Oppenheimer (OPY) 10-K 3 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	OPPENHEIMER HOLDINGS INC
Entity Central Index Key	791,963
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 205
Class A Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		13,336,346
Class B Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		99,665

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 64,913	$ 63,364
Deposits with clearing organizations	38,185	49,490
Receivable from brokers, dealers and clearing organizations	214,934	365,791
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	847,386	840,355
Income tax receivable	5,816	12,231
Securities purchased under agreements to resell, at fair value	24,006	206,499
Securities owned, including amounts pledged of $438,385 ($546,334 in 2015), at fair value	707,108	734,831
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	30,099	32,849
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $84,073 ($104,812 in 2015)	27,233	28,285
Assets held for sale	5,188	99,881
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	102,473	94,839
Total assets	2,236,930	2,698,004
Liabilities
Drafts payable	39,228	48,011
Bank call loans	145,800	100,200
Payable to brokers, dealers and clearing organizations	221,389	164,546
Payable to customers	449,946	594,833
Securities sold under agreements to repurchase	378,084	651,445
Securities sold but not yet purchased, at fair value	85,050	126,493
Liabilities held for sale	1,217	74,680
Accrued compensation	145,053	149,092
Accounts payable and other liabilities	95,340	108,637
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	149,352	148,868
Deferred tax liabilities, net of deferred tax assets of $59,062 ($63,481 in 2015)	13,137	6,117
Total liabilities	1,723,596	2,172,922
Commitments and contingencies (Note 16)
Share capital
Common stock	59,361	57,520
Contributed capital	41,765	44,438
Retained earnings	410,258	417,001
Accumulated other comprehensive loss	(681)	(901)
Total Oppenheimer Holdings Inc. stockholders' equity	510,703	518,058
Noncontrolling interest	2,631	7,024
Total stockholders' equity	513,334	525,082
Total liabilities and stockholders' equity	2,236,930	2,698,004
Class A Stock
Share capital
Common stock	59,228	57,387
Class B Stock
Share capital
Common stock	$ 133	$ 133

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Sep. 15, 2015	Dec. 31, 2014
Allowance for credit losses	$ 794	$ 2,545
Amounts pledged	438,385	546,334
Furniture equipment and leasehold improvements, net accumulated depreciation	84,073	104,812
Net deferred tax assets	59,062	63,481
Notes Receivable, Net Accumulated Amortization	24,826	54,919
Notes Receivable, Net Allowance for Uncollectibles	6,784	8,444
Unamortized debt issuance expense	$ 648	$ 1,132
Class A Stock
Common stock, authorized	50,000,000	50,000,000
Common stock, shares issued	13,261,095	13,238,486
Common stock, shares outstanding	13,261,095	13,238,486	13,348,369	13,530,688
Common stock, par value	$ 0.001	$ 0.001
Class B Stock
Common stock, authorized	99,665	99,680
Common stock, shares issued	99,665	99,680
Common stock, shares outstanding	99,665	99,680
Common stock, par value	$ 0.001	$ 0.001

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
REVENUE
Commissions									$ 377,317	$ 417,559	$ 469,829
Advisory fees									269,119	280,247	281,680
Investment banking									81,011	102,540	125,598
Interest									47,649	49,032	47,505
Principal transactions, net									20,481	15,180	27,515
Other									62,202	33,243	29,008
Total revenue	$ 218,945	$ 211,804	$ 212,074	$ 214,956	$ 225,189	$ 207,478	$ 227,959	$ 237,175	857,779	897,801	981,135
EXPENSES
Compensation and related expenses									584,710	610,820	654,396
Communications and technology									70,390	66,549	66,750
Occupancy and equipment costs									60,791	62,842	62,671
Clearing and exchange fees									25,126	26,022	24,709
Interest									19,437	16,329	16,956
Other									119,217	117,667	138,463
Total expenses	226,441	213,614	217,320	222,296	229,757	210,051	229,060	231,361	879,671	900,229	963,945
Income (loss) before income taxes from continuing operations	(7,496)	(1,810)	(5,246)	(7,340)	(4,568)	(2,573)	(1,101)	5,814	(21,892)	(2,428)	17,190
Current and Deferred Income Tax Expense (Benefit) from Continuing Operations									(12,262)	406	12,134
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(2,424)	(1,059)	(2,619)	(3,528)	(3,856)	(1,136)	(1,501)	3,659	(9,630)	(2,834)	5,056
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									17,339	9,139	8,546
Discontinued Operation, Tax Effect of Discontinued Operation									7,218	3,407	4,041
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	759	413	9,330	(381)	765	359	2,146	2,462	10,121	5,732	4,505
Net income	(1,665)	(646)	6,711	(3,909)	(3,091)	(777)	645	6,121	491	2,898	9,561
Less net income attributable to noncontrolling interest, net of tax	125	66	1,523	(62)	53	131	350	402	1,652	936	735
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ (1,790)	$ (712)	$ 5,188	$ (3,847)	$ (3,144)	$ (908)	$ 295	$ 5,719	$ (1,161)	$ 1,962	$ 8,826
Basic net income (loss) per share attributable to Oppenheimer Holdings Inc.
Income (Loss) from Continuing Operations, Per Basic Share	$ (0.28)	$ (0.08)	$ (0.20)	$ (0.27)	$ (0.28)	$ (0.08)	$ (0.11)	$ 0.27	$ (0.72)	$ (0.21)	$ 0.37
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.05	0.03	0.59	(0.02)	0.05	0.01	0.13	0.15	0.63	0.35	0.28
Net income (loss) per share	(0.23)	(0.05)	0.39	(0.29)	0	0	0	0	(0.09)	0.14	0.65
Income (Loss) from Continuing Operations, Per Diluted Share	(0.28)	(0.08)	(0.20)	(0.27)	(0.28)	(0.08)	(0.11)	0.26	(0.72)	(0.21)	0.36
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.05	0.03	0.59	(0.02)	0.05	0.01	0.13	0.14	0.63	0.35	0.26
Earnings Per Share, Diluted	$ (0.23)	$ (0.05)	$ 0.39	$ (0.29)	$ 0	$ 0	$ 0	$ 0	$ (0.09)	$ 0.14	$ 0.62
Weighted average shares
Basic									13,368,768	13,640,610	13,604,258
Diluted									13,368,768	13,640,610	14,250,663

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income		$ 491	$ 2,898	$ 9,561
Other comprehensive income (loss), net of tax
Currency translation adjustment	[1]	220	17	(2,627)
Comprehensive income		711	2,915	6,934
Net income attributable to noncontrolling interests		1,652	936	735
Total comprehensive income (loss)		$ (941)	$ 1,979	$ 6,199
[1]	Total other comprehensive income (loss) is attributable to Oppenheimer Holdings Inc. No other comprehensive income (loss) is attributable to noncontrolling interests.

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total		Share Capital	Share CapitalClass A Stock	Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Parent	Non-Controlling Interest
Balance at beginning of year at Dec. 31, 2013			$ 60,198		$ 42,407	$ 418,204	$ 1,709		$ 5,353
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				$ 2,199
Repurchase of Class A non-voting common stock for cancellation				0
Excess tax benefit (deficiency) from share-based awards					1,194
Share-based expense					5,694
Vested employee share plan awards					(4,177)
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ 8,826					8,826		$ 8,826
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						(5,983)
Dividends received from noncontrolling interest						0
Currency translation adjustment	(2,627)	[1]					(2,627)
Less net income attributable to noncontrolling interest, net of tax	735							0	735
Dividends paid to noncontrolling interest	0								0
Dividends paid to parent									0
Balance at end of year at Dec. 31, 2014	533,732		62,397		45,118	421,047	(918)	527,644	6,088
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				3,373
Repurchase of Class A non-voting common stock for cancellation				(8,250)
Excess tax benefit (deficiency) from share-based awards					(277)
Share-based expense					4,653
Vested employee share plan awards					(5,056)
Net income (loss) attributable to Oppenheimer Holdings Inc.	1,962					1,962		1,962
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						(6,008)
Dividends received from noncontrolling interest						0
Currency translation adjustment	17	[1]					17
Less net income attributable to noncontrolling interest, net of tax	936							0	936
Dividends paid to noncontrolling interest	0								0
Dividends paid to parent									0
Balance at end of year at Dec. 31, 2015	525,082		57,520		44,438	417,001	(901)	518,058	7,024
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock				5,776
Repurchase of Class A non-voting common stock for cancellation				$ (3,935)
Excess tax benefit (deficiency) from share-based awards					(740)
Share-based expense					5,184
Vested employee share plan awards					(7,117)
Net income (loss) attributable to Oppenheimer Holdings Inc.	(1,161)					(1,161)		(1,161)
Dividends paid ($0.44 per share for the years 2012, 2013 & 2014)						(5,887)
Dividends received from noncontrolling interest						305
Currency translation adjustment	220	[1]					220
Less net income attributable to noncontrolling interest, net of tax	1,652							0	1,652
Dividends paid to noncontrolling interest	5,740							0	(5,740)
Dividends paid to parent									(305)
Balance at end of year at Dec. 31, 2016	$ 513,334		$ 59,361		$ 41,765	$ 410,258	$ (681)	$ 510,703	$ 2,631
[1]	Total other comprehensive income (loss) is attributable to Oppenheimer Holdings Inc. No other comprehensive income (loss) is attributable to noncontrolling interests.

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends	$ 0.44	$ 0.44
Retained Earnings
Dividends	$ 0.44	$ 0.44	$ 0.44

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities
Net income	$ 491	$ 2,898	$ 9,561
Payment of taxes due for share-based awards	(1,341)	(1,683)	(2,074)
Non-cash items included in net income:
Depreciation and amortization of furniture, equipment and leasehold improvements	6,788	7,188	7,748
Deferred Income Taxes and Tax Credits	(2,941)	4,538	6,001
Amortization of notes receivable	12,960	12,708	16,043
Amortization of debt issuance costs	484	485	530
Write-off of debt issuance costs	0	0	588
Amortization of mortgage servicing rights	1,286	727	2,819
Provision for (reversal of) credit losses	(1,751)	118	4
Share-based compensation	6,203	2,860	6,074
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	(16,475)	0	0
Decrease (increase) in operating assets:
Cash and securities segregated for regulatory and other purposes	0	18,594	17,729
Deposits with clearing organizations	11,305	(12,980)	(12,831)
Receivable from brokers, dealers and clearing organizations	145,882	(46,438)	50,398
Receivable from customers	(5,280)	23,716	4,676
Income tax receivable	5,104	(6,697)	2,322
Securities purchased under agreements to resell	182,493	45,107	(66,781)
Securities owned	24,725	107,762	12,933
Notes receivable	(10,210)	(10,625)	(10,224)
Loans held for sale	60,234	(40,991)	56,746
Mortgage servicing rights	(1,300)	1,245	(4,080)
Other assets	2,368	35	53,929
Increase (decrease) in operating liabilities:
Drafts payable	(8,783)	12,638	(12,825)
Payable to brokers, dealers and clearing organizations	56,843	(92,615)	33,846
Payable to customers	(144,887)	(57,423)	25,692
Securities sold under agreements to repurchase	(273,361)	(35,995)	(70,051)
Securities sold but not yet purchased	(41,443)	33,983	16,196
Accrued compensation	(6,864)	(12,443)	(15,365)
Accounts payable and other liabilities	(69,996)	22,469	(51,289)
Cash (used in) provided by operating activities	(67,466)	(20,819)	78,315
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements	(5,731)	(5,889)	(4,398)
Proceeds from Divestiture of Businesses	45,448	0	0
Cash provided by (used in) investing activities	39,717	(5,889)	(4,398)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(5,887)	(6,008)	(5,983)
Payments of Ordinary Dividends, Noncontrolling Interest	(5,740)	0	0
Issuance of Class A non-voting common stock	0	0	185
Repurchase of Class A non-voting common stock for cancellation	(3,935)	(8,250)	0
Excess tax benefit (deficiency) from share-based awards	(740)	(277)	1,194
Redemption of senior secured notes	0	0	(45,000)
Redemption of senior secured notes	45,600	40,800	(58,800)
Cash provided by (used in) financing activities	29,298	26,265	(108,404)
Net increase (decrease) in cash and cash equivalents	1,549	(443)	(34,487)
Cash and cash equivalents, beginning of year	63,364	63,807	98,294
Cash and cash equivalents, end of year	64,913	63,364	63,807
Schedule of non-cash financing activities
Employee share plan issuance	5,776	3,373	2,014
Supplemental disclosure of cash flow information
Cash paid during the year for interest	19,705	17,273	18,784
Proceeds from Income Tax Refunds	$ (5,009)
Cash (received) paid during the year for income taxes, net		$ 6,088	$ 7,590

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Oppenheimer Holdings Inc. ("OPY") is incorporated under the laws of the State of Delaware. The consolidated financial statements include the accounts of OPY and its subsidiaries (together, the "Company"). The Company engages in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (both corporate and public finance), research, market-making, trust services, and investment advisory and asset management services. The Company provides its services from 93 offices in 25 states located throughout the United States and in 5 foreign jurisdictions. The principal subsidiaries of OPY are Oppenheimer & Co. Inc. ("Oppenheimer"), a registered broker-dealer in securities and investment adviser under the Investment Advisers Act of 1940, Oppenheimer Asset Management Inc. ("OAM") and its wholly-owned subsidiary, Oppenheimer Investment Management LLC ("OIM"), both registered investment advisers under the Investment Advisers Act of 1940, Oppenheimer Trust Company of Delaware ("Oppenheimer Trust"), a limited purpose trust company that provides fiduciary services such as trust and estate administration and investment management, OPY Credit Corp., which offers syndication as well as trading of issued corporate loans, Oppenheimer Europe Ltd., based in the United Kingdom, with offices in the Isle of Jersey and Switzerland, which provides institutional equities and fixed income brokerage and corporate financial services and is regulated by the Financial Conduct Authority, and Oppenheimer Investments Asia Limited, based in Hong Kong, China, which provides assistance in accessing the U.S. equities markets and limited mergers and acquisitions advisory services to Asia-based companies, as well as offering fixed income brokerage services to institutional investors, and is regulated by the Securities and Futures Commission. Oppenheimer Multifamily Housing & Healthcare Finance, Inc. ("OMHHF") was formerly engaged in Federal Housing Administration ("FHA")-insured commercial mortgage origination and servicing. During 2016, the Company sold substantially all of the assets of OMHHF and ceased its operations. Oppenheimer owns Freedom Investments, Inc. ("Freedom"), a registered broker dealer in securities, which provides discount brokerage services, and Oppenheimer Israel (OPCO) Ltd., which is engaged in offering investment services in the State of Israel. Oppenheimer holds a trading permit on the New York Stock Exchange and is a member of several other regional exchanges in the United States.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of significant accounting policies Basis of Presentation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. Intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Accounting standards require the Company to present noncontrolling interests as a separate component of stockholders' equity on the Company's consolidated balance sheet and statement of operations. As of December 31, 2016 , the Company owned 83.68% of OMHHF and the noncontrolling interest recorded on the consolidated balance sheet was $2.6 million . Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. In presenting the consolidated financial statements, management makes estimates regarding valuations of financial instruments, loans and allowances for credit losses, the outcome of legal and regulatory matters, goodwill and other intangible assets, stock-based compensation plans, mortgage servicing rights, and income taxes. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could be materially different from these estimates. A discussion of certain areas in which estimates are a significant component of the amounts reported on the consolidated financial statements follows. Financial Instruments and Fair Value Financial Instruments Securities owned, securities sold but not yet purchased, investments and derivative contracts are carried at fair value with changes in fair value recognized in earnings each period. Fair Value Measurements Accounting guidance for the fair value measurement of financial assets, which defines fair value, establishes a framework for measuring fair value, establishes a fair value measurement hierarchy, and expands fair value measurement disclosures. Fair value, as defined by the accounting guidance, is the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy established by this accounting guidance prioritizes the inputs used in valuation techniques into the following three categories (highest to lowest priority): Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are significant to the overall fair value measurement. The Company's financial instruments that are recorded at fair value generally are classified within Level 1 or Level 2 within the fair value hierarchy using quoted market prices or quotes from market makers or broker-dealers. Financial instruments classified within Level 1 are valued based on quoted market prices in active markets and consist of U.S. Treasury and Agency securities, corporate equities, and certain money market instruments. Level 2 financial instruments primarily consist of investment grade and high-yield corporate debt, convertible bonds, mortgage and asset-backed securities, and municipal obligations. Financial instruments classified as Level 2 are valued based on quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active. Some financial instruments are classified within Level 3 within the fair value hierarchy as observable pricing inputs are not available due to limited market activity for the asset or liability. Such financial instruments include certain distressed municipal securities, interest rate lock commitments where OMHHF entered into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates, and auction rate securities ("ARS"). Fair Value Option The Company has the option to measure certain financial assets and financial liabilities at fair value with changes in fair value recognized in earnings each period. The Company may make a fair value option election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument. Consolidation The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities ("VIEs") where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. The Company reviews factors, including the rights of the equity holders at risk and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the entity is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. Accounting Standards Update ("ASU") No. 2010-10, "Amendments for Certain Investment Funds," defers the application of the revised consolidation rules for a reporting entity's interest in an entity if certain conditions are met. ASU No. 2015-02, "Consolidation - Amendments to the Consolidation Analysis," eliminates the deferral of the application of the revised consolidation rules and make changes to both the variable interest model and the voting model. Under this ASU, a general partner will not consolidate a partnership or similar entity under the voting interest model. The ASU became effective for the annual reporting period in the fiscal year that began after December 15, 2015. The adoption of this ASU impacted the disclosure of VIEs and did not have a material impact on the Company's consolidated financial statements. See Note 7, Variable interest entities. Financing Receivables The Company's financing receivables include customer margin loans, securities purchased under agreements to resell ("reverse repurchase agreements"), and securities borrowed transactions. The Company uses financing receivables to extend margin loans to customers, meet trade settlement requirements, and facilitate its matched-book arrangements and inventory requirements. The Company's financing receivables are secured by collateral received from clients and counterparties. In many cases, the Company is permitted to sell or re-pledge securities held as collateral. These securities may be used to collateralize repurchase agreements, to enter into securities lending agreements, to cover short positions or fulfill the obligation of fails to deliver. The Company monitors the market value of the collateral received on a daily basis and may require clients and counterparties to deposit additional collateral or return collateral pledged, when appropriate. Customer receivables, primarily consisting of customer margin loans collateralized by customer-owned securities, are stated net of allowance for credit losses. The Company reviews large customer accounts that do not comply with the Company's margin requirements on a case-by-case basis to determine the likelihood of collection and records an allowance for credit loss following that process. For small customer accounts that do not comply with the Company's margin requirements, the allowance for credit loss is generally recorded as the amount of unsecured or partially secured receivables. The Company also makes loans to financial advisers as part of its hiring process. These loans are recorded as notes receivable on its consolidated balance sheet. Allowances are established on these loans if the financial adviser is no longer associated with the Company and the loan has not been promptly repaid. Legal and Regulatory Reserves The Company records reserves related to legal and regulatory proceedings in accounts payable and other liabilities. The determination of the amounts of these reserves requires significant judgment on the part of management. In accordance with applicable accounting guidance, the Company establishes reserves for litigation and regulatory matters where available information indicates that it is probable a liability had been incurred and the Company can reasonably estimate the amount of that loss. When loss contingencies are not probable and cannot be reasonably estimated, the Company does not establish reserves. When determining whether to record a reserve, management considers many factors including, but not limited to, the amount of the claim; the stage and forum of the proceeding, the sophistication of the claimant, the amount of the loss, if any, in the client's account and the possibility of wrongdoing, if any, on the part of an employee of the Company; the basis and validity of the claim; previous results in similar cases; and applicable legal precedents and case law. Each legal and regulatory proceeding is reviewed with counsel in each accounting period and the reserve is adjusted as deemed appropriate by management. Any change in the reserve amount is recorded in the results of that period. The assumptions of management in determining the estimates of reserves may be incorrect and the actual disposition of a legal or regulatory proceeding could be greater or less than the reserve amount. Goodwill The Company defines a reporting unit as an operating segment. The Company's goodwill resides in its Private Client Division ("PCD") reporting unit. Goodwill of a reporting unit is subject to at least an annual test for impairment to determine if the estimated fair value of a reporting unit is less than its carrying amount. Goodwill of a reporting unit is required to be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Due to the volatility in the financial services sector and equity markets in general, determining whether an impairment of goodwill has occurred is increasingly difficult and requires management to exercise significant judgment. The Company's interim goodwill impairment analysis performed as of August 31, 2016 and its annual goodwill impairment analysis performed as of December 31, 2016 applied the same valuation methodologies with consistent inputs as that performed as of December 31, 2015 , as follows: In estimating the fair value of the PCD, the Company uses traditional standard valuation methods, including the market comparable approach and income approach. The market comparable approach is based on comparisons of the subject company to public companies whose stocks are actively traded ("Price Multiples") or to similar companies engaged in an actual merger or acquisition ("Precedent Transactions"). As part of this process, multiples of value relative to financial variables, such as earnings or stockholders' equity, are developed and applied to the appropriate financial variables of the subject company to indicate its value. The income approach involves estimating the present value of the subject company's future cash flows by using projections of the cash flows that the business is expected to generate, and discounting these cash flows at a given rate of return ("Discounted Cash Flow" or "DCF"). Each of these standard valuation methodologies requires the use of management estimates and assumptions. In its Price Multiples valuation analysis, the Company uses various operating metrics of comparable companies, including revenues, after-tax earnings, and EBITDA as well as price-to-book value ratios at a point in time. The Company analyzes prices paid in Precedent Transactions that are comparable to the business conducted in the PCD. The DCF analysis includes the Company's assumptions regarding discount rate, growth rates of the PCD's revenues, expenses, EBITDA, and capital expenditures, adjusted for current economic conditions and expectations. The Company weighs each of the three valuation methods equally in its overall valuation. Given the subjectivity involved in selecting which valuation method to use, the corresponding weightings, and the input variables for use in the analyses, it is possible that a different valuation model and the selection of different input variables could produce a materially different estimate of the fair value of the PCD reporting unit. Intangible Assets Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million , which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. The fair value of the trademarks and trade names was substantially in excess of its carrying value as of December 31, 2016. Share-Based Compensation Plans As part of the compensation to employees and directors, the Company uses stock-based compensation, consisting of restricted stock, stock options and stock appreciation rights. In accordance with ASC Topic 718, "Compensation - Stock Compensation," the Company classifies the stock options and restricted stock awards as equity awards, which requires the compensation cost to be recognized in the consolidated statement of operations over the requisite service period of the award at grant date fair value and adjust for expected forfeitures. The fair value of restricted stock awards is determined based on the grant date closing price of the Company's Class A non-voting common stock ("Class A Stock") adjusted for the present value of the dividend to be received upon vesting. The fair value of stock options is determined using the Black-Scholes model. Key assumptions used to estimate the fair value include the expected term and the expected volatility of the Company's Class A Stock over the term of the award, the risk-free interest rate over the expected term, and the Company's expected annual dividend yield. The Company classifies stock appreciation rights ("OARs") as liability awards, which requires the fair value to be remeasured at each reporting period until the award vests. The fair value of OARs is also determined using the Black-Scholes model at the end of each reporting period. The compensation cost is adjusted each reporting period for changes in fair value prorated for the portion of the requisite service period rendered. Mortgage Servicing Rights The Company's Mortgage Servicing Rights ("MSRs") assets, held at OMHHF, are initially measured and recorded at fair value based on the present value of future net servicing income adjusted for factors such as discount rate and prepayment speeds. After initial measurement, MSRs are amortized over a ten year period. The Company assesses the capitalized MSRs for impairment quarterly by comparing the aggregate carrying value of the MSR portfolio to the aggregate estimated fair value of the portfolio. Revenue Recognition Brokerage Customers' securities and commodities transactions are reported on a settlement date basis, which is generally three business days after trade date for securities transactions and one day for commodities transactions. Related commission income and expense is recorded on a trade date basis. Principal Transactions Transactions in proprietary securities and related revenue and expenses are recorded on a trade date basis. Securities owned and securities sold but not yet purchased, are reported at fair value generally based upon quoted prices. Realized and unrealized changes in fair value are recognized in principal transactions, net in the period in which the change occurs. Investment Banking Fees Underwriting revenues and advisory fees from mergers, acquisitions and restructuring transactions are recorded when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues are presented net of related expenses. Non-reimbursable expenses associated with advisory transactions are recorded within other expenses. Interest Interest revenue represents interest earned on margin debit balances, securities borrowed transactions, reverse repurchase agreements, fixed income securities, firm investments, and cash and cash equivalents. Interest revenue is recognized in the period earned based upon average or daily asset balances, contractual cash flows, and interest rates. Asset Management Asset management fees are generally recognized over the period the related service is provided based on the account value at the valuation date per the respective asset management agreements. In certain circumstances, OAM is entitled to receive performance (or incentive) fees when the return on assets under management ("AUM") exceeds certain benchmark returns or other performance targets. Performance fees are generally based on investment performance over a 12-month period and are not subject to adjustment once the measurement period ends. Such fees are computed as of the fund's year-end when the measurement period ends and generally are recorded as earned in the fourth quarter of the Company's fiscal year. Asset management fees and performance fees are included in advisory fees in the consolidated statement of operations. Assets under management are not included as assets of the Company. Cash Sweep Income Cash sweep income consists of revenues earned from the Advantage Bank Deposit Program. Under this program, client funds are swept into deposit accounts at participating banks and are eligible for FDIC deposit insurance up to FDIC standard maximum deposit insurance amounts. The Company earns the net interest paid on these deposits after administrative fees are paid to the administrator of the program and a portion of interest is credited to clients. The net interest income earned in the period is recorded in other revenue in the consolidated statement of operations. Balance Sheet Cash and Cash Equivalents The Company defines cash equivalents as highly liquid investments with original maturities of less than 90 days that are not held for sale in the ordinary course of business. Receivables from / Payables to Brokers, Dealers and Clearing Organizations Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced or received. Securities borrowed transactions require the Company to deposit cash or other collateral with the lender. The Company receives cash or collateral in an amount generally in excess of the market value of securities loaned. The Company monitors the market value of securities borrowed and loaned on a daily basis and may require counterparties to deposit additional collateral or return collateral pledged, when appropriate. Securities failed to deliver and receive represent the contract value of securities which have not been received or delivered by settlement date. Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase Reverse repurchase agreements and securities sold under agreements to repurchase ("repurchase agreements") are treated as collateralized financing transactions and are recorded at their contractual amounts plus accrued interest. The resulting interest income and expense for these arrangements are included in interest income and interest expense in the consolidated statement of operations. Additionally, the Company elected the fair value option for repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. The Company can present the reverse repurchase and repurchase transactions on a net-by-counterparty basis when the specific offsetting requirements are satisfied. Notes Receivable Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisers and key revenue producers as part of the Company's overall growth strategy. These notes amortize over a service period of 3 to 5 years from the initial date of the note or based on productivity levels of employees. All such notes are contingent on the employees' continued employment with the Company. The unforgiven portion of the notes becomes due on demand in the event the employee departs during the service period. Amortization of notes receivable is included in the consolidated statement of operations in compensation and related expenses. Furniture, Equipment and Leasehold Improvements Furniture, equipment and leasehold improvements are stated at cost less accumulated depreciation. Depreciation of furniture, fixtures, and equipment is provided on a straight-line basis generally over 3 - 7 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the improvement or the remaining term of the lease. Leases with escalating rents are expensed on a straight-line basis over the life of the lease. Landlord incentives are recorded as deferred rent and amortized, as reductions to lease expense, on a straight-line basis over the life of the applicable lease. Deferred rent is included in accounts payable and other liabilities on the consolidated balance sheet. Drafts Payable Drafts payable represent amounts drawn by the Company against a bank. Foreign Currency Translations Foreign currency balances have been translated into U.S. dollars as follows: monetary assets and liabilities at exchange rates prevailing at period end; revenue and expenses at average rates for the period; and non-monetary assets and stockholders' equity at historical rates. The functional currency of the overseas operations is the local currency in each location except for Oppenheimer Europe Ltd. and Oppenheimer Investments Asia Limited which have the U.S. dollar as their functional currency. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company records interest and penalties accruing on unrecognized tax benefits in income (loss) before income taxes as interest expense and other expense, respectively, in its consolidated statement of operations. The Company permanently reinvests eligible earnings of its foreign subsidiaries and, accordingly, does not accrue any U.S. income taxes that would arise if such earnings were repatriated. New Accounting Pronouncements Recently Adopted In January 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items," to simplify income statement classification by removing the concept of extraordinary items. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. However, the existing requirement to separately present items that are of an unusual nature or occur infrequently on a pre-tax basis within income from continuing operations has been retained. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU did not have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, "Consolidation - Amendments to the Consolidation Analysis," to eliminate the deferral of the application of the revised consolidation rules and make changes to both the variable interest model and the voting model. Under this ASU, a general partner will not consolidate a partnership or similar entity under the voting model. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU impacted the disclosure of VIEs but did not have a material impact on the Company's consolidated financial statements. See Note 7, Variable interest entities, below. In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU did not have a material impact on the Company's consolidated financial statements. In May 2015, the FASB issued ASU No. 2015-07, "Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)," which removes the requirement to categorize within the fair value hierarchy all investments measured using the net asset value per share practical expedient and related disclosures. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU impacted the Company's fair value disclosures but did not have a material impact on the Company's consolidated financial statements. See Note 5, Fair value measurements, below. In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern," which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The ASU requires management of an entity to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements and also provide disclosures if there is "substantial doubt about the entity's ability to continue as a going concern." The ASU is effective for the annual reporting period in the fiscal year ending after December 15, 2016. The adoption of the ASU did not have an impact to the disclosure of the Company's consolidated financial statements. Recently Issued In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Additionally, the ASU expands the disclosure requirements for revenue recognition. The ASU was originally effective for the annual reporting period in the fiscal year that begins after December 15, 2016. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers: Deferral of the Effective Date," which provides amendments that defer the effective date of ASU 2014-09 by one year. In 2016, the FASB additionally issued ASU No. 2016-08, "Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net);" ASU No. 2016-10, "Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing;" and ASU 2016-12, "Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients." The amendments in these updates are effective either retrospectively to each prior reporting period presented, or as a cumulative-effect adjustment as of the date of adoption, during interim and annual periods beginning after December 15, 2017, with early adoption permitted beginning after December 15, 2016. The Company is currently assessing the impact of the adoption of this update on its financial condition, results of operations and cash flows, and disclosures related thereto. Based on the Company’s preliminary assessment, it has determined that the adoption of this update may defer the timing of the recognition of upfront investment banking advisory fees (e.g., retainer and engagement fees) until completion of the engagement. These upfront fees are currently recognized ratably over the service period. The new guidance may also require underwriting expenses to be recorded on a gross basis while the current guidance requires recognizing underwriting revenues net of related underwriting expenses. In addition, the new guidance requires enhanced disclosures, including revenue recognition policies to identify performance obligations to customers and significant judgments in measurement and recognition. The Company is continuing its assessment and may identify other revenue streams that are impacted. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities," which revises an entity's accounting related to the classification and measurement of investments in equity securities, changes the presentation of certain fair value changes relating to instrument specific credit risk for financial liabilities and amends certain disclosure requirements associated with the fair value of financial instruments. The ASU is effective for fiscal years beginning after December 15, 2017. The adoption of the ASU will not have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." The ASU requires the recognition of a right-of use asset and lease liability on the balance sheet by lessees for those leases classified as operating leases under previous guidance. The ASU is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of adopting this ASU which it expects will have a material impact on its consolidated financial statements. Since the Company has operating leases in over 100 locations, the Company expects to recognize a significant right-of use asset and lease liability on its consolidated balance sheet upon adoption of this ASU. In March 2016, the FASB issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting," which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and minimum statutory tax withholding requirements, as well as classification in the statement of cash flows. Under the prior guidance, the tax effects of deductions in excess of compensation expense ("windfalls"), as well as the tax effect of any deficiencies ("shortfalls") were recorded in equity to the extent of previously recognized windfalls, with any remaining shortfall recorded in income tax expense. Under the new guidance, all tax ef

