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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings per share

4. Earnings per share

Basic earnings per share was computed by dividing net profit (loss) 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.

 

                 
    Three months ended March 31,  
    2012     2011  

Basic weighted average number of shares outstanding

     13,597,330       13,550,723  

Net dilutive effect of warrants, treasury method (1)

     —         —    

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

     —         652,690  
   

 

 

    

 

 

  

Diluted common shares

     13,597,330       14,203,413  
   

 

 

    

 

 

  
     

Net profit (loss), for the period

   $ (3,883 )    $ 5,761  

Net profit attributable to non-controlling interests

     774       675  
   

 

 

    

 

 

  

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

   $ (4,657 )    $ 5,086  
   

 

 

    

 

 

  

Basic earnings (loss) per share

   $ (0.34 )    $ 0.38  

Diluted earnings (loss) per share

   $ (0.34 )    $ 0.36  

 

(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 three months ended March 31, 2012 and 2011, 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:

 

                 
    Three months ended March 31,  
    2012     2011  

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

     1,058,048       1,142,028