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Supplemental Guarantor Consolidated Financial Statements (Tables) | 9 Months Ended
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Sep. 30, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Income Statement | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 245,935 |  |  | $ | — |  |  | $ | 245,935 |
Advisory fees | — |  |  | — |  |  | 233,953 |  |  | (981 | ) |  | 232,972 |
Investment banking | — |  |  | — |  |  | 84,442 |  |  | — |  |  | 84,442 |
Bank deposit sweep income | — |  |  | — |  |  | 84,203 |  |  | — |  |  | 84,203 |
Interest | 4 |  |  | 6,183 |  |  | 38,732 |  |  | (6,233 | ) |  | 38,686 |
Principal transactions, net | — |  |  | — |  |  | 9,149 |  |  | (39 | ) |  | 9,110 |
Other | — |  |  | 345 |  |  | 19,549 |  |  | (342 | ) |  | 19,552 |
Total revenue | 4 |  |  | 6,528 |  |  | 715,963 |  |  | (7,595 | ) |  | 714,900 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 1,191 |  |  | — |  |  | 456,630 |  |  | — |  |  | 457,821 |
Communications and technology | 123 |  |  | — |  |  | 55,164 |  |  | — |  |  | 55,287 |
Occupancy and equipment costs | — |  |  | — |  |  | 45,777 |  |  | (342 | ) |  | 45,435 |
Clearing and exchange fees | — |  |  | — |  |  | 17,254 |  |  |  |  |  | 17,254 |
Interest | 10,125 |  |  | — |  |  | 28,895 |  |  | (6,233 | ) |  | 32,787 |
Other | 883 |  |  | 1,372 |  |  | 75,811 |  |  | (1,020 | ) |  | 77,046 |
Total expenses | 12,322 |  |  | 1,372 |  |  | 679,531 |  |  | (7,595 | ) |  | 685,630 |
Income (Loss) before income taxes | (12,318 | ) |  | 5,156 |  |  | 36,432 |  |  | — |  |  | 29,270 |
Income taxes | (3,081 | ) |  | 1,112 |  |  | 10,630 |  |  | — |  |  | 8,661 |
Net income (loss) from continuing operations | (9,237 | ) |  | 4,044 |  |  | 25,802 |  |  | — |  |  | 20,609 |
Equity in earnings of subsidiaries | 29,868 |  |  | 25,824 |  |  | — |  |  | (55,692 | ) |  | — |
Net income | 20,631 |  |  | 29,868 |  |  | 25,802 |  |  | (55,692 | ) |  | 20,609 |
Less net loss attributable to non-controlling interest, net of tax | — |  |  | — |  |  | (22 | ) |  | — |  |  | (22 | )
Net income attributable to Oppenheimer Holdings Inc. | 20,631 |  |  | 29,868 |  |  | 25,824 |  |  | (55,692 | ) |  | 20,631 |
Other comprehensive loss | — |  |  | — |  |  | (880 | ) |  | — |  |  | (880 | )
Total comprehensive income | $ | 20,631 |  |  | $ | 29,868 |  |  | $ | 24,944 |  |  | $ | (55,692 | ) |  | $ | 19,751 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 248,204 |  |  | $ | — |  |  | $ | 248,204 |
Advisory fees | — |  |  | — |  |  | 217,510 |  |  | (989 | ) |  | 216,521 |
Investment banking | — |  |  | — |  |  | 60,347 |  |  | (3,000 | ) |  | 57,347 |
Bank deposit sweep income | — |  |  | — |  |  | 52,992 |  |  | — |  |  | 52,992 |
Interest | — |  |  | 7,529 |  |  | 36,379 |  |  | (7,562 | ) |  | 36,346 |
Principal transactions, net | — |  |  | 17 |  |  | 15,793 |  |  | — |  |  | 15,810 |
Other | 22 |  |  | 267 |  |  | 28,122 |  |  | (266 | ) |  | 28,145 |
Total revenue | 22 |  |  | 7,813 |  |  | 659,347 |  |  | (11,817 | ) |  | 655,365 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 976 |  |  | — |  |  | 427,649 |  |  | — |  |  | 428,625 |
Communications and technology | 112 |  |  | — |  |  | 53,774 |  |  | — |  |  | 53,886 |
Occupancy and equipment costs | — |  |  | — |  |  | 45,987 |  |  | (266 | ) |  | 45,721 |
Clearing and exchange fees | — |  |  | — |  |  | 17,392 |  |  | — |  |  | 17,392 |
Interest | 10,365 |  |  | — |  |  | 15,907 |  |  | (7,562 | ) |  | 18,710 |
Other | 4,661 |  |  | 329 |  |  | 86,864 |  |  | (3,989 | ) |  | 87,865 |
Total expenses | 16,114 |  |  | 329 |  |  | 647,573 |  |  | (11,817 | ) |  | 652,199 |