Discontinued Operations (Notes)

Discontinued Operations (Notes)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	3. Discontinued operations OMHHF historically was engaged in the business of originating and servicing FHA-insured multifamily and healthcare facility loans and securitizing these loans into GNMA mortgage backed securities. OMHHF offered mortgage services to developers of commercial properties including apartments, elderly housing and nursing homes that satisfy FHA criteria. OMHHF maintained a mortgage servicing portfolio for which it provided a full array of services, including the collection of mortgage payments from mortgagors which were passed on to the mortgage holders, construction loan management and asset management. The Company owns an 83.68% controlling interest in OMHHF. The 16.32% noncontrolling interest belongs to one related party who is the President and Chief Executive Officer of OMHHF. On June 2, 2016, OMHHF entered into a definitive agreement to sell OMHHF's entire portfolio of permanent mortgage loans (consisting of over 480 permanent loans insured by the U.S. Department of Housing and Urban Development), including the associated mortgage servicing rights. On June 20, 2016, OMHHF completed the transaction for cash consideration of approximately $45.0 million . An amount equal to $1.4 million was withheld from the purchase price until such time as one loan in the mortgage loan portfolio becomes current or is modified. The Company recorded a net gain of $14.9 million related to this transaction which was included in discontinued operations in the consolidated statement of operations during the second quarter of 2016. During the second quarter of 2016, OMHHF also sold its business pipeline of mortgage loans for approximately $1.5 million . During the third quarter of 2016, th e Company recognized the $1.4 million that was withheld from the purchase price of the permanent mortgage loans as a result of the loan being modified as a gain. Also, OMHHF sold its construction loan portfolio and the associated mortgage servicing rights for approximately $3.8 million . OMHHF made a dividend distribution to the noncontrolling interest in the amount of $5.7 million during the three month period ended September 30, 2016. The Company determined that the sale of the assets of OMHHF met the criteria to be classified within discontinued operations, and the results of OMHHF are reported as discontinued operations in the consolidated statement of operations. Prior-period amounts have been recast for discontinued operations. The following is a summary of the assets and liabilities held for sale of OMHHF as of December 31, 2016 and December 31, 2015 : (Expressed in thousands) December 31, 2016 December 31, 2015 ASSETS Securities owned $ 3,560 $ 562 Loans held for sale — 60,234 Mortgage servicing rights — 28,168 Other assets 1,628 10,917 Total assets $ 5,188 $ 99,881 LIABILITIES Accounts payable and other liabilities $ 1,217 $ 64,124 Deferred tax liability — 10,556 Total liabilities $ 1,217 $ 74,680 The following is a summary of revenue and expenses of OMHHF for the years ended December 31, 2016 , 2015 and 2014: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 REVENUE Interest $ 943 $ 1,999 $ 1,739 Principal transactions, net (9,022 ) 5,323 2,184 Gain on sale of assets 16,475 — — Other 16,917 23,262 19,406 Total revenue 25,313 30,584 23,329 EXPENSES Compensation and related expenses 4,311 12,406 10,245 Communications and technology 221 361 420 Occupancy and equipment costs 415 302 341 Interest 408 994 845 Other 2,619 7,382 2,932 Total expenses 7,974 21,445 14,783 Income before income taxes $ 17,339 $ 9,139 $ 8,546 Income attributable to noncontrolling interest before income taxes $ 2,830 $ 1,491 $ 1,395 The following is a summary of cash flows of OMHHF for the years ended December 31, 2016 , 2015 and 2014: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Cash (used in) provided by operating activities $ (14,097 ) $ 3,322 $ 6,877 Cash provided by investing activities 45,448 — — Cash used in financing activities (1) (35,421 ) (249 ) (251 ) Net (decrease) increase in cash and cash equivalents $ (4,070 ) $ 3,073 $ 6,626 (1) Includes cash dividends paid to its parent (E.A. Viner International Co.) and noncontrolling interest of $29.4 million and $5.7 million , respectively, for the year ended December 31, 2016. Intraperiod U.S. GAAP tax allocation rules require that the Company allocates its provision for income taxes between continuing operations and other categories of earnings, such as discontinued operations. The tax effect related to categories other than continuing operations is generally their incremental tax effect. As a result, since the Company has a loss before income taxes from continuing operations and income from discontinued operations, the Company must first allocate an income tax benefit for the loss in continuing operations and then the incremental tax effect in discontinued operations.

Receivable From and Payable to

Receivable From and Payable to Brokers, Dealers and Clearing Organizations	12 Months Ended
	Dec. 31, 2016
Brokers and Dealers [Abstract]
Receivable From and Payable to Brokers, Dealers and Clearing Organizations	Receivable from and payable to brokers, dealers and clearing organizations (Expressed in thousands) As of December 31, 2016 2015 Receivable from brokers, dealers and clearing organizations consist of: Securities borrowed $ 154,090 $ 224,672 Receivable from brokers 25,768 49,458 Securities failed to deliver 6,172 7,799 Clearing organizations 26,081 25,030 Other 2,823 58,832 Total $ 214,934 $ 365,791 Payable to brokers, dealers and clearing organizations consist of: Securities loaned $ 179,875 $ 130,658 Payable to brokers 610 3,316 Securities failed to receive 11,523 21,513 Other 29,381 9,059 Total $ 221,389 $ 164,546

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Securities owned, securities sold but not yet purchased, investments and derivative contracts are carried at fair value with changes in fair value recognized in earnings each period. Securities Owned and Securities Sold But Not Yet Purchased at Fair Value (Expressed in thousands) As of December 31, 2016 2015 Owned (1) Sold Owned (1) Sold U.S. treasury, agency and sovereign obligations $ 459,051 $ 28,674 $ 509,614 $ 77,485 Corporate debt and other obligations 17,074 2,536 16,138 1,652 Mortgage and other asset-backed securities 5,024 31 3,504 27 Municipal obligations 56,750 516 30,132 — Convertible bonds 56,480 11,604 54,693 5,951 Corporate equities 31,174 41,689 34,475 41,378 Money markets 189 — 35 — Auction rate securities 84,926 — 86,802 — Total $ 710,668 $ 85,050 $ 735,393 $ 126,493 (1) $3.6 million and $562,000 is included in assets held for sale on the consolidated balance sheet as of December 31, 2016 and 2015 , respectively. See Note 3 for details. Securities owned and securities sold but not yet purchased, consist of trading and investment securities at fair values. Included in securities owned as of December 31, 2016 are corporate equities with estimated fair values of approximately $14.3 million ( $14.0 million as of December 31, 2015 ), which are related to deferred compensation liabilities to certain employees included in accrued compensation on the consolidated balance sheet. Valuation Techniques A description of the valuation techniques applied and inputs used in measuring the fair value of the Company's financial instruments is as follows: U.S. Government Obligations U.S. Treasury securities are valued using quoted market prices obtained from active market makers and inter-dealer brokers. U.S. Agency Obligations U.S. agency securities consist of agency issued debt securities and mortgage pass-through securities. Non-callable agency issued debt securities are generally valued using quoted market prices. Callable agency issued debt securities are valued by benchmarking model-derived prices to quoted market prices and trade data for identical or comparable securities. The fair value of mortgage pass-through securities are model driven with respect to spreads of the comparable to-be-announced ("TBA") security. Sovereign Obligations The fair value of sovereign obligations is determined based on quoted market prices when available or a valuation model that generally utilizes interest rate yield curves and credit spreads as inputs. Corporate Debt and Other Obligations The fair value of corporate bonds is estimated using recent transactions, broker quotations and bond spread information. Mortgage and Other Asset-Backed Securities The Company holds non-agency securities collateralized by home equity and various other types of collateral which are valued based on external pricing and spread data provided by independent pricing services. When specific external pricing is not observable, the valuation is based on yields and spreads for comparable bonds. Municipal Obligations The fair value of municipal obligations is estimated using recently executed transactions, broker quotations, and bond spread information. Convertible Bonds The fair value of convertible bonds is estimated using recently executed transactions and dollar-neutral price quotations, where observable. When observable price quotations are not available, fair value is determined based on cash flow models using yield curves and bond spreads as key inputs. Corporate Equities Equity securities and options are generally valued based on quoted prices from the exchange or market where traded. To the extent quoted prices are not available, fair values are generally derived using bid/ask spreads. Loans Held for Sale The Company elected the fair value option for loans held for sale and determines the fair value using both a discounted cash flow model (see key assumptions used in determining mortgage servicing rights below) and quoted observable prices from market participants. Interest Rate Lock Commitments OMHHF records an interest rate lock commitment upon the commitment to originate a loan with a borrower. This commitment, which can be an asset or liability, is recognized at fair value, which reflects the fair value of the contractual loan origination related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. The interest rate lock commitments are valued using a discounted cash flow model developed based on U.S. Treasury rate changes and other observable market data. The fair value is determined after considering the potential impact of collateralization. To-Be-Announced Sale Contracts TBA sale contracts of permanent loans originated or purchased at OMHHF are based on observable market prices of recently executed purchases of similar loans which are then used to derive a market implied spread, which in turn is used as the primary input in estimating the fair value of loans at the measurement date. TBA sale contracts of construction loans originated or purchased at OMHHF are based on observable market prices of recently executed purchases. Mortgage Servicing Rights The Company's MSRs are measured at fair value on a nonrecurring basis. The MSRs are initially measured at fair value on the loan securitization date and subsequently measured on the amortized cost basis subject to quarterly impairment testing. MSRs do not trade in active open markets with readily observable pricing. Therefore, the Company uses a discounted cash flow model to estimate the fair value of MSRs. The discounted cash flow model calculates the present value of estimated future net servicing income using inputs such as contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. The Company reassesses and periodically adjusts the underlying inputs and assumptions used in the model to reflect observable and unobservable market conditions and assumptions that a market participant would consider in valuing a MSR asset. MSRs are carried at the lower of amortized cost or estimated fair value. The following key assumptions were used in determining the initial fair value of MSRs: Discount Rate – The discount rate used for originated permanent and construction loans averaged approximately 12% . Estimated Life – The estimated life of the MSRs is derived using a continuous prepayment rate ("CPR") assumption which estimates projected prepayments of the loan portfolio by considering factors such as note rates, lockouts, and prepayment penalties at the loan level. The CPR rates used are 0% until such time that a loan's prepayment penalty rate hits 4% of the unpaid principal balance of the loan with the vast majority of CPR speeds ranging from 10% to 15% thereafter, with an average of 12% . Servicing Costs – The estimated future cost to service the loans on an annual basis per loan averages approximately $1,250 for a permanent loan, with a considerably higher cost to service during the construction phase. The Company does not anticipate any credit losses on the commercial mortgages it services since all of the mortgages are insured for and guaranteed against credit losses by the FHA and the Government National Mortgage Association ("GNMA") and are thus guaranteed by the U.S. government. Auction Rate Securities In February 2010, Oppenheimer finalized settlements with each of the New York Attorney General's office ("NYAG") and the Massachusetts Securities Division ("MSD" and, together with the NYAG, the "Regulators") concluding investigations and administrative proceedings by the Regulators concerning Oppenheimer's marketing and sale of ARS. Pursuant to the settlements with the Regulators, Oppenheimer agreed to extend offers to repurchase ARS from certain of its clients subject to certain terms and conditions more fully described below. As of December 31, 2016 , the Company had $5.0 million of outstanding ARS purchase commitments related to the settlements with the Regulators. In addition to the settlements with the Regulators, Oppenheimer has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is obligated to purchase ARS. Pursuant to completed Purchase Offers (as defined) under the settlements with the Regulators and client related legal settlements and awards to purchase ARS, as of December 31, 2016 , the Company purchased and holds (net of redemptions) approximately $88.1 million in ARS from its clients. In addition, the Company is committed to purchase another $26.0 million in ARS from clients through 2020 under legal settlements and awards. The ARS positions that the Company owns and is committed to purchase primarily represent auction rate preferred securities issued by closed-end funds and, to a lesser extent, municipal auction rate securities which are municipal bonds wrapped by municipal bond insurance and student loan auction rate securities which are asset-backed securities backed by student loans. Interest rates on ARS typically reset through periodic auctions. Due to the auction mechanism and generally liquid markets, ARS have historically been categorized as Level 1 of the fair value hierarchy. Beginning in February 2008, uncertainties in the credit markets resulted in substantially all of the ARS market experiencing failed auctions. Once the auctions failed, the ARS could no longer be valued using observable prices set in the auctions. The Company has used less observable determinants of the fair value of ARS, including the strength in the underlying credits, announced issuer redemptions, completed issuer redemptions, and announcements from issuers regarding their intentions with respect to their outstanding ARS. The Company has also developed an internal methodology to discount for the lack of liquidity and non-performance risk of the failed auctions. Due to liquidity problems associated with the ARS market, ARS that lack liquidity are setting their interest rates according to a maximum rate formula. For example, an auction rate preferred security maximum rate may be set at 200% of a short-term index such as LIBOR or U.S. Treasury yield. For fair value purposes, the Company has determined that the maximum spread would be an adequate risk premium to account for illiquidity in the market. Accordingly, the Company applies a spread to the short-term index for each asset class to derive the discount rate. The Company uses short-term U.S. Treasury yields as its benchmark short-term index. The risk of non-performance is typically reflected in the prices of ARS positions where the fair value is derived from recent trades in the secondary market. The ARS purchase commitment, or derivative asset or liability, arises from both the settlements with the Regulators and legal settlements and awards. The ARS purchase commitment represents the difference between the principal value and the fair value of the ARS the Company is committed to purchase. The Company utilizes the same valuation methodology for the ARS purchase commitment as it does for the ARS it owns. Additionally, the present value of the future principal value of ARS purchase commitments under legal settlements and awards is used in the discounted valuation model to reflect the time value of money over the period of time that the commitments are outstanding. The amount of the ARS purchase commitment only becomes determinable once the Company has met with its primary regulator and the NYAG and agreed upon a buyback amount, commenced the ARS buyback offer to clients, and received notice from its clients which ARS they are tendering. As a result, it is not possible to observe the current yields actually paid on the ARS until all of these events have happened which is typically very close to the time that the Company actually purchases the ARS. For ARS purchase commitments pursuant to legal settlements and awards, the criteria for purchasing ARS from clients is based on the nature of the settlement or award which will stipulate a time period and amount for each repurchase. The Company will not know which ARS will be tendered by the client until the stipulated time for repurchase is reached. Therefore, the Company uses the current yields of ARS owned in its discounted valuation model to determine a fair value of ARS purchase commitments. The Company also uses these current yields by asset class (i.e., auction rate preferred securities, municipal auction rate securities, and student loan auction rate securities) in its discounted valuation model to determine the fair value of ARS purchase commitments. In addition, the Company uses the discount rate and duration of ARS owned, by asset class, as a proxy for the duration of ARS purchase commitments. Additional information regarding the valuation technique and inputs for ARS used is as follows: (Expressed in thousands) Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2016 Product Principal Valuation Adjustment Fair Value Valuation Technique Unobservable Input Range Weighted Average Auction Rate Securities Owned (1) Auction Rate Preferred Securities $ 87,800 $ 3,171 $ 84,629 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Municipal Auction Rate Securities 25 1 24 Discounted Cash Flow Discount Rate (4) 3.16% 3.16% Duration 4.5 Years 4.5 Years Current Yield (3) 2.05% 2.05% Student Loan Auction Rate Securities 300 27 273 Discounted Cash Flow Discount Rate (5) 3.45% 3.45% Duration 7.0 Years 7.0 Years Current Yield (3) 1.98% 1.98% $ 88,125 $ 3,199 $ 84,926 Auction Rate Securities Commitments to Purchase (6) Auction Rate Preferred Securities $ 6,654 $ (849 ) $ 7,503 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Auction Rate Preferred Securities 24,329 643 23,686 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Municipal Auction Rate Securities 2 — 2 Discounted Cash Flow Discount Rate (4) 3.16% 3.16% Duration 4.5 Years 4.5 Years Current Yield (3) 2.05% 2.05% Student Loan Auction Rate Securities 27 2 25 Discounted Cash Flow Discount Rate (5) 3.45% 3.45% Duration 7.0 Years 7.0 Years Current Yield (3) 1.98% 1.98% $ 31,012 $ (204 ) $ 31,216 Total $ 119,137 $ 2,995 $ 116,142 (1) Principal amount represents the par value of the ARS and is included in securities owned on the consolidated balance sheet as of December 31, 2016 . The valuation adjustment amount is included as a reduction to securities owned on the consolidated balance sheet as of December 31, 2016 . (2) Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.69% . (3) Based on current yields for ARS positions owned. (4) Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.81% . (5) Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.25% . (6) Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amounts, unrealized gains and losses, are included in other assets and accounts payable and other liabilities, respectively, on the consolidated balance sheet as of December 31, 2016 . The fair value of ARS and ARS purchase commitments is particularly sensitive to movements in interest rates. Increases in short-term interest rates would increase the discount rate input used in the ARS valuation and thus reduce the fair value of the ARS (increase the valuation adjustment). Conversely, decreases in short-term interest rates would decrease the discount rate and thus increase the fair value of ARS (decrease the valuation adjustment). However, an increase (decrease) in the discount rate input would be partially mitigated by an increase (decrease) in the current yield earned on the underlying ARS asset increasing the cash flows and thus the fair value. Furthermore, movements in short term interest rates would likely impact the ARS duration (i.e., sensitivity of the price to a change in interest rates), which would also have a mitigating effect on interest rate movements. For example, as interest rates increase, issuers of ARS have an incentive to redeem outstanding securities as servicing the interest payments gets prohibitively expensive which would lower the duration assumption thereby increasing the ARS fair value. Alternatively, ARS issuers are less likely to redeem ARS in a lower interest rate environment as it is a relatively inexpensive source of financing which would increase the duration assumption thereby decreasing the ARS fair value. For example, see the following sensitivities: • The impact of a 25 basis point increase in the discount rate at December 31, 2016 would result in a decrease in the fair value of $1.1 million (does not consider a corresponding reduction in duration as discussed above). • The impact of a 50 basis point increase in the discount rate at December 31, 2016 would result in a decrease in the fair value of $2.2 million (does not consider a corresponding reduction in duration as discussed above). These sensitivities are hypothetical and are based on scenarios where they are "stressed" and should be used with caution. These estimates do not include all of the interplay among assumptions and are estimated as a portfolio rather than as individual assets. Due to the less observable nature of these inputs, the Company categorizes ARS in Level 3 of the fair value hierarchy. As of December 31, 2016 , the Company had a valuation adjustment (unrealized loss) of $3.2 million for ARS owned which is included as a reduction to securities owned on the consolidated balance sheet. As of December 31, 2016 , the Company also had a net valuation adjustment (unrealized gain) of $204,000 on ARS purchase commitments from settlements with the Regulators and legal settlements and awards, comprised of unrealized gains of $849,000 and unrealized losses of $645,000 , which are included in other assets and accounts payable and other liabilities, respectively, on the consolidated balance sheet. The total valuation adjustment was $3.0 million as of December 31, 2016 . The valuation adjustment represents the difference between the principal value and the fair value of the ARS owned and ARS purchase commitments. Investments In its role as general partner in certain hedge funds and private equity funds, the Company, through its subsidiaries, holds direct investments in such funds. The Company uses the net asset value of the underlying fund as a basis for estimating the fair value of its investment. The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2016 : (Expressed in thousands) Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Hedge funds (1) $ 2,423 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,425 1,251 N/A N/A $ 6,848 $ 1,251 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period greater than one year. (2) Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals without the consent of the general partner. The lock-up period of the private equity funds can extend to 10 years. Valuation Process The Company's Finance & Accounting ("F&A") group is responsible for the Company's fair value policies, processes and procedures. F&A is independent from the business units and trading desks and is headed by the Company's Chief Financial Officer ("CFO"), who has final authority over the valuation of the Company's financial instruments. The Finance Control Group ("FCG") within F&A is responsible for daily profit and loss reporting, front-end trading system position reconciliations, monthly profit and loss reporting, and independent price verification procedures. For financial instruments categorized in Levels 1 and 2 of the fair value hierarchy, the FCG performs a monthly independent price verification to determine the reasonableness of the prices provided by the Company's independent pricing vendor. The FCG uses its third-party pricing vendor, executed transactions, and broker-dealer quotes for validating the fair values of financial instruments. For financial instruments categorized in Level 3 of the fair value hierarchy measured on a recurring basis, primarily for ARS, a group comprised of the CFO, the Controller, and an Operations Director are responsible for the ARS valuation model and resulting fair valuations. Procedures performed include aggregating all ARS owned by type from firm inventory accounts and ARS purchase commitments from regulatory and legal settlements and awards provided by the Legal Department. Observable and unobservable inputs are aggregated from various sources and entered into the ARS valuation model. For unobservable inputs, the group reviews the appropriateness of the inputs to ensure consistency with how a market participant would arrive at the unobservable input. For example, for the duration assumption, the group would consider recent policy statements regarding short-term interest rates by the Federal Reserve and recent ARS issuer redemptions and announcements for future redemptions. The model output is reviewed for reasonableness and consistency. Where available, comparisons are performed between ARS owned or committed to purchase to ARS that are trading in the secondary market. For financial instruments categorized in Level 3 of the fair value hierarchy measured on a non-recurring basis, primarily for MSRs, the OMHHF Valuation Committee, which was comprised of the OMHHF President & Chief Executive Officer and OMHHF Chief Operating Officer, was responsible for the MSR model and resulting fair valuations prior to the dissolution of OMHHF. The OMHHF Valuation Committee performed its review of the model and assumptions and its impairment analysis on a quarterly basis. On an annual basis, the Company utilized an external valuation consultant to validate that the internal MSR model is functioning appropriately. The OMHHF Valuation Committee compared assumptions used for unobservable inputs, such as for discount rates, estimated life, and costs of servicing, to that used by the external valuation consultant for reasonableness. The model output and resulting valuation multiples were reviewed for reasonableness and consistency. Where available, comparisons were performed to recent MSR sales in the secondary market. The Company's management reviewed the results of both the quarterly reviews and annual impairment analysis. Assets and Liabilities Measured at Fair Value The Company's assets and liabilities, recorded at fair value on a recurring basis as of December 31, 2016 and 2015 , have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 (Expressed in thousands) Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 16,242 $ — $ — $ 16,242 Deposits with clearing organizations 26,437 — — 26,437 Securities owned: U.S. Treasury securities (1) 418,888 — — 418,888 U.S. Agency securities 5,878 32,391 — 38,269 Sovereign obligations — 1,894 — 1,894 Corporate debt and other obligations — 17,074 — 17,074 Mortgage and other asset-backed securities — 5,024 — 5,024 Municipal obligations — 56,706 44 56,750 Convertible bonds — 56,480 — 56,480 Corporate equities 31,174 — — 31,174 Money markets 189 — — 189 Auction rate securities — — 84,926 84,926 Securities owned, at fair value 456,129 169,569 84,970 710,668 Investments (2) — — 158 158 Securities purchased under agreements to resell (3) — 24,006 — 24,006 Derivative contracts: TBAs — 814 — 814 ARS purchase commitments — — 849 849 Derivative contracts, total — 814 849 1,663 Total $ 498,808 $ 194,389 $ 85,977 $ 779,174 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 28,662 $ — $ — $ 28,662 U.S. Agency securities — 12 — 12 Corporate debt and other obligations — 2,536 — 2,536 Mortgage and other asset-backed securities — 31 — 31 Municipal obligations — 516 — 516 Convertible bonds — 11,604 — 11,604 Corporate equities 41,689 — — 41,689 Securities sold but not yet purchased, at fair value 70,351 14,699 — 85,050 Derivative contracts: Futures 166 — — 166 Foreign exchange forward contracts 1 — — 1 TBAs — 1,212 — 1,212 ARS purchase commitments — — 645 645 Derivative contracts, total 167 1,212 645 2,024 Total $ 70,518 $ 15,911 $ 645 $ 87,074 (1) $3.6 million is included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (2) Included in other assets on the consolidated balance sheet. (3) Included in securities purchased under agreements to resell where the Company has elected fair value option treatment. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 (Expressed in thousands) Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 13,000 $ — $ — $ 13,000 Deposits with clearing organizations 31,456 — — 31,456 Securities owned: U.S. Treasury securities (1) 436,533 — — 436,533 U.S. Agency securities 25,240 46,176 — 71,416 Sovereign obligations — 1,665 — 1,665 Corporate debt and other obligations — 16,138 — 16,138 Mortgage and other asset-backed securities — 3,504 — 3,504 Municipal obligations — 30,051 81 30,132 Convertible bonds — 54,693 — 54,693 Corporate equities 34,475 — — 34,475 Money markets 35 — — 35 Auction rate securities — — 86,802 86,802 Securities owned, at fair value 496,283 152,227 86,883 735,393 Investments (2) — — 157 157 Loans held for sale (3) — 60,234 — 60,234 Securities purchased under agreements to resell (4) — 206,499 — 206,499 Derivative contracts: TBAs — 6,448 — 6,448 Interest rate lock commitments — — 9,161 9,161 Derivative contracts, total — 6,448 9,161 15,609 Total $ 540,739 $ 425,408 $ 96,201 $ 1,062,348 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 75,653 $ — $ — $ 75,653 U.S. Agency securities — 15 — 15 Sovereign Obligations — 1,817 — 1,817 Corporate debt and other obligations — 1,652 — 1,652 Mortgage and other asset-backed securities — 27 — 27 Convertible bonds — 5,951 — 5,951 Corporate equities 41,378 — — 41,378 Securities sold but not yet purchased, at fair value 117,031 9,462 — 126,493 Derivative contracts: Futures 249 — — 249 Foreign exchange forward contracts 2 — — 2 TBAs — 11,619 — 11,619 Interest rate lock commitments — — 923 923 ARS purchase commitments — — 1,369 1,369 Derivative contracts, total 251 11,619 2,292 14,162 Total $ 117,282 $ 21,081 $ 2,292 $ 140,655 (1) $562,000 is included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (2) Included in other assets on the consolidated balance sheet. (3) Included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (4) Included in securities purchased under agreements to resell where the Company has elected fair value option treatment. There were no transfers between any of the levels in the years ended December 31, 2016 and 2015 . The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2016 and 2015 : (Expressed in thousands) Level 3 Assets and Liabilities For the Year Ended December 31, 2016 Beginning Balance Total Realized and Unrealized Gains (Losses) (4)(5) Purchases and Issuances Sales and Settlements Transfers In (Out) Ending Balance Assets Municipal obligations $ 81 $ 25 $ — $ (62 ) $ — $ 44 Auction rate securities (1)(6)(7) 86,802 1,974 13,775 (17,625 ) — 84,926 Interest rate lock commitments (2) 9,161 4,345 — (13,506 ) — — Investments 157 1 — — — 158 ARS purchase commitments (3) — 849 — — — 849 Liabilities Interest rate lock commitments (2) 923 923 — — — — ARS purchase commitments (3) 1,369 724 — — — 645 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination-related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. (3) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (4) Included in principal transactions in the consolidated statement of operations, except for investments which are included in other income in the consolidated statement of operations. (5) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. (6) Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS. (7) Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards. (Expressed in thousands) Level 3 Assets and Liabilities For the Year Ended December 31, 2015 Beginning Balance Total Realized and Unrealized Gains (Losses) (4)(5) Purchases and Issuances Sales and Settlements Transfers In (Out) Ending Balance Assets Municipal obligations $ 164 $ (63 ) $ — $ (20 ) $ — $ 81 Auction rate securities (1)(6)(7) 91,422 1,955 17,950 (24,525 ) — 86,802 Interest rate lock commitments (2) 7,576 1,585 — — — 9,161 Investments 193 (36 ) — — — 157 Liabilities Interest rate lock commitments (2) 1,222 299 — — — 923 ARS purchase commitments (3) 902 (467 ) — — — 1,369 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination-related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. (3) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (4) Included in principal transactions in the consolidated statement of operations, except for investments which are included in other income in the consolidated statement of operations. (5) Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date. (6) Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS. (7) Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards. Financial Instruments Not Measured at Fair Value The table below pr

