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Condensed Consolidating Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheet |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 29 |  |  | $ | 2,685 |  |  | $ | 47,599 |  |  | $ | — |  |  | $ | 50,313 |
Cash and securities segregated for regulatory and other purposes | — |  |  | — |  |  | 855 |  |  | — |  |  | 855 |
Deposits with clearing organizations | — |  |  | — |  |  | 51,625 |  |  | — |  |  | 51,625 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 357,170 |  |  | — |  |  | 357,170 |
Receivable from customers, net of allowance for credit losses of $2,491 | — |  |  | — |  |  | 905,387 |  |  | — |  |  | 905,387 |
Income tax receivable | 31,083 |  |  | 27,572 |  |  | 3 |  |  | (54,371 | ) |  | 4,287 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 104,301 |  |  | — |  |  | 104,301 |
Securities owned, including amounts pledged of $704,168, at fair value | — |  |  | 4,630 |  |  | 1,000,520 |  |  | — |  |  | 1,005,150 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $48,448 and $9,135, respectively | — |  |  | — |  |  | 35,086 |  |  | — |  |  | 35,086 |
Office facilities, net of accumulated depreciation of $101,972 | — |  |  | 19,475 |  |  | 8,463 |  |  | — |  |  | 27,938 |
Loans held for sale, at fair value | — |  |  | — |  |  | 76,351 |  |  | — |  |  | 76,351 |
Mortgage servicing rights | — |  |  | — |  |  | 29,220 |  |  | — |  |  | 29,220 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 31,700 |  |  | — |  |  | 31,700 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 1,475 |  |  | 3,225 |  |  | 107,571 |  |  | — |  |  | 112,271 |
Deferred tax assets | 6 |  |  | 309 |  |  | 24,939 |  |  | (25,254 | ) |  | — |
Investment in subsidiaries | 576,771 |  |  | 545,046 |  |  | — |  |  | (1,121,817 | ) |  | — |
Intercompany receivables | 77,686 |  |  | — |  |  | — |  |  | (77,686 | ) |  | — |
Total assets | $ | 687,050 |  |  | $ | 715,500 |  |  | $ | 2,918,679 |  |  | $ | (1,391,686 | ) |  | $ | 2,929,543 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 4,054 |  |  | $ | — |  |  | $ | 4,054 |
Bank call loans | — |  |  | — |  |  | 177,500 |  |  | — |  |  | 177,500 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 238,007 |  |  | — |  |  | 238,007 |
Payable to customers | — |  |  | — |  |  | 654,241 |  |  | — |  |  | 654,241 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 623,852 |  |  | — |  |  | 623,852 |
Securities sold, but not yet purchased, at fair value | — |  |  | — |  |  | 220,667 |  |  | — |  |  | 220,667 |
Accrued compensation | — |  |  | — |  |  | 121,980 |  |  | — |  |  | 121,980 |
Accounts payable and other liabilities | 2,816 |  |  | 35,768 |  |  | 143,842 |  |  | — |  |  | 182,426 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 29,742 |  |  | (54,371 | ) |  | — |
Senior secured notes | 150,000 |  |  | — |  |  | — |  |  | — |  |  | 150,000 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | 71 |  |  | 43,365 |  |  | (25,254 | ) |  | 18,182 |
Intercompany payables | — |  |  | 64,289 |  |  | 13,397 |  |  | (77,686 | ) |  | — |
Total liabilities | 155,256 |  |  | 122,317 |  |  | 2,383,205 |  |  | (269,869 | ) |  | 2,390,909 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Stockholders’ equity attributable to Oppenheimer Holdings Inc. | 531,794 |  |  | 593,183 |  |  | 528,634 |  |  | (1,121,817 | ) |  | 531,794 |
Noncontrolling interest | — |  |  | — |  |  | 6,840 |  |  | — |  |  | 6,840 |
Total stockholders’ equity | 531,794 |  |  | 593,183 |  |  | 535,474 |  |  | (1,121,817 | ) |  | 538,634 |
Total liabilities and stockholders’ equity | $ | 687,050 |  |  | $ | 715,500 |  |  | $ | 2,918,679 |  |  | $ | (1,391,686 | ) |  | $ | 2,929,543 |
