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Supplemental Guarantor Consolidated Financial Statements | 12 Months Ended
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Dec. 31, 2013
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor Consolidated Financial Statements |
24. | Supplemental guarantor consolidated financial statements
The Company’s Notes are jointly and severally and fully and unconditionally guaranteed on a senior basis by E.A. Viner International Co. and Viner Finance Inc. (together, the “Guarantors”), unless released as described below. Each of the Guarantors is 100% owned by the Company. The following consolidating financial statements present the financial position, results of operations and cash flows of the Company (referred to as “Parent” for purposes of this note only), the Guarantor subsidiaries, the Non-Guarantor subsidiaries and elimination entries necessary to consolidate the Company. Investments in subsidiaries are accounted for using the equity method for purposes of the consolidated presentation. Each Guarantor will be automatically and unconditionally released and discharged upon: the sale, exchange or transfer of the capital stock of a Guarantor and the Guarantor ceasing to be a direct or indirect subsidiary of the Company if such sale does not constitute an asset sale under the indenture for the Notes or does not constitute an asset sale effected in compliance with the asset sale and merger covenants of the debenture for the Notes; a Guarantor being dissolved or liquidated; a Guarantor being designated unrestricted in compliance with the applicable provisions of the Notes; or the exercise by the Company of its legal defeasance option or covenant defeasance option or the discharge of the Company’s obligations under the indenture for the Notes in accordance with the terms of such indenture. OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2013
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 448 |  |  | $ | 30,901 |  |  | $ | 66,945 |  |  | $ | — |  |  | $ | 98,294 |
Cash and securities segregated for regulatory and other purposes |  |  | — |  |  |  | — |  |  |  | 36,323 |  |  |  | — |  |  |  | 36,323 |
Deposits with clearing organizations |  |  | — |  |  |  | — |  |  |  | 23,679 |  |  |  | — |  |  |  | 23,679 |
Receivable from brokers, dealers and clearing organizations |  |  | — |  |  |  | — |  |  |  | 364,873 |  |  |  | — |  |  |  | 364,873 |
Receivable from customers, net of allowance for credit losses of $2,423 |  |  | — |  |  |  | — |  |  |  | 868,869 |  |  |  | — |  |  |  | 868,869 |
Income tax receivable |  |  | 19,494 |  |  |  | 27,589 |  |  |  | (817 | ) |  |  | (39,704 | ) |  |  | 6,562 |
Securities purchased under agreements to resell |  |  | — |  |  |  | — |  |  |  | 184,825 |  |  |  | — |  |  |  | 184,825 |
Securities owned, including amounts pledged of $586,625, at fair value |  |  | — |  |  |  | 2,225 |  |  |  | 853,863 |  |  |  | — |  |  |  | 856,088 |
Subordinated loan receivable |  |  | — |  |  |  | 112,558 |  |  |  | — |  |  |  | (112,558 | ) |  |  | — |
Notes receivable, net |  |  | — |  |  |  | — |  |  |  | 40,751 |  |  |  | — |  |  |  | 40,751 |
Office facilities, net |  |  | — |  |  |  | 21,250 |  |  |  | 11,689 |  |  |  | — |  |  |  | 32,939 |
Deferred tax assets, net |  |  | 678 |  |  |  | 309 |  |  |  | 29,496 |  |  |  | (30,483 | ) |  |  | — |
