XML 22 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Earnings Per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings per share
Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("Class B Stock") outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase the Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method.
Earnings per share have been calculated as follows:
(Expressed in thousands, except number of shares and per share amounts)
 
 
 
 
 
 
 
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Basic weighted average number of shares outstanding
$
13,213,139

 
$
13,366,863

 
$
13,290,399

 
$
13,371,296

Net dilutive effect of share-based awards, treasury method (1)
550,377

 
—

 
499,737

 
—

Diluted weighted average number of shares outstanding
$
13,763,516

 
$
13,366,863

 
$
13,790,136

 
$
13,371,296

 
 
 
 
 
 
 
 
Net income (loss) from continuing operations
$
7,403

 
$
(1,059
)
 
$
702

 
$
(7,206
)
Net income from discontinued operations
461

 
413

 
1,101

 
9,362

Net income (loss)
7,864


(646
)

1,803


2,156

Net income attributable to noncontrolling interest, net of tax
75

 
66

 
180

 
1,527

Net income (loss) attributable to Oppenheimer Holdings Inc.
$
7,789


$
(712
)

$
1,623


$
629

 
 
 
 
 
 
 
 
Basic net income (loss) per share attributable to Oppenheimer Holdings Inc.
 
 
 
 
 
 
 
Continuing operations
$
0.56

 
$
(0.08
)
 
$
0.05

 
$
(0.54
)
Discontinued operations (2)
0.03

 
0.03

 
0.07

 
0.59

Net income (loss) per share
$
0.59


$
(0.05
)

$
0.12


$
0.05

 
 
 
 
 
 
 
 
Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc.
 
 
 
 
 
 
 
Continuing operations
$
0.54

 
$
(0.08
)
 
$
0.05

 
$
(0.54
)
Discontinued operations (2)
0.03

 
0.03

 
0.07

 
0.59

Net income (loss) per share
$
0.57


$
(0.05
)

$
0.12


$
0.05

 
(1)
For both the three and nine months ended September 30, 2017, the diluted net income (loss) per share computation does not include the anti-dilutive effect of 15,450 shares of Class A Stock granted under share-based compensation arrangements (1,249,063 shares for the three and nine months ended September 30, 2016).
(2)
Represents net income from discontinued operations less net income attributable to noncontrolling interest, net of tax divided by weighted average number of shares outstanding.