Collateralized Transactions

Collateralized Transactions	12 Months Ended
	Dec. 31, 2016
Brokers and Dealers [Abstract]
Collateralized Transactions	Collateralized transactions The Company enters into collateralized borrowing and lending transactions in order to meet customers' needs and earn residual interest rate spreads, obtain securities for settlement and finance trading inventory positions. Under these transactions, the Company either receives or provides collateral, including U.S. Government and Agency, asset-backed, corporate debt, equity, and non-U.S. Government and Agency securities. The Company obtains short-term borrowings primarily through bank call loans. Bank call loans are generally payable on demand and bear interest at various rates but not exceeding the broker call rate. As of December 31, 2016 , bank call loans were $145.8 million ( $100.2 million as of December 31, 2015 ). As of December 31, 2016 , such loans were collateralized by firm and customer securities with market values of approximately $138.6 million and $288.1 million , respectively, with commercial banks. As of December 31, 2016 , the Company had approximately $1.2 billion of customer securities under customer margin loans that are available to be pledged, of which the Company has re-pledged approximately $136.2 million under securities loan agreements. As of December 31, 2016 , the Company had pledged $284.0 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers. As of December 31, 2016 , the Company had no outstanding letters of credit. The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions to, among other things, acquire securities to cover short positions and settle other securities obligations, to accommodate customers' needs and to finance the Company's inventory positions. Except as described below, repurchase and reverse repurchase agreements, principally involving government and agency securities, are carried at amounts at which the securities subsequently will be resold or reacquired as specified in the respective agreements and include accrued interest. Repurchase and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase and reverse repurchase agreements are executed with the same counterparty, have the same explicit settlement date, are executed in accordance with a master netting arrangement, the securities underlying the repurchase and reverse repurchase agreements exist in "book entry" form and certain other requirements are met. The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of December 31, 2016 : (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Treasury and Agency securities $ 378,084 Securities loaned: Equity securities 179,875 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 557,959 The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of December 31, 2016 and 2015 : As of December 31, 2016 (Expressed in thousands) Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Amounts of Assets Presented on the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 24,006 $ — $ 24,006 $ (23,972 ) $ — $ 34 Securities borrowed (1) 154,090 — 154,090 (150,510 ) — 3,580 Total $ 178,096 $ — $ 178,096 $ (174,482 ) $ — $ 3,614 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 378,084 $ — $ 378,084 $ (376,273 ) $ — $ 1,811 Securities loaned (2) 179,875 — 179,875 (171,991 ) — 7,884 Total $ 557,959 $ — $ 557,959 $ (548,264 ) $ — $ 9,695 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. As of December 31, 2015 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 282,042 $ (75,543 ) $ 206,499 $ (203,266 ) $ — $ 3,233 Securities borrowed (1) 224,672 — 224,672 (219,099 ) — 5,573 Total $ 506,714 $ (75,543 ) $ 431,171 $ (422,365 ) $ — $ 8,806 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 726,988 $ (75,543 ) $ 651,445 $ (645,498 ) $ — $ 5,947 Securities loaned (2) 130,658 — 130,658 (122,650 ) — 8,008 Total $ 857,646 $ (75,543 ) $ 782,103 $ (768,148 ) $ — $ 13,955 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. Certain of the Company's repurchase agreements and reverse repurchase agreements are carried at fair value as a result of the Company's fair value option election. The Company elected the fair value option for those repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. The Company has elected the fair value option for these instruments to more accurately reflect market and economic events in its earnings and to mitigate a potential imbalance in earnings caused by using different measurement attributes (i.e. fair value versus carrying value) for certain assets and liabilities. As of December 31, 2016 , the fair value of the reverse repurchase agreements and repurchase agreements for which the fair value option was elected were $24.0 million and $nil , respectively. The Company receives collateral in connection with securities borrowed and reverse repurchase agreement transactions and customer margin loans. Under many agreements, the Company is permitted to sell or re-pledge the securities received (e.g., use the securities to enter into securities lending transactions, or deliver to counterparties to cover short positions). As of December 31, 2016 , the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $148.7 million ( $217.0 million as of December 31, 2015 ) and $24.0 million ( $278.8 million as of December 31, 2015 ), respectively, of which the Company has sold and re-pledged approximately $37.4 million ( $36.0 million as of December 31, 2015 ) under securities loaned transactions and $24.0 million under repurchase agreements ( $278.8 million as of December 31, 2015 ). The Company pledges certain of its securities owned for securities lending and repurchase agreements and to collateralize bank call loan transactions. The carrying value of pledged securities owned that can be sold or re-pledged by the counterparty was $438.4 million , as presented on the face of the consolidated balance sheet as of December 31, 2016 ( $546.3 million as of December 31, 2015 ). The carrying value of securities owned by the Company that have been loaned or pledged to counterparties where those counterparties do not have the right to sell or re-pledge the collateral was $138.6 million as of December 31, 2016 ( $142.7 million as of December 31, 2015 ). The Company manages credit exposure arising from repurchase and reverse repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the Company, in the event of a customer default, the right to liquidate securities and the right to offset a counterparty's rights and obligations. The Company manages market risk of repurchase agreements and securities loaned by monitoring the market value of collateral held and the market value of securities receivable from others. It is the Company's policy to request and obtain additional collateral when exposure to loss exists. In the event the counterparty is unable to meet its contractual obligation to return the securities, the Company may be exposed to off-balance sheet risk of acquiring securities at prevailing market prices. Credit Concentrations Credit concentrations may arise from trading, investing, underwriting and financing activities and may be impacted by changes in economic, industry or political factors. In the normal course of business, the Company may be exposed to risk in the event customers, counterparties including other brokers and dealers, issuers, banks, depositories or clearing organizations are unable to fulfill their contractual obligations. The Company seeks to mitigate these risks by actively monitoring exposures and obtaining collateral as deemed appropriate. Included in receivable from brokers, dealers and clearing organizations as of December 31, 2016 are receivables from two major U.S. broker-dealers totaling approximately $55.0 million . Warehouse Facilities The Company reached an agreement with RBS Citizens, NA ("Citizens") that was announced in July 2012, whereby the Company, through OPY Credit Corp., will introduce lending opportunities to Citizens, which Citizens can elect to accept and in which the Company will participate in the fees earned from any related commitment by Citizens. The Company can also in certain circumstances assume a portion of Citizen's syndication and lending risk under such loans, and if it does so it shall be obligated to secure such obligations via a cash deposit determined through risk-based formulas. Neither the Company nor Citizens is obligated to make any specific loan or to commit any minimum amount of lending capacity to the relationship. The agreement also calls for Citizens and the Company at their option to jointly participate in the arrangement of various loan syndications. As of December 31, 2016 , there were no loans in place. The Company is obligated to settle transactions with brokers and other financial institutions even if its clients fail to meet their obligations to the Company. Clients are required to complete their transactions on the settlement date, generally one to three business days after the trade date. If clients do not fulfill their contractual obligations, the Company may incur losses. The Company has clearing/participating arrangements with the National Securities Clearing Corporation ("NSCC"), the Fixed Income Clearing Corporation ("FICC"), R.J. O'Brien & Associates (commodities transactions), Mortgage-Backed Securities and Clearing Corporation (a division of FICC) and others. With respect to its business in reverse repurchase and repurchase agreements, substantially all open contracts as of December 31, 2016 are with the FICC . In addition, the Company clears its non-U.S. international equities business carried on by Oppenheimer Europe Ltd. through BNP Paribas Securities Services. The clearing organizations have the right to charge the Company for losses that result from a client's failure to fulfill its contractual obligations. Accordingly, the Company has credit exposures with these clearing brokers. The clearing brokers can re-hypothecate the securities held on behalf of the Company. As the right to charge the Company has no maximum amount and applies to all trades executed through the clearing brokers, the Company believes there is no maximum amount assignable to this right. As of December 31, 2016 , the Company had recorded no liabilities with regard to this right. The Company's policy is to monitor the credit standing of the clearing brokers and banks with which it conducts business. OMHHF, which historically was engaged in commercial mortgage origination and servicing, obtained an uncommitted warehouse facility line through PNC Bank ("PNC") under which OMHHF pledged FHA-guaranteed mortgages for a period averaging 15 business days and PNC provided a facility that allowed OMHHF to fund the loan at the closing table. Warehouse payable represents the warehouse line amount outstanding with PNC and is included in liabilities held for sale on the consolidated balance sheet and cash flows from operating activities in the consolidated statement of cash flows. OMHHF repays PNC upon the securitization of the mortgage by GNMA and the delivery of the security to the counter-party for payment pursuant to a contemporaneous sale on the date the mortgage is securitized. As of December 31, 2016 , OMHHF had $nil ( $54.3 million as of December 31, 2015 ) outstanding under the warehouse facility line at a variable interest rate of one month LIBOR plus a spread. The Company earns a spread between the interest earned on the loans originated by the Company and the interest incurred on amounts drawn from the warehouse facility. Interest expense for the year ended December 31, 2016 was $387,000 ( $928,500 in 2015 and $570,700 in 2014 ). As discussed in Note 5, Fair value measurements, the Company enters into TBA sale contracts to offset exposures related to commitments to provide funding for FHA loans at OMHHF. In the normal course of business, the Company may be exposed to the risk that counterparties to these TBA sale contracts are unable to fulfill their contractual obligations.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2016
Variable Interest Entity [Abstract]
Variable Interest Entities	Variable interest entities The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. For funds that the Company has concluded are not VIEs, the Company then evaluates whether the fund is a partnership or similar entity. If the fund is a partnership or similar entity, the Company evaluates the fund under the partnership consolidation guidance. Pursuant to that guidance, the Company consolidates funds in which it is the general partner, unless presumption of control by the Company can be overcome. This presumption is overcome only when unrelated investors in the fund have the substantive ability to liquidate the fund or otherwise remove the Company as the general partner without cause, based on a simple majority vote of unaffiliated investors, or have other substantive participating rights. If the presumption of control can be overcome, the Company accounts for its interest in the fund pursuant to the equity method of accounting. The Company serves as general partner of hedge funds and private equity funds that were established for the purpose of providing investment alternatives to both its institutional and qualified retail clients. The Company holds variable interests in these funds as a result of its right to receive management and incentive fees. The Company's investment in and additional capital commitments to these hedge funds and private equity funds are also considered variable interests. The Company's additional capital commitments are subject to call at a later date and are limited in amount. The Company assesses whether it is the primary beneficiary of the hedge funds and private equity funds in which it holds a variable interest in the form of general and limited partner interests. In each instance, the Company has determined that it is not the primary beneficiary and therefore need not consolidate the hedge funds or private equity funds. The subsidiaries' general and limited partnership interests, additional capital commitments, and management fees receivable represent its maximum exposure to loss. The subsidiaries' general partnership and limited partnership interests and management fees receivable are included in other assets on the consolidated balance sheet. The following tables set forth the total VIE assets, the carrying value of the subsidiaries' variable interests, and the Company's maximum exposure to loss in Company-sponsored non-consolidated VIEs in which the Company holds variable interests and other non-consolidated VIEs in which the Company holds variable interests as of December 31, 2016 and 2015 : (Expressed in thousands) As of December 31, 2016 Total VIE Assets (1) Carrying Value of the Capital Commitments Maximum Exposure to Loss in Non-consolidated VIEs Assets (2) Liabilities Hedge funds $ 296,807 $ 706 $ — $ — $ 706 Private equity funds 26,300 15 — 2 17 Total $ 323,107 $ 721 $ — $ 2 $ 723 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet. (Expressed in thousands) As of December 31, 2015 Total (1) Carrying Value of the Capital Maximum Assets (2) Liabilities Hedge funds $ 1,775,503 $ 1,354 $ — $ — $ 1,354 Private equity funds 54,800 27 — 2 29 Total $ 1,830,303 $ 1,381 $ — $ 2 $ 1,383 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet.

Commercial Mortgage Banking

Commercial Mortgage Banking	12 Months Ended
	Dec. 31, 2016
Transfers and Servicing [Abstract]
Commercial Mortgage Banking	Commercial mortgage banking The Commercial Mortgage Banking segment, which operates out of OMHHF, became a discontinued operation during second quarter of 2016. See Note 3 for further details. Loan Origination Fees OMHHF recognizes origination fees and other direct origination costs when it enters into a rate lock commitment with the borrower. The origination fees and other direct origination costs are recognized when OMHHF enters into a commitment to sell loans to third parties. In accordance with Housing and Urban Development ("HUD") guidelines, OMHHF will, with HUD's approval and for certain loan programs, apply the premium income towards the payment of prepayment costs that customers will incur on their prior mortgage. These costs are netted with revenues from premium income that are otherwise earned from these loan refinancings or modifications. Prepayment costs recorded as contra-revenue against premium income was $6.5 million for the year ended December 31, 2016 ( $25.7 million in 2015 and $9.8 million in 2014 ). Funding Commitments OMHHF provides its clients with commitments to fund FHA-insured permanent or constructions loans. Upon providing these commitments to fund, OMHHF enters into TBA sale contracts directly or indirectly with counterparties to offset its exposures related to these funding commitments. See Note 5, Fair value measurements, for more information. Loans Held For Sale OMHHF advances funds from its own cash reserves in addition to obtaining financing through warehouse facilities in order to fund initial loan closing and subsequent construction loan draws. Prior to the GNMA securitization of a loan, a loan held for sale is recorded on the consolidated balance sheet. Loans held for sale are recorded at fair value through earnings. Escrows Held in Trust Custodial escrow accounts relating to loans serviced by OMHHF totaled $nil as of December 31, 2016 ( $421.5 million as of December 31, 2015 ). These amounts are not included on the consolidated balance sheets as such amounts are not OMHHF’s assets. Certain cash deposits at financial institutions exceeded the FDIC-insured limits or other institutionally provided insurance. The combined uninsured balance with relation to escrow accounts as of December 31, 2016 was $nil . OMHHF places these deposits with major financial institutions where it believes the risk is minimal and that meet or exceed GNMA required credit ratings. The total unpaid principal balance of loans the Company was servicing for various institutional investors as of December 31, 2016 and 2015 was as follows: (Expressed in thousands) 2016 2015 Unpaid principal balance of loans $ — $ 3,974,292 Mortgage Servicing Rights OMHHF purchases commitments or originates mortgage loans that are sold and securitized into GNMA mortgage backed securities. OMHHF retains the servicing responsibilities for the loans securitized and recognizes either a MSR asset or a MSR liability for that servicing contract. OMHHF receives monthly servicing fees equal to a percentage of the outstanding principal balance of the loans being serviced. OMHHF estimates the initial fair value of the servicing rights based on the present value of future net servicing income, adjusted for factors such as discount rate and prepayment. OMHHF uses the amortization method for subsequent measurement, subject to annual impairment. See Note 5, Fair value measurements, for more information. The fair value of the servicing rights on the loan portfolio was $nil and $41.8 million as of December 31, 2016 and 2015 , respectively (carrying value of $nil and $28.2 million as of December 31, 2016 and 2015 , respectively). The following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2016 and 2015 : (Expressed in thousands) For the Years Ended December 31, 2016 2015 Balance at beginning of year $ 28,168 $ 30,140 Originations (1) 2,575 6,569 Purchases 478 799 Disposals (1) (1,753 ) (8,613 ) Sale of MSRs (28,182 ) — Amortization expense (1,286 ) (727 ) Balance at end of year $ — $ 28,168 (1) Includes refinancings. The Company receives fees during the course of servicing the mortgage loans. The fees for the years ended December 31, 2016 , 2015 and 2014 were as follows: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Servicing fees $ 3,249 $ 5,848 $ 5,552 Ancillary fees 162 310 328 Total MSR fees $ 3,411 $ 6,158 $ 5,880

Office Facilities

Office Facilities	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Office Facilities	Furniture, equipment and leasehold improvements (Expressed in thousands) For the Years Ended December 31, 2016 2015 Furniture, fixtures and equipment $ 55,210 $ 75,704 Leasehold improvements 56,096 57,393 Total 111,306 133,097 Less accumulated depreciation (84,073 ) (104,812 ) Total $ 27,233 $ 28,285 Depreciation and amortization expense, included in occupancy and equipment costs in the consolidated statement of operations, was $6.8 million , $7.2 million and $7.7 million in the years ended December 31, 2016 , 2015 and 2014 , respectively.

Bank Call Loans

Bank Call Loans	12 Months Ended
	Dec. 31, 2016
Bank Call Loans [Abstract]
Bank Call Loans	Bank call loans Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.50% at December 31, 2016 ( 2.25% at December 31, 2015 ). Details of the bank call loans are as follows: (Expressed in thousands, except percentages) 2016 2015 Year-end balance $ 145,800 $ 100,200 Weighted interest rate (at end of year) 1.77 % 1.56 % Maximum balance (at any month-end) 151,900 189,000 Average amount outstanding (during the year) 106,455 116,267 Average interest rate (during the year) 1.52 % 1.28 % Interest expense for the year ended December 31, 2016 on bank call loans was $1.7 million ( $1.5 million in 2015 and $1.4 million in 2014 ).

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt (Expressed in thousands) Issued Maturity Date December 31, 2016 December 31, 2015 Senior Secured Notes 4/15/2018 $ 150,000 $ 150,000 Unamortized Debt Issuance Cost (648 ) (1,132 ) $ 149,352 $ 148,868 On April 12, 2011 , the Company completed the placement of $200.0 million in aggregate principal amount of 8.75% Senior Secured Notes due April 15, 2018 (the "Notes") at par. The interest on the Notes is payable semi-annually on April 15 th and October 15 th . On April 15, 2014, the Company retired early a total of $50.0 million ( 25% ) of the Notes. The indenture for the Notes contains covenants which place restrictions on the incurrence of indebtedness, the payment of dividends, sale of assets, mergers and acquisitions and the granting of liens. The Notes provide for events of default including nonpayment, misrepresentation, breach of covenants and bankruptcy. The Company's obligations under the Notes are guaranteed, subject to certain limitations. These guarantees may be shared, on a senior basis, under certain circumstances, with newly incurred debt outstanding in the future. As of December 31, 2016 , the Company was in compliance with all of its covenants. As discussed in Note 3, "Discontinued operations," during 2016, the Company sold substantially all of the assets of OMHHF and ceased its operations. Under the indenture for the Notes, OMHHF is a restricted subsidiary and the Company has pledged its equity interests in OMHHF as collateral for the Notes. Net proceeds received by the Company and restricted subsidiaries from asset sales must either be used within twelve months from the date of June 2, 2016 to make an offer to repurchase the Notes or to make an investment in Replacement Assets, as defined in the indenture or, if any such proceeds are not so applied, and the total thereof is at least $15.0 million , the Company must offer to purchase Notes at par with an aggregate principal amount equal to the amount of such proceeds. Interest expense for the year ended December 31, 2016 on the Notes was $13.1 million ( $13.1 million in 2015 and $14.3 million in 2014 ). Interest paid on the Notes for both the years ended December 31, 2016 and 2015 was $13.1 million .

Share Capital

Share Capital	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Share Capital	Share capital The Company's authorized share capital consists of (a) 50,000,000 shares of Preferred Stock, par value $0.001 per share; (b) 50,000,000 shares of Class A Stock, par value $0.001 per share; and (c) 99,665 shares of Class B voting common stock ("Class B Stock"), par value $0.001 per share. No Preferred Stock has been issued. 99,665 shares of Class B Stock have been issued and are outstanding. The Class A Stock and the Class B Stock are equal in all respects except that the Class A Stock is non-voting. The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated: 2016 2015 Class A Stock outstanding, beginning of year 13,238,486 13,530,688 Issued pursuant to shared-based compensation plans (Note 15) 283,471 131,524 Repurchased and canceled pursuant to the stock buy-back (260,862 ) (423,726 ) Class A Stock outstanding, end of year 13,261,095 13,238,486 Stock buy-back On September 15, 2015, the Company announced that its board of directors approved a share repurchase program that authorizes the Company to purchase up to 665,000 shares of the Company's Class A Stock, representing approximately 5% of its 13,348,369 then issued and outstanding shares of Class A Stock ("New Program"). This authorization replaces the share repurchase program covering up to 675,000 shares of the Company's Class A Stock, which was announced on October 7, 2011 ("Previous Program"), pursuant to which 322,177 shares of the Company's Class A Stock were repurchased and canceled prior to December 31, 2014. During the nine months ended September 30, 2015, the Company purchased and canceled an additional 328,844 shares of Class A Stock for a total consideration of $6.6 million ( $20.12 per share) under the Previous Program. The 23,979 remaining shares available under the Previous Program have been replaced by the shares available under the New Program. During the fourth quarter of 2015, the Company purchased and canceled an aggregate of 94,882 shares of Class A Stock for a total consideration of $1.6 million ($17.20 per share) under the New Program. During the year ended December 31, 2016 , the Company purchased and canceled an aggregate of 260,862 shares of Class A Stock for a total consideration of $3.9 million ( $15.09 per share) under the New Program. As of December 31, 2016 , 309,256 shares were available to be purchased under the New Program. Any such share purchases will be made by the Company from time to time in the open market at the prevailing open market price using cash on hand, in compliance with the applicable rules and regulations of the New York Stock Exchange and federal and state securities laws and the terms of the Company's senior secured debt. All shares purchased will be canceled. The share repurchase program is expected to continue indefinitely. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. The share repurchase program does not obligate the Company to repurchase any dollar amount or number of Class A non-voting common shares. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice. Dividends The Company paid cash dividends of $0.44 per share to holders of Class A and Class B Stock in 2016 , 2015 and 2014 .

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per share Basic earnings per share is computed by dividing net income attributable to Oppenheimer Holdings Inc. by the weighted average number of shares of Class A Stock and Class B Stock outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase the Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method. Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Year Ended December 31, 2016 2015 2014 Basic weighted average number of shares outstanding 13,368,768 13,640,610 13,604,258 Net dilutive effect of share-based awards, treasury method (1) — — 646,405 Diluted weighted average number of shares outstanding 13,368,768 13,640,610 14,250,663 Net income (loss) from continuing operations $ (9,630 ) $ (2,834 ) $ 5,056 Net income from discontinued operations 10,121 5,732 4,505 Net income 491 2,898 9,561 Net income attributable to noncontrolling interest, net of tax 1,652 936 735 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (1,161 ) $ 1,962 $ 8,826 Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.72 ) $ (0.21 ) $ 0.37 Discontinued operations (2) 0.63 0.35 0.28 Net income (loss) per share $ (0.09 ) $ 0.14 $ 0.65 Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.72 ) $ (0.21 ) $ 0.36 Discontinued operations (2) 0.63 0.35 0.26 Net income (loss) per share $ (0.09 ) $ 0.14 $ 0.62 (1) For the year ended December 31, 2016 , the diluted earnings per share computation does not include the anti-dilutive effect of 1,237,134 shares of Class A Stock granted under share-based compensation arrangements ( 1,269,585 and 43,008 shares for the years ended December 31, 2015 and 2014 , respectively). (2) Represents net income from discontinued operations less net income attributable to noncontrolling interest, net of tax divided by weighted average number of shares outstanding.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The income tax provision from continuing operations shown in the consolidated statements of operations is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit, as follows: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Amount Percentage Amount Percentage Amount Percentage U.S. federal statutory income tax rate $ (7,662 ) 35.0 % $ (851 ) 35.0 % $ 6,017 35.0 % U.S. state and local income taxes, net of U.S. federal income tax benefits (1,075 ) 4.9 % (69 ) 2.8 % 1,432 8.3 % Unrecognized tax benefit (603 ) 2.8 % 589 -24.3 % 6 — % Valuation allowance 1,208 -5.5 % — — % — — % Non-taxable income (1,267 ) 5.8 % (696 ) 28.7 % (593 ) -3.4 % Non-deductible legal and regulatory expenses — — % — — % 5,296 30.8 % Provision to return adjustments (4,167 ) 19.0 % 442 -18.2 % (3 ) — % Change in tax rates 264 -1.2 % 305 -12.5 % 53 0.3 % Foreign tax rate differentials 143 -0.7 % 145 -6.0 % (447 ) -2.6 % Other non-deductible expenses 897 -4.1 % 541 -22.2 % 373 2.2 % Total income tax provision $ (12,262 ) 56.0 % $ 406 -16.7 % $ 12,134 70.6 % Income taxes from continuing operations included in the consolidated statements of operations represent the following: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Current: U.S. federal tax (benefit) $ (15,433 ) $ (5,751 ) $ 9,294 State and local tax (4,631 ) (74 ) 817 Non-U.S. operations 46 181 (264 ) Total Current (20,018 ) (5,644 ) 9,847 Deferred: U.S. federal tax 5,856 4,198 (529 ) State and local tax 617 1,632 1,529 Non-U.S. operations 1,283 220 1,287 Total Deferred 7,756 6,050 2,287 Total $ (12,262 ) $ 406 $ 12,134 Income (loss) before income taxes from continuing operations with respect to Non-U.S. operations was $(965,000) , $732,000 and $4.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The effective income tax rate from continuing operations for the year ended December 31, 2016 was 56.0% (benefit) compared with 16.7% for the year ended December 31, 2015 . The effective income tax rate for the year ended December 31, 2016 was positively impacted by income tax provision to tax return true-ups and higher nontaxable benefits received with respect to Company-owned life insurance partially offset by the valuation allowance established on deferred tax assets related to net operating losses of a foreign subsidiary. The effective income tax rate for the year ended December 31, 2015 was negatively impacted by increases in provisions related to positions taken on state income tax returns as well as income tax provision to tax return true-ups that were recorded during the year. U.S. income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that is indefinitely reinvested outside the United States. This amount becomes taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such taxable temporary differences totaled $20.3 million as of December 31, 2016 . The unrecognized deferred tax liability associated with earnings of foreign subsidiaries, net of associated U.S. foreign tax credits, is $2.3 million for those subsidiaries with respect to which the Company would be subject to residual U.S. tax on cumulative earnings through 2016 were those earnings to be repatriated. Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates and laws that will be in effect when such differences are expected to reverse. Significant components of the Company's deferred tax assets and liabilities from continuing operations as of December 31, 2016 and 2015 were as follows: (Expressed in thousands) As of December 31, 2016 2015 Deferred tax assets: Deferred compensation $ 26,271 $ 27,423 Deferred rent and lease incentives 15,354 16,437 Receivable reserves 3,554 4,478 Accrued expenses 1,992 3,350 Auction rate securities reserves 1,194 2,666 Net operating losses and credits 4,917 4,164 Involuntary conversion 2,381 2,245 Depreciation 1,446 — Other 1,953 2,718 Total deferred tax assets 59,062 63,481 Valuation allowance 1,280 126 Deferred tax assets after valuation allowance 57,782 63,355 Deferred tax liabilities: Goodwill 57,117 53,364 Partnership investments 6,042 7,444 Company-owned life insurance 7,478 6,431 Change in accounting method — 1,313 Depreciation — 672 Other 282 248 Total deferred tax liabilities 70,919 69,472 Deferred tax liabilities, net $ (13,137 ) $ (6,117 ) The Company has deferred tax assets at December 31, 2016 of $1.1 million , $1.2 million and $397,000 arising from net operating losses incurred by Oppenheimer Israel (OPCO) Ltd., Oppenheimer Investments Asia Limited, and Oppenheimer Europe Ltd., respectively. The Company believes that realization of the deferred tax assets is more likely than not based on expectations of future taxable income in Israel and Europe. These net operating losses carry forward indefinitely and are not subject to expiration, provided that these subsidiaries and their underlying businesses continue operating normally (as is anticipated). During the year ended December 31, 2016 , the Company recorded a valuation allowance of $1.2 million against the deferred tax asset to the net operating losses incurred by Oppenheimer Investments Asia Limited. Goodwill arising from the acquisitions of Josephthal Group Inc. and the Oppenheimer Divisions is being amortized for tax purposes on a straight-line basis over 15 years. The difference between book and tax is recorded as a deferred tax liability. The Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction and in various states and foreign jurisdictions. The Company has closed tax years through 2010 in the U.S. federal jurisdiction. The Company is under examination in various states in which the Company has significant business operations. The Company has closed tax years through 2007 for New York State and has a settlement agreement with the state for the period 2008 to 2010 . The Company also has closed tax years through 2008 with New York City and is currently under exam for the 2009 to 2012 tax years. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2010. The Company is currently under examination for the 2013 federal tax return. The Company has unrecognized tax benefits of $1.1 million , $2.5 million and $1.6 million as of December 31, 2016 , 2015 and 2014 , respectively from continuing operations (as shown on the table below). Included in the balance of unrecognized tax benefits as of December 31, 2016 and 2015 are $710,000 and $1.8 million of tax benefits for either year that, if recognized, would affect the effective tax rate. During the year ended December 31, 2016 , the Company reversed $652,000 of unrecognized tax benefit when the related statute of limitation expired. The Company reversed $848,000 of unrecognized tax benefit when the Company entered into a non cash settlement agreement with New York State which resulted in a reduction of deferred tax assets. The Company does not believe any unrecognized tax benefit will significantly increase or decrease within twelve months. A reconciliation of the beginning and ending amount of unrecognized tax benefit follows: (Expressed in thousands) 2016 2015 2014 Balance at beginning of year $ 2,490 $ 1,583 $ 1,574 Additions for tax positions of prior years 98 907 — Additions for tax positions of current year — — 9 Lapse in statute of limitations (652 ) — — Settlements with taxing authorities (848 ) — — Balance at end of year $ 1,088 $ 2,490 $ 1,583 In its consolidated statements of operations, the Company records interest and penalties accruing on unrecognized tax benefits in income (loss) before income taxes as interest expense and other expense, respectively. For the year ended December 31, 2016, the Company reversed income tax interest payable of $104,000 accrued on unrecognized tax benefits that were reversed during the year. For the year ended December 31, 2015, the Company recorded tax-related interest expense of $23,000 , in its consolidated statement of operations. As of December 31, 2016 and 2015, the Company had an income tax-related interest payable of $1,000 and $106,000 , respectively, on its consolidated balance sheets.

