Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment information

The Company has determined its reportable segments based on the Company's method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its segments and allocates resources to them based upon profitability.

The Company's reportable segments are:

Private Client- includes commissions and a proportionate amount of fee income earned on AUM, net interest earnings on client margin loans and cash balances, fees from money market funds, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment;

Asset Management - includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer's asset management divisions employ various programs to professionally manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment;

Capital Markets - includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment;

Commercial Mortgage Banking - includes loan origination and servicing fees from the Company's subsidiary, OMHHF; and

Corporate/Other - the Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation and benefits.

The table below presents information about the reported revenue and net income (loss) before taxes of the Company for the years ended December 31, 2015, 2014 and 2013. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the chief operating decision maker.

(Expressed in thousands)
	For the Year Ended December 31,
	2015			2014			2013
Revenue
Private client (1)	$	521,526		$	582,364		$	600,071
Asset management (1)	97,121			99,964			102,214
Capital markets	279,589			298,597			281,377
Commercial mortgage banking	30,584			23,329			34,144
Corporate/Other	(435		)	210			1,908
Total	$	928,385		$	1,004,464		$	1,019,714
Income (loss) before income tax provision (benefit)
Private client (1)	$	59,016		$	60,116		$	65,924
Asset management (1)	33,133			33,707			40,951
Capital markets	5,167			17,819			6,968
Commercial mortgage banking	9,139			8,546			11,413
Corporate/Other	(99,744		)	(94,452		)	(81,347		)
Total	$	6,711		$	25,736		$	43,909

(1)  Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.

Revenue, classified by the major geographic areas in which it was earned for the years ended December 31, 2015, 2014 and 2013 was as follows:

(Expressed in thousands)
	Year Ended December 31,
	2015		2014		2013
Americas	$	883,805	$	955,361	$	978,249
Europe/Middle East	40,603		43,087		36,516
Asia	3,977		6,016		4,949
Total	$	928,385	$	1,004,464	$	1,019,714