Supplemental Guarantor Consolidated Financial Statements (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2016



(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	229	$	10,284	$	54,400	$	—		$	64,913
Deposits with clearing organizations	—		—		38,185		—			38,185
Receivable from brokers, dealers and clearing organizations	—		—		214,934		—			214,934
Receivable from customers, net of allowance for credit losses of $794	—		—		847,386		—			847,386
Income tax receivable	41,996		28,289		—		(64,469		)	5,816
Securities purchased under agreements to resell	—		—		24,006		—			24,006
Securities owned, including amounts pledged of $438,385, at fair value	—		23,227		683,881		—			707,108
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively	—		—		30,099		—			30,099
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $84,073	—		21,963		5,270		—			27,233
Assets held for sale	—		—		5,188		—			5,188
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	71		2,598		99,804		—			102,473
Deferred tax assets	394		309		37,961		(38,664		)	—
Investment in subsidiaries	584,767		483,623		—		(1,068,390		)	—
Intercompany receivables	37,906		37,914		—		(75,820		)	—
Total assets	$	665,363	$	720,765	$	2,210,703	$	(1,359,901	)	$	2,236,930
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Drafts payable	$	—	$	—	$	39,228	$	—		$	39,228
Bank call loans	—		—		145,800		—			145,800
Payable to brokers, dealers and clearing organizations	—		—		221,389		—			221,389
Payable to customers	—		—		449,946		—			449,946
Securities sold under agreements to repurchase	—		—		378,084		—			378,084
Securities sold but not yet purchased, at fair value	—		—		85,050		—			85,050
Liabilities held for sale	—		—		1,217		—			1,217
Accrued compensation	—		—		145,053		—			145,053
Accounts payable and other liabilities	2,868		34,920		57,552		—			95,340
Income tax payable	2,440		22,189		39,840		(64,469		)	—
Senior secured notes, net of debt issuance cost of $648	149,352		—		—		—			149,352
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities	—		7		51,794		(38,664		)	13,137
Intercompany payables	—		62,205		13,615		(75,820		)	—
Total liabilities	154,660		119,321		1,741,126		(291,511		)	1,723,596
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	510,703		601,444		466,946		(1,068,390		)	510,703
Noncontrolling interest	—		—		2,631		—			2,631
Total stockholders' equity	510,703		601,444		469,577		(1,068,390		)	513,334
Total liabilities and stockholders' equity	$	665,363	$	720,765	$	2,210,703	$	(1,359,901	)	$	2,236,930

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
Furniture, equipment and leasehold improvements, 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	—		—		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 YEAR ENDED DECEMBER 31, 2016



(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—		$	377,317		$	—		$	377,317
Advisory fees	—			1,571			271,763			(4,215		)	269,119
Investment banking	—			—			81,011			—			81,011
Interest	—			10,242			47,804			(10,397		)	47,649
Principal transactions, net	—			16			20,465			—			20,481
Other	—			326			62,201			(325		)	62,202
Total revenue	—			12,155			860,561			(14,937		)	857,779
EXPENSES
Compensation and related expenses	1,241			—			583,469			—			584,710
Communications and technology	124			—			70,266			—			70,390
Occupancy and equipment costs	—			—			61,116			(325		)	60,791
Clearing and exchange fees	—			—			25,126			—			25,126
Interest	13,125			—			16,709			(10,397		)	19,437
Other	1,887			1,284			120,261			(4,215		)	119,217
Total expenses	16,377			1,284			876,947			(14,937		)	879,671
Income (loss) before income taxes	(16,377		)	10,871			(16,386		)	—			(21,892		)
Income taxes	(8,296		)	3,325			(7,291		)	—			(12,262		)
Net income (loss) from continuing operations	(8,081		)	7,546			(9,095		)	—			(9,630		)

Discontinued operations
Income from discontinued operations	—			—			17,339			—			17,339
Income taxes	—			—			7,218			—			7,218
Net income from discontinued operations	—			—			10,121			—			10,121

Equity in earnings of subsidiaries	6,920			(626		)	—			(6,294		)	—
Net income (loss)	(1,161		)	6,920			1,026			(6,294		)	491
Less net income attributable to noncontrolling interest, net of tax	—			—			1,652			—			1,652
Net income (loss) attributable to Oppenheimer Holdings Inc.	(1,161		)	6,920			(626		)	(6,294		)	(1,161		)
Other comprehensive income	—			—			220			—			220
Total comprehensive income (loss)	$	(1,161	)	$	6,920		$	(406	)	$	(6,294	)	$	(941	)

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2015



(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	417,559	$	—		$	417,559
Advisory fees	—			1,296		282,633		(3,682		)	280,247
Investment banking	—			—		102,540		—			102,540
Interest	—			10,237		49,056		(10,261		)	49,032
Principal transactions, net	—			—		15,244		(64		)	15,180
Other	—			370		33,173		(300		)	33,243
Total revenue	—			11,903		900,205		(14,307		)	897,801
EXPENSES
Compensation and related expenses	1,185			—		609,635		—			610,820
Communications and technology	142			—		66,407		—			66,549
Occupancy and equipment costs	—			—		63,142		(300		)	62,842
Clearing and exchange fees	—			—		26,022		—			26,022
Interest	13,125			—		13,465		(10,261		)	16,329
Other	1,663			892		118,858		(3,746		)	117,667
Total expenses	16,115			892		897,529		(14,307		)	900,229
Income (loss) before income taxes	(16,115		)	11,011		2,676		—			(2,428		)
Income taxes	(6,030		)	5,553		883		—			406
Net income (loss) from continuing operations	(10,085		)	5,458		1,793		—			(2,834		)