Employee Compensation Plans

Employee Compensation Plans	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Compensation Plans	Employee compensation plans The Company maintains various employee compensation plans for the benefits of its employees. The two types of employee compensation are granted under share-based compensation and cash-based compensation plans. Share-based Compensation Equity Incentive Plan Under the Company's 2006 Equity Incentive Plan, adopted December 11, 2006 and amended December 2011, and its 1996 Equity Incentive Plan, as amended March 10, 2005 (together "EIP"), the Compensation Committee of the Board of Directors of the Company could grant options to purchase Class A Stock, Class A Stock awards and restricted Class A Stock awards to officers and key employees of the Company and its subsidiaries. Options were generally granted for a five -year term and generally vest at the rate of 25% of the amount granted on the second anniversary of the grant, 25% on the third anniversary of the grant, 25% on the fourth anniversary of the grant and 25% six months before expiration. The EIP has been amended, restated and replaced by the OIP, discussed below. Employee Share Plan On March 10, 2005, the Company approved the Oppenheimer & Co. Inc. Employee Share Plan ("ESP") for employees of the Company and its subsidiaries to attract, retain and provide incentives to key management employees. The Compensation Committee of the Board of Directors of the Company could grant Class A Stock awards and restricted Class A Stock awards pursuant to the ESP. ESP awards were generally awarded for a three or five year term which fully vest at the end of the term. The ESP has been amended, restated and replaced by the OIP, discussed below. Oppenheimer Holdings Inc. 2014 Incentive Plan On February 26, 2014, the Company adopted the Oppenheimer Holdings Inc. 2014 Incentive Plan (the "OIP"). The OIP amends, restates and replaces two separate plans previously in place, the EIP and ESP (the "Prior Plans"), as described above. The OIP permits the Company to grant options to purchase Class A Stock, Class A Stock awards and restricted Class A Stock to or for the benefit of employees and non-employee directors of the Company and its affiliates as part of their compensation. After February 26, 2014, n o additional awards could be made under the Prior Plans, although outstanding awards previously made under the Prior Plans continue to be governed by the terms of the applicable Prior Plan. Oppenheimer Holdings Inc. Stock Appreciation Right Plan Under the Oppenheimer Holdings Inc. Stock Appreciation Right Plan, the Company awards stock appreciation rights ("OARs") to certain employees as part of their compensation package based on a formula reflecting gross production and length of service. These awards are granted once per year in January with respect to the prior year's production. The OARs vest five years from grant date and settle in cash at vesting. Restricted stock - The Company has granted restricted stock awards pursuant to the EIP, ESP and OIP. The following table summarizes the status of the Company's non-vested restricted Class A Stock awards under the EIP, ESP and OIP for the year ended December 31, 2016 : Number of Class A Shares Subject to Restricted Stock Awards Weighted Average Fair Value Remaining Contractual Life Nonvested at beginning of year 1,257,558 $ 19.29 1.7 Years Granted 408,207 12.63 3.2 Years Vested (377,011 ) 19.38 — Forfeited (65,221 ) 17.99 — Nonvested at end of year 1,223,533 $ 17.11 2.1 Years As of December 31, 2016 , all outstanding restricted Class A Stock awards were non-vested. The aggregate intrinsic value of restricted Class A Stock awards outstanding as of December 31, 2016 was approximately $22.8 million . The aggregate intrinsic value of restricted Class A Stock awards that are expected to vest is $22.0 million as of December 31, 2016 . During the year ended December 31, 2016 , the Company included approximately $5.2 million ( $4.6 million in 2015 and $5.6 million in 2014 ) of compensation expense in its consolidated statements of operations relating to restricted Class A Stock awards. As of December 31, 2016 , there was approximately $8.3 million of total unrecognized compensation cost related to unvested restricted Class A Stock awards. The cost is expected to be recognized over a weighted average period of 2.1 years. As of December 31, 2016 , the number of shares of Class A Stock available under the share-based compensation plans, but not yet awarded, was 537,841 . On January 26, 2017, the Company awarded a total of 343,500 restricted shares of Class A Stock to current employees pursuant to the OIP. These restricted shares will cliff vest in three years and will be expensed over the three year vesting period. On February 23, 2017, the Company awarded 24,500 restricted shares of Class A Stock to its non-employee directors under the OIP. These shares of Class A Stock will vest as follows: 25% on August 22, 2017, 2018, 2019 and 2020. On February 23, 2017, the Company awarded a total of 64,100 restricted shares of Class A Stock to current employees pursuant to the OIP. These restricted shares will cliff vest in three years and will be expensed over the three year vesting period. Stock options - The Company has granted stock options pursuant to the EIP and OIP. There were 13,601 and 12,027 options outstanding as of December 31, 2016 and 2015 , respectively. In the year ended December 31, 2016 , the Company included approximately $19,900 ( $69,900 in 2015 and $133,600 in 2014 ) of compensation expense in its consolidated statement of operations relating to the expensing of stock options. On February 23, 2017, the Company awarded a total of 3,439 options to purchase Class A Stock to current employees pursuant to the OIP. These options will be expensed over 4.5 years (the vesting period). OARs - The Company has awarded OARs pursuant to the Oppenheimer Holdings Inc. Stock Appreciation Right Plan. The following table summarized the status of the Company's outstanding OARs awards as of December 31, 2016 : Grant Date Number of OARs Outstanding Strike Price Remaining Contractual Life Fair Value as of December 31, 2016 January 19, 2012 305,660 $ 18.94 18 Days $ 0.25 January 14, 2013 325,700 15.94 1 Year 4.17 January 14, 2014 414,070 23.48 2 Years 2.22 January 9, 2015 467,940 21.94 3 Years 3.08 January 6, 2016 461,240 15.89 4 Years 5.33 1,974,610 Total weighted average values $ 19.40 2.3 Years $ 3.17 As of December 31, 2016 , all outstanding OARs were unvested. As of December 31, 2016 , the aggregate intrinsic value of OARs outstanding and expected to vest was $2.1 million . In the year ended December 31, 2016 , the Company included approximately $1.0 million ( $1.8 million of net credit in 2015 and $380,100 in 2014 ) in compensation expense in its consolidated statement of operations relating to OARs awards. The liability related to the OARs was approximately $2.7 million as of December 31, 2016 . As of December 31, 2016 , there was approximately $3.2 million of total unrecognized compensation cost related to unvested OARs. The cost is expected to be recognized over a weighted average period of 2.3 years. On January 6, 2017, 443,630 OARs were awarded to Oppenheimer employees related to fiscal 2016 performance. These OARs will be expensed over 5 years (the vesting period). Cash-based Compensation Plan Defined Contribution Plan The Company, through its subsidiaries, maintains a defined contribution plan covering substantially all full-time U.S. employees. The Oppenheimer & Co. Inc. 401(k) Plan provides that Oppenheimer may make discretionary contributions. Eligible Oppenheimer employees could make voluntary contributions which could not exceed $18,000 , $18,000 and $17,500 per annum in 2016 , 2015 and 2014 , respectively. The Company made contributions to the 401(k) Plan of $1.3 million , $1.6 million and $1.2 million in 2016 , 2015 and 2014 , respectively. Deferred Compensation Plans The Company maintains an Executive Deferred Compensation Plan ("EDCP") and a Deferred Incentive Plan ("DIP") in order to offer certain qualified high-performing financial advisers a bonus based upon a formula reflecting years of service, production, net commissions and a valuation of their clients' assets. The bonus amounts resulted in deferrals in fiscal 2016 of approximately $7.7 million ( $8.3 million in 2015 and $8.6 million in 2014 ). These deferrals normally vest after five years. The liability is being recognized on a straight-line basis over the vesting period. The EDCP also includes voluntary deferrals by senior executives that are not subject to vesting. The Company maintains a Company-owned life insurance policy, which is designed to offset approximately 60% of the EDCP liability. The EDCP liability is being tracked against the value of a benchmark investment portfolio held for this purpose. As of December 31, 2016 , the Company's liability with respect to the EDCP and DIP totaled $49.7 million and is included in accrued compensation on the consolidated balance sheet as of December 31, 2016 . In addition, the Company is maintaining a deferred compensation plan on behalf of certain employees who were formerly employed by CIBC World Markets. The liability is being tracked against the value of an investment portfolio held by the Company for this purpose and, therefore, the liability fluctuates with the fair value of the underlying portfolio. As of December 31, 2016 , the Company's liability with respect to this plan totaled $15.0 million . The total amount expensed in 2016 for the Company's deferred compensation plans was $11.8 million ( $8.6 million in 2015 and $11.4 million in 2014 ).

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and contingencies Commitments The Company and its subsidiaries have operating leases for office space, equipment and furniture and fixtures expiring at various dates through 2028 . Future minimum rental commitments under such office and equipment leases as of December 31, 2016 are as follows: (Expressed in thousands) 2017 $ 40,751 2018 39,204 2019 34,149 2020 26,150 2021 22,341 2022 and thereafter 100,402 $ 262,997 The above table includes operating leases which have been signed by the Company's subsidiary, Viner Finance Inc., in which the Company is responsible for rent charges associated with its occupancy. Certain of the leases contain provisions for rent increases based on changes in costs incurred by the lessor. The Company's rent expense for the year ended December 31, 2016 was $44.4 million ( $45.9 million in 2015 and $45.6 million in 2014 ). As of December 31, 2016 , the Company had capital commitments of approximately $1.3 million with respect to unfunded obligations in private equity funds sponsored by the Company. As of December 31, 2016 , the Company had no collateralized or uncollateralized letters of credit outstanding. Contingencies Many aspects of the Company's business involve substantial risks of liability. In the normal course of business, the Company has been named as defendant or co-defendant in various legal actions, including arbitrations, class actions, and other litigation, creating substantial exposure. Certain of the actual or threatened legal matters include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. These proceedings arise primarily from securities brokerage, asset management and investment banking activities. The Company is also involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental and self-regulatory agencies regarding the Company's business which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. The investigations include, among other things, inquiries from the Securities and Exchange Commission (the "SEC"), the Financial Industry Regulatory Authority ("FINRA") and various state regulators. The Company accrues for estimated loss contingencies related to legal and regulatory matters when available information indicates that it is probable a liability had been incurred and the Company can reasonably estimate the amount of that loss. In many proceedings, however, it is inherently difficult to determine whether any loss is probable or even possible or to estimate the amount of any loss. In addition, even where loss is possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is often not possible to reasonably estimate the size of the possible loss or range of loss or possible additional losses or range of additional losses. For certain legal and regulatory proceedings, the Company cannot reasonably estimate such losses, particularly for proceedings that are in their early stages of development or where plaintiffs seek substantial, indeterminate or special damages. Numerous issues may need to be reviewed, analyzed or resolved, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the proceedings in question, before a loss or range of loss or additional loss can be reasonably estimated for any proceeding. Even after lengthy review and analysis, the Company, in many legal and regulatory proceedings, may not be able to reasonably estimate possible losses or range of loss. For certain other legal and regulatory proceedings, the Company can estimate possible losses, or range of loss in excess of amounts accrued, but does not believe, based on current knowledge and after consultation with counsel, that such losses individually, or in the aggregate, will have a material adverse effect on the Company's consolidated financial statements as a whole. For legal and regulatory proceedings where there is at least a reasonable possibility that a loss or an additional loss may be incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of $0 to $47.0 million . This estimated aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, where an estimate for such losses can be made. For certain cases, the Company does not believe that an estimate can currently be made. The foregoing estimate is based on various factors, including the varying stages of the proceedings (including the fact that many are currently in preliminary stages), the numerous yet-unresolved issues in many of the proceedings and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Company's estimate will change from time to time, and actual losses may be more than the current estimate. In February 2010, Oppenheimer finalized settlements with the Regulators concluding investigations and administrative proceedings by the Regulators concerning Oppenheimer's marketing and sale of ARS. Pursuant to the settlements with the Regulators, Oppenheimer agreed to extend offers to repurchase ARS from certain of its clients subject to certain terms and conditions more fully described below. As of December 31, 2016 , the Company had $5.0 million of outstanding ARS purchase commitments related to the settlements with the Regulators. In addition to the settlements with the Regulators, Oppenheimer has also reached settlements of and received adverse awards in legal proceedings with various clients where the Company is obligated to purchase ARS. Pursuant to completed Purchase Offers (as defined) under the settlements with the Regulators and client related legal settlements and awards to purchase ARS, as of December 31, 2016 , the Company purchased and holds (net of redemptions) approximately $88.1 million in ARS from its clients. In addition, the Company is committed to purchase another $26.0 million in ARS from clients through 2020 under legal settlements and awards. The Company's purchases of ARS from its clients holding ARS eligible for repurchase will, subject to the terms and conditions of the settlements with the Regulators, continue on a periodic basis. Pursuant to these terms and conditions, the Company is required to conduct a financial review every six months, until the Company has extended Purchase Offers to all Eligible Investors (as defined), to determine whether it has funds available, after giving effect to the financial and regulatory capital constraints applicable to the Company, to extend additional Purchase Offers. The financial review is based on the Company's operating results, regulatory net capital, liquidity, and other ARS purchase commitments outstanding under legal settlements and awards (described below). There are no predetermined quantitative thresholds or formulas used for determining the final agreed upon amount for the Purchase Offers. Upon completion of the financial review, the Company first meets with its primary regulator, FINRA, and then with representatives of the NYAG and other regulators to present the results of the review and to finalize the amount of the next Purchase Offer. Various offer scenarios are discussed in terms of which Eligible Investors should receive a Purchase Offer. The primary criteria to date in terms of determining which Eligible Investors should receive a Purchase Offer has been the amount of household account equity each Eligible Investor had with the Company in February 2008. Once various Purchase Offer scenarios have been discussed, the regulators, not the Company, make the final determination of which Purchase Offer scenario to implement. The terms of settlements provide that the amount of ARS to be purchased during any period shall not risk placing the Company in violation of regulatory requirements. Eligible Investors for future buybacks continued to hold approximately $33.4 million of ARS principal value as of December 31, 2016 . It is reasonably possible that some ARS Purchase Offers will need to be extended to Eligible Investors holding ARS prior to redemptions (or tender offers) by issuers of the full amount that remains outstanding. The potential additional losses that may result from entering into ARS purchase commitments with Eligible Investors for future buybacks represents the estimated difference between the principal value and the fair value. It is possible that the Company could sustain a loss of all or substantially all of the principal value of ARS still held by Eligible Investors but such an outcome is highly unlikely. The amount of potential additional losses resulting from entering into these commitments cannot be reasonably estimated due to the uncertainties surrounding the amounts and timing of future buybacks that result from the six-month financial review and the amounts, scope, and timing of future issuer redemptions and tender offers of ARS held by Eligible Investors. The range of potential additional losses related to valuation adjustments is between $0 and the amount of the estimated differential between the principal value and the fair value of ARS held by Eligible Investors for future buybacks that were not yet purchased or committed to be purchased by the Company at any point in time. The range of potential additional losses described here is not included in the estimated range of aggregate loss in excess of amounts accrued for legal and regulatory proceedings described above. Outside of the settlements with the Regulators, the Company has also reached various legal settlements with clients and received unfavorable legal awards requiring it to purchase ARS. The terms and conditions including the ARS amounts committed to be purchased under legal settlements and awards are based on the specific facts and circumstances of each legal proceeding. In most instances, the purchase commitments are in increments and extend over a period of time. As of December 31, 2016 , there were no ARS purchase commitments related to legal settlements extending past 2020. The Company has sought, with limited success, financing from a number of sources to try to find a means for all its clients to find liquidity from their ARS holdings and will continue to do so. There can be no assurance that the Company will be successful in finding a liquidity solution for all its clients' ARS. On January 27, 2015, the SEC approved an Offer of Settlement from Oppenheimer and issued an Order Instituting Administrative and Cease and Desist Proceedings (the "Order"). Pursuant to the Order, Oppenheimer was ordered to (i) cease and desist from committing or causing any violations of the relevant provisions of the federal securities laws; (ii) be censured; (iii) pay to the SEC $10.0 million comprised of $4.2 million in disgorgement, $753,500 in prejudgment interest and $5.1 million in civil penalties; and (iv) retain an independent consultant to review Oppenheimer's policies and procedures relating to anti-money laundering and Section 5 of the Securities Act of 1933. Oppenheimer made a payment of $5.0 million to the SEC on February 17, 2015 and agreed to make a second payment of $5.0 million to the SEC before January 27, 2017 which payment was made to the SEC on January 26, 2017. On the same date the Order was issued, a division of the United States Department of the Treasury ("FinCEN") issued a Civil Monetary Assessment (the "Assessment") against Oppenheimer relating to potential violations of the Bank Secrecy Act ("BSA") and the regulations promulgated thereunder related primarily to, in the Company's view, the SEC matter discussed immediately above. Pursuant to the terms of the Assessment, Oppenheimer admitted that it violated the BSA and consented to the payment of a civil money penalty, which, as a result of the payments to the SEC described above, obligates Oppenheimer to make an aggregate payment of $10.0 million to FinCEN. On February 9, 2015, Oppenheimer made a payment of $5.0 million to FinCEN and has agreed to make a second payment of $5.0 million before January 27, 2017 which payment was made to FinCEN on January 26, 2017. Since early 2014, Oppenheimer has been responding to information requests from FINRA regarding the supervision of one of its former financial advisers who was indicted by the United States Attorney's Office for the District of New Jersey in March 2014 on allegations of insider trading. In August 2014, Oppenheimer received information requests from the SEC regarding supervision of the same financial adviser. A number of Oppenheimer employees have provided on-the-record testimony in connection with the SEC inquiry. Oppenheimer is continuing to cooperate with both the FINRA and SEC inquiries. In September 2016, Oppenheimer received a “Wells Notice” from FINRA regarding potential violations of (i) FINRA Rule 4530 for failing to make timely filings under certain sub-paragraphs of that Rule, (ii) FINRA Rules 1122 and 2010 for failure to timely file two U/4 amendments timely, (iii) FINRA Rules 3010 and 3110 for failing to maintain a supervisory system and written supervisory procedures reasonably designed to prevent the foregoing and (iv) FINRA Rule 2010 and 2110 for associated violations. In November 2016, Oppenheimer entered into a settlement with FINRA regarding each of the issues in the preceding paragraph as well as a FINRA inquiry into the purchase of Class A, B and C mutual fund shares by not-for-profit organizations and certain qualified retirement plans pursuant to which Oppenheimer, to settle all four issues, agreed to pay a fine of $1.6 million and to pay restitution to eligible clients in an amount of approximately $1.8 million .

Regulatory Requirements

Regulatory Requirements	12 Months Ended
	Dec. 31, 2016
Regulated Operations [Abstract]
Regulatory Requirements	Regulatory requirements The Company's U.S. broker dealer subsidiaries, Oppenheimer and Freedom, are subject to the uniform net capital requirements of the SEC under Rule 15c3-1 (the "Rule") promulgated under the Securities Exchange Act of 1934. Oppenheimer computes its net capital requirements under the alternative method provided for in the Rule which requires that Oppenheimer maintain net capital equal to two percent of aggregate customer-related debit items, as defined in SEC Rule 15c3-3. As of December 31, 2016 , the net capital of Oppenheimer as calculated under the Rule was $142.5 million or 13.98% of Oppenheimer's aggregate debit items. This was $122.1 million in excess of the minimum required net capital at that date. Freedom computes its net capital requirement under the basic method provided for in the Rule, which requires that Freedom maintain net capital equal to the greater of $100,000 or 6-2/3% of aggregate indebtedness, as defined. As of December 31, 2016 , Freedom had net capital of $5.8 million , which was $5.7 million in excess of the $100,000 required to be maintained at that date. New Basel III requirements being implemented in the European Union have changed how capital adequacy is reported under the Capital Requirements Directive (CRD IV), effective January 1, 2014, for Oppenheimer Europe Ltd. As of December 31, 2016 , the capital required and held under CRD IV was as follows: • Common Equity Tier 1 ratio 11.97% (required 4.5% ); • Tier 1 Capital ratio 11.97% (required 6.0% ); and • Total Capital ratio 13.40% (required 8.0% ). As of December 31, 2016 , the regulatory capital of Oppenheimer Investments Asia Limited was $2.4 million , which was $2.0 million in excess of the $387,000 required to be maintained on that date. Oppenheimer Investments Asia Limited computes its regulatory capital pursuant to the requirements of the Securities and Futures Commission in Hong Kong.

Goodwill and intangibles

Goodwill and intangibles	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangibles	Goodwill and intangibles Goodwill The Company's goodwill of $137.9 million resides in its PCD reporting unit. Due to a decrease in the Company's stock price, persistently low short-term interest rates, as well as the continued declining trend in transaction-based retail commissions and financial advisers headcount in the PCD, the Company performed an interim goodwill impairment analysis as of August 31, 2016, which did not result in any impairment charges. The PCD reporting unit had an estimated fair value that was in excess of its carrying value. The Company performed its annual test for goodwill impairment as of December 31, 2016 and 2015 , which did not result in any impairment charges. At each annual goodwill impairment testing date, the PCD reporting unit had a fair value that was substantially in excess of its carrying value. Intangible Assets Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million , which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. Trademarks and trade names recorded as of December 31, 2016 and 2015 have been tested for impairment and it has been determined that no impairment has occurred. At each annual intangible assets impairment testing date, the trademarks and trade names had a fair value that was substantially in excess of its carrying value.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
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 AUM, net interest earnings on client margin loans and cash balances, fees from money market funds, 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 professionally manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; 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; and Corporate/Other - 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 Commercial Mortgage Banking segment was discontinued during the second quarter of 2016. See Note 3 for further details. The table below presents information about the reported revenue and income (loss) before income taxes from continuing operations of the Company for the years ended December 31, 2016 , 2015 and 2014 . 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 Year Ended December 31, 2016 2015 2014 Revenue Private client (1) $ 504,192 $ 521,526 $ 582,364 Asset management (1) 92,852 97,121 99,964 Capital markets 254,933 279,589 298,597 Corporate/Other 5,802 (435 ) 210 Total $ 857,779 $ 897,801 $ 981,135 Income (loss) before income taxes Private client (1) $ 66,072 $ 59,016 $ 60,116 Asset management (1) 31,412 33,133 33,707 Capital markets (17,713 ) 5,167 17,819 Corporate/Other (101,663 ) (99,744 ) (94,452 ) Total $ (21,892 ) $ (2,428 ) $ 17,190 (1) Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments. Revenue, classified by the major geographic areas in which it was earned for the years ended December 31, 2016 , 2015 and 2014 was as follows: (Expressed in thousands) Year Ended December 31, 2016 2015 2014 Americas $ 815,231 $ 853,221 $ 932,032 Europe/Middle East 39,048 40,603 43,087 Asia 3,500 3,977 6,016 Total $ 857,779 $ 897,801 $ 981,135

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent events On January 27, 2017 , the Company announced a quarterly dividend in the amount of $0.11 per share, paid on February 24, 2017 to holders of Class A Stock and Class B Stock of record on February 10, 2017 .

Quarterly Information

Quarterly Information	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Information (unaudited)	Quarterly information (unaudited) (Expressed in thousands, except per share amounts) Fiscal Quarters For the Year Ended December 31, 2016 Fourth Third Second First Year Revenue $ 218,945 $ 211,804 $ 212,074 $ 214,956 $ 857,779 Expenses 226,441 213,614 217,320 222,296 879,671 Loss before income taxes from continuing operations (7,496 ) (1,810 ) (5,246 ) (7,340 ) (21,892 ) Income taxes (5,072 ) (751 ) (2,627 ) (3,812 ) (12,262 ) Net loss from continuing operations (2,424 ) (1,059 ) (2,619 ) (3,528 ) (9,630 ) Net income from discontinued operations 759 413 9,330 (381 ) 10,121 Net income (loss) (1,665 ) (646 ) 6,711 (3,909 ) 491 Less net income attributable to noncontrolling interest, net of tax 125 66 1,523 (62 ) 1,652 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (1,790 ) $ (712 ) $ 5,188 $ (3,847 ) $ (1,161 ) Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.20 ) $ (0.27 ) $ (0.72 ) Discontinued operations 0.05 0.03 0.59 (0.02 ) 0.63 Net income (loss) per share $ (0.23 ) $ (0.05 ) $ 0.39 $ (0.29 ) $ (0.09 ) Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.20 ) $ (0.27 ) $ (0.72 ) Discontinued operations 0.05 0.03 0.59 (0.02 ) 0.63 Net income (loss) per share $ (0.23 ) $ (0.05 ) $ 0.39 $ (0.29 ) $ (0.09 ) Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.44 Market price of Class A Stock (1) High 19.65 16.49 16.66 16.98 19.65 Low 13.65 13.74 13.63 13.58 13.58 (1) The price quotations above were obtained from the New York Stock Exchange website. (Expressed in thousands, except per share amounts) Fiscal Quarters For the Year Ended December 31, 2015 Fourth Third Second First Year Revenue $ 225,189 $ 207,478 $ 227,959 $ 237,175 $ 897,801 Expenses 229,757 210,051 229,060 231,361 900,229 Income (loss) before income taxes from continuing operations (4,568 ) (2,573 ) (1,101 ) 5,814 (2,428 ) Income taxes (712 ) (1,437 ) 400 2,155 406 Net income (loss) from continuing operations (3,856 ) (1,136 ) (1,501 ) 3,659 (2,834 ) Net income from discontinued operations 765 359 2,146 2,462 5,732 Net income (loss) (3,091 ) (777 ) 645 6,121 2,898 Less net income attributable to noncontrolling interest, net of tax 53 131 350 402 936 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (3,144 ) $ (908 ) $ 295 $ 5,719 $ 1,962 Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.11 ) $ 0.27 $ (0.21 ) Discontinued operations 0.05 0.01 0.13 0.15 0.35 Net income (loss) per share $ (0.23 ) $ (0.07 ) $ 0.02 $ 0.42 $ 0.14 Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.11 ) $ 0.26 $ (0.21 ) Discontinued operations 0.05 0.01 0.13 0.14 0.35 Net income (loss) per share $ (0.23 ) $ (0.07 ) $ 0.02 $ 0.40 $ 0.14 Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.44 Market price of Class A Stock (1) High 20.98 26.80 27.99 24.41 27.99 Low 15.60 17.40 22.30 19.04 15.60 (1) The price quotations above were obtained from the New York Stock Exchange website.

