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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheet |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,198 |  |  | $ | 6,560 |  |  | $ | 57,416 |  |  | $ | — |  |  | $ | 65,174 |
Cash and securities segregated for regulatory and other purposes | — |  |  | — |  |  | 19,117 |  |  | — |  |  | 19,117 |
Deposits with clearing organizations | — |  |  | — |  |  | 32,185 |  |  | — |  |  | 32,185 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 351,317 |  |  | — |  |  | 351,317 |
Receivable from customers, net of allowance for credit losses of $2,436 | — |  |  | — |  |  | 951,015 |  |  | — |  |  | 951,015 |
Income tax receivable | 24,593 |  |  | 27,611 |  |  | (696 | ) |  | (38,268 | ) |  | 13,240 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 250,000 |  |  | — |  |  | 250,000 |
Securities owned, including amounts pledged of $664,654, at fair value | — |  |  | 5,669 |  |  | 938,802 |  |  | — |  |  | 944,471 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Notes receivable, net | — |  |  | — |  |  | 37,816 |  |  | — |  |  | 37,816 |
Office facilities, net | — |  |  | 20,529 |  |  | 10,733 |  |  | — |  |  | 31,262 |
Deferred tax assets, net | 213 |  |  | 309 |  |  | 23,943 |  |  | (24,465 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 31,700 |  |  | — |  |  | 31,700 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Loans held for sale | — |  |  | — |  |  | 15,806 |  |  | — |  |  | 15,806 |
Mortgage servicing rights | — |  |  | — |  |  | 29,115 |  |  | — |  |  | 29,115 |
Other assets | 1,950 |  |  | 27,034 |  |  | 105,867 |  |  | — |  |  | 134,851 |
Investment in subsidiaries | 556,732 |  |  | 873,235 |  |  | (180,475 | ) |  | (1,249,492 | ) |  | — |
Intercompany receivables | 94,333 |  |  | (21,472 | ) |  | (10,160 | ) |  | (62,701 | ) |  | — |
Total assets | $ | 679,019 |  |  | $ | 1,052,033 |  |  | $ | 2,801,390 |  |  | $ | (1,487,484 | ) |  | $ | 3,044,958 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 32,913 |  |  | $ | — |  |  | $ | 32,913 |
Bank call loans | — |  |  | — |  |  | 147,200 |  |  | — |  |  | 147,200 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 255,432 |  |  | — |  |  | 255,432 |
Payable to customers | — |  |  | — |  |  | 684,884 |  |  | — |  |  | 684,884 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 816,606 |  |  | — |  |  | 816,606 |
Securities sold, but not yet purchased, at fair value | — |  |  | — |  |  | 126,092 |  |  | — |  |  | 126,092 |
Accrued compensation | — |  |  | — |  |  | 122,210 |  |  | — |  |  | 122,210 |
Accounts payable and other liabilities | 2,822 |  |  | 58,483 |  |  | 104,314 |  |  | — |  |  | 165,619 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 13,639 |  |  | (38,268 | ) |  | — |
Senior secured notes | 150,000 |  |  | — |  |  | — |  |  | — |  |  | 150,000 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities, net | — |  |  | 60 |  |  | 38,800 |  |  | (24,465 | ) |  | 14,395 |
Intercompany payables | — |  |  | 62,701 |  |  | — |  |  | (62,701 | ) |  | — |
Total liabilities | 155,262 |  |  | 143,433 |  |  | 2,454,648 |  |  | (237,992 | ) |  | 2,515,351 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. | 523,757 |  |  | 908,600 |  |  | 340,892 |  |  | (1,249,492 | ) |  | 523,757 |
