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10-Q Filing

OPPENHEIMER HOLDINGS INC CIK: 791963 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001193125-13-201902
Period End Date 20130331
Filing Date 20130506
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance opy-20130331.xml
Balance Sheet 72 line items
Line Item Tag Value Unit Period
Allowance for credit losses AllowanceForDoubtfulAccountsReceivable $2.24M USD Point-in-time
Allowance for credit losses AllowanceForDoubtfulAccountsReceivable $2.26M USD Point-in-time
Amounts pledged SecurityOwnedAndPledgedAsCollateralFairValue $570.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $70.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $86.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $98.78M USD Point-in-time
Amounts pledged SecurityOwnedAndPledgedAsCollateralFairValue $391.90M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $135.37M USD Point-in-time
Cash and securities segregated for regulatory and other purposes CashAndSecuritiesSegregatedUnderFederalAndOtherRegulations $37.16M USD Point-in-time
Cash and securities segregated for regulatory and other purposes CashAndSecuritiesSegregatedUnderFederalAndOtherRegulations $33.00M USD Point-in-time
Deposits with clearing organizations DepositsWithClearingOrganizationsAndOthersSecurities $24.58M USD Point-in-time
Deposits with clearing organizations DepositsWithClearingOrganizationsAndOthersSecurities $25.95M USD Point-in-time
Receivable from brokers and clearing organizations ReceivablesFromBrokersDealersAndClearingOrganizations $479.70M USD Point-in-time
Receivable from brokers and clearing organizations ReceivablesFromBrokersDealersAndClearingOrganizations $290.95M USD Point-in-time
Receivable from customers, net of allowance for credit losses of $2,239 ($2,256 in 2012) ReceivablesFromCustomers $817.94M USD Point-in-time
Receivable from customers, net of allowance for credit losses of $2,239 ($2,256 in 2012) ReceivablesFromCustomers $881.51M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $13.98M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $451.00K USD Point-in-time
Securities owned, including amounts pledged of $391,900 ($569,995 in 2012), at fair value FinancialInstrumentsOwnedAtFairValue $759.74M USD Point-in-time
Securities owned, including amounts pledged of $391,900 ($569,995 in 2012), at fair value FinancialInstrumentsOwnedAtFairValue $848.33M USD Point-in-time
Notes receivable, net DueFromEmployees $45.03M USD Point-in-time
Notes receivable, net DueFromEmployees $47.32M USD Point-in-time
Office facilities, net PropertyPlantAndEquipmentNet $30.94M USD Point-in-time
Office facilities, net PropertyPlantAndEquipmentNet $28.33M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNet $1.78M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNet $16.34M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $31.70M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $31.70M USD Point-in-time
Goodwill Goodwill $137.89M USD Point-in-time
Goodwill Goodwill $137.89M USD Point-in-time
Other assets OtherAssets $164.28M USD Point-in-time
Other assets OtherAssets $186.53M USD Point-in-time
Assets, Total Assets $2.68B USD Point-in-time
Assets, Total Assets $2.63B USD Point-in-time
Drafts payable DraftsPayable $44.93M USD Point-in-time
Drafts payable DraftsPayable $56.59M USD Point-in-time
Bank call loans BankLoans $128.30M USD Point-in-time
Bank call loans BankLoans $204.00M USD Point-in-time
Payable to brokers and clearing organizations PayablesToBrokerDealersAndClearingOrganizations $204.22M USD Point-in-time
Payable to brokers and clearing organizations PayablesToBrokerDealersAndClearingOrganizations $215.61M USD Point-in-time
Payable to customers PayablesToCustomers $607.03M USD Point-in-time
Payable to customers PayablesToCustomers $692.38M USD Point-in-time
Securities sold under agreements to repurchase SecuritiesSoldUnderAgreementsToRepurchase $544.14M USD Point-in-time
Securities sold under agreements to repurchase SecuritiesSoldUnderAgreementsToRepurchase $392.39M USD Point-in-time
Securities sold, but not yet purchased, at fair value SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased $63.05M USD Point-in-time
Securities sold, but not yet purchased, at fair value SecurityOwnedAndSoldNotYetPurchasedFairValueSecuritySoldNotYetPurchased $173.45M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrentAndNoncurrent $97.89M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrentAndNoncurrent $150.43M USD Point-in-time