Supplemental Guarantor Consolid

Supplemental Guarantor Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Consolidated Financial Statements	Condensed consolidating financial information The Company's Notes are jointly and severally and fully and unconditionally guaranteed on a senior basis by E.A. Viner International Co. and Viner Finance Inc. (together, the "Guarantors"), unless released as described below. Each of the Guarantors is 100% owned by the Company. The indenture for the Notes contains covenants with restrictions which are discussed in Note 11. The following condensed consolidating financial information presents the financial position, results of operations and cash flows of the Company (referred to as "Parent" for purposes of this Note only), the Guarantor subsidiaries, the Non-Guarantor subsidiaries and elimination entries necessary to consolidate the Company. Each Guarantor will be automatically and unconditionally released and discharged upon: the sale, exchange or transfer of the capital stock of a Guarantor and the Guarantor ceasing to be a direct or indirect subsidiary of the Company if such sale does not constitute an asset sale under the indenture for the Notes or does not constitute an asset sale effected in compliance with the asset sale and merger covenants of the indenture for the Notes; a Guarantor being dissolved or liquidated; a Guarantor being designated unrestricted in compliance with the applicable provisions of the Notes; or the exercise by the Company of its legal defeasance option or covenant defeasance option or the discharge of the Company's obligations under the indenture for the Notes in accordance with the terms of such indenture. OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 229 $ 10,284 $ 54,400 $ — $ 64,913 Deposits with clearing organizations — — 38,185 — 38,185 Receivable from brokers, dealers and clearing organizations — — 214,934 — 214,934 Receivable from customers, net of allowance for credit losses of $794 — — 847,386 — 847,386 Income tax receivable 41,996 28,289 — (64,469 ) 5,816 Securities purchased under agreements to resell — — 24,006 — 24,006 Securities owned, including amounts pledged of $438,385, at fair value — 23,227 683,881 — 707,108 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively — — 30,099 — 30,099 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $84,073 — 21,963 5,270 — 27,233 Assets held for sale — — 5,188 — 5,188 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — — 31,700 — 31,700 Goodwill — — 137,889 — 137,889 Other assets 71 2,598 99,804 — 102,473 Deferred tax assets 394 309 37,961 (38,664 ) — Investment in subsidiaries 584,767 483,623 — (1,068,390 ) — Intercompany receivables 37,906 37,914 — (75,820 ) — Total assets $ 665,363 $ 720,765 $ 2,210,703 $ (1,359,901 ) $ 2,236,930 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 39,228 $ — $ 39,228 Bank call loans — — 145,800 — 145,800 Payable to brokers, dealers and clearing organizations — — 221,389 — 221,389 Payable to customers — — 449,946 — 449,946 Securities sold under agreements to repurchase — — 378,084 — 378,084 Securities sold but not yet purchased, at fair value — — 85,050 — 85,050 Liabilities held for sale — — 1,217 — 1,217 Accrued compensation — — 145,053 — 145,053 Accounts payable and other liabilities 2,868 34,920 57,552 — 95,340 Income tax payable 2,440 22,189 39,840 (64,469 ) — Senior secured notes, net of debt issuance cost of $648 149,352 — — — 149,352 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — 7 51,794 (38,664 ) 13,137 Intercompany payables — 62,205 13,615 (75,820 ) — Total liabilities 154,660 119,321 1,741,126 (291,511 ) 1,723,596 Stockholders' equity Stockholders' equity attributable to Oppenheimer Holdings Inc. 510,703 601,444 466,946 (1,068,390 ) 510,703 Noncontrolling interest — — 2,631 — 2,631 Total stockholders' equity 510,703 601,444 469,577 (1,068,390 ) 513,334 Total liabilities and stockholders' equity $ 665,363 $ 720,765 $ 2,210,703 $ (1,359,901 ) $ 2,236,930 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 907 $ 2,586 $ 59,871 $ — $ 63,364 Deposits with clearing organizations — — 49,490 — 49,490 Receivable from brokers, dealers and clearing organizations — — 365,791 — 365,791 Receivable from customers, net of allowance for credit losses of $2,545 — — 840,355 — 840,355 Income tax receivable 33,801 27,536 — (49,106 ) 12,231 Securities purchased under agreements to resell — — 206,499 — 206,499 Securities owned, including amounts pledged of $546,334, at fair value — 1,183 733,648 — 734,831 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $54,919 and $8,444, respectively — — 32,849 — 32,849 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $104,812 — 20,793 7,492 — 28,285 Assets held for sale — — 99,881 — 99,881 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — — 31,700 — 31,700 Goodwill — — 137,889 — 137,889 Other assets 69 3,224 91,546 — 94,839 Deferred tax assets 317 330 40,456 (41,103 ) — Investment in subsidiaries 577,320 532,651 — (1,109,971 ) — Intercompany receivables 60,187 13,185 — (73,372 ) — Total assets $ 672,601 $ 714,046 $ 2,697,467 $ (1,386,110 ) $ 2,698,004 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 48,011 $ — $ 48,011 Bank call loans — — 100,200 — 100,200 Payable to brokers, dealers and clearing organizations — — 164,546 — 164,546 Payable to customers — — 594,833 — 594,833 Securities sold under agreements to repurchase — — 651,445 — 651,445 Securities sold but not yet purchased, at fair value — — 126,493 — 126,493 Liabilities held for sale — — 74,680 — 74,680 Accrued compensation — — 149,092 — 149,092 Accounts payable and other liabilities 3,235 35,812 69,590 — 108,637 Income tax payable 2,440 22,189 24,477 (49,106 ) — Senior secured notes, net of debt issuance costs of $1,132 148,868 — — — 148,868 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 47,220 (41,103 ) 6,117 Intercompany payables — 62,204 11,168 (73,372 ) — Total liabilities 154,543 120,205 2,174,313 (276,139 ) 2,172,922 Stockholders' equity Stockholders' equity attributable to Oppenheimer Holdings Inc. 518,058 593,841 516,130 (1,109,971 ) 518,058 Noncontrolling interest — — 7,024 — 7,024 Total stockholders' equity 518,058 593,841 523,154 (1,109,971 ) 525,082 Total liabilities and stockholders' equity $ 672,601 $ 714,046 $ 2,697,467 $ (1,386,110 ) $ 2,698,004 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated REVENUES Commissions $ — $ — $ 377,317 $ — $ 377,317 Advisory fees — 1,571 271,763 (4,215 ) 269,119 Investment banking — — 81,011 — 81,011 Interest — 10,242 47,804 (10,397 ) 47,649 Principal transactions, net — 16 20,465 — 20,481 Other — 326 62,201 (325 ) 62,202 Total revenue — 12,155 860,561 (14,937 ) 857,779 EXPENSES Compensation and related expenses 1,241 — 583,469 — 584,710 Communications and technology 124 — 70,266 — 70,390 Occupancy and equipment costs — — 61,116 (325 ) 60,791 Clearing and exchange fees — — 25,126 — 25,126 Interest 13,125 — 16,709 (10,397 ) 19,437 Other 1,887 1,284 120,261 (4,215 ) 119,217 Total expenses 16,377 1,284 876,947 (14,937 ) 879,671 Income (loss) before income taxes (16,377 ) 10,871 (16,386 ) — (21,892 ) Income taxes (8,296 ) 3,325 (7,291 ) — (12,262 ) Net income (loss) from continuing operations (8,081 ) 7,546 (9,095 ) — (9,630 ) Discontinued operations Income from discontinued operations — — 17,339 — 17,339 Income taxes — — 7,218 — 7,218 Net income from discontinued operations — — 10,121 — 10,121 Equity in earnings of subsidiaries 6,920 (626 ) — (6,294 ) — Net income (loss) (1,161 ) 6,920 1,026 (6,294 ) 491 Less net income attributable to noncontrolling interest, net of tax — — 1,652 — 1,652 Net income (loss) attributable to Oppenheimer Holdings Inc. (1,161 ) 6,920 (626 ) (6,294 ) (1,161 ) Other comprehensive income — — 220 — 220 Total comprehensive income (loss) $ (1,161 ) $ 6,920 $ (406 ) $ (6,294 ) $ (941 ) OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2015 (Expressed in thousands) Parent Guarantor Non-guarantor Eliminations Consolidated REVENUES Commissions $ — $ — $ 417,559 $ — $ 417,559 Advisory fees — 1,296 282,633 (3,682 ) 280,247 Investment banking — — 102,540 — 102,540 Interest — 10,237 49,056 (10,261 ) 49,032 Principal transactions, net — — 15,244 (64 ) 15,180 Other — 370 33,173 (300 ) 33,243 Total revenue — 11,903 900,205 (14,307 ) 897,801 EXPENSES Compensation and related expenses 1,185 — 609,635 — 610,820 Communications and technology 142 — 66,407 — 66,549 Occupancy and equipment costs — — 63,142 (300 ) 62,842 Clearing and exchange fees — — 26,022 — 26,022 Interest 13,125 — 13,465 (10,261 ) 16,329 Other 1,663 892 118,858 (3,746 ) 117,667 Total expenses 16,115 892 897,529 (14,307 ) 900,229 Income (loss) before income taxes (16,115 ) 11,011 2,676 — (2,428 ) Income taxes (6,030 ) 5,553 883 — 406 Net income (loss) from continuing operations (10,085 ) 5,458 1,793 — (2,834 ) Discontinued operations Income from discontinued operations — — 9,139 — 9,139 Income taxes — — 3,407 — 3,407 Net income from discontinued operations — — 5,732 — 5,732 Equity in earnings of subsidiaries 12,047 6,589 — (18,636 ) — Net income 1,962 12,047 7,525 (18,636 ) 2,898 Less net income attributable to noncontrolling interest, net of tax — — 936 — 936 Net income attributable to Oppenheimer Holdings Inc. 1,962 12,047 6,589 (18,636 ) 1,962 Other comprehensive income — — 17 — 17 Total comprehensive income $ 1,962 $ 12,047 $ 6,606 $ (18,636 ) $ 1,979 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2014 (Expressed in thousands) Parent Guarantor Non-guarantor Eliminations Consolidated REVENUES Commissions $ — $ — $ 469,829 $ — $ 469,829 Advisory fees — 1,139 283,785 (3,244 ) 281,680 Investment banking — — 125,598 — 125,598 Interest — 10,482 47,454 (10,431 ) 47,505 Principal transactions, net — 164 27,351 — 27,515 Other — 477 28,956 (425 ) 29,008 Total revenue — 12,262 982,973 (14,100 ) 981,135 EXPENSES Compensation and related expenses 1,047 — 653,349 — 654,396 Communications and technology 145 — 66,605 — 66,750 Occupancy and equipment costs — — 63,096 (425 ) 62,671 Clearing and exchange fees — — 24,709 — 24,709 Interest 14,401 — 12,986 (10,431 ) 16,956 Other 4,626 733 136,348 (3,244 ) 138,463 Total expenses 20,219 733 957,093 (14,100 ) 963,945 Income (loss) before income taxes (20,219 ) 11,529 25,880 — 17,190 Income taxes (7,917 ) 3,971 16,080 — 12,134 Net income (loss) from continuing operations (12,302 ) 7,558 9,800 — 5,056 Discontinued operations Income from discontinued operations — — 8,546 — 8,546 Income taxes — — 4,041 — 4,041 Net income from discontinued operations — — 4,505 — 4,505 Equity in earnings of subsidiaries 21,128 13,570 — (34,698 ) — Net income 8,826 21,128 14,305 (34,698 ) 9,561 Less net income attributable to noncontrolling interest, net of tax — — 735 — 735 Net income attributable to Oppenheimer Holdings Inc. 8,826 21,128 13,570 (34,698 ) 8,826 Other comprehensive loss — — (2,627 ) — (2,627 ) Total comprehensive income $ 8,826 $ 21,128 $ 10,943 $ (34,698 ) $ 6,199 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ 9,884 $ 7,698 $ (85,048 ) $ — $ (67,466 ) Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (5,731 ) — (5,731 ) Proceeds from sale of assets — — 45,448 — 45,448 Cash provided by investing activities — — 39,717 — 39,717 Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (5,887 ) — — — (5,887 ) Cash dividends paid to noncontrolling interest — — (5,740 ) — (5,740 ) Repurchase of Class A non-voting common stock for cancellation (3,935 ) — — — (3,935 ) Tax deficiency from share-based awards (740 ) — — — (740 ) Increase in bank call loans, net — — 45,600 — 45,600 Cash provided by (used in) in financing activities (10,562 ) — 39,860 — 29,298 Net increase (decrease) in cash and cash equivalents (678 ) 7,698 (5,471 ) — 1,549 Cash and cash equivalents, beginning of the year 907 2,586 59,871 — 63,364 Cash and cash equivalents, end of the year $ 229 $ 10,284 $ 54,400 $ — $ 64,913 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 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 $ 15,003 $ 1,029 $ (36,851 ) $ — $ (20,819 ) Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (5,889 ) — (5,889 ) Cash used in investing activities — — (5,889 ) — (5,889 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (6,008 ) — — — (6,008 ) Repurchase of Class A non-voting common stock for cancellation (8,250 ) — — — (8,250 ) Tax deficiency from share-based awards (277 ) — — — (277 ) Increase in bank call loans, net — — 40,800 — 40,800 Cash provided by (used in) financing activities (14,535 ) — 40,800 — 26,265 Net increase (decrease) in cash and cash equivalents 468 1,029 (1,940 ) — (443 ) Cash and cash equivalents, beginning of the year 439 1,557 61,811 — 63,807 Cash and cash equivalents, end of the year $ 907 $ 2,586 $ 59,871 $ — $ 63,364 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 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 $ 49,595 $ (29,344 ) $ 58,064 $ — $ 78,315 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (4,398 ) — (4,398 ) Cash used in investing activities — — (4,398 ) — (4,398 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (5,983 ) — — — (5,983 ) Issuance of Class A non-voting common stock 185 — — — 185 Tax benefit from share-based awards 1,194 — — — 1,194 Redemption of senior secured notes (45,000 ) — — — (45,000 ) Decrease in bank call loans, net — — (58,800 ) — (58,800 ) Cash used in financing activities (49,604 ) — (58,800 ) — (108,404 ) Net decrease in cash and cash equivalents (9 ) (29,344 ) (5,134 ) — (34,487 ) Cash and cash equivalents, beginning of the year 448 30,901 66,945 — 98,294 Cash and cash equivalents, end of the year $ 439 $ 1,557 $ 61,811 $ — $ 63,807

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. Intercompany transactions and balances have been eliminated in the preparation of the consolidated financial statements. Accounting standards require the Company to present noncontrolling interests as a separate component of stockholders' equity on the Company's consolidated balance sheet and statement of operations.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. In presenting the consolidated financial statements, management makes estimates regarding valuations of financial instruments, loans and allowances for credit losses, the outcome of legal and regulatory matters, goodwill and other intangible assets, stock-based compensation plans, mortgage servicing rights, and income taxes. Estimates, by their nature, are based on judgment and available information. Therefore, actual results could be materially different from these estimates. A discussion of certain areas in which estimates are a significant component of the amounts reported on the consolidated financial statements follows.
Financial Instruments and Fair Value	Financial Instruments and Fair Value Financial Instruments Securities owned, securities sold but not yet purchased, investments and derivative contracts are carried at fair value with changes in fair value recognized in earnings each period. Fair Value Measurements Accounting guidance for the fair value measurement of financial assets, which defines fair value, establishes a framework for measuring fair value, establishes a fair value measurement hierarchy, and expands fair value measurement disclosures. Fair value, as defined by the accounting guidance, is the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy established by this accounting guidance prioritizes the inputs used in valuation techniques into the following three categories (highest to lowest priority): Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs that are significant to the overall fair value measurement. The Company's financial instruments that are recorded at fair value generally are classified within Level 1 or Level 2 within the fair value hierarchy using quoted market prices or quotes from market makers or broker-dealers. Financial instruments classified within Level 1 are valued based on quoted market prices in active markets and consist of U.S. Treasury and Agency securities, corporate equities, and certain money market instruments. Level 2 financial instruments primarily consist of investment grade and high-yield corporate debt, convertible bonds, mortgage and asset-backed securities, and municipal obligations. Financial instruments classified as Level 2 are valued based on quoted prices for similar assets and liabilities in active markets and quoted prices for identical or similar assets and liabilities in markets that are not active. Some financial instruments are classified within Level 3 within the fair value hierarchy as observable pricing inputs are not available due to limited market activity for the asset or liability. Such financial instruments include certain distressed municipal securities, interest rate lock commitments where OMHHF entered into contractual commitments to originate (purchase) and sell multifamily mortgage loans at fixed prices with fixed expiration dates, and auction rate securities ("ARS"). Fair Value Option The Company has the option to measure certain financial assets and financial liabilities at fair value with changes in fair value recognized in earnings each period. The Company may make a fair value option election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument.
Consolidation	Consolidation The Company consolidates all subsidiaries in which it has a controlling financial interest, as well as any variable interest entities ("VIEs") where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. The Company reviews factors, including the rights of the equity holders at risk and obligations of equity holders to absorb losses or receive expected residual returns, to determine if the entity is a VIE. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly or indirectly by the Company. Accounting Standards Update ("ASU") No. 2010-10, "Amendments for Certain Investment Funds," defers the application of the revised consolidation rules for a reporting entity's interest in an entity if certain conditions are met.
Financing Receivables	Financing Receivables The Company's financing receivables include customer margin loans, securities purchased under agreements to resell ("reverse repurchase agreements"), and securities borrowed transactions. The Company uses financing receivables to extend margin loans to customers, meet trade settlement requirements, and facilitate its matched-book arrangements and inventory requirements.
Allowance for Credit Losses	The Company's financing receivables are secured by collateral received from clients and counterparties. In many cases, the Company is permitted to sell or re-pledge securities held as collateral. These securities may be used to collateralize repurchase agreements, to enter into securities lending agreements, to cover short positions or fulfill the obligation of fails to deliver. The Company monitors the market value of the collateral received on a daily basis and may require clients and counterparties to deposit additional collateral or return collateral pledged, when appropriate. Customer receivables, primarily consisting of customer margin loans collateralized by customer-owned securities, are stated net of allowance for credit losses. The Company reviews large customer accounts that do not comply with the Company's margin requirements on a case-by-case basis to determine the likelihood of collection and records an allowance for credit loss following that process. For small customer accounts that do not comply with the Company's margin requirements, the allowance for credit loss is generally recorded as the amount of unsecured or partially secured receivables. The Company also makes loans to financial advisers as part of its hiring process. These loans are recorded as notes receivable on its consolidated balance sheet. Allowances are established on these loans if the financial adviser is no longer associated with the Company and the loan has not been promptly repaid.
Legal and Regulatory Reserves	Legal and Regulatory Reserves The Company records reserves related to legal and regulatory proceedings in accounts payable and other liabilities. The determination of the amounts of these reserves requires significant judgment on the part of management. In accordance with applicable accounting guidance, the Company establishes reserves for litigation and regulatory matters where available information indicates that it is probable a liability had been incurred and the Company can reasonably estimate the amount of that loss. When loss contingencies are not probable and cannot be reasonably estimated, the Company does not establish reserves. When determining whether to record a reserve, management considers many factors including, but not limited to, the amount of the claim; the stage and forum of the proceeding, the sophistication of the claimant, the amount of the loss, if any, in the client's account and the possibility of wrongdoing, if any, on the part of an employee of the Company; the basis and validity of the claim; previous results in similar cases; and applicable legal precedents and case law. Each legal and regulatory proceeding is reviewed with counsel in each accounting period and the reserve is adjusted as deemed appropriate by management. Any change in the reserve amount is recorded in the results of that period. The assumptions of management in determining the estimates of reserves may be incorrect and the actual disposition of a legal or regulatory proceeding could be greater or less than the reserve amount.
Goodwill	Goodwill The Company defines a reporting unit as an operating segment. The Company's goodwill resides in its Private Client Division ("PCD") reporting unit. Goodwill of a reporting unit is subject to at least an annual test for impairment to determine if the estimated fair value of a reporting unit is less than its carrying amount. Goodwill of a reporting unit is required to be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Due to the volatility in the financial services sector and equity markets in general, determining whether an impairment of goodwill has occurred is increasingly difficult and requires management to exercise significant judgment. The Company's interim goodwill impairment analysis performed as of August 31, 2016 and its annual goodwill impairment analysis performed as of December 31, 2016 applied the same valuation methodologies with consistent inputs as that performed as of December 31, 2015 , as follows: In estimating the fair value of the PCD, the Company uses traditional standard valuation methods, including the market comparable approach and income approach. The market comparable approach is based on comparisons of the subject company to public companies whose stocks are actively traded ("Price Multiples") or to similar companies engaged in an actual merger or acquisition ("Precedent Transactions"). As part of this process, multiples of value relative to financial variables, such as earnings or stockholders' equity, are developed and applied to the appropriate financial variables of the subject company to indicate its value. The income approach involves estimating the present value of the subject company's future cash flows by using projections of the cash flows that the business is expected to generate, and discounting these cash flows at a given rate of return ("Discounted Cash Flow" or "DCF"). Each of these standard valuation methodologies requires the use of management estimates and assumptions. In its Price Multiples valuation analysis, the Company uses various operating metrics of comparable companies, including revenues, after-tax earnings, and EBITDA as well as price-to-book value ratios at a point in time. The Company analyzes prices paid in Precedent Transactions that are comparable to the business conducted in the PCD. The DCF analysis includes the Company's assumptions regarding discount rate, growth rates of the PCD's revenues, expenses, EBITDA, and capital expenditures, adjusted for current economic conditions and expectations. The Company weighs each of the three valuation methods equally in its overall valuation. Given the subjectivity involved in selecting which valuation method to use, the corresponding weightings, and the input variables for use in the analyses, it is possible that a different valuation model and the selection of different input variables could produce a materially different estimate of the fair value of the PCD reporting unit.
Intangible Assets	Intangible Assets Indefinite intangible assets are comprised of trademarks and trade names. Trademarks and trade names, carried at $31.7 million , which are not amortized, are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. The fair value of the trademarks and trade names was substantially in excess of its carrying value as of December 31, 2016.
Share-Based Compensation Plans	Share-Based Compensation Plans As part of the compensation to employees and directors, the Company uses stock-based compensation, consisting of restricted stock, stock options and stock appreciation rights. In accordance with ASC Topic 718, "Compensation - Stock Compensation," the Company classifies the stock options and restricted stock awards as equity awards, which requires the compensation cost to be recognized in the consolidated statement of operations over the requisite service period of the award at grant date fair value and adjust for expected forfeitures. The fair value of restricted stock awards is determined based on the grant date closing price of the Company's Class A non-voting common stock ("Class A Stock") adjusted for the present value of the dividend to be received upon vesting. The fair value of stock options is determined using the Black-Scholes model. Key assumptions used to estimate the fair value include the expected term and the expected volatility of the Company's Class A Stock over the term of the award, the risk-free interest rate over the expected term, and the Company's expected annual dividend yield. The Company classifies stock appreciation rights ("OARs") as liability awards, which requires the fair value to be remeasured at each reporting period until the award vests. The fair value of OARs is also determined using the Black-Scholes model at the end of each reporting period. The compensation cost is adjusted each reporting period for changes in fair value prorated for the portion of the requisite service period rendered.
Mortgage Servicing Rights	Mortgage Servicing Rights The Company's Mortgage Servicing Rights ("MSRs") assets, held at OMHHF, are initially measured and recorded at fair value based on the present value of future net servicing income adjusted for factors such as discount rate and prepayment speeds. After initial measurement, MSRs are amortized over a ten year period. The Company assesses the capitalized MSRs for impairment quarterly by comparing the aggregate carrying value of the MSR portfolio to the aggregate estimated fair value of the portfolio.
Revenue Recognition	Revenue Recognition Brokerage Customers' securities and commodities transactions are reported on a settlement date basis, which is generally three business days after trade date for securities transactions and one day for commodities transactions. Related commission income and expense is recorded on a trade date basis. Principal Transactions Transactions in proprietary securities and related revenue and expenses are recorded on a trade date basis. Securities owned and securities sold but not yet purchased, are reported at fair value generally based upon quoted prices. Realized and unrealized changes in fair value are recognized in principal transactions, net in the period in which the change occurs. Investment Banking Fees Underwriting revenues and advisory fees from mergers, acquisitions and restructuring transactions are recorded when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues are presented net of related expenses. Non-reimbursable expenses associated with advisory transactions are recorded within other expenses. Interest Interest revenue represents interest earned on margin debit balances, securities borrowed transactions, reverse repurchase agreements, fixed income securities, firm investments, and cash and cash equivalents. Interest revenue is recognized in the period earned based upon average or daily asset balances, contractual cash flows, and interest rates. Asset Management Asset management fees are generally recognized over the period the related service is provided based on the account value at the valuation date per the respective asset management agreements. In certain circumstances, OAM is entitled to receive performance (or incentive) fees when the return on assets under management ("AUM") exceeds certain benchmark returns or other performance targets. Performance fees are generally based on investment performance over a 12-month period and are not subject to adjustment once the measurement period ends. Such fees are computed as of the fund's year-end when the measurement period ends and generally are recorded as earned in the fourth quarter of the Company's fiscal year. Asset management fees and performance fees are included in advisory fees in the consolidated statement of operations. Assets under management are not included as assets of the Company.
Balance Sheet	Balance Sheet Cash and Cash Equivalents The Company defines cash equivalents as highly liquid investments with original maturities of less than 90 days that are not held for sale in the ordinary course of business. Receivables from / Payables to Brokers, Dealers and Clearing Organizations Securities borrowed and securities loaned are carried at the amounts of cash collateral advanced or received. Securities borrowed transactions require the Company to deposit cash or other collateral with the lender. The Company receives cash or collateral in an amount generally in excess of the market value of securities loaned. The Company monitors the market value of securities borrowed and loaned on a daily basis and may require counterparties to deposit additional collateral or return collateral pledged, when appropriate. Securities failed to deliver and receive represent the contract value of securities which have not been received or delivered by settlement date. Securities Purchased under Agreements to Resell and Securities Sold under Agreements to Repurchase Reverse repurchase agreements and securities sold under agreements to repurchase ("repurchase agreements") are treated as collateralized financing transactions and are recorded at their contractual amounts plus accrued interest. The resulting interest income and expense for these arrangements are included in interest income and interest expense in the consolidated statement of operations. Additionally, the Company elected the fair value option for repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. The Company can present the reverse repurchase and repurchase transactions on a net-by-counterparty basis when the specific offsetting requirements are satisfied. Notes Receivable Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisers and key revenue producers as part of the Company's overall growth strategy. These notes amortize over a service period of 3 to 5 years from the initial date of the note or based on productivity levels of employees. All such notes are contingent on the employees' continued employment with the Company. The unforgiven portion of the notes becomes due on demand in the event the employee departs during the service period. Amortization of notes receivable is included in the consolidated statement of operations in compensation and related expenses. Furniture, Equipment and Leasehold Improvements Furniture, equipment and leasehold improvements are stated at cost less accumulated depreciation. Depreciation of furniture, fixtures, and equipment is provided on a straight-line basis generally over 3 - 7 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the improvement or the remaining term of the lease. Leases with escalating rents are expensed on a straight-line basis over the life of the lease. Landlord incentives are recorded as deferred rent and amortized, as reductions to lease expense, on a straight-line basis over the life of the applicable lease. Deferred rent is included in accounts payable and other liabilities on the consolidated balance sheet. Drafts Payable Drafts payable represent amounts drawn by the Company against a bank. Foreign Currency Translations Foreign currency balances have been translated into U.S. dollars as follows: monetary assets and liabilities at exchange rates prevailing at period end; revenue and expenses at average rates for the period; and non-monetary assets and stockholders' equity at historical rates. The functional currency of the overseas operations is the local currency in each location except for Oppenheimer Europe Ltd. and Oppenheimer Investments Asia Limited which have the U.S. dollar as their functional currency. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company records interest and penalties accruing on unrecognized tax benefits in income (loss) before income taxes as interest expense and other expense, respectively, in its consolidated statement of operations. The Company permanently reinvests eligible earnings of its foreign subsidiaries and, accordingly, does not accrue any U.S. income taxes that would arise if such earnings were repatriated.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted In January 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-01, "Income Statement - Extraordinary and Unusual Items," to simplify income statement classification by removing the concept of extraordinary items. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. However, the existing requirement to separately present items that are of an unusual nature or occur infrequently on a pre-tax basis within income from continuing operations has been retained. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU did not have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, "Consolidation - Amendments to the Consolidation Analysis," to eliminate the deferral of the application of the revised consolidation rules and make changes to both the variable interest model and the voting model. Under this ASU, a general partner will not consolidate a partnership or similar entity under the voting model. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU impacted the disclosure of VIEs but did not have a material impact on the Company's consolidated financial statements. See Note 7, Variable interest entities, below. In April 2015, the FASB issued ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs," which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU did not have a material impact on the Company's consolidated financial statements. In May 2015, the FASB issued ASU No. 2015-07, "Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)," which removes the requirement to categorize within the fair value hierarchy all investments measured using the net asset value per share practical expedient and related disclosures. The ASU became effective for the interim and annual reporting periods in the fiscal year that began after December 15, 2015. The adoption of the ASU impacted the Company's fair value disclosures but did not have a material impact on the Company's consolidated financial statements. See Note 5, Fair value measurements, below. In August 2014, the FASB issued ASU No. 2014-15, "Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern," which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The ASU requires management of an entity to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements and also provide disclosures if there is "substantial doubt about the entity's ability to continue as a going concern." The ASU is effective for the annual reporting period in the fiscal year ending after December 15, 2016. The adoption of the ASU did not have an impact to the disclosure of the Company's consolidated financial statements. Recently Issued In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The ASU outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Additionally, the ASU expands the disclosure requirements for revenue recognition. The ASU was originally effective for the annual reporting period in the fiscal year that begins after December 15, 2016. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers: Deferral of the Effective Date," which provides amendments that defer the effective date of ASU 2014-09 by one year. In 2016, the FASB additionally issued ASU No. 2016-08, "Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net);" ASU No. 2016-10, "Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing;" and ASU 2016-12, "Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients." The amendments in these updates are effective either retrospectively to each prior reporting period presented, or as a cumulative-effect adjustment as of the date of adoption, during interim and annual periods beginning after December 15, 2017, with early adoption permitted beginning after December 15, 2016. The Company is currently assessing the impact of the adoption of this update on its financial condition, results of operations and cash flows, and disclosures related thereto. Based on the Company’s preliminary assessment, it has determined that the adoption of this update may defer the timing of the recognition of upfront investment banking advisory fees (e.g., retainer and engagement fees) until completion of the engagement. These upfront fees are currently recognized ratably over the service period. The new guidance may also require underwriting expenses to be recorded on a gross basis while the current guidance requires recognizing underwriting revenues net of related underwriting expenses. In addition, the new guidance requires enhanced disclosures, including revenue recognition policies to identify performance obligations to customers and significant judgments in measurement and recognition. The Company is continuing its assessment and may identify other revenue streams that are impacted. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities," which revises an entity's accounting related to the classification and measurement of investments in equity securities, changes the presentation of certain fair value changes relating to instrument specific credit risk for financial liabilities and amends certain disclosure requirements associated with the fair value of financial instruments. The ASU is effective for fiscal years beginning after December 15, 2017. The adoption of the ASU will not have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases." The ASU requires the recognition of a right-of use asset and lease liability on the balance sheet by lessees for those leases classified as operating leases under previous guidance. The ASU is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of adopting this ASU which it expects will have a material impact on its consolidated financial statements. Since the Company has operating leases in over 100 locations, the Company expects to recognize a significant right-of use asset and lease liability on its consolidated balance sheet upon adoption of this ASU. In March 2016, the FASB issued ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting," which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and minimum statutory tax withholding requirements, as well as classification in the statement of cash flows. Under the prior guidance, the tax effects of deductions in excess of compensation expense ("windfalls"), as well as the tax effect of any deficiencies ("shortfalls") were recorded in equity to the extent of previously recognized windfalls, with any remaining shortfall recorded in income tax expense. Under the new guidance, all tax effects related to share-based payments are recorded through tax expense in the periods during which the awards are exercised or vest, as applicable. Additionally, under the new guidance, entities will be permitted to make an accounting policy election to either estimate forfeitures each period or to account for forfeitures as they occur. The ASU is effective for the fiscal year beginning after December 15, 2016 and early adoption is permitted. The Company will not early adopt this ASU. The Company evaluated the ASU and the adoption of the ASU is not expected to have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to U.S. GAAP an impairment model ("current expected credit loss model"). Under this new guidance, an entity recognizes as an allowance its estimate of expected credit losses. The ASU is effective for the fiscal year beginning after December 15, 2019. The Company is currently evaluating the impact, if any, that the ASU will have on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments," which amends the guidance on the classification of certain cash receipts and payments in the statement of cash flow. The ASU is effective for the fiscal year beginning after December 15, 2017 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact of the ASU and the adoption of the ASU is not expected to have a material impact on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-17, "Consolidation - Interests Held Through Related Parties that are under Common Control," which amends the guidance on related parties that are under common control. The ASU requires that a single decision maker consider indirect interests held by related parties under common control on a proportionate basis in a manner consistent with its evaluation of indirect interests held through other related parties. The ASU is effective for the fiscal year beginning after December 15, 2016 and early adoption is permitted. The Company will not early adopt this ASU. The Company evaluated the impact of the ASU and the adoption of the ASU is not expected to have a material impact on its consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flow - Restricted Cash," which adds or clarifies guidance on the classification and presentation of restricted cash in the statement of cash flows. The ASU is effective for the fiscal year beginning after December 15, 2017 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact of the ASU and the adoption of the ASU is not expected to have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other, Simplifying the Test for Goodwill Impairment," which simplifies the subsequent measurement of goodwill. The Company is no longer required to perform its Step 2 goodwill impairment test, instead, the Company should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The ASU is effective for the fiscal year beginning after December 15, 2019 and early adoption is permitted. The Company will not early adopt this ASU. The Company is currently evaluating the impact of the ASU and the adoption of the ASU is not expected to have a material impact on its consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations [Table Text Block]	The following is a summary of the assets and liabilities held for sale of OMHHF as of December 31, 2016 and December 31, 2015 : (Expressed in thousands) December 31, 2016 December 31, 2015 ASSETS Securities owned $ 3,560 $ 562 Loans held for sale — 60,234 Mortgage servicing rights — 28,168 Other assets 1,628 10,917 Total assets $ 5,188 $ 99,881 LIABILITIES Accounts payable and other liabilities $ 1,217 $ 64,124 Deferred tax liability — 10,556 Total liabilities $ 1,217 $ 74,680 The following is a summary of revenue and expenses of OMHHF for the years ended December 31, 2016 , 2015 and 2014: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 REVENUE Interest $ 943 $ 1,999 $ 1,739 Principal transactions, net (9,022 ) 5,323 2,184 Gain on sale of assets 16,475 — — Other 16,917 23,262 19,406 Total revenue 25,313 30,584 23,329 EXPENSES Compensation and related expenses 4,311 12,406 10,245 Communications and technology 221 361 420 Occupancy and equipment costs 415 302 341 Interest 408 994 845 Other 2,619 7,382 2,932 Total expenses 7,974 21,445 14,783 Income before income taxes $ 17,339 $ 9,139 $ 8,546 Income attributable to noncontrolling interest before income taxes $ 2,830 $ 1,491 $ 1,395 The following is a summary of cash flows of OMHHF for the years ended December 31, 2016 , 2015 and 2014: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Cash (used in) provided by operating activities $ (14,097 ) $ 3,322 $ 6,877 Cash provided by investing activities 45,448 — — Cash used in financing activities (1) (35,421 ) (249 ) (251 ) Net (decrease) increase in cash and cash equivalents $ (4,070 ) $ 3,073 $ 6,626 (1) Includes cash dividends paid to its parent (E.A. Viner International Co.) and noncontrolling interest of $29.4 million and $5.7 million , respectively, for the year ended December 31, 2016.

