Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2016
(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	606	$	525	$	106,406	$	—		$	107,537
Deposits with clearing organizations	—		—		42,910		—			42,910
Receivable from brokers, dealers and clearing organizations	—		—		315,308		—			315,308
Receivable from customers, net of allowance for credit losses of $2,543	—		—		780,670		—			780,670
Income tax receivable	39,056		27,984		—		(49,506		)	17,534
Securities owned, including amounts pledged of $657,527, at fair value	—		1,261		950,645		—			951,906
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $61,671 and $8,062, respectively	—		—		33,012		—			33,012
Office facilities, net of accumulated depreciation of $107,810	—		21,274		6,606		—			27,880
Assets held for sale	—		—		21,764		—			21,764
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	100		2,502		105,017		—			107,619
Deferred tax assets	48		309		39,147		(39,504		)	—
Investment in subsidiaries	582,743		522,841		—		(1,105,584		)	—
Intercompany receivables	45,929		29,362		—		(75,291		)	—
Total assets	$	668,482	$	718,616	$	2,571,074	$	(1,382,443	)	$	2,575,729
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Drafts payable	$	—	$	—	$	26,759	$	—		$	26,759
Bank call loans	—		—		151,900		—			151,900
Payable to brokers, dealers and clearing organizations	—		—		172,362		—			172,362
Payable to customers	—		—		596,441		—			596,441
Securities sold under agreements to repurchase	—		—		432,912		—			432,912
Securities sold, but not yet purchased, at fair value	—		—		259,032		—			259,032
Liabilities held for sale	—		—		36,490		—			36,490
Accrued compensation	—		—		108,097		—			108,097
Accounts payable and other liabilities	3,020		35,089		72,258		—			110,367
Income tax payable	2,440		22,189		24,877		(49,506		)	—
Senior secured notes, net of debt issuance costs of $890	149,110		—		—		—			149,110
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities, net of deferred tax assets of $61,198	—		10		49,641		(39,504		)	10,147
Intercompany payables	—		62,204		13,087		(75,291		)	—
Total liabilities	154,570		119,492		2,056,414		(276,859		)	2,053,617
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	513,912		599,124		506,460		(1,105,584		)	513,912
Noncontrolling interest	—		—		8,200		—			8,200
Total stockholders' equity	513,912		599,124		514,660		(1,105,584		)	522,112
Total liabilities and stockholders' equity	$	668,482	$	718,616	$	2,571,074	$	(1,382,443	)	$	2,575,729

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	—		—		365,791		—			365,791
Receivable from customers, net of allowance for credit losses of $2,545	—		—		840,355		—			840,355
Income tax receivable	33,801		27,536		—		(49,106		)	12,231
Securities purchased under agreements to resell	—		—		206,499		—			206,499
Securities owned, including amounts pledged of $546,334, at fair value	—		1,183		733,648		—			734,831
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 $104,812	—		20,793		7,492		—			28,285
Assets held for sale	—		—		99,881		—			99,881
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	69		3,224		91,546		—			94,839
Deferred tax assets	317		330		40,456		(41,103		)	—
Investment in subsidiaries	577,320		532,651		—		(1,109,971		)	—
Intercompany receivables	60,187		13,185		—		(73,372		)	—
Total assets	$	672,601	$	714,046	$	2,697,467	$	(1,386,110	)	$	2,698,004
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
Liabilities held for sale	—		—		74,680		—			74,680
Accrued compensation	—		—		149,092		—			149,092
Accounts payable and other liabilities	3,235		35,812		69,590		—			108,637
Income tax payable	2,440		22,189		24,477		(49,106		)	—
Senior secured notes, net of debt issuance costs of $1,132	148,868		—		—		—			148,868
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities, net of deferred tax assets of $63,481	—		—		47,220		(41,103		)	6,117
Intercompany payables	—		62,204		11,168		(73,372		)	—
Total liabilities	154,543		120,205		2,174,313		(276,139		)	2,172,922
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	$	2,697,467	$	(1,386,110	)	$	2,698,004

