Supplemental Guarantor Consolidated Financial Statements (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

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

Condensed Consolidating Statement of Operations

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

Condensed Consolidating Statement of Cash Flows

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