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 JUNE 30, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 103,556 |  |  | $ | — |  |  | $ | 103,556 |
Advisory fees | — |  |  | — |  |  | 72,654 |  |  | (411 | ) |  | 72,243 |
Investment banking | — |  |  | — |  |  | 29,020 |  |  | — |  |  | 29,020 |
Interest | — |  |  | 2,557 |  |  | 12,038 |  |  | (2,565 | ) |  | 12,030 |
Principal transactions, net | — |  |  | — |  |  | 1,740 |  |  | (30 | ) |  | 1,710 |
Other | — |  |  | 96 |  |  | 20,349 |  |  | (76 | ) |  | 20,369 |
Total revenue | — |  |  | 2,653 |  |  | 239,357 |  |  | (3,082 | ) |  | 238,928 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 263 |  |  | — |  |  | 157,951 |  |  | — |  |  | 158,214 |
Communications and technology | 42 |  |  | — |  |  | 16,365 |  |  | — |  |  | 16,407 |
Occupancy and equipment costs | — |  |  | — |  |  | 16,060 |  |  | (76 | ) |  | 15,984 |
Clearing and exchange fees | — |  |  | — |  |  | 6,231 |  |  | — |  |  | 6,231 |
Interest | 3,281 |  |  | — |  |  | 3,789 |  |  | (2,565 | ) |  | 4,505 |
Other | 258 |  |  | 45 |  |  | 35,095 |  |  | (441 | ) |  | 34,957 |
Total expenses | 3,844 |  |  | 45 |  |  | 235,491 |  |  | (3,082 | ) |  | 236,298 |
Income (loss) before income tax provision (benefit) | (3,844 | ) |  | 2,608 |  |  | 3,866 |  |  | — |  |  | 2,630 |
Income tax provision (benefit) | (1,521 | ) |  | 923 |  |  | 2,583 |  |  | — |  |  | 1,985 |
Equity in earnings of subsidiaries | 2,618 |  |  | 933 |  |  | — |  |  | (3,551 | ) |  | — |
Net income for the period | 295 |  |  | 2,618 |  |  | 1,283 |  |  | (3,551 | ) |  | 645 |
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 350 |  |  | — |  |  | 350 |
Net income attributable to Oppenheimer Holdings Inc. | 295 |  |  | 2,618 |  |  | 933 |  |  | (3,551 | ) |  | 295 |
Other comprehensive income | — |  |  | — |  |  | 1,317 |  |  | — |  |  | 1,317 |
Total comprehensive income | $ | 295 |  |  | $ | 2,618 |  |  | $ | 2,250 |  |  | $ | (3,551 | ) |  | $ | 1,612 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 213,251 |  |  | $ | — |  |  | $ | 213,251 |
Advisory fees | — |  |  | — |  |  | 144,074 |  |  | (865 | ) |  | 143,209 |
Investment banking | — |  |  | — |  |  | 56,325 |  |  | — |  |  | 56,325 |
Interest | — |  |  | 5,123 |  |  | 23,071 |  |  | (5,129 | ) |  | 23,065 |
Principal transactions, net | — |  |  | — |  |  | 20,349 |  |  | (84 | ) |  | 20,265 |
Other | — |  |  | 191 |  |  | 28,334 |  |  | (151 | ) |  | 28,374 |
Total revenue | — |  |  | 5,314 |  |  | 485,404 |  |  | (6,229 | ) |  | 484,489 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 575 |  |  | — |  |  | 320,730 |  |  | — |  |  | 321,305 |
Communications and technology | 67 |  |  | — |  |  | 33,508 |  |  | — |  |  | 33,575 |
Occupancy and equipment costs | — |  |  | — |  |  | 31,913 |  |  | (151 | ) |  | 31,762 |
Clearing and exchange fees | — |  |  | — |  |  | 12,633 |  |  | — |  |  | 12,633 |
Interest | 6,562 |  |  | — |  |  | 6,982 |  |  | (5,129 | ) |  | 8,415 |
Other | 546 |  |  | 113 |  |  | 64,608 |  |  | (949 | ) |  | 64,318 |
Total expenses | 7,750 |  |  | 113 |  |  | 470,374 |  |  | (6,229 | ) |  | 472,008 |
Income (loss) before income tax provision (benefit) | (7,750 | ) |  | 5,201 |  |  | 15,030 |  |  | — |  |  | 12,481 |
Income tax provision (benefit) | (3,001 | ) |  | 1,770 |  |  | 6,946 |  |  | — |  |  | 5,715 |
Equity in earnings of subsidiaries | 10,763 |  |  | 7,332 |  |  | — |  |  | (18,095 | ) |  | — |
Net income for the period | 6,014 |  |  | 10,763 |  |  | 8,084 |  |  | (18,095 | ) |  | 6,766 |
Less net income attributable to noncontrolling interest, net of tax | — |  |  | — |  |  | 752 |  |  | — |  |  | 752 |
Net income attributable to Oppenheimer Holdings Inc. | 6,014 |  |  | 10,763 |  |  | 7,332 |  |  | (18,095 | ) |  | 6,014 |
