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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheet |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1 |  |  | $ | 1,993 |  |  | $ | 64,924 |  |  | $ | — |  |  | $ | 66,918 |
Cash and securities segregated for regulatory and other purposes | — |  |  | — |  |  | 1,517 |  |  | — |  |  | 1,517 |
Deposits with clearing organizations | — |  |  | — |  |  | 50,258 |  |  | — |  |  | 50,258 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 338,103 |  |  | — |  |  | 338,103 |
Receivable from customers, net of allowance for credit losses of $2,439 | — |  |  | — |  |  | 890,260 |  |  | — |  |  | 890,260 |
Income tax receivable | 29,280 |  |  | 27,439 |  |  | — |  |  | (50,390 | ) |  | 6,329 |
Securities owned, including amounts pledged of $501,643, at fair value | — |  |  | 5,080 |  |  | 950,283 |  |  | — |  |  | 955,363 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $35,596 and $9,062, respectively | — |  |  | — |  |  | 34,995 |  |  | — |  |  | 34,995 |
Office facilities, net of accumulated depreciation of $105,809 | — |  |  | 19,748 |  |  | 8,521 |  |  | — |  |  | 28,269 |
Loans held for sale, at fair value | — |  |  | — |  |  | 95,876 |  |  | — |  |  | 95,876 |
Mortgage servicing rights | — |  |  | — |  |  | 28,391 |  |  | — |  |  | 28,391 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 31,700 |  |  | — |  |  | 31,700 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 1,634 |  |  | 3,384 |  |  | 113,500 |  |  | — |  |  | 118,518 |
Deferred tax assets | 287 |  |  | 309 |  |  | 22,592 |  |  | (23,188 | ) |  | — |
Investment in subsidiaries | 572,836 |  |  | 548,333 |  |  | — |  |  | (1,121,169 | ) |  | — |
Intercompany receivables | 84,727 |  |  |  |  |  | — |  |  | (84,727 | ) |  | — |
Total assets | $ | 688,765 |  |  | $ | 718,844 |  |  | $ | 2,768,809 |  |  | $ | (1,392,032 | ) |  | $ | 2,784,386 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 34,615 |  |  | $ | — |  |  | $ | 34,615 |
Bank call loans | — |  |  | — |  |  | 101,400 |  |  | — |  |  | 101,400 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 350,230 |  |  | — |  |  | 350,230 |
Payable to customers | — |  |  | — |  |  | 704,087 |  |  | — |  |  | 704,087 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 397,389 |  |  | — |  |  | 397,389 |
Securities sold, but not yet purchased, at fair value | — |  |  | — |  |  | 184,649 |  |  | — |  |  | 184,649 |
Accrued compensation | — |  |  | — |  |  | 102,668 |  |  | — |  |  | 102,668 |
Accounts payable and other liabilities | 6,146 |  |  | 35,805 |  |  | 161,542 |  |  | — |  |  | 203,493 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 25,761 |  |  | (50,390 | ) |  | — |
Senior secured notes | 150,000 |  |  | — |  |  | — |  |  | — |  |  | 150,000 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | 73 |  |  | 42,301 |  |  | (23,188 | ) |  | 19,186 |
Intercompany payables | — |  |  | 71,592 |  |  | 13,135 |  |  | (84,727 | ) |  | — |
Total liabilities | 158,586 |  |  | 129,659 |  |  | 2,230,335 |  |  | (270,863 | ) |  | 2,247,717 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. | 530,179 |  |  | 589,185 |  |  | 531,984 |  |  | (1,121,169 | ) |  | 530,179 |
Noncontrolling interest | — |  |  | — |  |  | 6,490 |  |  | — |  |  | 6,490 |
Total stockholders’ equity | 530,179 |  |  | 589,185 |  |  | 538,474 |  |  | (1,121,169 | ) |  | 536,669 |