Non-controlling interest | — |  |  | — |  |  | 5,850 |  |  | — |  |  | 5,850 |
Total stockholders’ equity | 523,757 |  |  | 908,600 |  |  | 346,742 |  |  | (1,249,492 | ) |  | 529,607 |
Total liabilities and stockholders’ equity | $ | 679,019 |  |  | $ | 1,052,033 |  |  | $ | 2,801,390 |  |  | $ | (1,487,484 | ) |  | $ | 3,044,958 |
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 |
Condensed Consolidating Statement of Operations |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 116,062 |  |  | $ | — |  |  | $ | 116,062 |
Advisory fees | — |  |  | — |  |  | 70,741 |  |  | (311 | ) |  | 70,430 |
Investment banking | — |  |  | — |  |  | 26,799 |  |  | — |  |  | 26,799 |
Interest | — |  |  | 2,588 |  |  | 12,546 |  |  | (2,586 | ) |  | 12,548 |
Principal transactions, net | — |  |  | 131 |  |  | 11,663 |  |  | — |  |  | 11,794 |
Other | — |  |  | 74 |  |  | 12,046 |  |  | (64 | ) |  | 12,056 |
Total revenue | — |  |  | 2,793 |  |  | 249,857 |  |  | (2,961 | ) |  | 249,689 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 300 |  |  | — |  |  | 159,551 |  |  | — |  |  | 159,851 |
Communications and technology | 47 |  |  | — |  |  | 17,489 |  |  | — |  |  | 17,536 |
Occupancy and equipment costs | — |  |  | — |  |  | 15,971 |  |  | (64 | ) |  | 15,907 |
Clearing and exchange fees | — |  |  | — |  |  | 6,024 |  |  | — |  |  | 6,024 |
Interest | 3,464 |  |  | — |  |  | 3,534 |  |  | (2,586 | ) |  | 4,412 |
Other | 3,817 |  |  | 11 |  |  | 42,306 |  |  | (311 | ) |  | 45,823 |
Total expenses | 7,628 |  |  | 11 |  |  | 244,875 |  |  | (2,961 | ) |  | 249,553 |
Income (loss) before income taxes | (7,628 | ) |  | 2,782 |  |  | 4,982 |  |  | — |  |  | 136 |
Income tax provision (benefit) | (2,723 | ) |  | 1,269 |  |  | 2,843 |  |  | — |  |  | 1,389 |
Net income (loss) for the period | (4,905 | ) |  | 1,513 |  |  | 2,139 |  |  | — |  |  | (1,253 | )
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 301 |  |  | — |  |  | 301 |
Equity in subsidiaries | 3,350 |  |  | — |  |  | — |  |  | (3,350 | ) |  | — |
Net income (loss) attributable to Oppenheimer Holdings Inc. | (1,555 | ) |  | 1,513 |  |  | 1,838 |  |  | (3,350 | ) |  | (1,554 | )
Other comprehensive income | — |  |  | — |  |  | 339 |  |  | — |  |  | 339 |
Total comprehensive income (loss) | $ | (1,555 | ) |  | $ | 1,513 |  |  | $ | 2,177 |  |  | $ | (3,350 | ) |  | $ | (1,215 | )
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 238,200 |  |  | $ | — |  |  | $ | 238,200 |
Advisory fees | — |  |  | — |  |  | 139,316 |  |  | (681 | ) |  | 138,635 |
Investment banking | — |  |  | — |  |  | 60,323 |  |  | — |  |  | 60,323 |
Interest | — |  |  | 5,321 |  |  | 24,913 |  |  | (5,296 | ) |  | 24,938 |
Principal transactions, net | — |  |  | 171 |  |  | 20,440 |  |  | — |  |  | 20,611 |
Other | — |  |  | 290 |  |  | 22,140 |  |  | (280 | ) |  | 22,150 |
Total revenue | — |  |  | 5,782 |  |  | 505,332 |  |  | (6,257 | ) |  | 504,857 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 615 |  |  | — |  |  | 331,186 |  |  | — |  |  | 331,801 |
Communications and technology | 74 |  |  | — |  |  | 34,196 |  |  | — |  |  | 34,270 |
Occupancy and equipment costs | — |  |  | — |  |  | 31,584 |  |  | (280 | ) |  | 31,304 |