Receivable From and Payable t33

Receivable From and Payable to Brokers, Dealers and Clearing Organizations (Tables)	12 Months Ended
	Dec. 31, 2016
Brokers and Dealers [Abstract]
Receivable from and Payable to Brokers, Dealers and Clearing Organizations	(Expressed in thousands) As of December 31, 2016 2015 Receivable from brokers, dealers and clearing organizations consist of: Securities borrowed $ 154,090 $ 224,672 Receivable from brokers 25,768 49,458 Securities failed to deliver 6,172 7,799 Clearing organizations 26,081 25,030 Other 2,823 58,832 Total $ 214,934 $ 365,791 Payable to brokers, dealers and clearing organizations consist of: Securities loaned $ 179,875 $ 130,658 Payable to brokers 610 3,316 Securities failed to receive 11,523 21,513 Other 29,381 9,059 Total $ 221,389 $ 164,546

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value	Securities Owned and Securities Sold But Not Yet Purchased at Fair Value (Expressed in thousands) As of December 31, 2016 2015 Owned (1) Sold Owned (1) Sold U.S. treasury, agency and sovereign obligations $ 459,051 $ 28,674 $ 509,614 $ 77,485 Corporate debt and other obligations 17,074 2,536 16,138 1,652 Mortgage and other asset-backed securities 5,024 31 3,504 27 Municipal obligations 56,750 516 30,132 — Convertible bonds 56,480 11,604 54,693 5,951 Corporate equities 31,174 41,689 34,475 41,378 Money markets 189 — 35 — Auction rate securities 84,926 — 86,802 — Total $ 710,668 $ 85,050 $ 735,393 $ 126,493
Quantitative Information about Level 3 Fair Value Measurements	Additional information regarding the valuation technique and inputs for ARS used is as follows: (Expressed in thousands) Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2016 Product Principal Valuation Adjustment Fair Value Valuation Technique Unobservable Input Range Weighted Average Auction Rate Securities Owned (1) Auction Rate Preferred Securities $ 87,800 $ 3,171 $ 84,629 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Municipal Auction Rate Securities 25 1 24 Discounted Cash Flow Discount Rate (4) 3.16% 3.16% Duration 4.5 Years 4.5 Years Current Yield (3) 2.05% 2.05% Student Loan Auction Rate Securities 300 27 273 Discounted Cash Flow Discount Rate (5) 3.45% 3.45% Duration 7.0 Years 7.0 Years Current Yield (3) 1.98% 1.98% $ 88,125 $ 3,199 $ 84,926 Auction Rate Securities Commitments to Purchase (6) Auction Rate Preferred Securities $ 6,654 $ (849 ) $ 7,503 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Auction Rate Preferred Securities 24,329 643 23,686 Discounted Cash Flow Discount Rate (2) 1.86% to 2.53% 2.18% Duration 4.0 Years 4.0 Years Current Yield (3) 1.18% to 1.27% 1.23% Municipal Auction Rate Securities 2 — 2 Discounted Cash Flow Discount Rate (4) 3.16% 3.16% Duration 4.5 Years 4.5 Years Current Yield (3) 2.05% 2.05% Student Loan Auction Rate Securities 27 2 25 Discounted Cash Flow Discount Rate (5) 3.45% 3.45% Duration 7.0 Years 7.0 Years Current Yield (3) 1.98% 1.98% $ 31,012 $ (204 ) $ 31,216 Total $ 119,137 $ 2,995 $ 116,142 (1) Principal amount represents the par value of the ARS and is included in securities owned on the consolidated balance sheet as of December 31, 2016 . The valuation adjustment amount is included as a reduction to securities owned on the consolidated balance sheet as of December 31, 2016 . (2) Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.69% . (3) Based on current yields for ARS positions owned. (4) Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.81% . (5) Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.25% . (6) Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amounts, unrealized gains and losses, are included in other assets and accounts payable and other liabilities, respectively, on the consolidated balance sheet as of December 31, 2016 .
Investments in Company-Sponsored Funds	The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2016 : (Expressed in thousands) Fair Value Unfunded Commitments Redemption Frequency Redemption Notice Period Hedge funds (1) $ 2,423 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,425 1,251 N/A N/A $ 6,848 $ 1,251 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period greater than one year. (2) Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals without the consent of the general partner. The lock-up period of the private equity funds can extend to 10 years.
Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company's assets and liabilities, recorded at fair value on a recurring basis as of December 31, 2016 and 2015 , have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 (Expressed in thousands) Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 16,242 $ — $ — $ 16,242 Deposits with clearing organizations 26,437 — — 26,437 Securities owned: U.S. Treasury securities (1) 418,888 — — 418,888 U.S. Agency securities 5,878 32,391 — 38,269 Sovereign obligations — 1,894 — 1,894 Corporate debt and other obligations — 17,074 — 17,074 Mortgage and other asset-backed securities — 5,024 — 5,024 Municipal obligations — 56,706 44 56,750 Convertible bonds — 56,480 — 56,480 Corporate equities 31,174 — — 31,174 Money markets 189 — — 189 Auction rate securities — — 84,926 84,926 Securities owned, at fair value 456,129 169,569 84,970 710,668 Investments (2) — — 158 158 Securities purchased under agreements to resell (3) — 24,006 — 24,006 Derivative contracts: TBAs — 814 — 814 ARS purchase commitments — — 849 849 Derivative contracts, total — 814 849 1,663 Total $ 498,808 $ 194,389 $ 85,977 $ 779,174 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 28,662 $ — $ — $ 28,662 U.S. Agency securities — 12 — 12 Corporate debt and other obligations — 2,536 — 2,536 Mortgage and other asset-backed securities — 31 — 31 Municipal obligations — 516 — 516 Convertible bonds — 11,604 — 11,604 Corporate equities 41,689 — — 41,689 Securities sold but not yet purchased, at fair value 70,351 14,699 — 85,050 Derivative contracts: Futures 166 — — 166 Foreign exchange forward contracts 1 — — 1 TBAs — 1,212 — 1,212 ARS purchase commitments — — 645 645 Derivative contracts, total 167 1,212 645 2,024 Total $ 70,518 $ 15,911 $ 645 $ 87,074 (1) $3.6 million is included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (2) Included in other assets on the consolidated balance sheet. (3) Included in securities purchased under agreements to resell where the Company has elected fair value option treatment. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 (Expressed in thousands) Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 13,000 $ — $ — $ 13,000 Deposits with clearing organizations 31,456 — — 31,456 Securities owned: U.S. Treasury securities (1) 436,533 — — 436,533 U.S. Agency securities 25,240 46,176 — 71,416 Sovereign obligations — 1,665 — 1,665 Corporate debt and other obligations — 16,138 — 16,138 Mortgage and other asset-backed securities — 3,504 — 3,504 Municipal obligations — 30,051 81 30,132 Convertible bonds — 54,693 — 54,693 Corporate equities 34,475 — — 34,475 Money markets 35 — — 35 Auction rate securities — — 86,802 86,802 Securities owned, at fair value 496,283 152,227 86,883 735,393 Investments (2) — — 157 157 Loans held for sale (3) — 60,234 — 60,234 Securities purchased under agreements to resell (4) — 206,499 — 206,499 Derivative contracts: TBAs — 6,448 — 6,448 Interest rate lock commitments — — 9,161 9,161 Derivative contracts, total — 6,448 9,161 15,609 Total $ 540,739 $ 425,408 $ 96,201 $ 1,062,348 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 75,653 $ — $ — $ 75,653 U.S. Agency securities — 15 — 15 Sovereign Obligations — 1,817 — 1,817 Corporate debt and other obligations — 1,652 — 1,652 Mortgage and other asset-backed securities — 27 — 27 Convertible bonds — 5,951 — 5,951 Corporate equities 41,378 — — 41,378 Securities sold but not yet purchased, at fair value 117,031 9,462 — 126,493 Derivative contracts: Futures 249 — — 249 Foreign exchange forward contracts 2 — — 2 TBAs — 11,619 — 11,619 Interest rate lock commitments — — 923 923 ARS purchase commitments — — 1,369 1,369 Derivative contracts, total 251 11,619 2,292 14,162 Total $ 117,282 $ 21,081 $ 2,292 $ 140,655 (1) $562,000 is included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (2) Included in other assets on the consolidated balance sheet. (3) Included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (4) Included in securities purchased under agreements to resell where the Company has elected fair value option treatmen
Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2016 and 2015 : (Expressed in thousands) Level 3 Assets and Liabilities For the Year Ended December 31, 2016 Beginning Balance Total Realized and Unrealized Gains (Losses) (4)(5) Purchases and Issuances Sales and Settlements Transfers In (Out) Ending Balance Assets Municipal obligations $ 81 $ 25 $ — $ (62 ) $ — $ 44 Auction rate securities (1)(6)(7) 86,802 1,974 13,775 (17,625 ) — 84,926 Interest rate lock commitments (2) 9,161 4,345 — (13,506 ) — — Investments 157 1 — — — 158 ARS purchase commitments (3) — 849 — — — 849 Liabilities Interest rate lock commitments (2) 923 923 — — — — ARS purchase commitments (3) 1,369 724 — — — 645 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination-related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. (3) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (4) Included in principal transactions in the consolidated statement of operations, except for investments which are included in other income in the consolidated statement of operations. (5) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. (6) Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS. (7) Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and awards. (Expressed in thousands) Level 3 Assets and Liabilities For the Year Ended December 31, 2015 Beginning Balance Total Realized and Unrealized Gains (Losses) (4)(5) Purchases and Issuances Sales and Settlements Transfers In (Out) Ending Balance Assets Municipal obligations $ 164 $ (63 ) $ — $ (20 ) $ — $ 81 Auction rate securities (1)(6)(7) 91,422 1,955 17,950 (24,525 ) — 86,802 Interest rate lock commitments (2) 7,576 1,585 — — — 9,161 Investments 193 (36 ) — — — 157 Liabilities Interest rate lock commitments (2) 1,222 299 — — — 923 ARS purchase commitments (3) 902 (467 ) — — — 1,369 (1) Represents auction rate preferred securities, municipal auction rate securities and student loan auction rate securities that failed in the auction rate market. (2) Interest rate lock commitment assets and liabilities are recorded upon the commitment to originate a loan with a borrower and sell the loan to an investor. The commitment assets and liabilities are recognized at fair value, which reflects the fair value of the contractual loan origination-related fees and sale premiums, net of co-broker fees, and the estimated fair value of the expected net future cash flows associated with the servicing of the loan. (3) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (4) Included in principal transactions in the consolidated statement of operations, except for investments which are included in other income in the consolidated statement of operations. (5) Unrealized gains (losses) are attributable to assets or liabilities that are still held at the reporting date. (6) Purchases and issuances in connection with ARS purchase commitments represent instances in which the Company purchased ARS securities from clients during the period pursuant to regulatory and legal settlements and awards that satisfy the outstanding commitment to purchase obligation. This also includes instances where the ARS issuer has redeemed ARS where the Company had an outstanding purchase commitment prior to the Company purchasing those ARS. (7) Sales and settlements for the ARS purchase commitments represent additional purchase commitments made during the period for regulatory and legal ARS settlements and award
Assets and Liabilities Not Measured at Fair Value on Recurring Basis	. Assets and liabilities not measured at fair value as of December 31, 2016 (Expressed in thousands) Fair Value Measurement: Assets As of December 31, 2016 As of December 31, 2016 Carrying Value Fair Value Level 1 Level 2 Level 3 Total Cash $ 48,671 $ 48,671 $ 48,671 $ — $ — $ 48,671 Deposits with clearing organization 11,748 11,748 11,748 — — 11,748 Receivable from brokers, dealers and clearing organizations: Securities borrowed 154,090 154,090 — 154,090 — 154,090 Receivables from brokers 25,768 25,768 — 25,768 — 25,768 Securities failed to deliver 6,172 6,172 — 6,172 — 6,172 Clearing organizations 26,081 26,081 — 26,081 — 26,081 Other 2,823 2,823 — 2,823 — 2,823 214,934 214,934 — 214,934 — 214,934 Receivable from customers 847,386 847,386 — 847,386 — 847,386 Investments (1) 56,300 56,300 — 56,300 — 56,300 (1) Included in other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities As of December 31, 2016 As of December 31, 2016 Carrying Value Fair Value Level 1 Level 2 Level 3 Total Drafts payable $ 39,228 $ 39,228 $ 39,228 $ — $ — $ 39,228 Bank call loans 145,800 145,800 — 145,800 — 145,800 Payables to brokers, dealers and clearing organizations: Securities loaned 179,875 179,875 — 179,875 — 179,875 Payable to brokers 610 610 — 610 — 610 Securities failed to receive 11,523 11,523 — 11,523 — 11,523 Other 29,381 29,381 — 29,381 — 29,381 221,389 221,389 — 221,389 — 221,389 Payables to customers 449,946 449,946 — 449,946 — 449,946 Securities sold under agreements to repurchase 378,084 378,084 — 378,084 — 378,084 Senior secured notes 150,000 151,782 — 151,782 — 151,782 Assets and liabilities not measured at fair value as of December 31, 2015 (Expressed in thousands) Fair Value Measurement: Assets As of December 31, 2015 As of December 31, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Total Cash $ 50,364 $ 50,364 $ 50,364 $ — $ — $ 50,364 Deposits with clearing organization 18,034 18,034 18,034 — — 18,034 Receivable from brokers, dealers and clearing organizations: Securities borrowed 224,672 224,672 — 224,672 — 224,672 Receivables from brokers 49,458 49,458 — 49,458 — 49,458 Securities failed to deliver 7,799 7,799 — 7,799 — 7,799 Clearing organizations 25,030 25,030 — 25,030 — 25,030 Other 58,832 58,832 — 58,832 — 58,832 365,791 365,791 — 365,791 — 365,791 Receivable from customers 840,355 840,355 — 840,355 — 840,355 Mortgage servicing rights (1) 28,168 41,838 — — 41,838 41,838 Investments (2) 53,286 53,286 — 53,286 — 53,286 (1) Included in assets held for sale on the consolidated balance sheet. See Note 3 for details. (2) Included in other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities As of December 31, 2015 As of December 31, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Total Drafts payable $ 48,011 $ 48,011 $ 48,011 $ — $ — $ 48,011 Bank call loans 100,200 100,200 — 100,200 — 100,200 Payables to brokers, dealers and clearing organizations: Securities loaned 130,658 130,658 — 130,658 — 130,658 Payable to brokers 3,316 3,316 — 3,316 — 3,316 Securities failed to receive 21,513 21,513 — 21,513 — 21,513 Other 9,059 9,059 — 9,059 — 9,059 164,546 164,546 — 164,546 — 164,546 Payables to customers 594,833 594,833 — 594,833 — 594,833 Securities sold under agreements to repurchase 651,445 651,445 — 651,445 — 651,445 Warehouse payable (1) 54,341 54,341 — 54,341 — 54,341 Senior secured notes 150,000 154,568 — 154,568 — 154,568 (1) Included in liabilities held for sale on the consolidated balance sheet. See Note 3 for details.
Notional Amounts and Fair Values of Derivatives by Product	. The notional amounts and fair values of the Company's derivatives as of December 31, 2016 and 2015 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2016 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 169,500 $ 332 TBA sale contracts 121,573 482 ARS purchase commitments 6,654 849 $ 297,727 $ 1,663 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 4,059,000 $ 166 Other contracts Foreign exchange forward contracts 200 1 TBAs 169,500 289 TBA purchase contracts 121,573 923 Forward start repurchase agreements 382,000 — ARS purchase commitments 24,358 645 $ 4,756,631 $ 2,024 (1) See "Derivative Instruments and Hedging Activities" above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2015 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 35,650 $ 4 TBA sale contracts 83,810 6,444 Interest rate lock commitments 203,648 9,161 $ 323,108 $ 15,609 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 2,943,000 $ 249 Other contracts Foreign exchange forward contracts 400 2 TBAs 24,350 5 TBA sale contracts 223,846 11,614 Interest rate lock commitments 48,638 923 ARS purchase commitments 27,813 1,369 $ 3,268,047 $ 14,162 (1) See "Derivative Instruments and Hedging Activities" above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offse
Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations	. The following table presents the location and fair value amounts of the Company's derivative instruments and their effect in the consolidated statements of operations for the years ended December 31, 2016 and 2015 :

Collateralized Transactions (Ta

Collateralized Transactions (Tables)	12 Months Ended
	Dec. 31, 2016
Brokers and Dealers [Abstract]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of December 31, 2016 : (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Treasury and Agency securities $ 378,084 Securities loaned: Equity securities 179,875 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 557,959
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions	The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of December 31, 2016 and 2015 : As of December 31, 2016 (Expressed in thousands) Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Assets Gross Amounts Offset on the Balance Sheet Net Amounts of Assets Presented on the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Reverse repurchase agreements $ 24,006 $ — $ 24,006 $ (23,972 ) $ — $ 34 Securities borrowed (1) 154,090 — 154,090 (150,510 ) — 3,580 Total $ 178,096 $ — $ 178,096 $ (174,482 ) $ — $ 3,614 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 378,084 $ — $ 378,084 $ (376,273 ) $ — $ 1,811 Securities loaned (2) 179,875 — 179,875 (171,991 ) — 7,884 Total $ 557,959 $ — $ 557,959 $ (548,264 ) $ — $ 9,695 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. As of December 31, 2015 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 282,042 $ (75,543 ) $ 206,499 $ (203,266 ) $ — $ 3,233 Securities borrowed (1) 224,672 — 224,672 (219,099 ) — 5,573 Total $ 506,714 $ (75,543 ) $ 431,171 $ (422,365 ) $ — $ 8,806 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. Gross Amounts Not Offset on the Balance Sheet Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Balance Sheet Net Amounts of Liabilities Presented on the Balance Sheet Financial Instruments Cash Collateral Pledged Net Amount Repurchase agreements $ 726,988 $ (75,543 ) $ 651,445 $ (645,498 ) $ — $ 5,947 Securities loaned (2) 130,658 — 130,658 (122,650 ) — 8,008 Total $ 857,646 $ (75,543 ) $ 782,103 $ (768,148 ) $ — $ 13,955 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2016
Variable Interest Entity [Abstract]
Variable Interest Entities	The following tables set forth the total VIE assets, the carrying value of the subsidiaries' variable interests, and the Company's maximum exposure to loss in Company-sponsored non-consolidated VIEs in which the Company holds variable interests and other non-consolidated VIEs in which the Company holds variable interests as of December 31, 2016 and 2015 : (Expressed in thousands) As of December 31, 2016 Total VIE Assets (1) Carrying Value of the Capital Commitments Maximum Exposure to Loss in Non-consolidated VIEs Assets (2) Liabilities Hedge funds $ 296,807 $ 706 $ — $ — $ 706 Private equity funds 26,300 15 — 2 17 Total $ 323,107 $ 721 $ — $ 2 $ 723 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet. (Expressed in thousands) As of December 31, 2015 Total (1) Carrying Value of the Capital Maximum Assets (2) Liabilities Hedge funds $ 1,775,503 $ 1,354 $ — $ — $ 1,354 Private equity funds 54,800 27 — 2 29 Total $ 1,830,303 $ 1,381 $ — $ 2 $ 1,383 (1) Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs. (2) Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet.

Commercial Mortgage Banking (Ta

Commercial Mortgage Banking (Tables)	12 Months Ended
	Dec. 31, 2016
Transfers and Servicing [Abstract]
Unpaid Principal Balance of Loans	The total unpaid principal balance of loans the Company was servicing for various institutional investors as of December 31, 2016 and 2015 was as follows: (Expressed in thousands) 2016 2015 Unpaid principal balance of loans $ — $ 3,974,292
Summary of Changes in Carrying Value of Mortgage Servicing Rights	he following tables summarize the changes in carrying value of MSRs for the years ended December 31, 2016 and 2015 : (Expressed in thousands) For the Years Ended December 31, 2016 2015 Balance at beginning of year $ 28,168 $ 30,140 Originations (1) 2,575 6,569 Purchases 478 799 Disposals (1) (1,753 ) (8,613 ) Sale of MSRs (28,182 ) — Amortization expense (1,286 ) (727 ) Balance at end of year $ — $ 28,168 (1) Includes refinancings.
Components of Mortgage Servicing Rights Fees	The Company receives fees during the course of servicing the mortgage loans. The fees for the years ended December 31, 2016 , 2015 and 2014 were as follows: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Servicing fees $ 3,249 $ 5,848 $ 5,552 Ancillary fees 162 310 328 Total MSR fees $ 3,411 $ 6,158 $ 5,880

Office Facilities (Tables)

Office Facilities (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Office Facilities	(Expressed in thousands) For the Years Ended December 31, 2016 2015 Furniture, fixtures and equipment $ 55,210 $ 75,704 Leasehold improvements 56,096 57,393 Total 111,306 133,097 Less accumulated depreciation (84,073 ) (104,812 ) Total $ 27,233 $ 28,285

Bank Call Loans (Tables)

Bank Call Loans (Tables)	12 Months Ended
	Dec. 31, 2016
Bank Call Loans [Abstract]
Summary of Bank Call Loans	Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.50% at December 31, 2016 ( 2.25% at December 31, 2015 ). Details of the bank call loans are as follows: (Expressed in thousands, except percentages) 2016 2015 Year-end balance $ 145,800 $ 100,200 Weighted interest rate (at end of year) 1.77 % 1.56 % Maximum balance (at any month-end) 151,900 189,000 Average amount outstanding (during the year) 106,455 116,267 Average interest rate (during the year) 1.52 % 1.28 %

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(Expressed in thousands) Issued Maturity Date December 31, 2016 December 31, 2015 Senior Secured Notes 4/15/2018 $ 150,000 $ 150,000 Unamortized Debt Issuance Cost (648 ) (1,132 ) $ 149,352 $ 148,868

Share Capital (Tables)

Share Capital (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Changes in Number of Shares of Class A Stock Outstanding	The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated: 2016 2015 Class A Stock outstanding, beginning of year 13,238,486 13,530,688 Issued pursuant to shared-based compensation plans (Note 15) 283,471 131,524 Repurchased and canceled pursuant to the stock buy-back (260,862 ) (423,726 ) Class A Stock outstanding, end of year 13,261,095 13,238,486

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Summary of Earnings Per Share	Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Year Ended December 31, 2016 2015 2014 Basic weighted average number of shares outstanding 13,368,768 13,640,610 13,604,258 Net dilutive effect of share-based awards, treasury method (1) — — 646,405 Diluted weighted average number of shares outstanding 13,368,768 13,640,610 14,250,663 Net income (loss) from continuing operations $ (9,630 ) $ (2,834 ) $ 5,056 Net income from discontinued operations 10,121 5,732 4,505 Net income 491 2,898 9,561 Net income attributable to noncontrolling interest, net of tax 1,652 936 735 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (1,161 ) $ 1,962 $ 8,826 Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.72 ) $ (0.21 ) $ 0.37 Discontinued operations (2) 0.63 0.35 0.28 Net income (loss) per share $ (0.09 ) $ 0.14 $ 0.65 Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.72 ) $ (0.21 ) $ 0.36 Discontinued operations (2) 0.63 0.35 0.26 Net income (loss) per share $ (0.09 ) $ 0.14 $ 0.62 (1) For the year ended December 31, 2016 , the diluted earnings per share computation does not include the anti-dilutive effect of 1,237,134 shares of Class A Stock granted under share-based compensation arrangements ( 1,269,585 and 43,008 shares for the years ended December 31, 2015 and 2014 , respectively).

