Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2016

(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	196	$	119	$	62,164	$	—		$	62,479
Deposits with clearing organizations	—		—		56,567		—			56,567
Receivable from brokers, dealers and clearing organizations	—		—		263,363		—			263,363
Receivable from customers, net of allowance for credit losses of $2,573	—		—		791,631		—			791,631
Income tax receivable	34,696		27,742		—		(45,177		)	17,261
Securities owned, including amounts pledged of $705,835, at fair value	—		1,213		1,035,569		—			1,036,782
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $58,350 and $8,722, respectively	—		—		32,869		—			32,869
Office facilities, net of accumulated depreciation of $106,206	—		21,477		7,041		—			28,518
Loans held for sale, at fair value	—		—		13,532		—			13,532
Mortgage servicing rights	—		—		28,024		—			28,024
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	138		2,739		117,372		—			120,249
Deferred tax assets	1,135		317		27,550		(29,002		)	—
Investment in subsidiaries	577,002		528,357		—		(1,105,359		)	—
Intercompany receivables	53,871		18,409		—		(72,280		)	—
Total assets	$	667,038	$	712,931	$	2,605,271	$	(1,364,376	)	$	2,620,864
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Drafts payable	$	—	$	—	$	37,663	$	—		$	37,663
Bank call loans	—		—		148,300		—			148,300
Payable to brokers, dealers and clearing organizations	—		—		207,879		—			207,879
Payable to customers	—		—		521,557		—			521,557
Securities sold under agreements to repurchase	—		—		529,752		—			529,752
Securities sold, but not yet purchased, at fair value	—		—		270,952		—			270,952
Accrued compensation	—		—		93,835		—			93,835
Accounts payable and other liabilities	6,225		35,488		84,470		—			126,183
Income tax payable	2,440		22,189		20,548		(45,177		)	—
Senior secured notes, net of debt issuance costs of $1,011	148,989		—		—		—			148,989
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities	—		—		48,410		(29,002		)	19,408
Intercompany payables	—		62,204		10,076		(72,280		)	—
Total liabilities	157,654		119,881		2,086,000		(259,017		)	2,104,518
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	509,384		593,050		512,309		(1,105,359		)	509,384
Noncontrolling interest	—		—		6,962		—			6,962
Total stockholders’ equity	509,384		593,050		519,271		(1,105,359		)	516,346
Total liabilities and stockholders’ equity	$	667,038	$	712,931	$	2,605,271	$	(1,364,376	)	$	2,620,864

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015

(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	907	$	2,586	$	59,871	$	—		$	63,364
Deposits with clearing organizations	—		—		49,490		—			49,490
Receivable from brokers, dealers and clearing organizations	—		—		360,913		—			360,913
Receivable from customers, net of allowance for credit losses of $2,545	—		—		840,355		—			840,355
Income tax receivable	33,801		27,536		—		(50,400		)	10,937
Securities purchased under agreements to resell	—		—		206,499		—			206,499
Securities owned, including amounts pledged of $546,334, at fair value	—		1,183		734,210		—			735,393
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $54,919 and $8,444, respectively	—		—		32,849		—			32,849
Office facilities, net of accumulated depreciation of $104,961	—		20,793		7,497		—			28,290
Loans held for sale, at fair value	—		—		60,234		—			60,234
Mortgage servicing rights	—		—		28,168		—			28,168
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	69		3,224		102,458		—			105,751
Deferred tax assets	317		330		29,900		(30,547		)	—
Investment in subsidiaries	577,320		532,651		—		(1,109,971		)	—
Intercompany receivables	60,187		13,185		—		(73,372		)	—
Total assets	$	672,601	$	714,046	$	2,682,033	$	(1,376,848	)	$	2,691,832
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Drafts payable	$	—	$	—	$	48,011	$	—		$	48,011
Bank call loans	—		—		100,200		—			100,200
Payable to brokers, dealers and clearing organizations	—		—		164,546		—			164,546
Payable to customers	—		—		594,833		—			594,833
Securities sold under agreements to repurchase	—		—		651,445		—			651,445
Securities sold, but not yet purchased, at fair value	—		—		126,493		—			126,493
Accrued compensation	—		—		150,898		—			150,898
Accounts payable and other liabilities	3,235		35,812		125,736		—			164,783
Income tax payable	2,440		22,189		25,771		(50,400		)	—
Senior secured notes, net of debt issuance costs of $1,132	148,868		—		—		—			148,868
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities	—		—		47,220		(30,547		)	16,673
Intercompany payables	—		62,204		11,168		(73,372		)	—
Total liabilities	154,543		120,205		2,158,879		(266,877		)	2,166,750
Stockholders’ equity
Stockholders’ equity attributable to Oppenheimer Holdings Inc.	518,058		593,841		516,130		(1,109,971		)	518,058
Noncontrolling interest	—		—		7,024		—			7,024
Total stockholders’ equity	518,058		593,841		523,154		(1,109,971		)	525,082
Total liabilities and stockholders’ equity	$	672,601	$	714,046	$	2,682,033	$	(1,376,848	)	$	2,691,832