Accounts payable and other liabilities AccountsPayableCurrentAndNoncurrent $148.62M USD Point-in-time
Accounts payable and other liabilities AccountsPayableCurrentAndNoncurrent $180.26M USD Point-in-time
Senior secured notes SecuredDebt $195.00M USD Point-in-time
Senior secured notes SecuredDebt $195.00M USD Point-in-time
Liabilities, Total Liabilities $2.17B USD Point-in-time
Liabilities, Total Liabilities $2.12B USD Point-in-time
Common stock CommonStockValue $62.18M USD Point-in-time
Common stock CommonStockValue $62.18M USD Point-in-time
Contributed capital AdditionalPaidInCapitalCommonStock $40.29M USD Point-in-time
Contributed capital AdditionalPaidInCapitalCommonStock $39.23M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $401.29M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $399.12M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $658.00K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $207.00K USD Point-in-time
Total Oppenheimer Holdings Inc. stockholders' equity StockholdersEquity $501.06M USD Point-in-time
Total Oppenheimer Holdings Inc. stockholders' equity StockholdersEquity $504.42M USD Point-in-time
Total Oppenheimer Holdings Inc. stockholders' equity StockholdersEquity $500.74M USD Point-in-time
Non-controlling interest MinorityInterest $4.49M USD Point-in-time
Non-controlling interest MinorityInterest $4.26M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $507.17M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $505.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $508.91M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.63B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.68B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Commissions BrokerageCommissionsRevenue $125.63M USD 1 Quarter
Commissions BrokerageCommissionsRevenue $119.58M USD 1 Quarter
Principal transactions, net PrincipalTransactionsRevenue $15.72M USD 1 Quarter
Principal transactions, net PrincipalTransactionsRevenue $12.55M USD 1 Quarter
Interest InterestIncomeOperating $12.37M USD 1 Quarter
Interest InterestIncomeOperating $13.39M USD 1 Quarter
Investment banking InvestmentBankingRevenue $18.45M USD 1 Quarter
Investment banking InvestmentBankingRevenue $20.09M USD 1 Quarter
Advisory fees InvestmentAdvisoryFees $56.72M USD 1 Quarter
Advisory fees InvestmentAdvisoryFees $50.08M USD 1 Quarter
Other OtherIncome $16.47M USD 1 Quarter
Other OtherIncome $16.31M USD 1 Quarter
Total revenue Revenues $239.15M USD 1 Quarter
Total revenue Revenues $238.21M USD 1 Quarter
Compensation and related expenses LaborAndRelatedExpense $158.65M USD 1 Quarter
Compensation and related expenses LaborAndRelatedExpense $159.21M USD 1 Quarter
Clearing and exchange fees FloorBrokerageExchangeAndClearanceFees $6.04M USD 1 Quarter
Clearing and exchange fees FloorBrokerageExchangeAndClearanceFees $6.03M USD 1 Quarter
Communications and technology CommunicationsAndInformationTechnology $15.86M USD 1 Quarter
Communications and technology CommunicationsAndInformationTechnology $16.14M USD 1 Quarter
Occupancy and equipment costs OccupancyNet $17.57M USD 1 Quarter
Occupancy and equipment costs OccupancyNet $24.34M USD 1 Quarter
Interest InterestExpense $6.86M USD 1 Quarter
Interest InterestExpense $8.79M USD 1 Quarter
Other OtherExpenses $30.75M USD 1 Quarter
Other OtherExpenses $26.89M USD 1 Quarter
Total expenses OperatingExpenses $244.70M USD 1 Quarter
Total expenses OperatingExpenses $232.43M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $6.71M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-6.49M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $-2.61M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $2.82M USD 1 Quarter
Net income (loss) for the period ProfitLoss $3.89M USD 1 Quarter
Net income (loss) for the period ProfitLoss $-3.88M USD 1 Quarter
Less net income attributable to non-controlling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $774.00K USD 1 Quarter
Less net income attributable to non-controlling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $230.00K USD 1 Quarter
Net income (loss) attributable to Oppenheimer Holdings Inc. NetIncomeLoss $-4.66M USD 1 Quarter
Net income (loss) attributable to Oppenheimer Holdings Inc. NetIncomeLoss $3.66M USD 1 Quarter
Basic EarningsPerShareBasic $-0.34 USD 1 Quarter