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Reconciliation of Effective Income Tax Rate	The income tax provision from continuing operations shown in the consolidated statements of operations is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit, as follows: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Amount Percentage Amount Percentage Amount Percentage U.S. federal statutory income tax rate $ (7,662 ) 35.0 % $ (851 ) 35.0 % $ 6,017 35.0 % U.S. state and local income taxes, net of U.S. federal income tax benefits (1,075 ) 4.9 % (69 ) 2.8 % 1,432 8.3 % Unrecognized tax benefit (603 ) 2.8 % 589 -24.3 % 6 — % Valuation allowance 1,208 -5.5 % — — % — — % Non-taxable income (1,267 ) 5.8 % (696 ) 28.7 % (593 ) -3.4 % Non-deductible legal and regulatory expenses — — % — — % 5,296 30.8 % Provision to return adjustments (4,167 ) 19.0 % 442 -18.2 % (3 ) — % Change in tax rates 264 -1.2 % 305 -12.5 % 53 0.3 % Foreign tax rate differentials 143 -0.7 % 145 -6.0 % (447 ) -2.6 % Other non-deductible expenses 897 -4.1 % 541 -22.2 % 373 2.2 % Total income tax provision $ (12,262 ) 56.0 % $ 406 -16.7 % $ 12,134 70.6 %
Schedule of Current and Deferred Income Tax (Benefit)	Income taxes from continuing operations included in the consolidated statements of operations represent the following: (Expressed in thousands) For the Years Ended December 31, 2016 2015 2014 Current: U.S. federal tax (benefit) $ (15,433 ) $ (5,751 ) $ 9,294 State and local tax (4,631 ) (74 ) 817 Non-U.S. operations 46 181 (264 ) Total Current (20,018 ) (5,644 ) 9,847 Deferred: U.S. federal tax 5,856 4,198 (529 ) State and local tax 617 1,632 1,529 Non-U.S. operations 1,283 220 1,287 Total Deferred 7,756 6,050 2,287 Total $ (12,262 ) $ 406 $ 12,134
Schedule of Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company's deferred tax assets and liabilities from continuing operations as of December 31, 2016 and 2015 were as follows: (Expressed in thousands) As of December 31, 2016 2015 Deferred tax assets: Deferred compensation $ 26,271 $ 27,423 Deferred rent and lease incentives 15,354 16,437 Receivable reserves 3,554 4,478 Accrued expenses 1,992 3,350 Auction rate securities reserves 1,194 2,666 Net operating losses and credits 4,917 4,164 Involuntary conversion 2,381 2,245 Depreciation 1,446 — Other 1,953 2,718 Total deferred tax assets 59,062 63,481 Valuation allowance 1,280 126 Deferred tax assets after valuation allowance 57,782 63,355 Deferred tax liabilities: Goodwill 57,117 53,364 Partnership investments 6,042 7,444 Company-owned life insurance 7,478 6,431 Change in accounting method — 1,313 Depreciation — 672 Other 282 248 Total deferred tax liabilities 70,919 69,472 Deferred tax liabilities, net $ (13,137 ) $ (6,117 )
Schedule of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefit follows: (Expressed in thousands) 2016 2015 2014 Balance at beginning of year $ 2,490 $ 1,583 $ 1,574 Additions for tax positions of prior years 98 907 — Additions for tax positions of current year — — 9 Lapse in statute of limitations (652 ) — — Settlements with taxing authorities (848 ) — — Balance at end of year $ 1,088 $ 2,490 $ 1,583

Employee Compensation Plans (Ta

Employee Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summarizes of Company's Non-Vested ESP/EIP Awards	The following table summarizes the status of the Company's non-vested restricted Class A Stock awards under the EIP, ESP and OIP for the year ended December 31, 2016 : Number of Class A Shares Subject to Restricted Stock Awards Weighted Average Fair Value Remaining Contractual Life Nonvested at beginning of year 1,257,558 $ 19.29 1.7 Years Granted 408,207 12.63 3.2 Years Vested (377,011 ) 19.38 — Forfeited (65,221 ) 17.99 — Nonvested at end of year 1,223,533 $ 17.11 2.1 Years
Schedule of Stock Option Activity	There were 13,601 and 12,027 options outstanding as of December 31, 2016 and 2015 , respectively.
Stock Appreciation Rights	The following table summarized the status of the Company's outstanding OARs awards as of December 31, 2016 : Grant Date Number of OARs Outstanding Strike Price Remaining Contractual Life Fair Value as of December 31, 2016 January 19, 2012 305,660 $ 18.94 18 Days $ 0.25 January 14, 2013 325,700 15.94 1 Year 4.17 January 14, 2014 414,070 23.48 2 Years 2.22 January 9, 2015 467,940 21.94 3 Years 3.08 January 6, 2016 461,240 15.89 4 Years 5.33 1,974,610 Total weighted average values $ 19.40 2.3 Years $ 3.17

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Rental Commitments under Office and Equipment Leases	Future minimum rental commitments under such office and equipment leases as of December 31, 2016 are as follows: (Expressed in thousands) 2017 $ 40,751 2018 39,204 2019 34,149 2020 26,150 2021 22,341 2022 and thereafter 100,402 $ 262,997

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Reported Revenue and Profit Before Income Taxes	The table below presents information about the reported revenue and income (loss) before income taxes from continuing operations of the Company for the years ended December 31, 2016 , 2015 and 2014 . 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 Year Ended December 31, 2016 2015 2014 Revenue Private client (1) $ 504,192 $ 521,526 $ 582,364 Asset management (1) 92,852 97,121 99,964 Capital markets 254,933 279,589 298,597 Corporate/Other 5,802 (435 ) 210 Total $ 857,779 $ 897,801 $ 981,135 Income (loss) before income taxes Private client (1) $ 66,072 $ 59,016 $ 60,116 Asset management (1) 31,412 33,133 33,707 Capital markets (17,713 ) 5,167 17,819 Corporate/Other (101,663 ) (99,744 ) (94,452 ) Total $ (21,892 ) $ (2,428 ) $ 17,190 (1) Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.
Revenue Classified by Major Geographic Areas	Revenue, classified by the major geographic areas in which it was earned for the years ended December 31, 2016 , 2015 and 2014 was as follows: (Expressed in thousands) Year Ended December 31, 2016 2015 2014 Americas $ 815,231 $ 853,221 $ 932,032 Europe/Middle East 39,048 40,603 43,087 Asia 3,500 3,977 6,016 Total $ 857,779 $ 897,801 $ 981,135

Quarterly Information (Tables)

Quarterly Information (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Information	(Expressed in thousands, except per share amounts) Fiscal Quarters For the Year Ended December 31, 2016 Fourth Third Second First Year Revenue $ 218,945 $ 211,804 $ 212,074 $ 214,956 $ 857,779 Expenses 226,441 213,614 217,320 222,296 879,671 Loss before income taxes from continuing operations (7,496 ) (1,810 ) (5,246 ) (7,340 ) (21,892 ) Income taxes (5,072 ) (751 ) (2,627 ) (3,812 ) (12,262 ) Net loss from continuing operations (2,424 ) (1,059 ) (2,619 ) (3,528 ) (9,630 ) Net income from discontinued operations 759 413 9,330 (381 ) 10,121 Net income (loss) (1,665 ) (646 ) 6,711 (3,909 ) 491 Less net income attributable to noncontrolling interest, net of tax 125 66 1,523 (62 ) 1,652 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (1,790 ) $ (712 ) $ 5,188 $ (3,847 ) $ (1,161 ) Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.20 ) $ (0.27 ) $ (0.72 ) Discontinued operations 0.05 0.03 0.59 (0.02 ) 0.63 Net income (loss) per share $ (0.23 ) $ (0.05 ) $ 0.39 $ (0.29 ) $ (0.09 ) Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.20 ) $ (0.27 ) $ (0.72 ) Discontinued operations 0.05 0.03 0.59 (0.02 ) 0.63 Net income (loss) per share $ (0.23 ) $ (0.05 ) $ 0.39 $ (0.29 ) $ (0.09 ) Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.44 Market price of Class A Stock (1) High 19.65 16.49 16.66 16.98 19.65 Low 13.65 13.74 13.63 13.58 13.58 (1) The price quotations above were obtained from the New York Stock Exchange website. (Expressed in thousands, except per share amounts) Fiscal Quarters For the Year Ended December 31, 2015 Fourth Third Second First Year Revenue $ 225,189 $ 207,478 $ 227,959 $ 237,175 $ 897,801 Expenses 229,757 210,051 229,060 231,361 900,229 Income (loss) before income taxes from continuing operations (4,568 ) (2,573 ) (1,101 ) 5,814 (2,428 ) Income taxes (712 ) (1,437 ) 400 2,155 406 Net income (loss) from continuing operations (3,856 ) (1,136 ) (1,501 ) 3,659 (2,834 ) Net income from discontinued operations 765 359 2,146 2,462 5,732 Net income (loss) (3,091 ) (777 ) 645 6,121 2,898 Less net income attributable to noncontrolling interest, net of tax 53 131 350 402 936 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (3,144 ) $ (908 ) $ 295 $ 5,719 $ 1,962 Basic net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.11 ) $ 0.27 $ (0.21 ) Discontinued operations 0.05 0.01 0.13 0.15 0.35 Net income (loss) per share $ (0.23 ) $ (0.07 ) $ 0.02 $ 0.42 $ 0.14 Diluted net income (loss) per share attributable to Oppenheimer Holdings Inc. Continuing operations $ (0.28 ) $ (0.08 ) $ (0.11 ) $ 0.26 $ (0.21 ) Discontinued operations 0.05 0.01 0.13 0.14 0.35 Net income (loss) per share $ (0.23 ) $ (0.07 ) $ 0.02 $ 0.40 $ 0.14 Dividends per share $ 0.11 $ 0.11 $ 0.11 $ 0.11 $ 0.44 Market price of Class A Stock (1) High 20.98 26.80 27.99 24.41 27.99 Low 15.60 17.40 22.30 19.04 15.60 (1) The price quotations above were obtained from the New York Stock Exchange website.

Supplemental Guarantor Consol48

Supplemental Guarantor Consolidated Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet	OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 229 $ 10,284 $ 54,400 $ — $ 64,913 Deposits with clearing organizations — — 38,185 — 38,185 Receivable from brokers, dealers and clearing organizations — — 214,934 — 214,934 Receivable from customers, net of allowance for credit losses of $794 — — 847,386 — 847,386 Income tax receivable 41,996 28,289 — (64,469 ) 5,816 Securities purchased under agreements to resell — — 24,006 — 24,006 Securities owned, including amounts pledged of $438,385, at fair value — 23,227 683,881 — 707,108 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively — — 30,099 — 30,099 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $84,073 — 21,963 5,270 — 27,233 Assets held for sale — — 5,188 — 5,188 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — — 31,700 — 31,700 Goodwill — — 137,889 — 137,889 Other assets 71 2,598 99,804 — 102,473 Deferred tax assets 394 309 37,961 (38,664 ) — Investment in subsidiaries 584,767 483,623 — (1,068,390 ) — Intercompany receivables 37,906 37,914 — (75,820 ) — Total assets $ 665,363 $ 720,765 $ 2,210,703 $ (1,359,901 ) $ 2,236,930 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 39,228 $ — $ 39,228 Bank call loans — — 145,800 — 145,800 Payable to brokers, dealers and clearing organizations — — 221,389 — 221,389 Payable to customers — — 449,946 — 449,946 Securities sold under agreements to repurchase — — 378,084 — 378,084 Securities sold but not yet purchased, at fair value — — 85,050 — 85,050 Liabilities held for sale — — 1,217 — 1,217 Accrued compensation — — 145,053 — 145,053 Accounts payable and other liabilities 2,868 34,920 57,552 — 95,340 Income tax payable 2,440 22,189 39,840 (64,469 ) — Senior secured notes, net of debt issuance cost of $648 149,352 — — — 149,352 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — 7 51,794 (38,664 ) 13,137 Intercompany payables — 62,205 13,615 (75,820 ) — Total liabilities 154,660 119,321 1,741,126 (291,511 ) 1,723,596 Stockholders' equity Stockholders' equity attributable to Oppenheimer Holdings Inc. 510,703 601,444 466,946 (1,068,390 ) 510,703 Noncontrolling interest — — 2,631 — 2,631 Total stockholders' equity 510,703 601,444 469,577 (1,068,390 ) 513,334 Total liabilities and stockholders' equity $ 665,363 $ 720,765 $ 2,210,703 $ (1,359,901 ) $ 2,236,930 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated ASSETS Cash and cash equivalents $ 907 $ 2,586 $ 59,871 $ — $ 63,364 Deposits with clearing organizations — — 49,490 — 49,490 Receivable from brokers, dealers and clearing organizations — — 365,791 — 365,791 Receivable from customers, net of allowance for credit losses of $2,545 — — 840,355 — 840,355 Income tax receivable 33,801 27,536 — (49,106 ) 12,231 Securities purchased under agreements to resell — — 206,499 — 206,499 Securities owned, including amounts pledged of $546,334, at fair value — 1,183 733,648 — 734,831 Notes receivable, net of accumulated amortization and allowance for uncollectibles of $54,919 and $8,444, respectively — — 32,849 — 32,849 Furniture, equipment and leasehold improvements, net of accumulated depreciation of $104,812 — 20,793 7,492 — 28,285 Assets held for sale — — 99,881 — 99,881 Subordinated loan receivable — 112,558 — (112,558 ) — Intangible assets — — 31,700 — 31,700 Goodwill — — 137,889 — 137,889 Other assets 69 3,224 91,546 — 94,839 Deferred tax assets 317 330 40,456 (41,103 ) — Investment in subsidiaries 577,320 532,651 — (1,109,971 ) — Intercompany receivables 60,187 13,185 — (73,372 ) — Total assets $ 672,601 $ 714,046 $ 2,697,467 $ (1,386,110 ) $ 2,698,004 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Drafts payable $ — $ — $ 48,011 $ — $ 48,011 Bank call loans — — 100,200 — 100,200 Payable to brokers, dealers and clearing organizations — — 164,546 — 164,546 Payable to customers — — 594,833 — 594,833 Securities sold under agreements to repurchase — — 651,445 — 651,445 Securities sold but not yet purchased, at fair value — — 126,493 — 126,493 Liabilities held for sale — — 74,680 — 74,680 Accrued compensation — — 149,092 — 149,092 Accounts payable and other liabilities 3,235 35,812 69,590 — 108,637 Income tax payable 2,440 22,189 24,477 (49,106 ) — Senior secured notes, net of debt issuance costs of $1,132 148,868 — — — 148,868 Subordinated indebtedness — — 112,558 (112,558 ) — Deferred tax liabilities — — 47,220 (41,103 ) 6,117 Intercompany payables — 62,204 11,168 (73,372 ) — Total liabilities 154,543 120,205 2,174,313 (276,139 ) 2,172,922 Stockholders' equity Stockholders' equity attributable to Oppenheimer Holdings Inc. 518,058 593,841 516,130 (1,109,971 ) 518,058 Noncontrolling interest — — 7,024 — 7,024 Total stockholders' equity 518,058 593,841 523,154 (1,109,971 ) 525,082 Total liabilities and stockholders' equity $ 672,601 $ 714,046 $ 2,697,467 $ (1,386,110 ) $ 2,698,004
Condensed Consolidating Statement of Operations	OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-guarantor Subsidiaries Eliminations Consolidated REVENUES Commissions $ — $ — $ 377,317 $ — $ 377,317 Advisory fees — 1,571 271,763 (4,215 ) 269,119 Investment banking — — 81,011 — 81,011 Interest — 10,242 47,804 (10,397 ) 47,649 Principal transactions, net — 16 20,465 — 20,481 Other — 326 62,201 (325 ) 62,202 Total revenue — 12,155 860,561 (14,937 ) 857,779 EXPENSES Compensation and related expenses 1,241 — 583,469 — 584,710 Communications and technology 124 — 70,266 — 70,390 Occupancy and equipment costs — — 61,116 (325 ) 60,791 Clearing and exchange fees — — 25,126 — 25,126 Interest 13,125 — 16,709 (10,397 ) 19,437 Other 1,887 1,284 120,261 (4,215 ) 119,217 Total expenses 16,377 1,284 876,947 (14,937 ) 879,671 Income (loss) before income taxes (16,377 ) 10,871 (16,386 ) — (21,892 ) Income taxes (8,296 ) 3,325 (7,291 ) — (12,262 ) Net income (loss) from continuing operations (8,081 ) 7,546 (9,095 ) — (9,630 ) Discontinued operations Income from discontinued operations — — 17,339 — 17,339 Income taxes — — 7,218 — 7,218 Net income from discontinued operations — — 10,121 — 10,121 Equity in earnings of subsidiaries 6,920 (626 ) — (6,294 ) — Net income (loss) (1,161 ) 6,920 1,026 (6,294 ) 491 Less net income attributable to noncontrolling interest, net of tax — — 1,652 — 1,652 Net income (loss) attributable to Oppenheimer Holdings Inc. (1,161 ) 6,920 (626 ) (6,294 ) (1,161 ) Other comprehensive income — — 220 — 220 Total comprehensive income (loss) $ (1,161 ) $ 6,920 $ (406 ) $ (6,294 ) $ (941 ) OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2015 (Expressed in thousands) Parent Guarantor Non-guarantor Eliminations Consolidated REVENUES Commissions $ — $ — $ 417,559 $ — $ 417,559 Advisory fees — 1,296 282,633 (3,682 ) 280,247 Investment banking — — 102,540 — 102,540 Interest — 10,237 49,056 (10,261 ) 49,032 Principal transactions, net — — 15,244 (64 ) 15,180 Other — 370 33,173 (300 ) 33,243 Total revenue — 11,903 900,205 (14,307 ) 897,801 EXPENSES Compensation and related expenses 1,185 — 609,635 — 610,820 Communications and technology 142 — 66,407 — 66,549 Occupancy and equipment costs — — 63,142 (300 ) 62,842 Clearing and exchange fees — — 26,022 — 26,022 Interest 13,125 — 13,465 (10,261 ) 16,329 Other 1,663 892 118,858 (3,746 ) 117,667 Total expenses 16,115 892 897,529 (14,307 ) 900,229 Income (loss) before income taxes (16,115 ) 11,011 2,676 — (2,428 ) Income taxes (6,030 ) 5,553 883 — 406 Net income (loss) from continuing operations (10,085 ) 5,458 1,793 — (2,834 ) Discontinued operations Income from discontinued operations — — 9,139 — 9,139 Income taxes — — 3,407 — 3,407 Net income from discontinued operations — — 5,732 — 5,732 Equity in earnings of subsidiaries 12,047 6,589 — (18,636 ) — Net income 1,962 12,047 7,525 (18,636 ) 2,898 Less net income attributable to noncontrolling interest, net of tax — — 936 — 936 Net income attributable to Oppenheimer Holdings Inc. 1,962 12,047 6,589 (18,636 ) 1,962 Other comprehensive income — — 17 — 17 Total comprehensive income $ 1,962 $ 12,047 $ 6,606 $ (18,636 ) $ 1,979 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2014 (Expressed in thousands) Parent Guarantor Non-guarantor Eliminations Consolidated REVENUES Commissions $ — $ — $ 469,829 $ — $ 469,829 Advisory fees — 1,139 283,785 (3,244 ) 281,680 Investment banking — — 125,598 — 125,598 Interest — 10,482 47,454 (10,431 ) 47,505 Principal transactions, net — 164 27,351 — 27,515 Other — 477 28,956 (425 ) 29,008 Total revenue — 12,262 982,973 (14,100 ) 981,135 EXPENSES Compensation and related expenses 1,047 — 653,349 — 654,396 Communications and technology 145 — 66,605 — 66,750 Occupancy and equipment costs — — 63,096 (425 ) 62,671 Clearing and exchange fees — — 24,709 — 24,709 Interest 14,401 — 12,986 (10,431 ) 16,956 Other 4,626 733 136,348 (3,244 ) 138,463 Total expenses 20,219 733 957,093 (14,100 ) 963,945 Income (loss) before income taxes (20,219 ) 11,529 25,880 — 17,190 Income taxes (7,917 ) 3,971 16,080 — 12,134 Net income (loss) from continuing operations (12,302 ) 7,558 9,800 — 5,056 Discontinued operations Income from discontinued operations — — 8,546 — 8,546 Income taxes — — 4,041 — 4,041 Net income from discontinued operations — — 4,505 — 4,505 Equity in earnings of subsidiaries 21,128 13,570 — (34,698 ) — Net income 8,826 21,128 14,305 (34,698 ) 9,561 Less net income attributable to noncontrolling interest, net of tax — — 735 — 735 Net income attributable to Oppenheimer Holdings Inc. 8,826 21,128 13,570 (34,698 ) 8,826 Other comprehensive loss — — (2,627 ) — (2,627 ) Total comprehensive income $ 8,826 $ 21,128 $ 10,943 $ (34,698 ) $ 6,199
Condensed Consolidating Statement of Cash Flows	OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2016 (Expressed in thousands) Parent Guarantor subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Cash flows from operating activities: Cash provided by (used in) operating activities $ 9,884 $ 7,698 $ (85,048 ) $ — $ (67,466 ) Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (5,731 ) — (5,731 ) Proceeds from sale of assets — — 45,448 — 45,448 Cash provided by investing activities — — 39,717 — 39,717 Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (5,887 ) — — — (5,887 ) Cash dividends paid to noncontrolling interest — — (5,740 ) — (5,740 ) Repurchase of Class A non-voting common stock for cancellation (3,935 ) — — — (3,935 ) Tax deficiency from share-based awards (740 ) — — — (740 ) Increase in bank call loans, net — — 45,600 — 45,600 Cash provided by (used in) in financing activities (10,562 ) — 39,860 — 29,298 Net increase (decrease) in cash and cash equivalents (678 ) 7,698 (5,471 ) — 1,549 Cash and cash equivalents, beginning of the year 907 2,586 59,871 — 63,364 Cash and cash equivalents, end of the year $ 229 $ 10,284 $ 54,400 $ — $ 64,913 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 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 $ 15,003 $ 1,029 $ (36,851 ) $ — $ (20,819 ) Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (5,889 ) — (5,889 ) Cash used in investing activities — — (5,889 ) — (5,889 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (6,008 ) — — — (6,008 ) Repurchase of Class A non-voting common stock for cancellation (8,250 ) — — — (8,250 ) Tax deficiency from share-based awards (277 ) — — — (277 ) Increase in bank call loans, net — — 40,800 — 40,800 Cash provided by (used in) financing activities (14,535 ) — 40,800 — 26,265 Net increase (decrease) in cash and cash equivalents 468 1,029 (1,940 ) — (443 ) Cash and cash equivalents, beginning of the year 439 1,557 61,811 — 63,807 Cash and cash equivalents, end of the year $ 907 $ 2,586 $ 59,871 $ — $ 63,364 OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 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 $ 49,595 $ (29,344 ) $ 58,064 $ — $ 78,315 Cash flows from investing activities: Purchase of furniture, equipment and leasehold improvements — — (4,398 ) — (4,398 ) Cash used in investing activities — — (4,398 ) — (4,398 ) Cash flows from financing activities: Cash dividends paid on Class A non-voting and Class B voting common stock (5,983 ) — — — (5,983 ) Issuance of Class A non-voting common stock 185 — — — 185 Tax benefit from share-based awards 1,194 — — — 1,194 Redemption of senior secured notes (45,000 ) — — — (45,000 ) Decrease in bank call loans, net — — (58,800 ) — (58,800 ) Cash used in financing activities (49,604 ) — (58,800 ) — (108,404 ) Net decrease in cash and cash equivalents (9 ) (29,344 ) (5,134 ) — (34,487 ) Cash and cash equivalents, beginning of the year 448 30,901 66,945 — 98,294 Cash and cash equivalents, end of the year $ 439 $ 1,557 $ 61,811 $ — $ 63,807

Organization - Additional Infor

Organization - Additional Information (Narrative) (Details)	Dec. 31, 2016countryofficestate
Organization And Basis Of Presentation [Line Items]
Number of foreign jurisdiction | country	5
Americas
Organization And Basis Of Presentation [Line Items]
Number of offices providing services | office	93
Number of states which operates | state	25

Summary of Significant Accoun50

Summary of Significant Accounting Policies - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	83.68%
Noncontrolling interest	$ 2,631	$ 7,024
Amortization of mortgage servicing rights period	10 years
Cash equivalents maximum maturity period of highly liquid investments	90 days
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions	1 day
Loan forgiven over service period	3 years
Minimum [Member] | Furniture, fixtures and equipment
Summary Of Significant Accounting Policies [Line Items]
Depreciation and amortization on straight-line basis	3 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions	3 days
Loan forgiven over service period	5 years
Maximum [Member] | Furniture, fixtures and equipment
Summary Of Significant Accounting Policies [Line Items]
Depreciation and amortization on straight-line basis	7 years
Securities
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions	3 days
Commodities
Summary Of Significant Accounting Policies [Line Items]
Number of business days for related transactions	1 day

Discontinued Operations (Detail

Discontinued Operations (Details) $ in Thousands	Jun. 02, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 20, 2016USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent										83.68%
Discontinued Operation, Tax Effect of Discontinued Operation										$ 7,218	$ 3,407	$ 4,041
Other Income Tax Expense (Benefit), Continuing Operations		$ (5,072)	$ (751)	$ (2,627)	$ (3,812)	$ (712)	$ (1,437)	$ 400	$ 2,155	$ (12,262)	406	12,134
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		16.32%								16.32%
Proceeds from Divestiture of Businesses										$ 45,448	0	0
Dividends paid to noncontrolling interest			5,700							5,740	$ 0	$ 0
Oppenheimer Multi Family Housing And Healthcare Finance [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Loans Insured by U.S. Department of Housing and Development	480
Disposal Group, Including Discontinued Operation, Consideration			3,800										$ 45,000
Disposal Group, Including Discontinued Operations, Consideration Withheld													$ 1,400
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	$ 14,900
Dividends paid to noncontrolling interest										$ 5,700
Business Pipeline of Mortgage Loans [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses			$ 1,400	$ 1,500

Discontinued Operations Discont

Discontinued Operations Discontinued Operations Assets and Liabilities Table (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying value of loan servicing rights	$ 0	$ 28,168	$ 30,140
Assets held for sale	5,188	99,881
Liabilities held for sale	1,217	74,680
Oppenheimer Multi Family Housing And Healthcare Finance [Member]
Cash Dividends Paid to Parent Company	29,400
Disposal Group, Including Discontinued Operation, Interest Income	943	1,999	1,739
Disposal group, Including discontinued operations, Securities Owned	3,560	562
Mortgages Held-for-sale, Fair Value Disclosure	0	60,234
Carrying value of loan servicing rights	0	28,168
Disposal Group, Including Discontinued Operation, Other Assets	1,628	10,917
Assets held for sale	5,188	99,881
Disposal Group, Including Discontinued Operation, Accounts Payable and Accrued Liabilities	1,217	64,124
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities	0	10,556
Liabilities held for sale	1,217	74,680
Disposal Group, Including Discontinued Operation, Principal Transactions	(9,022)	5,323	2,184
Disposal Group, including discontinued operations, Gain on Sale of Assets	16,475	0	0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	16,917	23,262	19,406
Disposal Group, Including Discontinued Operation, Revenue	25,313	30,584	23,329
Disposal Group, Including Discontinued Operation, Compensation and Related Expenses	4,311	12,406	10,245
Disposal Group, Including Discontinued Operation, Communications and Technology	221	361	420
Disposal Group, Including Discontinued Operation, Communications and Technology	(14,097)	3,322	6,877
Cash Provided by (Used in) Investing Activities, Discontinued Operations	45,448	0	0
Disposal Group, Including Discontinued Operation, Occupancy and Equipment	415	302	341
Disposal Group, Including Discontinued Operation, Interest Expense	408	994	845
Disposal Group, Including Discontinued Operation, Other Expense	2,619	7,382	2,932
Disposal Group, Including Discontinued Operation, Operating Expense	7,974	21,445	14,783
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)	17,339	9,139	8,546
Income (Loss) from Discontinued Operations, before tax, Attributable to Noncontrolling Interest	2,830	1,491	1,395
Cash Provided by (Used in) Financing Activities, Discontinued Operations	(35,421)	(249)	(251)
Net Cash Provided by (Used in) Discontinued Operations	$ (4,070)	$ 3,073	$ 6,626

Receivable from and Payable t53

Receivable from and Payable to Brokers, Dealers and Clearing Organizations (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Receivable from brokers, dealers and clearing organizations consist of:
Securities borrowed	$ 154,090	$ 224,672
Receivable from brokers	25,768	49,458
Securities failed to deliver	6,172	7,799
Clearing organizations	26,081	25,030
Other	2,823	58,832
Receivables from broker, dealers and clearing organizations	214,934	365,791
Payable to brokers, dealers and clearing organizations consist of:
Securities loaned	179,875	130,658
Due to Correspondent Brokers	610	3,316
Securities failed to receive	11,523	21,513
Other	29,381	9,059
Payable to brokers, dealers and clearing organizations	$ 221,389	$ 164,546

Fair Value Measurements - Secur

Fair Value Measurements - Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	$ 707,108,000	$ 734,831,000
Securities Sold	85,050,000	126,493,000
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned	710,668,000	735,393,000
U.S. treasury, agency and sovereign obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	459,051,000	509,614,000
Securities Sold	28,674,000	77,485,000
Corporate debt and other obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	17,074,000	16,138,000
Securities Sold	2,536,000	1,652,000
Mortgage and other asset-backed securities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	5,024,000	3,504,000
Securities Sold	31,000	27,000
Municipal obligations
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	56,750,000	30,132,000
Securities Sold	516,000	0
Convertible bonds
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	56,480,000	54,693,000
Securities Sold	11,604,000	5,951,000
Corporate equities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	31,174,000	34,475,000
Securities Sold	41,689,000	41,378,000
Money markets
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	189,000	35,000
Securities Sold	0	0
Auction rate securities
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	84,926,000	86,802,000
Securities Sold	0	0
Held for Sale Assets
Security Owned and Sold, Not yet Purchased, at Fair Value [Line Items]
Securities owned, including amounts pledged of $0 ($546,334 in 2015), at fair value	$ 3,600,000	$ 562,000