Intangible assets |  |  | — |  |  |  | — |  |  |  | 31,700 |  |  |  | — |  |  |  | 31,700 |
Goodwill |  |  | — |  |  |  | — |  |  |  | 137,889 |  |  |  | — |  |  |  | 137,889 |
Loans held for sale |  |  |  |  |  |  |  |  |  |  | 75,989 |  |  |  |  |  |  |  | 75,989 |
Mortgage servicing rights |  |  |  |  |  |  |  |  |  |  | 28,879 |  |  |  |  |  |  |  | 28,879 |
Other assets |  |  | 2,797 |  |  |  | 27,113 |  |  |  | 135,150 |  |  |  | — |  |  |  | 165,060 |
Investment in subsidiaries |  |  | 546,755 |  |  |  | 910,230 |  |  |  | (182,625 | ) |  |  | (1,274,360 | ) |  |  | — |
Intercompany receivables |  |  | 153,528 |  |  |  | (68,920 | ) |  |  | (20,107 | ) |  |  | (64,501 | ) |  |  | — |
Total assets |  | $ | 723,700 |  |  | $ | 1,063,255 |  |  | $ | 2,687,371 |  |  | $ | (1,521,606 | ) |  | $ | 2,952,720 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Drafts payable |  | $ | — |  |  | $ | — |  |  | $ | 48,198 |  |  | $ | — |  |  | $ | 48,198 |
Bank call loans |  |  | — |  |  |  | — |  |  |  | 118,200 |  |  |  | — |  |  |  | 118,200 |
Payable to brokers, dealers and clearing organizations |  |  | — |  |  |  | — |  |  |  | 223,315 |  |  |  | — |  |  |  | 223,315 |
Payable to customers |  |  | — |  |  |  | — |  |  |  | 626,564 |  |  |  | — |  |  |  | 626,564 |
Securities sold under agreements to repurchase |  |  | — |  |  |  | — |  |  |  | 757,491 |  |  |  | — |  |  |  | 757,491 |
Securities sold, but not yet purchased, at fair value |  |  | — |  |  |  | — |  |  |  | 76,314 |  |  |  | — |  |  |  | 76,314 |
Accrued compensation |  |  | — |  |  |  | — |  |  |  | 180,119 |  |  |  | — |  |  |  | 180,119 |
Accounts payable and other liabilities |  |  | 3,742 |  |  |  | 59,289 |  |  |  | 129,609 |  |  |  | (88 | ) |  |  | 192,552 |
Income tax payable |  |  | 2,440 |  |  |  | 22,189 |  |  |  | 15,075 |  |  |  | (39,704 | ) |  |  | — |
Senior secured notes |  |  | 195,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 195,000 |
Subordinated indebtedness |  |  | — |  |  |  | — |  |  |  | 112,558 |  |  |  | (112,558 | ) |  |  | — |
Deferred tax liabilities, net |  |  | — |  |  |  | — |  |  |  | 37,579 |  |  |  | (30,483 | ) |  |  | 7,096 |
Intercompany payables |  |  | — |  |  |  | 64,501 |  |  |  | — |  |  |  | (64,501 | ) |  |  | — |
Total liabilities |  |  | 201,182 |  |  |  | 145,979 |  |  |  | 2,325,022 |  |  |  | (247,334 | ) |  |  | 2,424,849 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. |  |  | 522,518 |  |  |  | 917,276 |  |  |  | 356,996 |  |  |  | (1,274,272 | ) |  |  | 522,518 |
Non-controlling interest |  |  | — |  |  |  | — |  |  |  | 5,353 |  |  |  | — |  |  |  | 5,353 |
Total stockholders’ equity |  |  | 522,518 |  |  |  | 917,276 |  |  |  | 362,349 |  |  |  | (1,274,272 | ) |  |  | 527,871 |
Total liabilities and stockholders’ equity |  | $ | 723,700 |  |  | $ | 1,063,255 |  |  | $ | 2,687,371 |  |  | $ | (1,521,606 | ) |  | $ | 2,952,720 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2012
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 35 |  |  | $ | 40,658 |  |  | $ | 94,673 |  |  | $ | — |  |  | $ | 135,366 |
Cash and securities segregated for regulatory and other purposes |  |  | — |  |  |  | — |  |  |  | 33,000 |  |  |  | — |  |  |  | 33,000 |
Deposits with clearing organizations |  |  | — |  |  |  | — |  |  |  | 25,954 |  |  |  | — |  |  |  | 25,954 |
