Supplemental Guarantor Consolidated Financial Statements (Tables)

6 Months Ended

Jun. 30, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Income Statement [Table Text Block]

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2018

(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	166,257		$	—		$	166,257
Advisory fees	—			—		155,463			(645		)	154,818
Investment banking	—			—		56,114			—			56,114
Bank deposit sweep income	—			—		54,150			—			54,150
Interest	3			4,120		25,317			(4,157		)	25,283
Principal transactions, net	—			—		9,168			(42		)	9,126
Other	—			191		11,336			(189		)	11,338
Total revenue	3			4,311		477,805			(5,033		)	477,086
EXPENSES
Compensation and related expenses	848			—		304,127			—			304,975
Communications and technology	88			—		36,597			—			36,685
Occupancy and equipment costs	—			—		30,518			(189		)	30,329
Clearing and exchange fees	—			—		11,876			—			11,876
Interest	6,750			—		17,279			(4,157		)	19,872
Other	665			1,102		50,143			(687		)	51,223
Total expenses	8,351			1,102		450,540			(5,033		)	454,960
Income (loss) before income taxes	(8,348		)	3,209		27,265			—			22,126
Income taxes	(2,105		)	633		8,050			—			6,578
Net income (loss) from continuing operations	(6,243		)	2,576		19,215			—			15,548
Equity in earnings of subsidiaries	21,803			19,227		—			(41,030		)	—
Net income	15,560			21,803		19,215			(41,030		)	15,548
Less net loss attributable to non-controlling interest, net of tax	—			—		(12		)	—			(12		)
Net income attributable to Oppenheimer Holdings Inc.	15,560			21,803		19,227			(41,030		)	15,560
Other comprehensive loss	—			—		(979		)	—			(979		)
Total comprehensive income	$	15,560		$	21,803	$	18,248		$	(41,030	)	$	14,581

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2017

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—		$	170,569		$	—		$	170,569
Advisory fees	—			—			142,855			(663		)	142,192
Investment banking	—			—			36,407			(3,000		)	33,407
Bank deposit sweep income	—			—			31,846			—			31,846
Interest	—			5,138			23,407			(5,151		)	23,394
Principal transactions, net	—			15			10,660			—			10,675
Other	—			178			17,061			(177		)	17,062
Total revenue	—			5,331			432,805			(8,991		)	429,145
EXPENSES
Compensation and related expenses	705			—			285,830			—			286,535
Communications and technology	79			—			36,026			—			36,105
Occupancy and equipment costs	—			—			30,610			(177		)	30,433
Clearing and exchange fees	—			—			11,770			—			11,770
Interest	6,990			—			10,371			(5,151		)	12,210
Other	4,249			267			59,901			(3,663		)	60,754
Total expenses	12,023			267			434,508			(8,991		)	437,807
Income (loss) before income taxes	(12,023		)	5,064			(1,703		)	—			(8,662		)
Income taxes	(4,626		)	1,876			789			—			(1,961		)
Net income (loss) from continuing operations	(7,397		)	3,188			(2,492		)	—			(6,701		)
Discontinued operations
Income from discontinued operations	—			—			1,065			—			1,065
Income taxes	—			—			425			—			425
Net income from discontinued operations	—			—			640			—			640
Equity in earnings of subsidiaries	1,231			(1,957		)	—			726			—
Net income (loss)	(6,166		)	1,231			(1,852		)	726			(6,061		)
Less net income attributable to non-controlling interest, net of tax	—			—			105			—			105
Net income (loss) attributable to Oppenheimer Holdings Inc.	(6,166		)	1,231			(1,957		)	726			(6,166		)
Other comprehensive income	—			—			2,204			—			2,204
Total comprehensive income (loss)	$	(6,166	)	$	1,231		$	247		$	726		$	(3,962	)

