XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net Income (Loss) before equity in Earnings of Subsidiaries $ 15,639 $ 3,949 $ 41,106 $ 27,518
Other comprehensive income 244 533 187 1,457
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 15,883 4,482 41,293 28,975
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 0 0 0 0
REVENUE        
Commissions 92,241 78,627 297,126 238,932
Investment Advisory Fee Revenue 88,595 80,887 250,740 235,241
Investment banking 66,245 21,798 138,159 81,847
Proceeds from (Payments for) in Interest-bearing Deposits in Banks 4,619 28,894 30,567 94,692
Interest 7,540 12,344 24,650 38,621
Principal transactions, net 7,703 7,606 18,899 22,089
Other 9,316 4,637 15,618 26,076
Total revenue 276,259 234,793 775,759 737,498
EXPENSES        
Compensation and related expenses 189,654 151,284 526,924 467,422
Communications and technology 19,474 20,872 60,689 61,457
Occupancy and equipment costs 15,199 16,010 46,611 46,856
Clearing and exchange fees 6,211 5,469 18,061 16,479
Interest 3,461 11,531 12,901 37,709
Other 20,542 23,131 55,368 67,636
Total expenses 254,541 228,297 720,554 697,559
Operating Income (Loss) 21,718 6,496 55,205 39,939
Income Tax Expense (Benefit) 6,079 2,547 14,099 12,421
Net income attributable to Oppenheimer Holdings Inc. $ 15,639 $ 3,949 $ 41,106 $ 27,518
Earnings per share        
Net loss per share (in dollars per share) $ 1.25 $ 0.31 $ 3.24 $ 2.13
Earnings Per Share, Diluted [Abstract]        
Net loss per share (in dollars per share) $ 1.19 $ 0.29 $ 3.12 $ 1.99
Weighted average shares        
Basic (in shares) 12,553,802 12,825,944 12,696,143 12,940,129
Diluted (in shares) 13,146,586 13,832,994 13,194,434 13,846,139
Parent [Member]        
Net Income (Loss) before equity in Earnings of Subsidiaries $ (5,812) $ (4,011) $ (10,340) $ (9,714)
Other comprehensive income 0 0 0 0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 15,639 3,949 41,106 27,518
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 21,451 7,960 51,446 37,232
REVENUE        
Commissions 0 0 0 0
Investment Advisory Fee Revenue 0 0 0 0
Investment banking 0 0 0 0
Proceeds from (Payments for) in Interest-bearing Deposits in Banks 0 0 0 0
Interest 0 59 2 234
Principal transactions, net 0 0 0 0
Other 0 3 95 3
Total revenue 0 62 97 237
EXPENSES        
Compensation and related expenses 259 273 879 1,098
Communications and technology 61 39 144 130
Occupancy and equipment costs 0 0 0 0
Clearing and exchange fees 0 0 0 0
Interest 2,596 3,038 7,632 9,788
Other 4,906 2,087 5,358 2,637
Total expenses 7,822 5,437 14,013 13,653
Operating Income (Loss) (7,822) (5,375) (13,916) (13,416)
Income Tax Expense (Benefit) (2,010) (1,364) (3,576) (3,702)
Net income attributable to Oppenheimer Holdings Inc. 15,639 3,949 41,106 27,518
Guarantor Subsidiaries [Member]        
Net Income (Loss) before equity in Earnings of Subsidiaries 1,535 1,517 4,600 4,063
Other comprehensive income 0 0 0 0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 21,451 7,960 51,446 37,232
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 19,916 6,443 46,846 33,169
REVENUE        
Commissions 0 0 0 0
Investment Advisory Fee Revenue 0 0 0 0
Investment banking 0 0 0 0
Proceeds from (Payments for) in Interest-bearing Deposits in Banks 0 0 0 0
Interest 2,058 2,059 6,174 6,181
Principal transactions, net 8 (34) 57 121
Other 0 0 0 2
Total revenue 2,066 2,025 6,231 6,304
EXPENSES        
Compensation and related expenses 0 0 0 0
Communications and technology 0 0 0 0
Occupancy and equipment costs 0 0 0 (1)
Clearing and exchange fees 0 (54) 0 0
Interest 0 0 0 0
Other 3 4 8 248
Total expenses 3 (50) 8 247
Operating Income (Loss) 2,063 2,075 6,223 6,057
Income Tax Expense (Benefit) 528 558 1,623 1,994
Net income attributable to Oppenheimer Holdings Inc. 21,451 7,960 51,446 37,232
Non-Guarantor Subsidiaries [Member]        
Net Income (Loss) before equity in Earnings of Subsidiaries 19,916 6,443 46,846 33,169
Other comprehensive income 244 533 187 1,457
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 20,160 6,976 47,033 34,626
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 0 0 0 0
REVENUE        
Commissions 92,241 78,627 297,126 238,932
Investment Advisory Fee Revenue 88,963 81,229 251,811 236,278
Investment banking 68,120 21,798 140,034 81,847
Proceeds from (Payments for) in Interest-bearing Deposits in Banks 4,619 28,894 30,567 94,692
Interest 7,594 12,299 24,732 38,426
Principal transactions, net 7,695 7,586 18,842 21,980
Other 9,315 4,635 15,526 26,070
Total revenue 278,547 235,068 778,638 738,225
EXPENSES        
Compensation and related expenses 189,395 151,012 526,045 466,330
Communications and technology 19,413 20,833 60,545 61,327
Occupancy and equipment costs 15,199 16,010 46,611 46,855
Clearing and exchange fees 6,211 5,469 18,061 16,479
Interest 2,977 10,566 11,527 34,141
Other 17,875 21,382 52,951 65,795
Total expenses 251,070 225,272 715,740 690,927
Operating Income (Loss) 27,477 9,796 62,898 47,298
Income Tax Expense (Benefit) 7,561 3,353 16,052 14,129
Net income attributable to Oppenheimer Holdings Inc. 19,916 6,443 46,846 33,169
Consolidation, Eliminations [Member]        
Net Income (Loss) before equity in Earnings of Subsidiaries       0
Other comprehensive income       0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent       (70,401)
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions       (70,401)
EXPENSES        
Total expenses       (7,268)
Operating Income (Loss)       0
Income Tax Expense (Benefit)       0
Net income attributable to Oppenheimer Holdings Inc.       (70,401)
Consolidation, Eliminations [Member]        
Net Income (Loss) before equity in Earnings of Subsidiaries 0 0 0  
Other comprehensive income 0 0 0  
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (41,367) (14,403) (98,292)  
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions (41,367) (14,403) (98,292)  
REVENUE        
Commissions 0 0 0 0
Investment Advisory Fee Revenue (368) (342) (1,071) (1,037)
Investment banking (1,875) 0 (1,875) 0
Proceeds from (Payments for) in Interest-bearing Deposits in Banks 0 0 0 0
Interest (2,112) (2,073) (6,258) (6,220)
Principal transactions, net 0 54 0 (12)
Other 1 (1) (3) 1
Total revenue (4,354) (2,362) (9,207) (7,268)
EXPENSES        
Compensation and related expenses 0 (1) 0 (6)
Communications and technology 0 0 0 0
Occupancy and equipment costs 0 0 0 2
Clearing and exchange fees 0 54 0 0
Interest (2,112) (2,073) (6,258) (6,220)
Other (2,242) (342) (2,949) $ (1,044)
Total expenses (4,354) (2,362) (9,207)  
Operating Income (Loss) 0 0 0  
Income Tax Expense (Benefit) 0 0 0  
Net income attributable to Oppenheimer Holdings Inc. $ (41,367) $ (14,403) $ (98,292)