Income (Loss) before income taxes | (16,092 | ) |  | 7,484 |  |  | 11,774 |  |  | — |  |  | 3,166 |
Income taxes | (6,184 | ) |  | 2,860 |  |  | 5,788 |  |  | — |  |  | 2,464 |
Net income (loss) from continuing operations | (9,908 | ) |  | 4,624 |  |  | 5,986 |  |  | — |  |  | 702 |
Discontinued operations |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | — |  |  | 1,834 |  |  | — |  |  | 1,834 |
Income taxes | — |  |  | — |  |  | 733 |  |  | — |  |  | 733 |
Net income from discontinued operations | — |  |  | — |  |  | 1,101 |  |  | — |  |  | 1,101 |
Equity in earnings of subsidiaries | 11,531 |  |  | 6,907 |  |  | — |  |  | (18,438 | ) |  | — |
Net income | 1,623 |  |  | 11,531 |  |  | 7,087 |  |  | (18,438 | ) |  | 1,803 |
Less net income attributable to non-controlling interest, net of tax | — |  |  | — |  |  | 180 |  |  | — |  |  | 180 |
Net income attributable to Oppenheimer Holdings Inc. | 1,623 |  |  | 11,531 |  |  | 6,907 |  |  | (18,438 | ) |  | 1,623 |
Other comprehensive income | — |  |  | — |  |  | 1,953 |  |  | — |  |  | 1,953 |
Total comprehensive income | $ | 1,623 |  |  | $ | 11,531 |  |  | $ | 8,860 |  |  | $ | (18,438 | ) |  | $ | 3,576 |
Condensed Consolidating Balance Sheet | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 479 |  |  | $ | 4,653 |  |  | $ | 32,399 |  |  | $ | — |  |  | $ | 37,531 |
Deposits with clearing organizations | — |  |  | — |  |  | 53,956 |  |  | — |  |  | 53,956 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 205,031 |  |  | — |  |  | 205,031 |
Receivable from customers, net of allowance for credit losses of $859 | — |  |  | — |  |  | 797,751 |  |  | — |  |  | 797,751 |
Income tax receivable | 47,898 |  |  | 24,284 |  |  | — |  |  | (68,687 | ) |  | 3,495 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 1,502 |  |  | — |  |  | 1,502 |
Securities owned, including amounts pledged of $738,835, at fair value | — |  |  | 1,369 |  |  | 893,882 |  |  | — |  |  | 895,251 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,334 and $7,126, respectively | — |  |  | — |  |  | 43,278 |  |  | — |  |  | 43,278 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $87,165 | — |  |  | 21,333 |  |  | 7,509 |  |  | — |  |  | 28,842 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 100 |  |  | 2,580 |  |  | 116,979 |  |  | — |  |  | 119,659 |
Deferred tax assets | 66 |  |  | 116 |  |  | 19,654 |  |  | (19,836 | ) |  | — |
Investment in subsidiaries | 651,369 |  |  | 534,754 |  |  | — |  |  | (1,186,123 | ) |  | — |
Intercompany receivables | 48,592 |  |  | 48,042 |  |  | — |  |  | (96,634 | ) |  | — |
Total assets | $ | 748,504 |  |  | $ | 750,089 |  |  | $ | 2,341,530 |  |  | $ | (1,483,838 | ) |  | $ | 2,356,285 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 29,242 |  |  | $ | — |  |  | $ | 29,242 |
Bank call loans | — |  |  | — |  |  | 3,000 |  |  | — |  |  | 3,000 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 219,443 |  |  | — |  |  | 219,443 |
Payable to customers | — |  |  | — |  |  | 351,750 |  |  | — |  |  | 351,750 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 606,010 |  |  | — |  |  | 606,010 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 143,746 |  |  | — |  |  | 143,746 |
Accrued compensation | — |  |  | — |  |  | 151,658 |  |  | — |  |  | 151,658 |
Accounts payable and other liabilities | 3,495 |  |  | 31,945 |  |  | 60,380 |  |  | — |  |  | 95,820 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 44,058 |  |  | (68,687 | ) |  | — |
Senior secured notes, net of debt issuance cost of $969 | 199,031 |  |  | — |  |  | — |  |  | — |  |  | 199,031 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | — |  |  | 32,544 |  |  | (19,836 | ) |  | 12,708 |