Condensed Consolidating Statement of Operations

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2016
(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	92,591		$	—		$	92,591
Advisory fees	—			—		66,511			(407		)	66,104
Investment banking	—			—		18,881			—			18,881
Interest	—			2,556		12,016			(2,565		)	12,007
Principal transactions, net	—			22		7,555			—			7,577
Other	—			81		14,913			(80		)	14,914
Total revenue	—			2,659		212,467			(3,052		)	212,074
EXPENSES
Compensation and related expenses	356			—		141,365			—			141,721
Communications and technology	34			—		17,604			—			17,638
Occupancy and equipment costs	—			—		15,064			(80		)	14,984
Clearing and exchange fees	—			—		6,199			—			6,199
Interest	3,282			—		4,255			(2,565		)	4,972
Other	523			2		31,688			(407		)	31,806
Total expenses	4,195			2		216,175			(3,052		)	217,320
Income (loss) before income taxes	(4,195		)	2,657		(3,708		)	—			(5,246		)
Income taxes	(3,272		)	999		(354		)	—			(2,627		)
Net income (loss) from continuing operations	(923		)	1,658		(3,354		)	—			(2,619		)
Discontinued operations
Income from discontinued operations	—			—		15,366			—			15,366
Income taxes	—			—		6,036			—			6,036
Net income from discontinued operations	—			—		9,330			—			9,330
Equity in earnings of subsidiaries	6,111			4,453		—			(10,564		)	—
Net income	5,188			6,111		5,976			(10,564		)	6,711
Less net income attributable to noncontrolling interest, net of tax	—			—		1,523			—			1,523
Net income attributable to Oppenheimer Holdings Inc.	5,188			6,111		4,453			(10,564		)	5,188
Other comprehensive loss	—			—		(654		)	—			(654		)
Total comprehensive income	$	5,188		$	6,111	$	3,799		$	(10,564	)	$	4,534

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2016
(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	196,424		$	—		$	196,424
Advisory fees	—			—		132,890			(760		)	132,130
Investment banking	—			—		31,264			—			31,264
Interest	—			5,113		25,068			(5,132		)	25,049
Principal transactions, net	—			52		14,143			—			14,195
Other	—			159		27,967			(158		)	27,968
Total revenue	—			5,324		427,756			(6,050		)	427,030
EXPENSES
Compensation and related expenses	743			—		289,473			—			290,216
Communications and technology	62			—		35,256			—			35,318
Occupancy and equipment costs	—			—		30,045			(158		)	29,887
Clearing and exchange fees	—			—		13,120			—			13,120
Interest	6,563			—		8,408			(5,132		)	9,839
Other	1,196			5		60,795			(760		)	61,236
Total expenses	8,564			5		437,097			(6,050		)	439,616
Income (loss) before income taxes	(8,564		)	5,319		(9,341		)	—			(12,586		)
Income taxes	(4,986		)	2,003		(3,456		)	—			(6,439		)
Net income (loss) from continuing operations	(3,578		)	3,316		(5,885		)	—			(6,147		)
Discontinued operations
Income from discontinued operations	—			—		14,709			—			14,709
Income taxes	—			—		5,760			—			5,760
Net income from discontinued operations	—			—		8,949			—			8,949
Equity in earnings of subsidiaries	4,919			1,603		—			(6,522		)	—
Net income	1,341			4,919		3,064			(6,522		)	2,802
Less net income attributable to noncontrolling interest, net of tax	—			—		1,461			—			1,461
Net income attributable to Oppenheimer Holdings Inc.	1,341			4,919		1,603			(6,522		)	1,341
Other comprehensive income	—			—		219			—			219
Total comprehensive income	$	1,341		$	4,919	$	1,822		$	(6,522	)	$	1,560

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2015
(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	103,556		$	—		$	103,556
Advisory fees	—			—		72,654			(411		)	72,243
Investment banking	—			—		29,020			—			29,020
Interest	—			2,557		11,321			(2,565		)	11,313
Principal transactions, net	—			—		3,571			(30		)	3,541
Other	—			96		8,266			(76		)	8,286
Total revenue	—			2,653		228,388			(3,082		)	227,959
EXPENSES
Compensation and related expenses	263			—		153,542			—			153,805
Communications and technology	42			—		16,265			—			16,307
Occupancy and equipment costs	—			—		15,987			(76		)	15,911
Clearing and exchange fees	—			—		6,231			—			6,231
Interest	3,281					3,389			(2,565		)	4,105
Other	258			45		32,839			(441		)	32,701
Total expenses	3,844			45		228,253			(3,082		)	229,060
Income (loss) before income taxes	(3,844		)	2,608		135			—			(1,101		)
Income taxes	(1,521		)	923		998			—			400
Net income (loss) from continuing operations	(2,323		)	1,685		(863		)	—			(1,501		)
Discontinued operations
Income from discontinued operations	—			—		3,731			—			3,731
Income taxes	—			—		1,585			—			1,585
Net income from discontinued operations	—			—		2,146			—			2,146
Equity in earnings of subsidiaries	2,618			933		—			(3,551		)	—
Net income	295			2,618		1,283			(3,551		)	645
Less net income attributable to noncontrolling interest, net of tax	—			—		350			—			350
Net income attributable to Oppenheimer Holdings Inc.	295			2,618		933			(3,551		)	295
Other comprehensive income	—			—		1,317			—			1,317
Total comprehensive income	$	295		$	2,618	$	2,250		$	(3,551	)	$	1,612

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2015
(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	213,251	$	—		$	213,251
Advisory fees	—			—		144,074		(865		)	143,209
Investment banking	—			—		56,325		—			56,325
Interest	—			5,123		22,022		(5,129		)	22,016
Principal transactions, net	—			—		12,122		(84		)	12,038
Other	—			191		18,255		(151		)	18,295
Total revenue	—			5,314		466,049		(6,229		)	465,134
EXPENSES
Compensation and related expenses	575			—		314,054		—			314,629
Communications and technology	67			—		33,312		—			33,379
Occupancy and equipment costs	—			—		31,763		(151		)	31,612
Clearing and exchange fees	—			—		12,633		—			12,633
Interest	6,562			—		6,442		(5,129		)	7,875
Other	546			113		60,583		(949		)	60,293
Total expenses	7,750			113		458,787		(6,229		)	460,421
Income (loss) before income taxes	(7,750		)	5,201		7,262		—			4,713
Income taxes	(3,001		)	1,770		3,786		—			2,555
Net income (loss) from continuing operations	(4,749		)	3,431		3,476		—			2,158
Discontinued operations
Income from discontinued operations	—			—		7,768		—			7,768
Income taxes	—			—		3,160		—			3,160
Net income from discontinued operations	—			—		4,608		—			4,608
Equity in earnings of subsidiaries	10,763			7,332		—		(18,095		)	—
Net income	6,014			10,763		8,084		(18,095		)	6,766
Less net income attributable to noncontrolling interest, net of tax	—			—		752		—			752
Net income attributable to Oppenheimer Holdings Inc.	6,014			10,763		7,332		(18,095		)	6,014
Other comprehensive income	—			—		750		—			750
Total comprehensive income	$	6,014		$	10,763	$	8,082	$	(18,095	)	$	6,764

Condensed Consolidating Statement of Cash Flows

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016
(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	7,191		$	(2,061	)	$	(45,845	)	$	—	$	(40,715	)
Cash flows from investing activities:
Purchase of office facilities	—			—			(2,572		)	—		(2,572		)
Proceeds from sale of assets	—			—			43,252			—		43,252
Cash provided by investing activities	—			—			40,680			—		40,680
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(2,947		)	—			—			—		(2,947		)
Repurchase of Class A non-voting common stock for cancellation	(3,798		)	—			—			—		(3,798		)
Tax deficiency from share-based awards	(747		)	—			—			—		(747		)
Increase in bank call loans, net	—			—			51,700			—		51,700
Cash flow provided by (used in) financing activities	(7,492		)	—			51,700			—		44,208
Net increase (decrease) in cash and cash equivalents	(301		)	(2,061		)	46,535			—		44,173
Cash and cash equivalents, beginning of the period	907			2,586			59,871			—		63,364
Cash and cash equivalents, end of the period	$	606		$	525		$	106,406		$	—	$	107,537

OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015
(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	2,883		$	1,128	$	(130,399	)	$	—	$	(126,388	)
Cash flows from investing activities:
Purchase of office facilities	—			—		(1,913		)	—		(1,913		)
Cash used in investing activities	—			—		(1,913		)	—		(1,913		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(3,023		)	—		—			—		(3,023		)
Tax deficiency from share-based awards	(270		)	—		—			—		(270		)
Increase in bank call loans, net	—			—		118,100			—		118,100
Cash flow provided by (used in) financing activities	(3,293		)	—		118,100			—		114,807
Net increase (decrease) in cash and cash equivalents	(410		)	1,128		(14,212		)	—		(13,494		)
Cash and cash equivalents, beginning of the period	439			1,557		61,811			—		63,807
Cash and cash equivalents, end of the period	$	29		$	2,685	$	47,599		$	—	$	50,313