Other comprehensive income | — |  |  | — |  |  | 750 |  |  | — |  |  | 750 |
Total comprehensive income | $ | 6,014 |  |  | $ | 10,763 |  |  | $ | 8,082 |  |  | $ | (18,095 | ) |  | $ | 6,764 |
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 tax provision (benefit) | (7,628 | ) |  | 2,782 |  |  | 4,982 |  |  | — |  |  | 136 |
Income tax provision (benefit) | (2,723 | ) |  | 1,269 |  |  | 2,843 |  |  | — |  |  | 1,389 |
Equity in earnings of subsidiaries (1) | 3,351 |  |  | 1,838 |  |  | — |  |  | (5,189 | ) |  | — |
Net income (loss) for the period | (1,554 | ) |  | 3,351 |  |  | 2,139 |  |  | (5,189 | ) |  | (1,253 | )
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 301 |  |  | — |  |  | 301 |
Net income (loss) attributable to Oppenheimer Holdings Inc. | (1,554 | ) |  | 3,351 |  |  | 1,838 |  |  | (5,189 | ) |  | (1,554 | )
Other comprehensive income | — |  |  | — |  |  | 339 |  |  | — |  |  | 339 |
Total comprehensive income (loss) | $ | (1,554 | ) |  | $ | 3,351 |  |  | $ | 2,177 |  |  | $ | (5,189 | ) |  | $ | (1,215 | )
(1) | The Company revised amounts in Equity in Earnings of Subsidiaries in the Condensed Consolidating Statement of Operations to properly reflect investments in subsidiaries. Offsetting amounts were adjusted in the eliminations column.
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 tax provision (benefit) | (12,689 | ) |  | 5,769 |  |  | 12,165 |  |  | — |  |  | 5,245 |
Income tax provision (benefit) | (4,634 | ) |  | 1,131 |  |  | 6,581 |  |  | — |  |  | 3,078 |
Equity in earnings of subsidiaries (1) | 9,725 |  |  | 5,087 |  |  | — |  |  | (14,812 | ) |  | — |
Net income for the period | 1,670 |  |  | 9,725 |  |  | 5,584 |  |  | (14,812 | ) |  | 2,167 |
Less net income attributable to noncontrolling interest, net of tax | — |  |  | — |  |  | 497 |  |  | — |  |  | 497 |
Net income attributable to Oppenheimer Holdings Inc. | 1,670 |  |  | 9,725 |  |  | 5,087 |  |  | (14,812 | ) |  | 1,670 |
Other comprehensive income | — |  |  | — |  |  | 252 |  |  | — |  |  | 252 |
Total comprehensive income | $ | 1,670 |  |  | $ | 9,725 |  |  | $ | 5,339 |  |  | $ | (14,812 | ) |  | $ | 1,922 |
Condensed Consolidating Statement of Cash Flows |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 2,883 |  |  | $ | 1,128 |  |  | $ | (130,399 | ) |  | $ | — |  |  | $ | (126,388 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of office facilities | — |  |  | — |  |  | (1,913 | ) |  | — |  |  | (1,913 | )
Cash used in investing activities | — |  |  | — |  |  | (1,913 | ) |  | — |  |  | (1,913 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (3,023 | ) |  | — |  |  | — |  |  | — |  |  | (3,023 | )
Tax deficiency from share-based awards | (270 | ) |  | — |  |  | — |  |  | — |  |  | (270 | )
Increase in bank call loans, net | — |  |  | — |  |  | 118,100 |  |  | — |  |  | 118,100 |
Cash flow provided by (used in) financing activities | (3,293 | ) |  | — |  |  | 118,100 |  |  | — |  |  | 114,807 |
Net increase (decrease) in cash and cash equivalents | (410 | ) |  | 1,128 |  |  | (14,212 | ) |  | — |  |  | (13,494 | )
Cash and cash equivalents, beginning of the period | 439 |  |  | 1,557 |  |  | 61,811 |  |  | — |  |  | 63,807 |
Cash and cash equivalents, end of the period | $ | 29 |  |  | $ | 2,685 |  |  | $ | 47,599 |  |  | $ | — |  |  | $ | 50,313 |
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 operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 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 | )
Increase in bank call loans, net | — |  |  | — |  |  | 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 |

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