Condensed Consolidating Statement of Operations

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2016

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—		$	103,833		$	—		$	103,833
Advisory fees	—			—			66,379			(353		)	66,026
Investment banking	—			—			12,383			—			12,383
Interest	—			2,557			13,389			(2,567		)	13,379
Principal transactions, net	—			30			1,501			—			1,531
Other	—			78			21,542			(78		)	21,542
Total revenue	—			2,665			219,027			(2,998		)	218,694
EXPENSES
Compensation and related expenses	387			—			151,026			—			151,413
Communications and technology	28			—			17,753			—			17,781
Occupancy and equipment costs	—			—			15,056			(78		)	14,978
Clearing and exchange fees	—			—			6,921			—			6,921
Interest	3,281			—			4,374			(2,567		)	5,088
Other	673			3			30,187			(353		)	30,510
Total expenses	4,369			3			225,317			(2,998		)	226,691
Income (loss) before income tax provision (benefit)	(4,369		)	2,662			(6,290		)	—			(7,997		)
Income tax provision (benefit)	(1,714		)	1,004			(3,378		)	—			(4,088		)
Equity in earnings of subsidiaries	(1,192		)	(2,850		)	—			4,042			—
Net loss	(3,847		)	(1,192		)	(2,912		)	4,042			(3,909		)
Less net loss attributable to noncontrolling interest, net of tax	—			—			(62		)	—			(62		)
Net loss attributable to Oppenheimer Holdings Inc.	(3,847		)	(1,192		)	(2,850		)	4,042			(3,847		)
Other comprehensive income	—			—			873			—			873
Total comprehensive loss	$	(3,847	)	$	(1,192	)	$	(1,977	)	$	4,042		$	(2,974	)

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2015

(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	109,695		$	—		$	109,695
Advisory fees	—			—		71,420			(454		)	70,966
Investment banking	—			—		27,305			—			27,305
Interest	—			2,566		11,033			(2,564		)	11,035
Principal transactions, net	—			—		18,609			(54		)	18,555
Other	—			95		7,985			(75		)	8,005
Total revenue	—			2,661		246,047			(3,147		)	245,561
EXPENSES
Compensation and related expenses	312			—		162,779			—			163,091
Communications and technology	25			—		17,143			—			17,168
Occupancy and equipment costs	—			—		15,853			(75		)	15,778
Clearing and exchange fees	—			—		6,402			—			6,402
Interest	3,281			—		3,193			(2,564		)	3,910
Other	288			68		29,513			(508		)	29,361
Total expenses	3,906			68		234,883			(3,147		)	235,710
Income (loss) before income tax provision (benefit)	(3,906		)	2,593		11,164			—			9,851
Income tax provision (benefit)	(1,480		)	847		4,363			—			3,730
Equity in earnings of subsidiaries	8,145			6,399		—			(14,544		)	—
Net income	5,719			8,145		6,801			(14,544		)	6,121
Less net income attributable to noncontrolling interest, net of tax	—			—		402			—			402
Net income attributable to Oppenheimer Holdings Inc.	5,719			8,145		6,399			(14,544		)	5,719
Other comprehensive loss	—			—		(567		)	—			(567		)
Total comprehensive income	$	5,719		$	8,145	$	5,832		$	(14,544	)	$	5,152

Condensed Consolidating Statement of Cash Flows

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	5,140		$	(2,467	)	$	(44,045	)	$	—	$	(41,372	)
Cash flows from investing activities:
Purchase of office facilities	—			—			(1,762		)	—		(1,762		)
Cash used in investing activities	—			—			(1,762		)	—		(1,762		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(1,476		)	—			—			—		(1,476		)
Repurchase of Class A non-voting common stock for cancellation	(3,634		)	—			—			—		(3,634		)
Tax deficiency from share-based awards	(741		)	—			—			—		(741		)
Increase in bank call loans, net	—			—			48,100			—		48,100
Cash flow provided by (used in) financing activities	(5,851		)	—			48,100			—		42,249
Net increase (decrease) in cash and cash equivalents	(711		)	(2,467		)	2,293			—		(885		)
Cash and cash equivalents, beginning of the period	907			2,586			59,871			—		63,364
Cash and cash equivalents, end of the period	$	196		$	119		$	62,164		$	—	$	62,479

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015

(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	1,394		$	436	$	(38,413	)	$	—	$	(36,583	)
Cash flows from investing activities:
Purchase of office facilities	—			—		(474		)	—		(474		)
Cash used in investing activities	—			—		(474		)	—		(474		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(1,511		)	—		—			—		(1,511		)
Tax deficiency from share-based awards	(321		)	—		—			—		(321		)
Increase in bank call loans, net	—			—		42,000			—		42,000
Cash flow provided by (used in) financing activities	(1,832		)	—		42,000			—		40,168
Net increase (decrease) in cash and cash equivalents	(438		)	436		3,113			—		3,111
Cash and cash equivalents, beginning of the period	439			1,557		61,811			—		63,807
Cash and cash equivalents, end of the period	$	1		$	1,993	$	64,924		$	—	$	66,918