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED JUNE 30, 2018

(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor subsidiaries			Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	82,850		$	—		$	82,850
Advisory fees	—			—		77,589			(319		)	77,270
Investment banking	—			—		27,904			—			27,904
Bank deposit sweep income	—			—		28,853			—			28,853
Interest	3			2,060		13,070			(2,077		)	13,056
Principal transactions, net	—			—		6,409			(9		)	6,400
Other	—			95		6,222			(94		)	6,223
Total revenue	3			2,155		242,897			(2,499		)	242,556
EXPENSES
Compensation and related expenses	522			—		151,349			—			151,871
Communications and technology	49			—		17,948			—			17,997
Occupancy and equipment costs	—			—		14,995			(94		)	14,901
Clearing and exchange fees	—			—		5,780			—			5,780
Interest	3,375			—		9,611			(2,077		)	10,909
Other	278			849		27,798			(328		)	28,597
Total expenses	4,224			849		227,481			(2,499		)	230,055
Income (loss) before income taxes	(4,221		)	1,306		15,416			—			12,501
Income taxes	(1,065		)	369		4,358			—			3,662
Net income (loss) from continuing operations	(3,156		)	937		11,058			—			8,839
Equity in earnings of subsidiaries	12,011			11,074		—			(23,085		)	—
Net income	8,855			12,011		11,058			(23,085		)	8,839
Less net loss attributable to non-controlling interest, net of tax	—			—		(16		)	—			(16		)
Net income attributable to Oppenheimer Holdings Inc.	8,855			12,011		11,074			(23,085		)	8,855
Other comprehensive loss	—			—		(837		)	—			(837		)
Total comprehensive income	$	8,855		$	12,011	$	10,237		$	(23,085	)	$	8,018

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED JUNE 30, 2017

(Expressed in thousands)	Parent			Guarantor subsidiaries		Non-guarantor subsidiaries		Eliminations			Consolidated
REVENUES
Commissions	$	—		$	—	$	83,852	$	—		$	83,852
Advisory fees	—			—		73,126		(343		)	72,783
Investment banking	—			—		18,386		(3,000		)	15,386
Bank deposit sweep income	—			—		17,720		—			17,720
Interest	—			2,559		12,845		(2,575		)	12,829
Principal transactions, net	—			9		5,293		—			5,302
Other	—			90		8,011		(89		)	8,012
Total revenue	—			2,658		219,233		(6,007		)	215,884
EXPENSES
Compensation and related expenses	367			—		142,290		—			142,657
Communications and technology	49			—		18,350		—			18,399
Occupancy and equipment costs	—			—		15,250		(89		)	15,161
Clearing and exchange fees	—			—		5,916		—			5,916
Interest	3,709			—		5,720		(2,575		)	6,854
Other	3,922			195		27,760		(3,343		)	28,534
Total expenses	8,047			195		215,286		(6,007		)	217,521
Income (loss) before income taxes	(8,047		)	2,463		3,947		—			(1,637		)
Income taxes	(3,098		)	956		1,868		—			(274		)
Net income (loss) from continuing operations	(4,949		)	1,507		2,079		—			(1,363		)
Discontinued operations
Income from discontinued operations	—			—		89		—			89
Income taxes	—			—		36		—			36
Net income from discontinued operations	—			—		53		—			53
Equity in earnings of subsidiaries	3,630			2,123		—		(5,753		)	—
Net income (loss)	(1,319		)	3,630		2,132		(5,753		)	(1,310		)
Less net income attributable to non-controlling interest, net of tax	—			—		9		—			9
Net income (loss) attributable to Oppenheimer Holdings Inc.	(1,319		)	3,630		2,123		(5,753		)	(1,319		)
Other comprehensive income	—			—		780		—			780
Total comprehensive income (loss)	$	(1,319	)	$	3,630	$	2,903	$	(5,753	)	$	(539	)