Intercompany payables | — |  |  | 28,141 |  |  | 68,493 |  |  | (96,634 | ) |  | — |
Total liabilities | 204,966 |  |  | 82,275 |  |  | 1,822,882 |  |  | (297,715 | ) |  | 1,812,408 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Stockholders' equity attributable to Oppenheimer Holdings Inc. | 543,538 |  |  | 667,814 |  |  | 518,309 |  |  | (1,186,123 | ) |  | 543,538 |
Non-controlling interest | — |  |  | — |  |  | 339 |  |  | — |  |  | 339 |
Total stockholders' equity | 543,538 |  |  | 667,814 |  |  | 518,648 |  |  | (1,186,123 | ) |  | 543,877 |
Total liabilities and stockholders' equity | $ | 748,504 |  |  | $ | 750,089 |  |  | $ | 2,341,530 |  |  | $ | (1,483,838 | ) |  | $ | 2,356,285 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7,442 |  |  | $ | 3,716 |  |  | $ | 36,996 |  |  | $ | — |  |  | $ | 48,154 |
Deposits with clearing organizations | — |  |  | — |  |  | 42,222 |  |  | — |  |  | 42,222 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 187,115 |  |  | — |  |  | 187,115 |
Receivable from customers, net of allowance for credit losses of $769 | — |  |  | — |  |  | 848,226 |  |  | — |  |  | 848,226 |
Income tax receivable | 45,998 |  |  | 26,025 |  |  | — |  |  | (69,084 | ) |  | 2,939 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 658 |  |  | — |  |  | 658 |
Securities owned, including amounts pledged of $655,683, at fair value | — |  |  | 1,386 |  |  | 925,211 |  |  | — |  |  | 926,597 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,705 and $7,975, respectively | — |  |  | — |  |  | 40,520 |  |  | — |  |  | 40,520 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $82,826 | — |  |  | 20,221 |  |  | 6,966 |  |  | — |  |  | 27,187 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 31,700 |  |  | — |  |  | 31,700 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 133 |  |  | 2,573 |  |  | 142,604 |  |  | — |  |  | 145,310 |
Deferred tax assets | 3,502 |  |  | — |  |  | 18,463 |  |  | (21,965 | ) |  | — |
Investment in subsidiaries | 622,824 |  |  | 507,747 |  |  | — |  |  | (1,130,571 | ) |  | — |
Intercompany receivables | 52,149 |  |  | 83,437 |  |  | — |  |  | (135,586 | ) |  | — |
Total assets | $ | 732,048 |  |  | $ | 757,663 |  |  | $ | 2,418,570 |  |  | $ | (1,469,764 | ) |  | $ | 2,438,517 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 42,412 |  |  | $ | — |  |  | $ | 42,412 |
Bank call loans | — |  |  | — |  |  | 118,300 |  |  | — |  |  | 118,300 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 211,483 |  |  | — |  |  | 211,483 |
Payable to customers | — |  |  | — |  |  | 385,907 |  |  | — |  |  | 385,907 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 586,478 |  |  | — |  |  | 586,478 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 94,486 |  |  | — |  |  | 94,486 |
Accrued compensation | — |  |  | — |  |  | 173,116 |  |  | — |  |  | 173,116 |
Accounts payable and other liabilities | 7,221 |  |  | 33,994 |  |  | 51,280 |  |  | — |  |  | 92,495 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 44,455 |  |  | (69,084 | ) |  | — |
Senior secured notes, net of debt issuance costs of $1,163 | 198,837 |  |  | — |  |  | — |  |  | — |  |  | 198,837 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | 17 |  |  | 33,040 |  |  | (21,965 | ) |  | 11,092 |
Intercompany payables | — |  |  | 62,163 |  |  | 73,423 |  |  | (135,586 | ) |  | — |
Total liabilities | 208,498 |  |  | 118,363 |  |  | 1,926,938 |  |  | (339,193 | ) |  | 1,914,606 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Stockholders' equity attributable to Oppenheimer Holdings Inc. | 523,550 |  |  | 639,300 |  |  | 491,271 |  |  | (1,130,571 | ) |  | 523,550 |