Receivable from brokers, dealers and clearing organizations |  |  | — |  |  |  | — |  |  |  | 479,699 |  |  |  | — |  |  |  | 479,699 |
Receivable from customers, net of allowance for credit losses of $2,256 |  |  | — |  |  |  | — |  |  |  | 817,941 |  |  |  | — |  |  |  | 817,941 |
Income tax receivable |  |  | 13,207 |  |  |  | 30,568 |  |  |  | (450 | ) |  |  | (42,874 | ) |  |  | 451 |
Securities owned, including amounts pledged of $569,995, at fair value |  |  | — |  |  |  | 2,459 |  |  |  | 757,283 |  |  |  | — |  |  |  | 759,742 |
Subordinated loan receivable |  |  | — |  |  |  | 112,558 |  |  |  | — |  |  |  | (112,558 | ) |  |  | — |
Notes receivable, net |  |  | — |  |  |  | — |  |  |  | 47,324 |  |  |  | — |  |  |  | 47,324 |
Office facilities, net |  |  | — |  |  |  | 15,547 |  |  |  | 12,785 |  |  |  | — |  |  |  | 28,332 |
Deferred tax assets, net |  |  | (143 | ) |  |  | 309 |  |  |  | 52,350 |  |  |  | (36,176 | ) |  |  | 16,340 |
Intangible assets |  |  | — |  |  |  | — |  |  |  | 31,700 |  |  |  | — |  |  |  | 31,700 |
Goodwill |  |  | — |  |  |  | — |  |  |  | 137,889 |  |  |  | — |  |  |  | 137,889 |
Loans held for sale |  |  | — |  |  |  | — |  |  |  | 22,874 |  |  |  | — |  |  |  | 22,874 |
Mortgage servicing rights |  |  | — |  |  |  | — |  |  |  | 26,983 |  |  |  | — |  |  |  | 26,983 |
Other assets |  |  | 3,418 |  |  |  | 1,437 |  |  |  | 109,570 |  |  |  | — |  |  |  | 114,425 |
Investment in subsidiaries |  |  | 506,679 |  |  |  | 880,609 |  |  |  | (195,045 | ) |  |  | (1,192,243 | ) |  |  | — |
Intercompany receivables |  |  | 178,743 |  |  |  | (114,449 | ) |  |  | (27,686 | ) |  |  | (36,608 | ) |  |  | — |
Total assets |  | $ | 701,939 |  |  | $ | 969,696 |  |  | $ | 2,426,844 |  |  | $ | (1,420,459 | ) |  | $ | 2,678,020 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Drafts payable |  | $ | — |  |  | $ | — |  |  | $ | 56,586 |  |  | $ | — |  |  | $ | 56,586 |
Bank call loans |  |  | — |  |  |  | — |  |  |  | 128,300 |  |  |  | — |  |  |  | 128,300 |
Payable to brokers, dealers and clearing organizations |  |  | — |  |  |  | — |  |  |  | 204,218 |  |  |  | — |  |  |  | 204,218 |
Payable to customers |  |  | — |  |  |  | — |  |  |  | 692,378 |  |  |  | — |  |  |  | 692,378 |
Securities sold under agreements to repurchase |  |  | — |  |  |  | — |  |  |  | 392,391 |  |  |  | — |  |  |  | 392,391 |
Securities sold, but not yet purchased, at fair value |  |  | — |  |  |  | — |  |  |  | 173,450 |  |  |  | — |  |  |  | 173,450 |
Accrued compensation |  |  | — |  |  |  | — |  |  |  | 150,434 |  |  |  | — |  |  |  | 150,434 |
Accounts payable and other liabilities |  |  | 3,759 |  |  |  | 43,350 |  |  |  | 133,646 |  |  |  | (493 | ) |  |  | 180,262 |
Income tax payable |  |  | 2,440 |  |  |  | 22,189 |  |  |  | 18,687 |  |  |  | (43,316 | ) |  |  | — |
Senior secured notes |  |  | 195,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 195,000 |
Subordinated indebtedness |  |  | — |  |  |  | — |  |  |  | 112,558 |  |  |  | (112,558 | ) |  |  | — |
Deferred tax liabilities, net |  |  | — |  |  |  | (943 | ) |  |  | 36,677 |  |  |  | (35,734 | ) |  |  | — |
Intercompany payables |  |  | — |  |  |  | 36,605 |  |  |  | — |  |  |  | (36,605 | ) |  |  | — |
Total liabilities |  |  | 201,199 |  |  |  | 101,201 |  |  |  | 2,099,325 |  |  |  | (228,706 | ) |  |  | 2,173,019 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. |  |  | 500,740 |  |  |  | 868,495 |  |  |  | 323,258 |  |  |  | (1,191,753 | ) |  |  | 500,740 |