Condensed Consolidating Balance Sheet

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2018

(Expressed in thousands)	Parent		Guarantor subsidiaries		Non-guarantor subsidiaries		Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	668	$	4,588	$	33,705	$	—		$	38,961
Deposits with clearing organizations	—		—		56,864		—			56,864
Receivable from brokers, dealers and clearing organizations	—		—		204,527		—			204,527
Receivable from customers, net of allowance for credit losses of $848	—		—		835,708		—			835,708
Income tax receivable	46,865		24,904		—		(68,951		)	2,818
Securities purchased under agreements to resell	—		—		6,738		—			6,738
Securities owned, including amounts pledged of $692,286, at fair value	—		1,369		1,019,035		—			1,020,404
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,788 and $8,051, respectively	—		—		42,410		—			42,410
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $85,815	—		20,883		7,111		—			27,994
Subordinated loan receivable	—		112,558		—		(112,558		)	—
Intangible assets	—		400		31,700		—			32,100
Goodwill	—		—		137,889		—			137,889
Other assets	120		2,580		112,167		—			114,867
Deferred tax assets	122		118		18,641		(18,881		)	—
Investment in subsidiaries	643,205		526,774		—		(1,169,979		)	—
Intercompany receivables	48,843		49,627		—		(98,470		)	—
Total assets	$	739,823	$	743,801	$	2,506,495	$	(1,468,839	)	$	2,521,280
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Drafts payable	$	—	$	—	$	21,632	$	—		$	21,632
Bank call loans	—		—		107,500		—			107,500
Payable to brokers, dealers and clearing organizations	—		—		282,542		—			282,542
Payable to customers	—		—		373,664		—			373,664
Securities sold under agreements to repurchase	—		—		599,151		—			599,151
Securities sold but not yet purchased, at fair value	—		—		162,042		—			162,042
Accrued compensation	—		—		128,985		—			128,985
Accounts payable and other liabilities	125		33,496		60,732		—			94,353
Income tax payable	2,440		22,189		44,322		(68,951		)	—
Senior secured notes, net of debt issuance cost of $1,034	198,966		—		—		—			198,966
Subordinated indebtedness	—		—		112,558		(112,558		)	—
Deferred tax liabilities	—		—		32,685		(18,881		)	13,804
Intercompany payables	—		28,141		70,329		(98,470		)	—
Total liabilities	201,531		83,826		1,996,142		(298,860		)	1,982,639
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	538,292		659,975		510,004		(1,169,979		)	538,292
Non-controlling interest	—		—		349		—			349
Total stockholders' equity	538,292		659,975		510,353		(1,169,979		)	538,641
Total liabilities and stockholders' equity	$	739,823	$	743,801	$	2,506,495	$	(1,468,839	)	$	2,521,280

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 costs 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
Non-controlling 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

Condensed Consolidating Statement of Cash Flows

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2018

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	(1,417	)	$	1,272		$	11,456		$	—	$	11,311
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—			(3,947		)	—		(3,947		)
Purchase of tangible assets	—			(400		)	—			—		(400		)
Cash used in investing activities	—			(400		)	(3,947		)	—		(4,347		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(2,913		)	—			—			—		(2,913		)
Payments for employee taxes withheld related to vested share-based awards	(2,444		)	—			—			—		(2,444		)
Increase in bank call loans, net	—			—			(10,800		)	—		(10,800		)
Cash used in financing activities	(5,357		)	—			(10,800		)	—		(16,157		)
Net increase (decrease) in cash and cash equivalents	(6,774		)	872			(3,291		)	—		(9,193		)
Cash and cash equivalents, beginning of the period	7,442			3,716			36,996			—		48,154
Cash and cash equivalents, end of the period	$	668		$	4,588		$	33,705		$	—	$	38,961

OPPENHEIMER HOLDINGS INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2017

(Expressed in thousands)	Parent			Guarantor subsidiaries			Non-guarantor subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Cash provided by (used in) operating activities	$	34,273		$	(7,052	)	$	(97,606	)	$	—	$	(70,385	)
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements	—			—			(2,075		)	—		(2,075		)
Proceeds from settlement of company-owned life insurance	—			—			1,194			—		1,194
Cash used in investing activities	—			—			(881		)	—		(881		)
Cash flows from financing activities:
Cash dividends paid on Class A non-voting and Class B voting common stock	(2,940		)	—			—			—		(2,940		)
Cash dividends paid to non-controlling interest	—			—			(816		)	—		(816		)
Repurchase of Class A non-voting common stock for cancellation	(5,159		)	—			—			—		(5,159		)
Payments for employee taxes withheld related to vested share-based awards	(2,203		)	—			—			—		(2,203		)
Issuance of senior secured notes	200,000			—			—			—		200,000
Redemption of senior secured notes	(150,000		)	—			—			—		(150,000		)
Debt issuance costs	(547		)	—			—			—		(547		)
Increase in bank call loans, net	—			—			84,600			—		84,600
Cash provided by financing activities	39,151			—			83,784			—		122,935
Net increase (decrease) in cash and cash equivalents	73,424			(7,052		)	(14,703		)	—		51,669
Cash and cash equivalents, beginning of the period	229			10,284			54,400			—		64,913
Cash and cash equivalents, end of the period	$	73,653		$	3,232		$	39,697		$	—	$	116,582