XML 82 R72.htm IDEA: XBRL DOCUMENT v3.20.2
Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Commissions $ 101,636 $ 80,896 $ 204,885 $ 160,305
Investment Advisory Fee Revenue 75,981 80,707 162,145 154,354
Investment banking 46,186 32,006 71,914 60,049
Sweep Interest Income from FDIC-Insured Bank Deposits 7,122 31,830 25,948 65,798
Interest 6,220 13,550 17,110 26,277
Principal transactions, net 12,064 3,045 11,196 14,483
Other 15,521 8,901 6,302 21,439
Total revenue 264,730 250,935 499,500 502,705
EXPENSES        
Compensation and related expenses 179,594 155,783 337,270 316,138
Communications and technology 21,324 20,499 41,215 40,585
Occupancy and equipment costs 15,334 15,573 31,412 30,846
Clearing and exchange fees 6,191 5,678 11,850 11,010
Interest 2,890 13,192 9,440 26,178
Other 16,133 22,819 34,826 44,505
Total expenses 241,466 233,544 466,013 469,262
Operating Income (Loss) 23,264 17,391 33,487 33,443
Income Tax Expense (Benefit) 5,615 5,016 8,020 9,874
Net Income (Loss) before equity in Earnings of Subsidiaries 17,649 12,375 25,467 23,569
Equity in earnings of subsidiaries 0 0 0 0
Net income attributable to Oppenheimer Holdings Inc. 17,649 12,375 25,467 23,569
Other comprehensive income 480 361 (57) 924
Comprehensive income 18,129 12,736 25,410 24,493
Eliminations        
REVENUES        
Commissions 0 0 0 0
Investment Advisory Fee Revenue (349) (360) (703) (695)
Investment banking 0 0 0 0
Sweep Interest Income from FDIC-Insured Bank Deposits 0 0 0 0
Interest (2,079) (2,074) (4,146) (4,147)
Principal transactions, net 0 0 0 (12)
Other 0 1 (4) 1
Total revenue (2,428) (2,433) (4,853) (4,853)
EXPENSES        
Compensation and related expenses 0 1 0 (5)
Communications and technology 0 0 0 0
Occupancy and equipment costs 0 0 0 0
Clearing and exchange fees 0 0 0 0
Interest (2,078) (2,073) (4,146) (4,147)
Other (350) (361) (707) (701)
Total expenses (2,428) (2,433) (4,853)  
Operating Income (Loss) 0 0 0  
Income Tax Expense (Benefit) 0 0 0  
Net Income (Loss) before equity in Earnings of Subsidiaries 0 0 0  
Equity in earnings of subsidiaries (38,200) (29,191) (56,925)  
Net income attributable to Oppenheimer Holdings Inc. (38,200) (29,191) (56,925)  
Other comprehensive income 0 0 0  
Comprehensive income (38,200) (29,191) (56,925)  
Parent [Member]        
REVENUES        
Commissions 0 0 0 0
Investment Advisory Fee Revenue 0 0 0 0
Investment banking 0 0 0 0
Sweep Interest Income from FDIC-Insured Bank Deposits 0 0 0 0
Interest 1 91 2 175
Principal transactions, net 0 0 0 0
Other 9 0 95 0
Total revenue 10 91 97 175
EXPENSES        
Compensation and related expenses 306 380 620 825
Communications and technology 43 52 83 91
Occupancy and equipment costs 0 0 0 0
Clearing and exchange fees 0 0 0 0
Interest 2,506 3,375 5,036 6,750
Other 219 234 452 550
Total expenses 3,074 4,041 6,191 8,216
Operating Income (Loss) (3,064) (3,950) (6,094) (8,041)
Income Tax Expense (Benefit) (826) (995) (1,566) (2,338)
Net Income (Loss) before equity in Earnings of Subsidiaries (2,238) (2,955) (4,528) (5,703)
Equity in earnings of subsidiaries 19,887 15,330 29,995 29,272
Net income attributable to Oppenheimer Holdings Inc. 17,649 12,375 25,467 23,569
Other comprehensive income 0 0 0 0
Comprehensive income 17,649 12,375 25,467 23,569
Guarantor Subsidiaries        
REVENUES        
Commissions 0 0 0 0
Investment Advisory Fee Revenue 0 0 0 0
Investment banking 0 0 0 0
Sweep Interest Income from FDIC-Insured Bank Deposits 0 0 0 0
Interest 2,058 2,060 4,116 4,122
Principal transactions, net 65 40 49 101
Other 0 1 0 2
Total revenue 2,123 2,101 4,165 4,225
EXPENSES        
Compensation and related expenses 0 0 0 0
Communications and technology 0 0 0 0
Occupancy and equipment costs 0 0 0 0
Clearing and exchange fees 0 0 0 0
Interest 0 0 0 0
Other 3 122 5 244
Total expenses 3 122 5 244
Operating Income (Loss) 2,120 1,979 4,160 3,981
Income Tax Expense (Benefit) 546 510 1,095 1,436
Net Income (Loss) before equity in Earnings of Subsidiaries 1,574 1,469 3,065 2,545
Equity in earnings of subsidiaries 18,313 13,861 26,930 26,726
Net income attributable to Oppenheimer Holdings Inc. 19,887 15,330 29,995 29,271
Other comprehensive income 0 0 0 0
Comprehensive income 19,887 15,330 29,995 29,271
Non-Guarantor Subsidiaries        
REVENUES        
Commissions 101,636 80,896 204,885 160,305
Investment Advisory Fee Revenue 76,330 81,067 162,848 155,049
Investment banking 46,186 32,006 71,914 60,049
Sweep Interest Income from FDIC-Insured Bank Deposits 7,122 31,830 25,948 65,798
Interest 6,240 13,473 17,138 26,127
Principal transactions, net 11,999 3,005 11,147 14,394
Other 15,512 8,899 6,211 21,436
Total revenue 265,025 251,176 500,091 503,158
EXPENSES        
Compensation and related expenses 179,288 155,402 336,650 315,318
Communications and technology 21,281 20,447 41,132 40,494
Occupancy and equipment costs 15,334 15,573 31,412 30,846
Clearing and exchange fees 6,191 5,678 11,850 11,010
Interest 2,462 11,890 8,550 23,575
Other 16,261 22,824 35,076 44,412
Total expenses 240,817 231,814 464,670 465,655
Operating Income (Loss) 24,208 19,362 35,421 37,503
Income Tax Expense (Benefit) 5,895 5,501 8,491 10,776
Net Income (Loss) before equity in Earnings of Subsidiaries 18,313 13,861 26,930 26,727
Equity in earnings of subsidiaries 0 0 0 0
Net income attributable to Oppenheimer Holdings Inc. 18,313 13,861 26,930 26,727
Other comprehensive income 480 361 (57) 924
Comprehensive income $ 18,793 $ 14,222 $ 26,873 27,651
Eliminations        
EXPENSES        
Total expenses       (4,853)
Operating Income (Loss)       0
Income Tax Expense (Benefit)       0
Net Income (Loss) before equity in Earnings of Subsidiaries       0
Equity in earnings of subsidiaries       (55,998)
Net income attributable to Oppenheimer Holdings Inc.       (55,998)
Other comprehensive income       0
Comprehensive income       $ (55,998)