Noncontrolling interest |  |  | — |  |  |  | — |  |  |  | 4,261 |  |  |  | — |  |  |  | 4,261 |
Total stockholders’ equity |  |  | 500,740 |  |  |  | 868,495 |  |  |  | 327,519 |  |  |  | (1,191,753 | ) |  |  | 505,001 |
Total liabilities and stockholders’ equity |  | $ | 701,939 |  |  | $ | 969,696 |  |  | $ | 2,426,844 |  |  | $ | (1,420,459 | ) |  | $ | 2,678,020 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2013
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | — |  |  | $ | — |  |  | $ | 486,767 |  |  | $ | — |  |  | $ | 486,767 |
Advisory fees |  |  | — |  |  |  | 825 |  |  |  | 276,913 |  |  |  | (3,560 | ) |  |  | 274,178 |
Investment banking |  |  | — |  |  |  | — |  |  |  | 97,977 |  |  |  | — |  |  |  | 97,977 |
Interest |  |  | 5 |  |  |  | 11,128 |  |  |  | 53,401 |  |  |  | (11,318 | ) |  |  | 53,216 |
Principal transactions, net |  |  | — |  |  |  | 79 |  |  |  | 43,689 |  |  |  | — |  |  |  | 43,768 |
Other |  |  | — |  |  |  | 180 |  |  |  | 63,808 |  |  |  | (180 | ) |  |  | 63,808 |
Total revenue |  |  | 5 |  |  |  | 12,212 |  |  |  | 1,022,555 |  |  |  | (15,058 | ) |  |  | 1,019,714 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and related expenses |  |  | 1,124 |  |  |  | — |  |  |  | 674,812 |  |  |  | — |  |  |  | 675,936 |
Occupancy and equipment costs |  |  | — |  |  |  | — |  |  |  | 66,938 |  |  |  | (180 | ) |  |  | 66,758 |
Communications and technology |  |  | 119 |  |  |  | — |  |  |  | 65,698 |  |  |  | — |  |  |  | 65,817 |
Interest |  |  | 17,500 |  |  |  | — |  |  |  | 19,960 |  |  |  | (11,318 | ) |  |  | 26,142 |
Clearing and exchange fees |  |  | — |  |  |  | — |  |  |  | 24,481 |  |  |  | — |  |  |  | 24,481 |
Other |  |  | 1,309 |  |  |  | 522 |  |  |  | 118,400 |  |  |  | (3,560 | ) |  |  | 116,671 |
Total expenses |  |  | 20,052 |  |  |  | 522 |  |  |  | 970,289 |  |  |  | (15,058 | ) |  |  | 975,805 |
Income (loss) before income taxes |  |  | (20,047 | ) |  |  | 11,690 |  |  |  | 52,266 |  |  |  | — |  |  |  | 43,909 |
Income tax provision (benefit) |  |  | (7,110 | ) |  |  | 5,638 |  |  |  | 19,228 |  |  |  | — |  |  |  | 17,756 |
Net income (loss) for the year |  |  | (12,937 | ) |  |  | 6,052 |  |  |  | 33,038 |  |  |  | — |  |  |  | 26,153 |
Less net income attributable to non-controlling interest, net of tax |  |  | — |  |  |  | — |  |  |  | 1,092 |  |  |  | — |  |  |  | 1,092 |
Equity in subsidiaries |  |  | 37,998 |  |  |  | — |  |  |  | — |  |  |  | (37,998 | ) |  |  | — |
Net income attributable to Oppenheimer Holdings Inc. |  |  | 25,061 |  |  |  | 6,052 |  |  |  | 31,946 |  |  |  | (37,998 | ) |  |  | 25,061 |
Other comprehensive income (loss) |  |  | (3 | ) |  |  | — |  |  |  | 1,505 |  |  |  | — |  |  |  | 1,502 |
Total comprehensive income |  | $ | 25,058 |  |  | $ | 6,052 |  |  | $ | 33,451 |  |  | $ | (37,998 | ) |  | $ | 26,563 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2012
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | — |  |  | $ | — |  |  | $ | 469,865 |  |  | $ | — |  |  | $ | 469,865 |
Advisory fees |  |  | — |  |  |  | — |  |  |  | 225,226 |  |  |  | (2,494 | ) |  |  | 222,732 |
Investment banking |  |  | — |  |  |  | — |  |  |  | 89,477 |  |  |  | — |  |  |  | 89,477 |
Interest |  |  | — |  |  |  | 12,070 |  |  |  | 57,452 |  |  |  | (11,860 | ) |  |  | 57,662 |
