Supplemental Guarantor Consolidated Financial Statements (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2017

(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	7,442	$	3,716	$	36,996	$	—		$	48,154
Deposits with clearing organizations	—		—		42,222		—			42,222
Receivable from brokers, dealers and clearing organizations	—		—		187,115		—			187,115
Receivable from customers, net of allowance for credit losses of $769	—		—		848,226		—			848,226
Income tax receivable	45,998		26,025		—		(69,084		)	2,939
Securities purchased under agreements to resell	—		—		658		—			658
Securities owned, including amounts pledged of $655,683, at fair value	—		1,386		925,211		—			926,597
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,705 and $7,975, respectively	—		—		40,520		—			40,520
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $82,826	—		20,221		6,966		—			27,187
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	133		2,573		142,604		—			145,310
Deferred tax assets	3,502		—		18,463		(21,965		)	—
Investment in subsidiaries	622,824		507,747		—		(1,130,571		)	—
Intercompany receivables	52,149		83,437		—		(135,586		)	—
Total assets	$	732,048	$	757,663	$	2,418,570	$	(1,469,764	)	$	2,438,517
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Drafts payable	$	—	$	—	$	42,412	$	—		$	42,412
Bank call loans	—		—		118,300		—			118,300
Payable to brokers, dealers and clearing organizations	—		—		211,483		—			211,483
Payable to customers	—		—		385,907		—			385,907
Securities sold under agreements to repurchase	—		—		586,478		—			586,478
Securities sold but not yet purchased, at fair value	—		—		94,486		—			94,486
Accrued compensation	—		—		173,116		—			173,116
Accounts payable and other liabilities	7,221		33,994		51,280		—			92,495
Income tax payable	2,440		22,189		44,455		(69,084		)	—
Senior secured notes, net of debt issuance cost of $1,163	198,837		—		—		—			198,837
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities	—		17		33,040		(21,965		)	11,092
Intercompany payables	—		62,163		73,423		(135,586		)	—
Total liabilities	208,498		118,363		1,926,938		(339,193		)	1,914,606
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	523,550		639,300		491,271		(1,130,571		)	523,550
Noncontrolling interest	—		—		361		—			361
Total stockholders' equity	523,550		639,300		491,632		(1,130,571		)	523,911
Total liabilities and stockholders' equity	$	732,048	$	757,663	$	2,418,570	$	(1,469,764	)	$	2,438,517

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
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		—		31,700		—			31,700
Goodwill	—		—		137,889		—			137,889
Other assets	71		2,598		104,992		—			107,661
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
Accrued compensation	—		—		145,053		—			145,053
Accounts payable and other liabilities	2,868		34,920		58,769		—			96,557
Income tax payable	2,440		22,189		39,840		(64,469		)	—
Senior secured notes, net of debt issuance costs 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

Condensed Consolidating Statement of Operations

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2017

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor Subsidiaries		Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—		$	336,620	$	—		$	336,620
Advisory fees	—			1,752			323,114		(4,120		)	320,746
Investment banking	—			—			81,215		(3,000		)	78,215
Interest	—			9,589			48,548		(9,639		)	48,498
Principal transactions, net	—			17			23,256		—			23,273
Other	22			361			112,962		(359		)	112,986
Total revenue	22			11,719			925,715		(17,118		)	920,338
EXPENSES
Compensation and related expenses	1,237			—			600,901		—			602,138
Communications and technology	160			—			71,818		—			71,978
Occupancy and equipment costs	—			—			61,523		(359		)	61,164
Clearing and exchange fees	—			—			23,545		—			23,545
Interest	13,740			—			24,253		(9,639		)	28,354
Other	4,969			1,382			114,192		(7,120		)	113,423
Total expenses	20,106			1,382			896,232		(17,118		)	900,602
Income (loss) before income taxes	(20,084		)	10,337			29,483		—			19,736
Income taxes	(7,110		)	(12,655		)	17,631		—			(2,134		)
Net income (loss) from continuing operations	(12,974		)	22,992			11,852		—			21,870
Discontinued operations
Income from discontinued operations	—			—			2,071		—			2,071
Income taxes	—			—			941		—			941
Net income from discontinued operations	—			—			1,130		—			1,130
Equity in earnings of subsidiaries	35,790			12,798			—		(48,588		)	—
Net income	22,816			35,790			12,982		(48,588		)	23,000
Less net income attributable to noncontrolling interest, net of tax	—			—			184		—			184
Net income attributable to Oppenheimer Holdings Inc.	22,816			35,790			12,798		(48,588		)	22,816
Other comprehensive income	—			—			2,263		—			2,263
Total comprehensive income	$	22,816		$	35,790		$	15,061	$	(48,588	)	$	25,079

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

Condensed Consolidating Statement of Cash Flows

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2017

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	(25,979	)	$	(6,568	)	$	16,411		$	—	$	(16,136	)
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—			(5,611		)	—		(5,611		)
Proceeds from the settlement of Company-owned life insurance	—			—			1,744			—		1,744
Cash used in investing activities	—			—			(3,867		)	—		(3,867		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,836		)	—			—			—		(5,836		)
Cash dividends paid to noncontrolling interest	—			—			(2,448		)	—		(2,448		)
Issuance of Class A non-voting common stock	26			—			—			—		26
Repurchase of Class A non-voting common stock for cancellation	(7,464		)	—			—			—		(7,464		)
Payments of employee taxes withheld related to vested share-based awards	(2,237		)	—			—			—		(2,237		)
Issuance of senior secured notes	200,000			—			—			—		200,000
Redemption of senior secured notes	(150,000		)	—			—			—		(150,000		)
Debt issuance costs	(1,297		)	—			—			—		(1,297		)
Decrease in bank call loans, net	—			—			(27,500		)	—		(27,500		)
Cash provided by (used in) in financing activities	33,192			—			(29,948		)	—		3,244
Net increase (decrease) in cash and cash equivalents	7,213			(6,568		)	(17,404		)	—		(16,759		)
Cash and cash equivalents, beginning of the year	229			10,284			54,400			—		64,913
Cash and cash equivalents, end of the year	$	7,442		$	3,716		$	36,996		$	—	$	48,154

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	$	10,485		$	7,698	$	(85,048	)	$	—	$	(66,865	)
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		)
Payments of employee taxes withheld related to vested share-based awards	(1,341		)	—		—			—		(1,341		)
Increase in bank call loans, net	—			—		45,600			—		45,600
Cash provided by (used in) financing activities	(11,163		)	—		39,860			—		28,697
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	$	16,409		$	1,029	$	(36,851	)	$	—	$	(19,413	)
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		)
Payments of employee taxes withheld related to vested share-based awards	(1,683		)	—		—			—		(1,683		)
Redemption of senior secured notes	—			—		—			—		—
Decrease in bank call loans, net	—			—		40,800			—		40,800
Cash provided by (used in) financing activities	(15,941		)	—		40,800			—		24,859
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