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Segment Information
 3 Months Ended
Mar. 31, 2012
Segment Information [Abstract]  
Segment Information

11. Segment Information

The Company has determined its reportable segments based on the Company’s method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company’s segments are: Private Client which includes commission and fee income earned on client transactions, net interest earnings on client margin loans and cash balances, stock loan activities and financing activities; Capital Markets which includes investment banking, market-making activities in over-the-counter equities, institutional trading in both fixed income and equities, structured assets transactions, bond trading, trading in mortgage-backed securities, corporate underwriting activities, public finance activities, syndicate participation as well as the Company’s operations in the United Kingdom, Hong Kong, and Israel; and Asset Management which includes fees from money market funds and the investment management services of Oppenheimer Asset Management Inc. and Oppenheimer’s asset management divisions employing various programs to professionally manage client assets either in individual accounts or in funds. The Company evaluates the performance of its segments and allocates resources to them based upon profitability. The Company has allocated all revenue and expenses to its segments and has eliminated the “Other” category as these are now allocated by the Chief Executive Officer and Chief Financial Officer in their analysis. Previously reported segment information has been revised to reflect this change.

 

The table below presents information about the reported revenue and profit (loss) before income taxes of the Company for the three months ended March 31, 2012 and 2011. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use.

Expressed in thousands of dollars.

 

                 
    Three months ended March 31,  
    2012     2011  

Revenue:

                

Private Client (1)

   $ 137,306     $ 147,065  

Capital Markets

     78,950       88,087  

Asset Management (1)

     21,958       18,265  
   

 

 

    

 

 

  

Total

   $ 238,214     $ 253,417  
   

 

 

    

 

 

  

Profit (loss) before income taxes:

                

Private Client (1)

   $ 1,371     $ 3,398  

Capital Markets

     (14,279 )      1,365  

Asset Management (1)

     6,419       5,066  
   

 

 

    

 

 

  

Total

   $ (6,489 )    $ 9,829  
   

 

 

    

 

 

  

 

(1) Asset management revenue is allocated 22.5% to the Asset Management segment and 77.5% to the Private Client segment.

Revenue, classified by the major geographic areas in which it was earned for the three months ended March 31, 2012 and 2011, was as follows:

Expressed in thousands of dollars.

 

                 
    Three months ended March 31,  
    2012     2011  

United States

   $ 225,635     $ 239,290  

Europe / Middle East

     8,277       8,234  

Asia

     1,826       3,139  

South America

     2,476       2,754  
   

 

 

    

 

 

  

Total

   $ 238,214     $ 253,417