Principal transactions, net |  |  | — |  |  |  | 752 |  |  |  | 53,559 |  |  |  | — |  |  |  | 54,311 |
Other |  |  | — |  |  |  | 168 |  |  |  | 58,565 |  |  |  | (168 | ) |  |  | 58,565 |
Total revenue |  |  | — |  |  |  | 12,990 |  |  |  | 954,144 |  |  |  | (14,522 | ) |  |  | 952,612 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and related expenses |  |  | 397 |  |  |  | — |  |  |  | 626,014 |  |  |  | — |  |  |  | 626,411 |
Communications and technology |  |  | 81 |  |  |  | — |  |  |  | 63,278 |  |  |  | — |  |  |  | 63,359 |
Occupancy and equipment costs |  |  | — |  |  |  | — |  |  |  | 62,986 |  |  |  | (168 | ) |  |  | 62,818 |
Interest |  |  | 17,500 |  |  |  | — |  |  |  | 29,447 |  |  |  | (11,861 | ) |  |  | 35,086 |
Clearing and exchange fees |  |  | — |  |  |  | — |  |  |  | 23,750 |  |  |  | — |  |  |  | 23,750 |
Other |  |  | 1,475 |  |  |  | 60 |  |  |  | 142,673 |  |  |  | (2,493 | ) |  |  | 141,715 |
Total expenses |  |  | 19,453 |  |  |  | 60 |  |  |  | 948,148 |  |  |  | (14,522 | ) |  |  | 953,139 |
Income (loss) before income taxes |  |  | (19,453 | ) |  |  | 12,930 |  |  |  | 5,996 |  |  |  | — |  |  |  | (527 | )
Income tax provision (benefit) |  |  | (6,315 | ) |  |  | 6,093 |  |  |  | 546 |  |  |  | — |  |  |  | 324 |
Net income (loss) for the year |  |  | (13,138 | ) |  |  | 6,837 |  |  |  | 5,450 |  |  |  | — |  |  |  | (851 | )
Less net income attributable to non-controlling interest, net of tax |  |  | — |  |  |  | — |  |  |  | 2,762 |  |  |  | — |  |  |  | 2,762 |
Equity in subsidiaries |  |  | 9,525 |  |  |  | — |  |  |  | — |  |  |  | (9,525 | ) |  |  | — |
Net income (loss) attributable to Oppenheimer Holdings Inc. |  |  | (3,613 | ) |  |  | 6,837 |  |  |  | 2,688 |  |  |  | (9,525 | ) |  |  | (3,613 | )
Other comprehensive income |  |  | — |  |  |  | — |  |  |  | 415 |  |  |  | — |  |  |  | 415 |
Total comprehensive income (loss) |  | $ | (3,613 | ) |  | $ | 6,837 |  |  | $ | 3,103 |  |  | $ | (9,525 | ) |  | $ | (3,198 | )
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2011
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  | $ | — |  |  | $ | — |  |  | $ | 492,228 |  |  | $ | — |  |  | $ | 492,228 |
Advisory fees |  |  | — |  |  |  | — |  |  |  | 199,565 |  |  |  | (2,468 | ) |  |  | 197,097 |
Investment banking |  |  | — |  |  |  | — |  |  |  | 120,202 |  |  |  | (1,000 | ) |  |  | 119,202 |
Interest |  |  | 1 |  |  |  | 10,432 |  |  |  | 56,045 |  |  |  | (9,699 | ) |  |  | 56,779 |
Principal transactions, net |  |  | 300 |  |  |  | (1,413 | ) |  |  | 48,773 |  |  |  | — |  |  |  | 47,660 |
Other |  |  | — |  |  |  | 1 |  |  |  | 46,025 |  |  |  | — |  |  |  | 46,026 |
Total revenue |  |  | 301 |  |  |  | 9,020 |  |  |  | 962,838 |  |  |  | (13,167 | ) |  |  | 958,992 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compensation and related expenses |  |  | 288 |  |  |  | — |  |  |  | 626,479 |  |  |  | — |  |  |  | 626,767 |
Occupancy and equipment costs |  |  | — |  |  |  | (24 | ) |  |  | 76,533 |  |  |  | — |  |  |  | 76,509 |
Communications and technology |  |  | 52 |  |  |  | — |  |  |  | 62,621 |  |  |  | — |  |  |  | 62,673 |
Interest |  |  | 12,541 |  |  |  | 3,546 |  |  |  | 31,638 |  |  |  | (9,699 | ) |  |  | 38,026 |
Clearing and exchange fees |  |  | — |  |  |  | — |  |  |  | 24,991 |  |  |  | — |  |  |  | 24,991 |