Total liabilities and stockholders’ equity | $ | 688,765 |  |  | $ | 718,844 |  |  | $ | 2,768,809 |  |  | $ | (1,392,032 | ) |  | $ | 2,784,386 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 439 |  |  | $ | 1,557 |  |  | $ | 61,811 |  |  | $ | — |  |  | $ | 63,807 |
Cash and securities segregated for regulatory and other purposes | — |  |  | — |  |  | 18,594 |  |  | — |  |  | 18,594 |
Deposits with clearing organizations | — |  |  | — |  |  | 36,510 |  |  | — |  |  | 36,510 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 314,475 |  |  | — |  |  | 314,475 |
Receivable from customers, net of allowance for credit losses of $2,427 | — |  |  | — |  |  | 864,189 |  |  | — |  |  | 864,189 |
Income tax receivable | 28,070 |  |  | 27,304 |  |  | — |  |  | (51,134 | ) |  | 4,240 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 251,606 |  |  | — |  |  | 251,606 |
Securities owned, including amounts pledged of $518,123, at fair value | — |  |  | 5,806 |  |  | 837,349 |  |  | — |  |  | 843,155 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $42,211 and $8,606, respectively | — |  |  | — |  |  | 34,932 |  |  | — |  |  | 34,932 |
Office facilities, net of accumulated depreciation of $103,547 | — |  |  | 20,181 |  |  | 9,408 |  |  | — |  |  | 29,589 |
Loans held for sale, at fair value | — |  |  | — |  |  | 19,243 |  |  | — |  |  | 19,243 |
Mortgage servicing rights | — |  |  | — |  |  | 30,140 |  |  | — |  |  | 30,140 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 31,700 |  |  | — |  |  | 31,700 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 1,686 |  |  | 3,803 |  |  | 101,897 |  |  | — |  |  | 107,386 |
Deferred tax assets | 18 |  |  | 309 |  |  | 27,973 |  |  | (28,300 | ) |  | — |
Investment in subsidiaries | 565,257 |  |  | 544,576 |  |  | — |  |  | (1,109,833 | ) |  | — |
Intercompany receivables | 87,442 |  |  | — |  |  | — |  |  | (87,442 | ) |  | — |
Total assets | $ | 682,912 |  |  | $ | 716,094 |  |  | $ | 2,777,716 |  |  | $ | (1,389,267 | ) |  | $ | 2,787,455 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 35,373 |  |  | $ | — |  |  | $ | 35,373 |
Bank call loans | — |  |  | — |  |  | 59,400 |  |  | — |  |  | 59,400 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 257,161 |  |  | — |  |  | 257,161 |
Payable to customers | — |  |  | — |  |  | 652,256 |  |  | — |  |  | 652,256 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 687,440 |  |  | — |  |  | 687,440 |
Securities sold, but not yet purchased, at fair value | — |  |  | — |  |  | 92,510 |  |  | — |  |  | 92,510 |
Accrued compensation | — |  |  | — |  |  | 165,134 |  |  | — |  |  | 165,134 |
Accounts payable and other liabilities | 2,828 |  |  | 35,800 |  |  | 102,724 |  |  | — |  |  | 141,352 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 26,505 |  |  | (51,134 | ) |  | — |
Senior secured notes | 150,000 |  |  | — |  |  | — |  |  | — |  |  | 150,000 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | 88 |  |  | 41,309 |  |  | (28,300 | ) |  | 13,097 |
Intercompany payables | — |  |  | 76,492 |  |  | 10,950 |  |  | (87,442 | ) |  | — |
Total liabilities | 155,268 |  |  | 134,569 |  |  | 2,243,320 |  |  | (279,434 | ) |  | 2,253,723 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. | 527,644 |  |  | 581,525 |  |  | 528,308 |  |  | (1,109,833 | ) |  | 527,644 |
Noncontrolling interest | — |  |  | — |  |  | 6,088 |  |  | — |  |  | 6,088 |
