Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Reported Revenue and Profit Before Income Taxes

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, 2018, 2017 and 2016. 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,
	2018			2017			2016
Revenue
Private client ⁽¹⁾	$	617,871		$	592,753		$	504,192
Asset management ⁽¹⁾	71,696			89,896			92,852
Capital markets	272,719			231,632			254,933
Corporate/Other	(4,132		)	6,057			5,802
Total	$	958,154		$	920,338		$	857,779
Income (loss) before income taxes
Private client ⁽¹⁾	$	149,097		$	128,840		$	66,072
Asset management ⁽¹⁾	18,590			26,685			31,412
Capital markets	(13,416		)	(39,978		)	(17,713		)
Corporate/Other	(109,418		)	(95,811		)	(101,663		)
Total	$	44,853		$	19,736		$	(21,892	)

(1)

Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees were allocated 22.5% to the Asset Management and 77.5% to the Private Client segments. Starting January 1, 2017, the Company determined it was appropriate to change the allocation to 10.0% to the Asset Management and 90.0% to the Private Client segments due to changes in the mix of the business over time and costs associated with it.

Revenue Classified by Major Geographic Areas

Revenue, classified by the major geographic areas in which it was earned for the years ended December 31, 2018, 2017 and 2016 was as follows:



(Expressed in thousands)
	Year Ended December 31,
	2018		2017		2016
Americas	$	925,127	$	880,602	$	815,231
Europe/Middle East	29,292		36,364		39,048
Asia	3,735		3,372		3,500
Total	$	958,154	$	920,338	$	857,779