Other |  |  | 2,384 |  |  |  | 299 |  |  |  | 112,963 |  |  |  | (3,468 | ) |  |  | 112,178 |
Total expenses |  |  | 15,265 |  |  |  | 3,821 |  |  |  | 935,225 |  |  |  | (13,167 | ) |  |  | 941,144 |
Income (loss) before income taxes |  |  | (14,964 | ) |  |  | 5,199 |  |  |  | 27,613 |  |  |  | — |  |  |  | 17,848 |
Income tax provision (benefit) |  |  | (6,748 | ) |  |  | 893 |  |  |  | 11,086 |  |  |  | — |  |  |  | 5,231 |
Net income (loss) for the year |  |  | (8,216 | ) |  |  | 4,306 |  |  |  | 16,527 |  |  |  | — |  |  |  | 12,617 |
Less net income attributable to non-controlling interest, net of tax |  |  | — |  |  |  | — |  |  |  | 2,301 |  |  |  | — |  |  |  | 2,301 |
Equity in subsidiaries |  |  | 18,532 |  |  |  | — |  |  |  | — |  |  |  | (18,532 | ) |  |  | — |
Net income attributable to Oppenheimer Holdings Inc. |  |  | 10,316 |  |  |  | 4,306 |  |  |  | 14,226 |  |  |  | (18,532 | ) |  |  | 10,316 |
Other comprehensive income (loss) |  |  | (18 | ) |  |  | 1,322 |  |  |  | (1,719 | ) |  |  | — |  |  |  | (415 | )
Total comprehensive income |  | $ | 10,298 |  |  | $ | 5,628 |  |  | $ | 12,507 |  |  | $ | (18,532 | ) |  | $ | 9,901 |
OPPNEHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2013
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  | $ | (12,937 | ) |  | $ | 6,052 |  |  | $ | 33,038 |  |  | $ | — |  |  | $ | 26,153 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of office facilities and leasehold improvements |  |  | — |  |  |  | — |  |  |  | 9,405 |  |  |  | — |  |  |  | 9,405 |
Deferred income taxes |  |  | — |  |  |  | — |  |  |  | 23,436 |  |  |  | — |  |  |  | 23,436 |
Amortization of notes receivable |  |  | — |  |  |  | — |  |  |  | 18,762 |  |  |  | — |  |  |  | 18,762 |
Amortization of debt issuance costs |  |  | 639 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 639 |
Amortization of mortgage servicing rights |  |  | — |  |  |  | — |  |  |  | 1,881 |  |  |  | — |  |  |  | 1,881 |
Provision for credit losses |  |  | — |  |  |  | — |  |  |  | 167 |  |  |  | — |  |  |  | 167 |
Share-based compensation expense |  |  | 461 |  |  |  | — |  |  |  | 8,788 |  |  |  | — |  |  |  | 9,249 |
Changes in operating assets and liabilities |  |  | 21,781 |  |  |  | (15,809 | ) |  |  | (99,093 | ) |  |  | — |  |  |  | (93,121 | )
Cash provided by (used in) continuing operations |  |  | 9,944 |  |  |  | (9,757 | ) |  |  | (3,616 | ) |  |  | — |  |  |  | (3,429 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase of office facilities |  |  | — |  |  |  | — |  |  |  | (14,012 | ) |  |  | — |  |  |  | (14,012 | )
Cash used in investing activities |  |  | — |  |  |  | — |  |  |  | (14,012 | ) |  |  | — |  |  |  | (14,012 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock |  |  | (5,978 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,978 | )
Issuance of Class A non-voting common stock |  |  | 150 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 150 |
Repurchase of Class A non-voting common stock for cancellation |  |  | (3,625 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,625 | )
Tax deficiency from share-based awards |  |  | (78 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (78 | )
Other financing activities |  |  | — |  |  |  | — |  |  |  | (10,100 | ) |  |  | — |  |  |  | (10,100 | )
Cash flow used in financing activities |  |  | (9,531 | ) |  |  | — |  |  |  | (10,100 | ) |  |  | — |  |  |  | (19,631 | )
