XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.19.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2019
Segment Reporting [Abstract] |
Segment Information | Segment information The Company has determined its reportable segments based on the Company's method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its segments and allocates resources to them based upon profitability. The Company's reportable segments are: Private Client — includes commissions and a proportionate amount of fee income earned on assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment. Asset Management — includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer's asset management divisions employ various programs to manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and Capital Markets — includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment. The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation and benefits. The table below presents information about the reported revenue and income (loss) before income taxes of the Company for the three months ended March 31, 2019 and 2018. Asset information by reportable segment is not reported, since the Company does not produce such information for internal use by the chief operating decision maker.
(Expressed in thousands) |  |  |
| For the Three Months Ended March 31,
| 2019 |  | 2018
Revenue |  |  |
Private client (1) | $ | 163,527 |  |  | $ | 154,094 |
Asset management (1) | 16,586 |  |  | 17,644 |
Capital markets | 70,961 |  |  | 61,529 |
Corporate/Other | 696 |  |  | 1,263 |
Total | $ | 251,770 |  |  | $ | 234,530 |
Income (loss) before income taxes |  |  |
Private client (1) | $ | 42,834 |  |  | $ | 40,162 |
Asset management (1) | 2,242 |  |  | 3,718 |
Capital markets | (2,647 | ) |  | (6,057 | )
Corporate/Other | (26,377 | ) |  | (28,202 | )
Total | $ | 16,052 |  |  | $ | 9,621 |
(1) | Clients investing in the OAM advisory program are charged fees based on the value of AUM.
Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments. Revenue, classified by the major geographic areas in which it was earned, for the three months ended March 31, 2019 and 2018 was as follows:
(Expressed in thousands) |  |  |
| For the Three Months Ended March 31,
| 2019 |  | 2018
Americas | $ | 243,399 |  |  | $ | 225,612 |
Europe/Middle East | 7,669 |  |  | 7,523 |
Asia | 702 |  |  | 1,395 |
Total | $ | 251,770 |  |  | $ | 234,530 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration