Segment Information

12 Months Ended

Dec. 31, 2016

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; 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 Commercial Mortgage Banking segment was discontinued during the second quarter of 2016. See Note 3 for further details.

The table below presents information about the reported revenue and income (loss) before income taxes from continuing operations of the Company for the years ended December 31, 2016, 2015 and 2014. 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,
	2016			2015			2014
Revenue
Private client (1)	$	504,192		$	521,526		$	582,364
Asset management (1)	92,852			97,121			99,964
Capital markets	254,933			279,589			298,597
Corporate/Other	5,802			(435		)	210
Total	$	857,779		$	897,801		$	981,135
Income (loss) before income taxes
Private client (1)	$	66,072		$	59,016		$	60,116
Asset management (1)	31,412			33,133			33,707
Capital markets	(17,713		)	5,167			17,819
Corporate/Other	(101,663		)	(99,744		)	(94,452		)
Total	$	(21,892	)	$	(2,428	)	$	17,190

(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, 2016, 2015 and 2014 was as follows:

(Expressed in thousands)
	Year Ended December 31,
	2016		2015		2014
Americas	$	815,231	$	853,221	$	932,032
Europe/Middle East	39,048		40,603		43,087
Asia	3,500		3,977		6,016
Total	$	857,779	$	897,801	$	981,135