Net increase (decrease) in cash and cash equivalents |  |  | 413 |  |  |  | (9,757 | ) |  |  | (27,728 | ) |  |  | — |  |  |  | (37,072 | )
Cash and cash equivalents, beginning of the year |  |  | 35 |  |  |  | 40,658 |  |  |  | 94,673 |  |  |  | — |  |  |  | 135,366 |
Cash and cash equivalents, end of the year |  | $ | 448 |  |  | $ | 30,901 |  |  | $ | 66,945 |  |  | $ | — |  |  | $ | 98,294 |
OPPNEHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2012
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  | $ | (13,138 | ) |  | $ | 6,837 |  |  | $ | 5,450 |  |  | $ | — |  |  | $ | (851 | )
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of office facilities and leasehold improvements |  |  | — |  |  |  | — |  |  |  | 10,466 |  |  |  | — |  |  |  | 10,466 |
Deferred income taxes |  |  | — |  |  |  | — |  |  |  | (26,642 | ) |  |  | — |  |  |  | (26,642 | )
Amortization of notes receivable |  |  | — |  |  |  | — |  |  |  | 19,515 |  |  |  | — |  |  |  | 19,515 |
Amortization of debt issuance costs |  |  | 639 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 639 |
Amortization of intangible assets |  |  | — |  |  |  | — |  |  |  | 3,889 |  |  |  | — |  |  |  | 3,889 |
Amortization of mortgage servicing rights |  |  | — |  |  |  | — |  |  |  | 3,200 |  |  |  | — |  |  |  | 3,200 |
Provision for (reversal of) credit losses |  |  | — |  |  |  | — |  |  |  | (292 | ) |  |  | — |  |  |  | (292 | )
Share-based compensation expense |  |  | — |  |  |  | — |  |  |  | 4,191 |  |  |  | — |  |  |  | 4,191 |
Reduction of excess of fair value of acquired assets over cost |  |  |  | (7,020 | ) |  |  | — |  |  |  | — |  |  |  | (7,020 | )
Changes in operating assets and liabilities |  |  | 18,551 |  |  |  | 31,959 |  |  |  | (67,057 | ) |  |  | — |  |  |  | (16,547 | )
Cash provided by (used in) continuing operations |  |  | 6,052 |  |  |  | 31,776 |  |  |  | (47,280 | ) |  |  | — |  |  |  | (9,452 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase of office facilities |  |  | — |  |  |  | — |  |  |  | (14,739 | ) |  |  | — |  |  |  | (14,739 | )
Cash used in investing activities |  |  | — |  |  |  | — |  |  |  | (14,739 | ) |  |  | — |  |  |  | (14,739 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock |  |  | (5,986 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,986 | )
Repurchase of Class A non-voting common stock for cancellation |  |  | (1,866 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,866 | )
Tax deficiency from share-based awards |  |  | (720 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (720 | )
Acquisition of non-controlling interest |  |  | — |  |  |  | (3,000 | ) |  |  | — |  |  |  | — |  |  |  | (3,000 | )
Other financing activities |  |  | — |  |  |  | — |  |  |  | 100,800 |  |  |  | — |  |  |  | 100,800 |
Cash flow provided by (used in) financing activities |  |  | (8,572 | ) |  |  | (3,000 | ) |  |  | 100,800 |  |  |  | — |  |  |  | 89,228 |
Net increase (decrease) in cash and cash equivalents |  |  | (2,520 | ) |  |  | 28,776 |  |  |  | 38,781 |  |  |  | — |  |  |  | 65,037 |
Cash and cash equivalents, beginning of the year |  |  | 2,555 |  |  |  | 11,882 |  |  |  | 55,892 |  |  |  | — |  |  |  | 70,329 |
Cash and cash equivalents, end of the year |  | $ | 35 |  |  | $ | 40,658 |  |  | $ | 94,673 |  |  | $ | — |  |  | $ | 135,366 |
OPPNEHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2011