Basic EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.34 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.26 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 13.60M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 13.61M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 13.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 14.03M shares 1 Quarter
Cash Flow Statement 75 line items
Line Item Tag Value Unit Period
Net income (loss) for the period ProfitLoss $3.89M USD 1 Quarter
Net income (loss) for the period ProfitLoss $-3.88M USD 1 Quarter
Depreciation and amortization of office facilities and leasehold improvements DepreciationAmortizationAndAccretionNet $2.51M USD 1 Quarter
Depreciation and amortization of office facilities and leasehold improvements DepreciationAmortizationAndAccretionNet $2.85M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-6.67M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $14.56M USD 1 Quarter
Amortization of notes receivable AmortizationOfNotesReceivable $4.87M USD 1 Quarter
Amortization of notes receivable AmortizationOfNotesReceivable $4.74M USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $160.00K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $99.00K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $3.21M USD 1 Quarter
Provision for (reversal of) credit losses ProvisionForOtherCreditLosses $-17.00K USD 1 Quarter
Provision for (reversal of) credit losses ProvisionForOtherCreditLosses $178.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.88M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.26M USD 1 Quarter
Cash and securities segregated for regulatory and other purposes IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities $4.16M USD 1 Quarter
Cash and securities segregated for regulatory and other purposes IncreaseDecreaseInRestrictedCashAndInvestmentsForOperatingActivities $2.28M USD 1 Quarter
Deposits with clearing organizations IncreaseDecreaseDepositsWithClearingOrganizations $-1.38M USD 1 Quarter
Deposits with clearing organizations IncreaseDecreaseDepositsWithClearingOrganizations $20.32M USD 1 Quarter
Receivable from brokers and clearing organizations IncreaseDecreaseInBrokerageReceivables $53.12M USD 1 Quarter
Receivable from brokers and clearing organizations IncreaseDecreaseInBrokerageReceivables $-188.74M USD 1 Quarter
Receivable from customers IncreaseDecreaseInReceivableFromCustomers $63.56M USD 1 Quarter
Receivable from customers IncreaseDecreaseInReceivableFromCustomers $34.38M USD 1 Quarter
Income tax receivable IncreaseDecreaseInIncomeTaxesReceivable $13.53M USD 1 Quarter
Income tax receivable IncreaseDecreaseInIncomeTaxesReceivable $-4.02M USD 1 Quarter
Securities purchased under agreements to resell IncreaseDecreaseInReceivablesUnderRepurchaseAgreements $-847.20M USD 1 Quarter
Securities owned IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities $88.59M USD 1 Quarter
Securities owned IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities $21.88M USD 1 Quarter
Notes receivable IncreaseDecreaseInDueFromEmployeeCurrentAndNoncurrent $2.44M USD 1 Quarter
Notes receivable IncreaseDecreaseInDueFromEmployeeCurrentAndNoncurrent $4.41M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-72.77M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $21.96M USD 1 Quarter
Drafts payable IncreaseDecreaseInDraftPayable $-10.66M USD 1 Quarter
Drafts payable IncreaseDecreaseInDraftPayable $-11.66M USD 1 Quarter
Payable to brokers and clearing organizations IncreaseDecreaseInPayablesToBrokerDealers $38.46M USD 1 Quarter
Payable to brokers and clearing organizations IncreaseDecreaseInPayablesToBrokerDealers $11.39M USD 1 Quarter
Payable to customers IncreaseDecreaseInPayablesToCustomers $-85.34M USD 1 Quarter
Payable to customers IncreaseDecreaseInPayablesToCustomers $63.90M USD 1 Quarter
Securities sold under agreements to repurchase IncreaseDecreaseInPayablesUnderRepurchaseAgreements $-860.70M USD 1 Quarter
Securities sold under agreements to repurchase IncreaseDecreaseInPayablesUnderRepurchaseAgreements $151.75M USD 1 Quarter
Securities sold, but not yet purchased IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased $20.99M USD 1 Quarter
Securities sold, but not yet purchased IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased $-110.40M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-51.44M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-53.37M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-31.64M USD 1 Quarter
Accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-30.96M USD 1 Quarter
Cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-40.90M USD 1 Quarter
Cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-105.67M USD 1 Quarter
Purchase of office facilities PaymentsToAcquirePropertyPlantAndEquipment $5.12M USD 1 Quarter
Purchase of office facilities PaymentsToAcquirePropertyPlantAndEquipment $4.71M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-4.71M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.12M USD 1 Quarter
Cash dividends paid on Class A non-voting and Class B voting common stock PaymentsOfDividendsCommonStock $1.50M USD 1 Quarter
Cash dividends paid on Class A non-voting and Class B voting common stock PaymentsOfDividendsCommonStock $1.50M USD 1 Quarter
Repurchase of Class A non-voting common stock for cancellation PaymentsForRepurchaseOfCommonStock $1.55M USD 1 Quarter
Tax benefit from share-based awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $41.00K USD 1 Quarter
Increase in bank call loans, net IncreaseDecreaseInBankCallLoansNet $-75.70M USD 1 Quarter
Increase in bank call loans, net IncreaseDecreaseInBankCallLoansNet $-65.10M USD 1 Quarter
Cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $62.09M USD 1 Quarter
Cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $74.20M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-36.59M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $16.48M USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $70.33M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $86.81M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $98.78M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $135.37M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $70.33M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $86.81M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $98.78M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $135.37M USD Point-in-time
Employee share plan issuance EmployeeSharePlanIssuance $224.00K USD 1 Quarter
Cash paid during the period for interest InterestPaid $4.04M USD 1 Quarter
Cash paid during the period for interest InterestPaid $2.17M USD 1 Quarter
Cash paid (refunded) during the period for income taxes IncomeTaxesPaid $-1.73M USD 1 Quarter
Cash paid (refunded) during the period for income taxes IncomeTaxesPaid $20.00K USD 1 Quarter
Stockholders Equity 15 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $507.17M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $505.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $508.91M USD Point-in-time
Stockholders' equity of Oppenheimer Holdings Inc. StockholdersEquity $501.06M USD Point-in-time
Stockholders' equity of Oppenheimer Holdings Inc. StockholdersEquity $504.42M USD Point-in-time
Stockholders' equity of Oppenheimer Holdings Inc. StockholdersEquity $500.74M USD Point-in-time
Net income (loss) attributable to Oppenheimer Holdings Inc. NetIncomeLoss $-4.66M USD 1 Quarter
Net income (loss) attributable to Oppenheimer Holdings Inc. NetIncomeLoss $3.66M USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $451.00K USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-366.00K USD 1 Quarter
Net income attributable to non-controlling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $774.00K USD 1 Quarter
Net income attributable to non-controlling interest, net of tax NetIncomeLossAttributableToNoncontrollingInterest $230.00K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $507.17M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $505.00M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $508.91M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income (loss) for the period ProfitLoss $3.89M USD 1 Quarter
Net income (loss) for the period ProfitLoss $-3.88M USD 1 Quarter
Other comprehensive income (loss) Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $451.00K USD 1 Quarter
Other comprehensive income (loss) Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-366.00K USD 1 Quarter
Comprehensive income (loss) for the period ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $4.34M USD 1 Quarter
Comprehensive income (loss) for the period ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-4.25M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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