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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings per share

11. Earnings per share

Basic earnings per share was computed by dividing net profit by the weighted average number of shares of Class A and Class B Stock outstanding. Diluted earnings per share includes the weighted average number of shares of Class A and Class B Stock outstanding and the effects of the warrants using the if converted method and options to purchase the Class A Stock and restricted stock awards of Class A Stock using the treasury stock method.

 

Earnings per share has been calculated as follows.

Expressed in thousands of dollars, except share and per share amounts.

 

      September 30,       September 30,       September 30,  
    Year ended December 31,  
    2011     2010     2009  
       

Basic weighted average number of shares outstanding

     13,638,087       13,340,846       13,110,647  

Net dilutive effect of warrants, treasury method (1)

     —         —         —    

Net dilutive effect of share-based awards, treasury method (2)

     298,646       556,415       330,632  
   

 

 

    

 

 

    

 

 

  
       

Diluted common shares

     13,936,733       13,897,261       13,441,279  
   

 

 

    

 

 

    

 

 

  
       

Net profit, for the year

   $ 12,617     $ 40,780     $ 20,824  

Net profit attributable to non- controlling interests

     (2,301 )      (2,248 )      —    
   

 

 

    

 

 

    

 

 

  

Net profit available to Oppenheimer Holdings Inc. stockholders and assumed conversions

   $ 10,316     $ 38,532     $ 20,824  
   

 

 

    

 

 

    

 

 

  
       

Basic earnings per share

   $ 0.76     $ 2.89     $ 1.59  

Diluted earnings per share

   $ 0.74     $ 2.77     $ 1.55  

 

(1)

As part of the consideration for the 2008 acquisition of certain businesses from CIBC World Markets Corp., the Company issued a warrant to CIBC to purchase 1 million shares of Class A Stock of the Company at $48.62 per share exercisable five years from the January 14, 2008 acquisition date. For the years ended December 31, 2011, 2010 and 2009, the effect of the warrants is anti-dilutive.

 

(2)

The diluted earnings per share computations do not include the antidilutive effect of the following items:

 

      September 30,       September 30,       September 30,  
    Year ended December 31,  
    2011     2010     2009  
       

Number of antidilutive warrants, options and restricted shares, for the period

     1,142,028       1,254,279       1,459,642