Non-controlling interest | — |  |  | — |  |  | 361 |  |  | — |  |  | 361 |
Total stockholders' equity | 523,550 |  |  | 639,300 |  |  | 491,632 |  |  | (1,130,571 | ) |  | 523,911 |
Total liabilities and stockholders' equity | $ | 732,048 |  |  | $ | 757,663 |  |  | $ | 2,418,570 |  |  | $ | (1,469,764 | ) |  | $ | 2,438,517 |
Condensed Consolidating Statement of Cash Flows | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | (131 | ) |  | $ | 1,337 |  |  | $ | 117,073 |  |  | $ | — |  |  | $ | 118,279 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (6,654 | ) |  | — |  |  | (6,654 | )
Purchase of tangible assets | — |  |  | (400 | ) |  | — |  |  | — |  |  | (400 | )
Proceeds from the settlement of Company-owned life insurance | — |  |  | — |  |  | 284 |  |  | — |  |  | 284 |
Cash used in investing activities | — |  |  | (400 | ) |  | (6,370 | ) |  | — |  |  | (6,770 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (4,373 | ) |  | — |  |  | — |  |  | — |  |  | (4,373 | )
Issuance of Class A non-voting common stock | 70 |  |  | — |  |  | — |  |  | — |  |  | 70 |
Payments for employee taxes withheld related to vested share-based awards | (2,529 | ) |  | — |  |  | — |  |  | — |  |  | (2,529 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (115,300 | ) |  | — |  |  | (115,300 | )
Cash used in financing activities | (6,832 | ) |  | — |  |  | (115,300 | ) |  | — |  |  | (122,132 | )
Net increase (decrease) in cash and cash equivalents | (6,963 | ) |  | 937 |  |  | (4,597 | ) |  | — |  |  | (10,623 | )
Cash and cash equivalents, beginning of the period | 7,442 |  |  | 3,716 |  |  | 36,996 |  |  | — |  |  | 48,154 |
Cash and cash equivalents, end of the period | $ | 479 |  |  | $ | 4,653 |  |  | $ | 32,399 |  |  | $ | — |  |  | $ | 37,531 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | (34,449 | ) |  | $ | 1,679 |  |  | $ | (1,616 | ) |  | $ | — |  |  | $ | (34,386 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (3,506 | ) |  | — |  |  | (3,506 | )
Proceeds from settlement of company-owned life insurance | — |  |  | — |  |  | 1,194 |  |  | — |  |  | 1,194 |
Cash used in investing activities | — |  |  | — |  |  | (2,312 | ) |  | — |  |  | (2,312 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (4,394 | ) |  | — |  |  | — |  |  | — |  |  | (4,394 | )
Cash dividends paid to non-controlling interest | — |  |  | — |  |  | (2,448 | ) |  | — |  |  | (2,448 | )
Repurchase of Class A non-voting common stock for cancellation | (7,464 | ) |  | — |  |  | — |  |  | — |  |  | (7,464 | )
Payments for employee taxes withheld related to vested share-based awards | (2,232 | ) |  | — |  |  | — |  |  | — |  |  | (2,232 | )
Issuance of senior secured notes | 200,000 |  |  | — |  |  | — |  |  | — |  |  | 200,000 |
Redemption of senior secured notes | (150,000 | ) |  | — |  |  | — |  |  | — |  |  | (150,000 | )
Debt issuance costs | (1,183 | ) |  | — |  |  | — |  |  | — |  |  | (1,183 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (15,700 | ) |  | — |  |  | (15,700 | )
Cash provided by (used in) financing activities | 34,727 |  |  | — |  |  | (18,148 | ) |  | — |  |  | 16,579 |
Net increase (decrease) in cash and cash equivalents | 278 |  |  | 1,679 |  |  | (22,076 | ) |  | — |  |  | (20,119 | )
Cash and cash equivalents, beginning of the period | 229 |  |  | 10,284 |  |  | 54,400 |  |  | — |  |  | 64,913 |
Cash and cash equivalents, end of the period | $ | 507 |  |  | $ | 11,963 |  |  | $ | 32,324 |  |  | $ | — |  |  | $ | 44,794 |

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