(Expressed in thousands) |  | Parent |  |  | Guarantor subsidiaries |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  | $ | (8,216 | ) |  | $ | 4,306 |  |  | $ | 16,527 |  |  | $ | — |  |  | $ | 12,617 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of office facilities and leasehold improvements |  |  | — |  |  |  | — |  |  |  | 11,899 |  |  |  | — |  |  |  | 11,899 |
Deferred income taxes |  |  | — |  |  |  | — |  |  |  | (745 | ) |  |  | — |  |  |  | (745 | )
Amortization of notes receivable |  |  | — |  |  |  | — |  |  |  | 19,699 |  |  |  | — |  |  |  | 19,699 |
Amortization of debt issuance costs |  |  | 553 |  |  |  | — |  |  |  | 433 |  |  |  | — |  |  |  | 986 |
Amortization of intangible assets |  |  | — |  |  |  | — |  |  |  | 5,390 |  |  |  | — |  |  |  | 5,390 |
Amortization of mortgage servicing rights |  |  | — |  |  |  | — |  |  |  | 2,444 |  |  |  | — |  |  |  | 2,444 |
Provision for (reversal of) credit losses |  |  | — |  |  |  | — |  |  |  | (168 | ) |  |  | — |  |  |  | (168 | )
Share-based compensation expense |  |  | — |  |  |  | — |  |  |  | 1,100 |  |  |  | — |  |  |  | 1,100 |
Changes in operating assets and liabilities |  |  | (173,276 | ) |  |  | 7,817 |  |  |  | 193,774 |  |  |  | — |  |  |  | 28,315 |
Cash provided by (used in) continuing operations |  |  | (180,939 | ) |  |  | 12,123 |  |  |  | 250,353 |  |  |  | — |  |  |  | 81,537 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition, net of cash acquired |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase of office facilities |  |  | — |  |  |  | — |  |  |  | (5,192 | ) |  |  | — |  |  |  | (5,192 | )
Cash used in investing activities |  |  | — |  |  |  | — |  |  |  | (5,192 | ) |  |  | — |  |  |  | (5,192 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock |  |  | (6,010 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6,010 | )
Issuance of Class A non-voting common stock |  |  | 337 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 337 |
Tax deficiency from share-based awards |  |  | (1,629 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,629 | )
Debt Issuance Cost |  |  | (4,565 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,565 | )
Issuance of senior secured note |  |  | 200,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 200,000 |
Buy back of senior secured note |  |  | (5,000 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,000 | )
Repayments of subordinated note |  |  | — |  |  |  | — |  |  |  | (100,000 | ) |  |  | — |  |  |  | (100,000 | )
Repayments of senior secured credit note |  |  | — |  |  |  | — |  |  |  | (22,503 | ) |  |  | — |  |  |  | (22,503 | )
Other financing activities |  |  | — |  |  |  | — |  |  |  | (119,500 | ) |  |  | — |  |  |  | (119,500 | )
Cash flow provided by (used in) financing activities |  |  | 183,133 |  |  |  | — |  |  |  | (242,003 | ) |  |  | — |  |  |  | (58,870 | )
Net increase in cash and cash equivalents |  |  | 2,194 |  |  |  | 12,123 |  |  |  | 3,158 |  |  |  | — |  |  |  | 17,475 |
Cash and cash equivalents, beginning of the year |  |  | 361 |  |  |  | (241 | ) |  |  | 52,734 |  |  |  | — |  |  |  | 52,854 |
Cash and cash equivalents, end of the year |  | $ | 2,555 |  |  | $ | 11,882 |  |  | $ | 55,892 |  |  | $ | — |  |  | $ | 70,329 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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