Clearing and exchange fees | — |  |  | — |  |  | 11,916 |  |  | — |  |  | 11,916 |
Interest | 7,839 |  |  | — |  |  | 7,033 |  |  | (5,296 | ) |  | 9,576 |
Other | 4,161 |  |  | 13 |  |  | 77,252 |  |  | (681 | ) |  | 80,745 |
Total expenses | 12,689 |  |  | 13 |  |  | 493,167 |  |  | (6,257 | ) |  | 499,612 |
Income (loss) before income taxes | (12,689 | ) |  | 5,769 |  |  | 12,165 |  |  | — |  |  | 5,245 |
Income tax provision (benefit) | (4,634 | ) |  | 1,131 |  |  | 6,581 |  |  | — |  |  | 3,078 |
Net income (loss) for the period | (8,055 | ) |  | 4,638 |  |  | 5,584 |  |  | — |  |  | 2,167 |
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 497 |  |  | — |  |  | 497 |
Equity in subsidiaries | 9,724 |  |  | — |  |  | — |  |  | (9,724 | ) |  | — |
Net income attributable to Oppenheimer Holdings Inc. | 1,669 |  |  | 4,638 |  |  | 5,087 |  |  | (9,724 | ) |  | 1,670 |
Other comprehensive income | — |  |  | — |  |  | 252 |  |  | — |  |  | 252 |
Total comprehensive income | $ | 1,669 |  |  | $ | 4,638 |  |  | $ | 5,339 |  |  | $ | (9,724 | ) |  | $ | 1,922 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2013
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 124,440 |  |  | $ | — |  |  | $ | 124,440 |
Advisory fees | — |  |  | — |  |  | 61,127 |  |  | (547 | ) |  | 60,580 |
Investment banking | — |  |  | — |  |  | 22,567 |  |  | — |  |  | 22,567 |
Principal transactions, net | — |  |  | (61 | ) |  | 7,593 |  |  | — |  |  | 7,532 |
Interest | — |  |  | 2,805 |  |  | 13,018 |  |  | (2,717 | ) |  | 13,106 |
Other | — |  |  | 42 |  |  | 15,605 |  |  | (42 | ) |  | 15,605 |
Total revenue | — |  |  | 2,786 |  |  | 244,350 |  |  | (3,306 | ) |  | 243,830 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 254 |  |  | — |  |  | 159,752 |  |  | — |  |  | 160,006 |
Occupancy and equipment costs | — |  |  | — |  |  | 17,183 |  |  | (42 | ) |  | 17,141 |
Communications and technology | 35 |  |  | — |  |  | 15,983 |  |  | — |  |  | 16,018 |
Interest | 4,375 |  |  | — |  |  | 5,485 |  |  | (2,717 | ) |  | 7,143 |
Clearing and exchange fees | — |  |  | — |  |  | 6,293 |  |  | — |  |  | 6,293 |
Other | 323 |  |  | 16 |  |  | 31,763 |  |  | (547 | ) |  | 31,555 |
Total expenses | 4,987 |  |  | 16 |  |  | 236,459 |  |  | (3,306 | ) |  | 238,156 |
Income (loss) before income taxes | (4,987 | ) |  | 2,770 |  |  | 7,891 |  |  | — |  |  | 5,674 |
Income tax provision (benefit) | (1,899 | ) |  | 1,215 |  |  | 3,292 |  |  | — |  |  | 2,608 |
Net income (loss) for the period | (3,088 | ) |  | 1,555 |  |  | 4,599 |  |  | — |  |  | 3,066 |
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 218 |  |  | — |  |  | 218 |
Equity in subsidiaries | 5,936 |  |  | — |  |  | — |  |  | (5,936 | ) |  | — |
Net income attributable to Oppenheimer Holdings Inc. | 2,848 |  |  | 1,555 |  |  | 4,381 |  |  | (5,936 | ) |  | 2,848 |
Other comprehensive income (loss) | (3 | ) |  | — |  |  | 52 |  |  | — |  |  | 49 |
Total comprehensive income | $ | 2,845 |  |  | $ | 1,555 |  |  | $ | 4,433 |  |  | $ | (5,936 | ) |  | $ | 2,897 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2013
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 244,020 |  |  | $ | — |  |  | $ | 244,020 |
Advisory fees | — |  |  | — |  |  | 118,487 |  |  | (1,187 | ) |  | 117,300 |