Total stockholders’ equity | 527,644 |  |  | 581,525 |  |  | 534,396 |  |  | (1,109,833 | ) |  | 533,732 |
Total liabilities and stockholders’ equity | $ | 682,912 |  |  | $ | 716,094 |  |  | $ | 2,777,716 |  |  | $ | (1,389,267 | ) |  | $ | 2,787,455 |
Condensed Consolidating Statement of Operations |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 109,695 |  |  | $ | — |  |  | $ | 109,695 |
Advisory fees | — |  |  | — |  |  | 71,420 |  |  | (454 | ) |  | 70,966 |
Investment banking | — |  |  | — |  |  | 27,305 |  |  | — |  |  | 27,305 |
Interest | — |  |  | 2,566 |  |  | 11,033 |  |  | (2,564 | ) |  | 11,035 |
Principal transactions, net | — |  |  | — |  |  | 18,609 |  |  | (54 | ) |  | 18,555 |
Other | — |  |  | 95 |  |  | 7,985 |  |  | (75 | ) |  | 8,005 |
Total revenue | — |  |  | 2,661 |  |  | 246,047 |  |  | (3,147 | ) |  | 245,561 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 312 |  |  | — |  |  | 162,779 |  |  | — |  |  | 163,091 |
Communications and technology | 25 |  |  | — |  |  | 17,143 |  |  | — |  |  | 17,168 |
Occupancy and equipment costs | — |  |  | — |  |  | 15,853 |  |  | (75 | ) |  | 15,778 |
Clearing and exchange fees | — |  |  | — |  |  | 6,402 |  |  | — |  |  | 6,402 |
Interest | 3,281 |  |  | — |  |  | 3,193 |  |  | (2,564 | ) |  | 3,910 |
Other | 288 |  |  | 68 |  |  | 29,513 |  |  | (508 | ) |  | 29,361 |
Total expenses | 3,906 |  |  | 68 |  |  | 234,883 |  |  | (3,147 | ) |  | 235,710 |
Income (loss) before income tax provision (benefit) | (3,906 | ) |  | 2,593 |  |  | 11,164 |  |  | — |  |  | 9,851 |
Income tax provision (benefit) | (1,480 | ) |  | 847 |  |  | 4,363 |  |  | — |  |  | 3,730 |
Equity in earnings of subsidiaries | 8,145 |  |  | 6,399 |  |  | — |  |  | (14,544 | ) |  | — |
Net income for the period | 5,719 |  |  | 8,145 |  |  | 6,801 |  |  | (14,544 | ) |  | 6,121 |
Less net income attributable to noncontrolling interest, net of tax | — |  |  | — |  |  | 402 |  |  | — |  |  | 402 |
Net income attributable to Oppenheimer Holdings Inc. | 5,719 |  |  | 8,145 |  |  | 6,399 |  |  | (14,544 | ) |  | 5,719 |
Other comprehensive loss | — |  |  | — |  |  | (567 | ) |  | — |  |  | (567 | )
Total comprehensive income | $ | 5,719 |  |  | $ | 8,145 |  |  | $ | 5,832 |  |  | $ | (14,544 | ) |  | $ | 5,152 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 122,138 |  |  | $ | — |  |  | $ | 122,138 |
Advisory fees | — |  |  | — |  |  | 68,575 |  |  | (370 | ) |  | 68,205 |
Investment banking | — |  |  | — |  |  | 33,524 |  |  | — |  |  | 33,524 |
Interest | — |  |  | 2,733 |  |  | 12,367 |  |  | (2,710 | ) |  | 12,390 |
Principal transactions, net | — |  |  | 40 |  |  | 8,777 |  |  | — |  |  | 8,817 |
Other | — |  |  | 216 |  |  | 10,094 |  |  | (216 | ) |  | 10,094 |
Total revenue | — |  |  | 2,989 |  |  | 255,475 |  |  | (3,296 | ) |  | 255,168 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 315 |  |  | — |  |  | 171,635 |  |  | — |  |  | 171,950 |
Communications and technology | 27 |  |  | — |  |  | 16,707 |  |  | — |  |  | 16,734 |
Occupancy and equipment costs | — |  |  | — |  |  | 15,613 |  |  | (216 | ) |  | 15,397 |
Clearing and exchange fees | — |  |  | — |  |  | 5,892 |  |  | — |  |  | 5,892 |
Interest | 4,375 |  |  | — |  |  | 3,499 |  |  | (2,710 | ) |  | 5,164 |
Other | 344 |  |  | 2 |  |  | 34,946 |  |  | (370 | ) |  | 34,922 |
