2014
$ in thousands, expect per share amounts	Fourth Quarter		Third Quarter		Second Quarter			First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Total revenues	$	224,173	$	120,409	$	140,494		$	149,727	$	148,966	$	134,773	$	138,466	$	137,609
Expenses:
Compensation and employee benefits		51,711		46,305		53,899			57,408		59,453		52,408		52,720		51,177
Transaction processing		20,111		21,621		25,187			24,573		24,234		21,561		20,109		20,496
Occupancy and equipment		14,424		14,229		14,470			14,372		14,811		14,937		14,985		15,078
Telecommunications and data processing services		12,961		12,779		13,011			12,772		12,893		12,942		12,655		12,697
Other general and administrative		19,894		21,856		42,408			17,757		19,248		20,281		20,715		19,105
Interest expense		427		429		468			505		526		566		594		636

Total expenses		119,528		117,219		149,443			127,387		131,165		122,695		121,778		119,189

Income before income tax expense		104,645		3,190		(8,949	)		22,340		17,801		12,078		16,688		18,420
Income tax expense		22,308		480		1,261			5,607		4,820		713		3,762		4,800

Net income	$	82,337	$	2,710	$	(10,210	)	$	16,733	$	12,981	$	11,365	$	12,926	$	13,620


Basic earnings per share	$	2.46	$	0.08	$	(0.30	)	$	0.49	$	0.38	$	0.32	$	0.36	$	0.38


Diluted earnings (loss) per share	$	2.40	$	0.08	$	(0.30	)	$	0.47	$	0.36	$	0.32	$	0.35	$	0.37


Basic weighted average number of common shares outstanding		33,433		33,859		34,076			34,268		34,521		35,093		35,720		36,081


Diluted weighted average number of common shares outstanding		34,359		34,547		34,076			35,451		35,640		36,026		36,641		37,185

Earnings per share for quarterly periods are based on the weighted average common shares outstanding in individual quarters; thus, the sum of earnings per share of the quarters may not equal the amounts reported for the full year.

	(Unaudited) December 31, 2015												(Unaudited) December 31, 2014
As a percentage of Total Revenues	Fourth Quarter(a)			Third Quarter			Second Quarter(b)			First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Total revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Expenses:
Compensation and employee benefits		23.1			38.4			38.4			38.3			39.9			38.9			38.1			37.2
Transaction processing		9.0			18.0			17.9			16.4			16.3			16.0			14.5			14.9
Occupancy and equipment		6.4			11.8			10.3			9.6			9.9			11.1			10.8			11.0
Telecommunications and data processing services		5.8			10.6			9.3			8.5			8.7			9.6			9.1			9.2
Other general and administrative		8.9			18.2			30.2			11.9			12.9			15.0			15.0			13.9
Restructuring charges		—			—			—			—			—			—			—			—
Interest expense		0.2			0.4			0.3			0.3			0.4			0.4			0.4			0.4

Total expenses		53.4			97.4			106.4			85.0			88.1			91.0			87.9			86.6

Income before income tax expense		46.6			2.6			(6.4	)		15.0			11.9			9.0			12.1			13.4
Income tax expense		10.0			0.4			0.9			3.7			3.2			0.5			2.7			3.5

Net income		36.6	%		2.2	%		(7.3	)%		11.3	%		8.7	%		8.5	%		9.4	%		9.9	%


(a)	Fourth quarter of 2015 results include the non-recurring gain on the sale of the subsidiaries conducting the Company's energy research business to an affiliate of Warburg Pincus (see Note 5, Acquisitions and Divestitures) as well as a tax charge resulting from the amendment of the capital structure of our principal holding company outside North America (see Note 9, Income Taxes).
(b)	Second quarter of 2015 results include the final settlement with the SEC to pay an aggregate amount of $20.3 million in connection with the SEC's investigation into a proprietary trading pilot operated during 2010 and 2011 as well as $2.3 million in legal and other settlement related costs incurred during the quarter.