Investment banking | — |  |  | — |  |  | 41,015 |  |  | — |  |  | 41,015 |
Principal transactions, net | — |  |  | 12 |  |  | 23,237 |  |  | — |  |  | 23,249 |
Interest | 5 |  |  | 5,593 |  |  | 25,314 |  |  | (5,435 | ) |  | 25,477 |
Other | — |  |  | 84 |  |  | 31,915 |  |  | (84 | ) |  | 31,915 |
Total revenue | 5 |  |  | 5,689 |  |  | 483,988 |  |  | (6,706 | ) |  | 482,976 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 695 |  |  | — |  |  | 318,520 |  |  | — |  |  | 319,215 |
Occupancy and equipment costs | — |  |  | — |  |  | 34,790 |  |  | (84 | ) |  | 34,706 |
Communications and technology | 58 |  |  | — |  |  | 31,824 |  |  | — |  |  | 31,882 |
Interest | 8,750 |  |  | — |  |  | 10,690 |  |  | (5,435 | ) |  | 14,005 |
Clearing and exchange fees | — |  |  | — |  |  | 12,335 |  |  | — |  |  | 12,335 |
Other | 760 |  |  | 19 |  |  | 58,854 |  |  | (1,187 | ) |  | 58,446 |
Total expenses | 10,263 |  |  | 19 |  |  | 467,013 |  |  | (6,706 | ) |  | 470,589 |
Income (loss) before income taxes | (10,258 | ) |  | 5,670 |  |  | 16,975 |  |  | — |  |  | 12,387 |
Income tax provision (benefit) | (3,931 | ) |  | 1,894 |  |  | 7,465 |  |  | — |  |  | 5,428 |
Net income (loss) for the period | (6,327 | ) |  | 3,776 |  |  | 9,510 |  |  | — |  |  | 6,959 |
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 448 |  |  | — |  |  | 448 |
Equity in subsidiaries | 12,838 |  |  | — |  |  | — |  |  | (12,838 | ) |  | — |
Net income attributable to Oppenheimer Holdings Inc. | 6,511 |  |  | 3,776 |  |  | 9,062 |  |  | (12,838 | ) |  | 6,511 |
Other comprehensive income (loss) | (3 | ) |  | — |  |  | 503 |  |  | — |  |  | 500 |
Total comprehensive income | $ | 6,508 |  |  | $ | 3,776 |  |  | $ | 9,565 |  |  | $ | (12,838 | ) |  | $ | 7,011 |
Condensed Consolidating Statement of Cash Flows |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operations: |  |  |  |  |  |  |  |  |
Net income (loss) for the period | $ | (8,055 | ) |  | $ | 4,638 |  |  | $ | 5,584 |  |  | $ | — |  |  | $ | 2,167 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Depreciation and amortization of office facilities and leasehold improvements | — |  |  | — |  |  | 3,862 |  |  | — |  |  | 3,862 |
Deferred income taxes | — |  |  | — |  |  | 7,299 |  |  | — |  |  | 7,299 |
Amortization of notes receivable | — |  |  | — |  |  | 8,534 |  |  | — |  |  | 8,534 |
Amortization of debt issuance costs | 287 |  |  | — |  |  | — |  |  | — |  |  | 287 |
Write-off of debt issuance costs | 588 |  |  | — |  |  | — |  |  | — |  |  | 588 |
Amortization of mortgage servicing rights | — |  |  | — |  |  | 1,514 |  |  | — |  |  | 1,514 |
Provision for credit losses | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Share-based compensation expense | 232 |  |  | — |  |  | 3,247 |  |  | — |  |  | 3,479 |
Payment of taxes due for share-based awards | (2,074 | ) |  | — |  |  | — |  |  | — |  |  | (2,074 | )
Changes in operating assets and liabilities | 56,317 |  |  | (28,979 | ) |  | (66,397 | ) |  | — |  |  | (39,059 | )
Cash provided by (used in) continuing operations | 47,295 |  |  | (24,341 | ) |  | (36,344 | ) |  | — |  |  | (13,390 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchase of office facilities | — |  |  | — |  |  | (2,185 | ) |  | — |  |  | (2,185 | )