Discontinued operations
Income from discontinued operations	—			—		9,139		—			9,139
Income taxes	—			—		3,407		—			3,407
Net income from discontinued operations	—			—		5,732		—			5,732

Equity in earnings of subsidiaries	12,047			6,589		—		(18,636		)	—
Net income	1,962			12,047		7,525		(18,636		)	2,898
Less net income attributable to noncontrolling interest, net of tax	—			—		936		—			936
Net income attributable to Oppenheimer Holdings Inc.	1,962			12,047		6,589		(18,636		)	1,962
Other comprehensive income	—			—		17		—			17
Total comprehensive income	$	1,962		$	12,047	$	6,606	$	(18,636	)	$	1,979

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2014



(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor Subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	469,829		$	—		$	469,829
Advisory fees	—			1,139		283,785			(3,244		)	281,680
Investment banking	—			—		125,598			—			125,598
Interest	—			10,482		47,454			(10,431		)	47,505
Principal transactions, net	—			164		27,351			—			27,515
Other	—			477		28,956			(425		)	29,008
Total revenue	—			12,262		982,973			(14,100		)	981,135
EXPENSES
Compensation and related expenses	1,047			—		653,349			—			654,396
Communications and technology	145			—		66,605			—			66,750
Occupancy and equipment costs	—			—		63,096			(425		)	62,671
Clearing and exchange fees	—			—		24,709			—			24,709
Interest	14,401			—		12,986			(10,431		)	16,956
Other	4,626			733		136,348			(3,244		)	138,463
Total expenses	20,219			733		957,093			(14,100		)	963,945
Income (loss) before income taxes	(20,219		)	11,529		25,880			—			17,190
Income taxes	(7,917		)	3,971		16,080			—			12,134
Net income (loss) from continuing operations	(12,302		)	7,558		9,800			—			5,056

Discontinued operations
Income from discontinued operations	—			—		8,546			—			8,546
Income taxes	—			—		4,041			—			4,041
Net income from discontinued operations	—			—		4,505			—			4,505

Equity in earnings of subsidiaries	21,128			13,570		—			(34,698		)	—
Net income	8,826			21,128		14,305			(34,698		)	9,561
Less net income attributable to noncontrolling interest, net of tax	—			—		735			—			735
Net income attributable to Oppenheimer Holdings Inc.	8,826			21,128		13,570			(34,698		)	8,826
Other comprehensive loss	—			—		(2,627		)	—			(2,627		)
Total comprehensive income	$	8,826		$	21,128	$	10,943		$	(34,698	)	$	6,199

Condensed Consolidating Statement of Cash Flows

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 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	$	9,884		$	7,698	$	(85,048	)	$	—	$	(67,466	)
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—		(5,731		)	—		(5,731		)
Proceeds from sale of assets	—			—		45,448			—		45,448
Cash provided by investing activities	—			—		39,717			—		39,717
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,887		)	—		—			—		(5,887		)
Cash dividends paid to noncontrolling interest	—			—		(5,740		)	—		(5,740		)
Repurchase of Class A non-voting common stock for cancellation	(3,935		)	—		—			—		(3,935		)
Tax deficiency from share-based awards	(740		)	—		—			—		(740		)
Increase in bank call loans, net	—			—		45,600			—		45,600
Cash provided by (used in) in financing activities	(10,562		)	—		39,860			—		29,298
Net increase (decrease) in cash and cash equivalents	(678		)	7,698		(5,471		)	—		1,549
Cash and cash equivalents, beginning of the year	907			2,586		59,871			—		63,364
Cash and cash equivalents, end of the year	$	229		$	10,284	$	54,400		$	—	$	64,913

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 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	$	15,003		$	1,029	$	(36,851	)	$	—	$	(20,819	)
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—		(5,889		)	—		(5,889		)
Cash used in investing activities	—			—		(5,889		)	—		(5,889		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(6,008		)	—		—			—		(6,008		)
Repurchase of Class A non-voting common stock for cancellation	(8,250		)	—		—			—		(8,250		)
Tax deficiency from share-based awards	(277		)	—		—			—		(277		)
Increase in bank call loans, net	—			—		40,800			—		40,800
Cash provided by (used in) financing activities	(14,535		)	—		40,800			—		26,265
Net increase (decrease) in cash and cash equivalents	468			1,029		(1,940		)	—		(443		)
Cash and cash equivalents, beginning of the year	439			1,557		61,811			—		63,807
Cash and cash equivalents, end of the year	$	907		$	2,586	$	59,871		$	—	$	63,364

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2014



(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	49,595		$	(29,344	)	$	58,064		$	—	$	78,315
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—			(4,398		)	—		(4,398		)
Cash used in investing activities	—			—			(4,398		)	—		(4,398		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,983		)	—			—			—		(5,983		)
Issuance of Class A non-voting common stock	185			—			—			—		185
Tax benefit from share-based awards	1,194			—			—			—		1,194
Redemption of senior secured notes	(45,000		)	—			—			—		(45,000		)
Decrease in bank call loans, net	—			—			(58,800		)	—		(58,800		)
Cash used in financing activities	(49,604		)	—			(58,800		)	—		(108,404		)
Net decrease in cash and cash equivalents	(9		)	(29,344		)	(5,134		)	—		(34,487		)
Cash and cash equivalents, beginning of the year	448			30,901			66,945			—		98,294
Cash and cash equivalents, end of the year	$	439		$	1,557		$	61,811		$	—	$	63,807