Total expenses | 5,061 |  |  | 2 |  |  | 248,292 |  |  | (3,296 | ) |  | 250,059 |
Income (loss) before income tax provision (benefit) | (5,061 | ) |  | 2,987 |  |  | 7,183 |  |  | — |  |  | 5,109 |
Income tax provision (benefit) | (1,911 | ) |  | (138 | ) |  | 3,738 |  |  | — |  |  | 1,689 |
Equity in earnings of subsidiaries (1) | 6,374 |  |  | 3,249 |  |  | — |  |  | (9,623 | ) |  | — |
Net income for the period | 3,224 |  |  | 6,374 |  |  | 3,445 |  |  | (9,623 | ) |  | 3,420 |
Less net income attributable to noncontrolling interest, net of tax | — |  |  | — |  |  | 196 |  |  | — |  |  | 196 |
Net income attributable to Oppenheimer Holdings Inc. | 3,224 |  |  | 6,374 |  |  | 3,249 |  |  | (9,623 | ) |  | 3,224 |
Other comprehensive loss | — |  |  | — |  |  | (87 | ) |  | — |  |  | (87 | )
Total comprehensive income | $ | 3,224 |  |  | $ | 6,374 |  |  | $ | 3,162 |  |  | $ | (9,623 | ) |  | $ | 3,137 |
Condensed Consolidating Statement of Cash Flows |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 1,394 |  |  | $ | 436 |  |  | $ | (38,413 | ) |  | $ | — |  |  | $ | (36,583 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of office facilities | — |  |  | — |  |  | (474 | ) |  | — |  |  | (474 | )
Cash used in investing activities | — |  |  | — |  |  | (474 | ) |  | — |  |  | (474 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (1,511 | ) |  | — |  |  | — |  |  | — |  |  | (1,511 | )
Tax deficiency from share-based awards | (321 | ) |  | — |  |  | — |  |  | — |  |  | (321 | )
Increase in bank call loans, net | — |  |  | — |  |  | 42,000 |  |  | — |  |  | 42,000 |
Cash flow provided by (used in) financing activities | (1,832 | ) |  | — |  |  | 42,000 |  |  | — |  |  | 40,168 |
Net increase (decrease) in cash and cash equivalents | (438 | ) |  | 436 |  |  | 3,113 |  |  | — |  |  | 3,111 |
Cash and cash equivalents, beginning of the period | 439 |  |  | 1,557 |  |  | 61,811 |  |  | — |  |  | 63,807 |
Cash and cash equivalents, end of the period | $ | 1 |  |  | $ | 1,993 |  |  | $ | 64,924 |  |  | $ | — |  |  | $ | 66,918 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2014
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 209 |  |  | $ | 27,296 |  |  | $ | (80,101 | ) |  | $ | — |  |  | $ | (52,596 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of office facilities | — |  |  | — |  |  | (1,397 | ) |  | — |  |  | (1,397 | )
Cash used in investing activities | — |  |  | — |  |  | (1,397 | ) |  | — |  |  | (1,397 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (1,486 | ) |  | — |  |  | — |  |  | — |  |  | (1,486 | )
Issuance of Class A non-voting common stock | 185 |  |  | — |  |  | — |  |  | — |  |  | 185 |
Tax benefit from share-based awards | 1,242 |  |  | — |  |  | — |  |  | — |  |  | 1,242 |
Increase in bank call loans, net | — |  |  | — |  |  | 78,800 |  |  | — |  |  | 78,800 |
Cash flow provided by (used in) financing activities | (59 | ) |  | — |  |  | 78,800 |  |  | — |  |  | 78,741 |
Net increase (decrease) in cash and cash equivalents | 150 |  |  | 27,296 |  |  | (2,698 | ) |  | — |  |  | 24,748 |
Cash and cash equivalents, beginning of the period | 448 |  |  | 30,901 |  |  | 66,945 |  |  | — |  |  | 98,294 |
Cash and cash equivalents, end of the period | $ | 598 |  |  | $ | 58,197 |  |  | $ | 64,247 |  |  | $ | — |  |  | $ | 123,042 |

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