Cash used in investing activities | — |  |  | — |  |  | (2,185 | ) |  | — |  |  | (2,185 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (2,984 | ) |  | — |  |  | — |  |  | — |  |  | (2,984 | )
Issuance of Class A non-voting common stock | 185 |  |  | — |  |  | — |  |  | — |  |  | 185 |
Tax benefit from share-based awards | 1,254 |  |  | — |  |  | — |  |  | — |  |  | 1,254 |
Redemption of senior secured notes | (45,000 | ) |  | — |  |  | — |  |  | — |  |  | (45,000 | )
Other financing activities | — |  |  | — |  |  | 29,000 |  |  | — |  |  | 29,000 |
Cash flow provided by (used in) financing activities | (46,545 | ) |  | — |  |  | 29,000 |  |  | — |  |  | (17,545 | )
Net increase (decrease) in cash and cash equivalents | 750 |  |  | (24,341 | ) |  | (9,529 | ) |  | — |  |  | (33,120 | )
Cash and cash equivalents, beginning of the period | 448 |  |  | 30,901 |  |  | 66,945 |  |  | — |  |  | 98,294 |
Cash and cash equivalents, end of the period | $ | 1,198 |  |  | $ | 6,560 |  |  | $ | 57,416 |  |  | $ | — |  |  | $ | 65,174 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2013
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operations: |  |  |  |  |  |  |  |  |
Net income (loss) for the period | $ | (6,327 | ) |  | $ | 3,776 |  |  | $ | 9,510 |  |  | $ | — |  |  | $ | 6,959 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Depreciation and amortization of office facilities and leasehold improvements | — |  |  | — |  |  | 5,045 |  |  | — |  |  | 5,045 |
Deferred income taxes | — |  |  | — |  |  | 14,399 |  |  | — |  |  | 14,399 |
Amortization of notes receivable | — |  |  | — |  |  | 9,388 |  |  | — |  |  | 9,388 |
Amortization of debt issuance costs | 319 |  |  | — |  |  | — |  |  | — |  |  | 319 |
Amortization of mortgage servicing rights | — |  |  | — |  |  | 538 |  |  | — |  |  | 538 |
Provision for (reversal of) credit losses | — |  |  | — |  |  | (147 | ) |  | — |  |  | (147 | )
Share-based compensation expense | — |  |  | — |  |  | 3,280 |  |  | — |  |  | 3,280 |
Changes in operating assets and liabilities | 9,328 |  |  | (8,250 | ) |  | (146,738 | ) |  | — |  |  | (145,660 | )
Cash provided by (used in) continuing operations | 3,320 |  |  | (4,474 | ) |  | (104,725 | ) |  | — |  |  | (105,879 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |
Purchase of office facilities | — |  |  | — |  |  | (11,687 | ) |  | — |  |  | (11,687 | )
Cash used in investing activities | — |  |  | — |  |  | (11,687 | ) |  | — |  |  | (11,687 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (2,994 | ) |  | — |  |  | — |  |  | — |  |  | (2,994 | )
Repurchase of Class A non-voting common stock | (208 | ) |  | — |  |  | — |  |  | — |  |  | (208 | )
Other financing activities | — |  |  | — |  |  | 91,500 |  |  | — |  |  | 91,500 |
Cash flow provided by (used in) financing activities | (3,202 | ) |  | — |  |  | 91,500 |  |  | — |  |  | 88,298 |
Net increase (decrease) in cash and cash equivalents | 118 |  |  | (4,474 | ) |  | (24,912 | ) |  | — |  |  | (29,268 | )
Cash and cash equivalents, beginning of the period | 35 |  |  | 40,658 |  |  | 94,673 |  |  | — |  |  | 135,366 |
Cash and cash equivalents, end of the period | $ | 153 |  |  | $ | 36,184 |  |  | $ | 69,761 |  |  | $ | — |  |  | $ | 106,098 |

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