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 119,137,000
Valuation Adjustment	(2,995,000)
Fair Value	$ 116,142,000
Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
U S Treasury Rate	1.69%
Municipal Auction Rate Securities 01
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Spread To U S Treasury Rate	175.00%
U S Treasury Rate	1.81%
Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Spread To U S Treasury Rate	1.20%
U S Treasury Rate	2.25%
Auction Rate Securities Owned
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 88,125,000	[1]
Valuation Adjustment	(3,199,000)	[1]
Fair Value	84,926,000	[1]
Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	87,800,000	[1]
Valuation Adjustment	(3,171,000)	[1]
Fair Value	$ 84,629,000	[1]
Valuation Technique	Discounted Cash Flow	[1]
Duration	4 years	[1]
Auction Rate Securities Owned | Municipal Auction Rate Securities 01
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 25,000	[1]
Valuation Adjustment	(1,000)	[1]
Fair Value	$ 24,000	[1]
Valuation Technique	Discounted Cash Flow	[1]
Discount Rate	3.16%	[1],[2]
Duration	4 years 6 months	[1]
Fair Value Unobservable Input Current Yield	2.05%	[1],[3]
Auction Rate Securities Owned | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 300,000	[1]
Valuation Adjustment	(27,000)	[1]
Fair Value	$ 273,000	[1]
Valuation Technique	Discounted Cash Flow	[1]
Discount Rate	3.45%	[1],[4]
Duration	7 years	[1]
Fair Value Unobservable Input Current Yield	1.98%	[1],[3]
Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.16%	[2],[5]
Duration	4 years 6 months	[5]
Fair Value Unobservable Input Current Yield	2.05%	[3],[5]
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.45%	[4],[5]
Duration	7 years	[5]
Fair Value Unobservable Input Current Yield	1.98%	[3],[5]
Minimum [Member] | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Spread To U S Treasury Rate	110.00%
Minimum [Member] | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.86%	[1],[2]
Fair Value Unobservable Input Current Yield	1.18%	[1],[2]
Maximum [Member] | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Spread To U S Treasury Rate	150.00%
Maximum [Member] | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.53%	[1],[2]
Maximum [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value Unobservable Input Current Yield	1.27%	[3],[5]
Weighted Average | Auction Rate Securities Owned | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.18%	[1],[6]
Duration	4 years	[1]
Fair Value Unobservable Input Current Yield	1.23%	[1]
Weighted Average | Auction Rate Securities Owned | Municipal Auction Rate Securities 01
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.16%	[1],[2]
Duration	4 years 6 months	[1]
Fair Value Unobservable Input Current Yield	2.05%	[1],[3]
Weighted Average | Auction Rate Securities Owned | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.45%	[1],[4]
Duration	7 years	[1]
Fair Value Unobservable Input Current Yield	1.98%	[1],[3]
Weighted Average | Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.16%	[2],[5]
Duration	4 years 6 months	[5]
Fair Value Unobservable Input Current Yield	2.05%	[3],[5]
Weighted Average | Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	3.45%	[4],[5]
Duration	7 years	[5]
Fair Value Unobservable Input Current Yield	1.98%	[3],[5]
Auction Rate Securities Purchase Commitment
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 31,012,000	[1]
Valuation Adjustment	(204,000)	[1]
Fair Value	31,216,000	[1]
Auction Rate Securities Purchase Commitment | Municipal Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	2,000	[5]
Valuation Adjustment	0	[5]
Fair Value	$ 2,000	[5]
Valuation Technique	Discounted Cash Flow	[5]
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 27,000	[5]
Valuation Adjustment	(2,000)	[5]
Fair Value	$ 25,000	[5]
Valuation Technique	Discounted Cash Flow	[5]
Other Assets | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Duration	4 years	[5]
Other Assets | Minimum [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.86%	[1],[2]
Fair Value Unobservable Input Current Yield	1.18%	[1],[2]
Other Assets | Maximum [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.53%	[1],[2]
Fair Value Unobservable Input Current Yield	1.27%	[3],[5]
Other Assets | Weighted Average | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.18%	[5],[6]
Duration	4 years	[5]
Fair Value Unobservable Input Current Yield	1.23%	[3],[5]
Other Assets | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 6,654,000	[5]
Valuation Adjustment	(849,000)	[5]
Fair Value	$ 7,503,000	[5]
Valuation Technique	Discounted Cash Flow	[5]
Accounts Payable and Other Liabilities [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Duration	4 years	[5]
Accounts Payable and Other Liabilities [Member] | Minimum [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.86%	[1],[2]
Fair Value Unobservable Input Current Yield	1.18%	[1],[2]
Accounts Payable and Other Liabilities [Member] | Maximum [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.53%	[1],[2]
Fair Value Unobservable Input Current Yield	1.27%	[3],[5]
Accounts Payable and Other Liabilities [Member] | Weighted Average | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	2.18%	[5],[6]
Duration	4 years	[5]
Fair Value Unobservable Input Current Yield	1.23%	[3],[5]
Accounts Payable and Other Liabilities [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Principal	$ 24,329,000	[5]
Valuation Adjustment	(643,000)	[5]
Fair Value	$ 23,686,000	[5]
Valuation Technique	Discounted Cash Flow	[5]
[1]	Principal amount represents the par value of the ARS and is included in securities owned on the consolidated balance sheet as of December 31, 2016. The valuation adjustment amount is included as a reduction to securities owned on the consolidated balance sheet as of December 31, 2016.
[2]	Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.81%.
[3]	Based on current yields for ARS positions owned.
[4]	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.25%.
[5]	Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amounts, unrealized gains and losses, are included in other assets and accounts payable and other liabilities, respectively, on the consolidated balance sheet as of December 31, 2016.
[6]	Derived by applying a multiple to the spread between 110% to 150% to the U.S. Treasury rate of 1.69%.

Fair Value Measurements - Inves

Fair Value Measurements - Investments in Company-Sponsored Funds (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Investment Holdings [Line Items]
Fair Value	$ 6,848,000
Unfunded Commitments	1,251,000
Hedge Funds [Member]
Investment Holdings [Line Items]
Fair Value	2,423,000	[1]
Unfunded Commitments	$ 0	[1]
Redemption Frequency	Quarterly - Annually	[1]
Private Equity Funds
Investment Holdings [Line Items]
Investments Lock In Period	10 years
Fair Value	$ 4,425,000	[2]
Unfunded Commitments	1,251,000	[2]
Auction rate securities
Investment Holdings [Line Items]
Assets and liabilities transferred from level one and level two	$ 0
[1]	Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. Each hedge fund has various restrictions regarding redemption; no investment is locked-up for a period greater than one year.
[2]	Includes private equity funds and private equity fund of funds with a focus on diversified portfolios, real estate and global natural resources. Due to the illiquid nature of these funds, investors are not permitted to make withdrawals without the consent of the general partner. The lock-up period of the private equity funds can extend to 10 years.

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2016		Dec. 31, 2015
ASSETS
Cash equivalents	$ 16,242		$ 13,000
Deposits with clearing organizations	26,437		31,456
Securities owned
Securities owned, at fair value	707,108		734,831
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned	710,668		735,393
Investments	6,848
Loans held for sale			60,234
Securities purchased under agreements to resell	24,006	[1]	206,499	[2]
Derivative contracts
Derivative contracts, total	1,663		15,609
Total	779,174		1,062,348
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	85,050		126,493
Derivative contracts:
Derivative contracts	2,024		14,162
Total	87,074		140,655
Futures
Derivative contracts:
Derivative contracts	166
Foreign exchange forward contracts
Derivative contracts:
Derivative contracts	1		2
Eurodollar Future [Member]
Derivative contracts:
TBAs			11,619
TBAs
Derivative contracts
Derivative contracts, total	814		6,448
Derivative contracts:
Derivative contracts			249
TBAs	1,212
Interest Rate Lock Commitments [Member]
Derivative contracts
Derivative contracts, total			9,161
Derivative contracts:
Derivative contracts			923
ARS purchase commitments
Derivative contracts
Derivative contracts, total	849
Derivative contracts:
Derivative contracts	645		1,369
Investments
Securities owned
Investments	158	[3]	157	[4]
Corporate equities
Securities owned
Securities owned, at fair value	31,174		34,475
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	41,689		41,378
Money markets
Securities owned
Securities owned, at fair value	189		35
Auction rate securities
Securities owned
Securities owned, at fair value	84,926		86,802
U.S. Treasury securities (1)
Securities owned
Securities owned, at fair value	418,888		436,533
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	28,662		75,653
U.S. Agency securities
Securities owned
Securities owned, at fair value	38,269		71,416
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	12		15
Sovereign obligations
Securities owned
Securities owned, at fair value	1,894		1,665
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value			1,817
Corporate debt and other obligations
Securities owned
Securities owned, at fair value	17,074		16,138
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	2,536		1,652
Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	5,024		3,504
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	31		27
Municipal obligations
Securities owned
Securities owned, at fair value	56,750		30,132
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	516		0
Convertible bonds
Securities owned
Securities owned, at fair value	56,480		54,693
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	11,604		5,951
Level 1
ASSETS
Cash equivalents	16,242		13,000
Deposits with clearing organizations	26,437		31,456
Securities owned
Securities owned, at fair value	456,129		496,283
Derivative contracts
Total	498,808		540,739
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	70,351		117,031
Derivative contracts:
Derivative contracts	167		251
Total	70,518		117,282
Level 1 | Futures
Derivative contracts:
Derivative contracts	166
Level 1 | Foreign exchange forward contracts
Derivative contracts:
Derivative contracts	1		2
Level 1 | TBAs
Derivative contracts:
Derivative contracts			249
Level 1 | Corporate equities
Securities owned
Securities owned, at fair value	31,174		34,475
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	41,689		41,378
Level 1 | Money markets
Securities owned
Securities owned, at fair value	189		35
Level 1 | U.S. Treasury securities (1)
Securities owned
Securities owned, at fair value	418,888		436,533
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	28,662		75,653
Level 1 | U.S. Agency securities
Securities owned
Securities owned, at fair value	5,878		25,240
Level 2
ASSETS
Cash equivalents	0
Deposits with clearing organizations	0
Securities owned
Securities owned, at fair value	169,569		152,227
Loans held for sale			60,234
Securities purchased under agreements to resell	24,006	[1]	206,499	[2]
Derivative contracts
Derivative contracts, total	814		6,448
Total	194,389		425,408
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	14,699		9,462
Derivative contracts:
Derivative contracts	1,212		11,619
Total	15,911		21,081
Level 2 | Eurodollar Future [Member]
Derivative contracts:
TBAs			11,619
Level 2 | TBAs
Derivative contracts
Derivative contracts, total	814		6,448
Derivative contracts:
TBAs	1,212
Level 2 | U.S. Agency securities
Securities owned
Securities owned, at fair value	32,391		46,176
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	12		15
Level 2 | Sovereign obligations
Securities owned
Securities owned, at fair value	1,894		1,665
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value			1,817
Level 2 | Corporate debt and other obligations
Securities owned
Securities owned, at fair value	17,074		16,138
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	2,536		1,652
Level 2 | Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	5,024		3,504
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	31		27
Level 2 | Municipal obligations
Securities owned
Securities owned, at fair value	56,706		30,051
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	516
Level 2 | Convertible bonds
Securities owned
Securities owned, at fair value	56,480		54,693
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	11,604		5,951
Level 3
ASSETS
Cash equivalents	0
Securities owned
Securities owned, at fair value	84,970		86,883
Derivative contracts
Derivative contracts, total	849		9,161
Total	85,977		96,201
Derivative contracts:
Derivative contracts	645		2,292
Total	645		2,292
Level 3 | Interest Rate Lock Commitments [Member]
Derivative contracts
Derivative contracts, total			9,161
Derivative contracts:
Derivative contracts			923
Level 3 | ARS purchase commitments
Derivative contracts
Derivative contracts, total	849
Derivative contracts:
Derivative contracts	645		1,369
Level 3 | Investments
Securities owned
Investments	158	[3]	157	[4]
Level 3 | Auction rate securities
Securities owned
Securities owned, at fair value	84,926		86,802
Level 3 | Municipal obligations
Securities owned
Securities owned, at fair value	$ 44		$ 81
[1]	.
[2]	n
[3]	.
[4]	n

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015
Interest Rate Lock Commitments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance		$ 9,161	[1],[2]	$ 7,576
Total Realized and Unrealized Gains (Losses), Assets		4,345	[2],[3],[4]	1,585	[5],[6]
Purchases and Issuances	[2],[7]	0
Sales and Settlements	[2]	(13,506)
Transfers In (Out)	[2]	0
Assets Ending Balance	[2]	0		9,161	[1]
Liabilities Beginning Balance		923		1,222
Total Realized and Unrealized Gains (Loss), Liabilities		923	[4],[8]	299
Liabilities Ending Balance		0		923
Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	[1]	157	[9]	193
Total Realized and Unrealized Gains (Losses), Assets		1	[3],[4],[9]	(36)	[1],[5],[6]
Purchases and Issuances		0	[7],[9]	0	[1],[10]
Sales and Settlements		0	[9]	0	[1]
Transfers In (Out)		0	[9]	0	[1]
Assets Ending Balance	[9]	158		157	[1]
Auction Rate Securities Purchase Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	[9]	0
Total Realized and Unrealized Gains (Losses), Assets	[3],[4],[9]	849
Purchases and Issuances	[7],[9]	0
Sales and Settlements	[9]	0
Transfers In (Out)	[9]	0
Assets Ending Balance	[9]	849		0
Auction rate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance	[11],[12]	86,802	[13],[14]	91,422
Total Realized and Unrealized Gains (Losses), Assets		1,974	[3],[4],[13],[14]	1,955	[5],[6],[11],[12]
Purchases and Issuances		13,775	[7],[13],[14]	17,950	[10],[11],[12]
Sales and Settlements		(17,625)	[13],[14]	(24,525)	[11],[12]
Transfers In (Out)	[13],[14]	0
Assets Ending Balance	[13],[14]	84,926		86,802	[11],[12]
Auction Rate Securities Purchase Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities Beginning Balance	[15]	1,369	[8]	902
Total Realized and Unrealized Gains (Loss), Liabilities	[4],[8],[9]	724		(467)
Liabilities Ending Balance	[8]	645		1,369	[15]
Municipal obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Beginning Balance		81		164
Total Realized and Unrealized Gains (Losses), Assets		25	[3],[4]	(63)	[5],[6]
Purchases and Issuances	[7]	0
Sales and Settlements		(62)		(20)
Transfers In (Out)		0
Assets Ending Balance		$ 44		$ 81
[1]	d
[2]	s
[3]	s
[4]	s
[5]	d
[6]	d
[7]	s
[8]	s
[9]	s
[10]	d
[11]	d
[12]	d
[13]	s
[14]	s
[15]	d

Fair Value Measurements - Ass59

Fair Value Measurements - Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Dec. 31, 2016		Dec. 31, 2015
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Securities Owned and Sold, Not yet Purchased, at Fair Value, Security Owned, Including Disposal Group Securities Owned		$ 710,668		$ 735,393
Fair value of the reverse repurchase agreements		24,006	[1]	206,499	[2]
Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash		48,671		50,364
Deposits with clearing organization		11,748		18,034
Securities borrowed		154,090		224,672
Receivables from brokers		25,768		49,458
Securities failed to deliver		6,172		7,799
Clearing organizations		26,081		25,030
Other		2,823		58,832
Total Receivable from brokers, dealers and clearing organizations		214,934		365,791
Receivable from customers		847,386		840,355
Fair Value Estimate Not Practicable Mortgage Servicing Rights				41,838
Drafts payable		39,228		48,011
Bank call loans		145,800		100,200
Securities loaned		179,875		130,658
Fair Value Estimate Not Practicable Payable to Correspondent Brokers		610		3,316
Securities failed to receive		11,523		21,513
Other		29,381		9,059
Total payables to brokers, dealers and clearing organizations		221,389		164,546
Payables to customers		449,946		594,833
Securities sold under agreements to repurchase		378,084		651,445
Warehouse payable	[3]			54,341
Senior secured notes		151,782		154,568
Fair Value, Estimate Not Practicable, Investments		56,300		53,286
Level 1 | Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash		48,671		50,364
Deposits with clearing organization		11,748		18,034
Drafts payable		39,228		48,011
Level 2
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Fair value of the reverse repurchase agreements		24,006	[1]	206,499	[2]
Level 2 | Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Securities borrowed		154,090		224,672
Receivables from brokers		25,768		49,458
Securities failed to deliver		6,172		7,799
Clearing organizations		26,081		25,030
Other		2,823		58,832
Total Receivable from brokers, dealers and clearing organizations		214,934		365,791
Receivable from customers		847,386		840,355
Bank call loans		145,800		100,200
Securities loaned		179,875		130,658
Fair Value Estimate Not Practicable Payable to Correspondent Brokers		610		3,316
Securities failed to receive		11,523		21,513
Other		29,381		9,059
Total payables to brokers, dealers and clearing organizations		221,389		164,546
Payables to customers		449,946		594,833
Securities sold under agreements to repurchase		378,084		651,445
Warehouse payable	[3]			54,341
Senior secured notes		151,782		154,568
Fair Value, Estimate Not Practicable, Investments		56,300		53,286
Level 3 | Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Fair Value Estimate Not Practicable Mortgage Servicing Rights				41,838
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Fair Value, Estimate Not Practicable, Investments		56,300		53,286
Carrying Value | Fair Value, Measurements, Nonrecurring [Member]
Financial Instruments Not Measured at Fair Value on Recurring Basis [Line items]
Cash		48,671		50,364
Deposits with clearing organization		11,748		18,034
Securities borrowed		154,090		224,672
Receivables from brokers		25,768		49,458
Securities failed to deliver		6,172		7,799
Clearing organizations		26,081		25,030
Other		2,823		58,832
Total Receivable from brokers, dealers and clearing organizations		214,934		365,791
Receivable from customers		847,386		840,355
Fair Value Estimate Not Practicable Mortgage Servicing Rights				28,168
Drafts payable		39,228		48,011
Bank call loans		145,800		100,200
Securities loaned		179,875		130,658
Fair Value Estimate Not Practicable Payable to Correspondent Brokers		610		3,316
Securities failed to receive		11,523		21,513
Other		29,381		9,059
Total payables to brokers, dealers and clearing organizations		221,389		164,546
Payables to customers		449,946		594,833
Securities sold under agreements to repurchase		378,084		651,445
Warehouse payable	[3]			54,341
Senior secured notes		150,000		150,000
Fair Value, Estimate Not Practicable, Investments		$ 56,300		$ 53,286
[1]	.
[2]	n
[3]	.

Fair Value Measurements - Notio

Fair Value Measurements - Notional Amounts and Fair Values of Derivatives by Product (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands		Dec. 31, 2016		Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional		$ 297,727	[1]	$ 323,108	[2]
Derivatives asset, Fair Value		1,663	[1]	15,609	[2]
Derivative liability, notional		4,756,631	[1]	3,268,047	[2]
Derivative liability, Fair Value		2,024	[1]	14,162	[2]
Other Contracts | TBA
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional		169,500	[1]	35,650	[2]
Derivatives asset, Fair Value		332	[1]	4	[2]
Derivative liability, notional		169,500	[1]	24,350	[2]
Derivative liability, Fair Value		289	[1]	5	[2]
Other Contracts | TBA Sale Agreements
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional		121,573	[1]	83,810	[2]
Derivatives asset, Fair Value		482	[1]	6,444	[2]
Derivative liability, notional	[1]			223,846
Derivative liability, Fair Value	[1]			11,614
Other Contracts | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional	[1]	200		400
Derivative liability, Fair Value	[1]	1		2
Other Contracts | Auction Rate Securities Purchase Commitment
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	[1]	6,654
Derivatives asset, Fair Value	[1]	849
Derivative liability, notional		24,358	[1]	27,813	[2]
Derivative liability, Fair Value		645	[1]	1,369	[2]
Other Contracts | TBA Purchase Agreements [Member] [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, notional	[1]	121,573
Derivative liability, Fair Value	[1]	923
Other Contracts | Forward Start Repurchase Agreement [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, notional	[1]	382,000
Derivative liability, Fair Value	[1]	0
Other Contracts | Interest Rate Lock Commitments [Member]
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	[2]			203,648
Derivatives asset, Fair Value	[2]			9,161
Derivative liability, notional	[2]			48,638
Derivative liability, Fair Value	[2]			923
Commodity Contracts | Futures
Derivatives, Fair Value [Line Items]
Derivative liability, notional		4,059,000	[1],[3]	2,943,000	[2],[4]
Derivative liability, Fair Value		$ 166	[1],[3]	$ 249	[2],[4]
[1]	)See "Derivative Instruments and Hedging Activities" above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offse
[2]	)See "Derivative Instruments and Hedging Activities" above for description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offse
[3]	e
[4]	For the year ended December 31, 2016, the diluted earnings per share computation does not include the anti-dilutive effect of 1,237,134 shares of Class A Stock granted under share-based compensation arrangements (1,269,585 and 43,008 shares for the years ended December 31, 2015 and 2014, respectively).(2)Represents net income from discontinued operations less net income attributable to noncontrolling interest, net of tax divided by weighted average number of shares outstanding.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ (1,531)	$ 401
Commodity Contracts | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(702)	(1,472)
Other Contracts | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	43	(9)
Other Contracts | Other | TBA Sale Agreements
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(8,650)	440
Other Contracts | Other | TBA Purchase Agreements [Member] [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	924
Other Contracts | Other | Interest Rate Lock Commitments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	5,268	1,884
Other Contracts | Other | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	13	25
Other Contracts | Auction Rate Securities Purchase Commitment | Principal Transaction Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ 1,573
Other Contracts | Auction Rate Securities Purchase Commitment | Other
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)		$ (467)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Narrative) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value		$ 707,108,000		$ 734,831,000
Valuation adjustment (unrealized loss) for ARS		(2,995,000)
Loan position held in secondary loan trading portfolio		0		0
Fair value of the reverse repurchase agreements		24,006,000	[1]	206,499,000	[2]
Fair value of the repurchase agreements		$ 0
Loans held for sale period		60 days
Fair value of loan held for sale				60,234,000
Forward or delayed delivery of the underlying instrument with settlement		180 days
Purchase Commitments Outstanding, Auction Rate Securities Related to Settlements with Regulators		$ 5,000,000
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value		84,926,000		86,802,000
Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[3]	$ (3,199,000)
Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate		8.75%
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets and liabilities transferred from level one and level two		$ 0
Total amount of ARS the firm purchased and hold		88,100,000
Amount of ARS committed to purchase from clients		$ 26,000,000
Auction rate securities | Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitment to purchase ARS period maximum		2,020
Hedge Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment Redemption Notice Period Minimum		30 days
Investment Redemption Notice Period Maximum		120 days
Private Equity Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments Lock In Period		10 years
Auction Rate Preferred Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U S Treasury Rate		1.69%
Auction Rate Preferred Securities | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[3]	$ (3,171,000)
Auction Rate Preferred Securities | Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate		110.00%
Auction Rate Preferred Securities | Minimum [Member] | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	1.86%
Fair Value Unobservable Input Current Yield	[3],[4]	1.18%
Auction Rate Preferred Securities | Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate		150.00%
Auction Rate Preferred Securities | Maximum [Member] | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Unobservable Input Current Yield	[5],[6]	1.27%
Auction Rate Preferred Securities | Maximum [Member] | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	2.53%
Student Loan Auction Rate Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Spread To U S Treasury Rate		1.20%
U S Treasury Rate		2.25%
Student Loan Auction Rate Securities | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[6],[7]	3.45%
Fair Value Unobservable Input Current Yield	[5],[6]	1.98%
Student Loan Auction Rate Securities | Auction Rate Securities Owned
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[7]	3.45%
Valuation adjustment (unrealized loss) for ARS	[3]	$ (27,000)
Fair Value Unobservable Input Current Yield	[3],[5]	1.98%
Mortgage Servicing Rights [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate		12.00%
Continuous prepayment rate used up to loans prepayment penalty rate hit 4%		0.00%
Continuous prepayment rate		4.00%
Continuous prepayment rate vast majority range minimum		10.00%
Continuous prepayment rate vast majority range maximum		15.00%
Continuous Prepayment Rate Used After Specified Loans Prepayment Penalty Rate Average		12.00%
Estimated future cost to service loans on an annual basis per loan, average		$ 1,250
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits [Member] | Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value		14,300,000		$ 14,000,000
Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[3]	(204,000)
Auction Rate Securities Purchase Commitment | Student Loan Auction Rate Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[6]	$ (2,000)
Fair Value, Valuation Scenario One [Member] | Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Basis point		25.00%
Decrease in fair value of ARS		$ 1,100,000
Fair Value, Valuation Scenario Two | Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Basis point		50.00%
Decrease in fair value of ARS		$ 2,200,000
Other Assets | Auction Rate Preferred Securities | Minimum [Member] | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	1.86%
Fair Value Unobservable Input Current Yield	[3],[4]	1.18%
Other Assets | Auction Rate Preferred Securities | Maximum [Member] | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	2.53%
Fair Value Unobservable Input Current Yield	[5],[6]	1.27%
Other Assets | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[6]	$ (849,000)
Accounts Payable and Other Liabilities [Member] | Auction Rate Preferred Securities | Minimum [Member] | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	1.86%
Fair Value Unobservable Input Current Yield	[3],[4]	1.18%
Accounts Payable and Other Liabilities [Member] | Auction Rate Preferred Securities | Maximum [Member] | Auction Rate Securities Purchase Commitment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Permanent and construction loans , discount rate	[3],[4]	2.53%
Fair Value Unobservable Input Current Yield	[5],[6]	1.27%
Accounts Payable and Other Liabilities [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[6]	$ (643,000)
Accounts Payable and Other Liabilities [Member] | Auction Rate Securities Purchase Commitment | Auction Rate Preferred Securities and Student Loan Auction Rate Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Valuation adjustment (unrealized loss) for ARS	[6]	$ (645,000)
[1]	.
[2]	n
[3]	Principal amount represents the par value of the ARS and is included in securities owned on the consolidated balance sheet as of December 31, 2016. The valuation adjustment amount is included as a reduction to securities owned on the consolidated balance sheet as of December 31, 2016.
[4]	Derived by applying a multiple to the spread of 175% to the U.S. Treasury rate of 1.81%.
[5]	Based on current yields for ARS positions owned.
[6]	Principal amount represents the present value of the ARS par value that the Company is committed to purchase at a future date. This principal amount is presented as an off-balance sheet item. The valuation adjustment amounts, unrealized gains and losses, are included in other assets and accounts payable and other liabilities, respectively, on the consolidated balance sheet as of December 31, 2016.
[7]	Derived by applying the sum of the spread of 1.20% to the U.S. Treasury rate of 2.25%.

Collateralized Transactions - S

Collateralized Transactions - Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions (Details) - USD ($) $ in Thousands	Dec. 31, 2016		Dec. 31, 2015
Reverse repurchase agreements
Gross Amounts of Recognized Assets	$ 24,006		$ 282,042
Gross Amounts Offset on the Balance Sheet	0		(75,543)
Net Amounts of Assets Presented on the Balance Sheet	24,006		206,499
Financial Instruments	(23,972)		(203,266)
Cash Collateral Received	0		0
Net Amount	34		3,233
Securities borrowed
Gross Amounts of Recognized Assets	154,090	[1]	224,672	[2]
Gross Amounts Offset on the Balance Sheet	0	[1]	0	[2]
Net Amounts of Assets Presented on the Balance Sheet	154,090	[1]	224,672	[2]
Financial Instruments	(150,510)	[1]	(219,099)	[2]
Cash Collateral Received	0	[1]	0	[2]
Net Amount	3,580	[1]	5,573	[2]
Total
Gross Amounts of Recognized Assets	178,096		506,714
Gross Amounts Offset on the Balance Sheet	0		(75,543)
Net Amounts of Assets Presented on the Balance Sheet	178,096		431,171
Financial Instruments	(174,482)		(422,365)
Cash Collateral Received	0		0
Net Amount	3,614		8,806
Repurchase agreements
Gross Amounts of Recognized Liabilities	378,084		726,988
Gross Amounts Offset on the Balance Sheet	0		(75,543)
Net Amounts of Liabilities Presented on the Balance Sheet	378,084		651,445
Financial Instruments	(376,273)		(645,498)
Cash Collateral Pledged	0		0
Net Amount	1,811		5,947
Securities loaned
Gross Amounts of Recognized Liabilities	179,875	[3]	130,658	[4]
Gross Amounts Offset on the Balance Sheet	0	[3]	0	[4]
Net Amounts of Liabilities Presented on the Balance Sheet	179,875	[3]	130,658	[4]
Financial Instruments	(171,991)	[3]	(122,650)	[4]
Cash Collateral Pledged	0	[3]	0	[4]
Net Amount	7,884	[3]	8,008	[4]
Total
Gross Amounts of Recognized Liabilities	557,959		857,646
Gross Amounts Offset on the Balance Sheet	0		(75,543)
Net Amounts of Liabilities Presented on the Balance Sheet	557,959		782,103
Financial Instruments	(548,264)		(768,148)
Cash Collateral Pledged	0		0
Net Amount	$ 9,695		$ 13,955
[1]	Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet.
[2]	Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet.
[3]	Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.
[4]	Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.

Collateralized Transactions - A

Collateralized Transactions - Additional Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)dealer		Dec. 31, 2015USD ($)		Dec. 31, 2014USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings	The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of December 31, 2016 : (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Treasury and Agency securities $ 378,084 Securities loaned: Equity securities 179,875 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 557,959
Bank call loans	$ 145,800,000		$ 100,200,000
Customer securities under customer margin loans available to be pledged	1,200,000,000
Customer securities under customer margin loans agreement available to be repledged	136,200,000
Customer securities deposited to secure obligations and margin requirements under option contracts	284,000,000
Outstanding letters of credit	0
Fair value of the reverse repurchase agreements	24,006,000	[1]	206,499,000	[2]
Fair value of the repurchase agreements	0
Amounts pledged	438,385,000		546,334,000
Carrying value of securities owned by the Company loaned or pledged	$ 138,600,000		142,700,000
Number of broker-dealers | dealer	2
Receivable from brokers and clearing organizations	$ 55,000,000
Loans to Citizens	$ 0
Credit Concentration Risk
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Guaranteed mortgages for a period	15 days
Interest expense	$ 387,000		928,500		$ 570,700
Warehouse Facility | Credit Concentration Risk
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Outstanding under the warehouse facility line	0		54,300,000
Reverse Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged	24,000,000		278,800,000
Securities received as collateral under securities borrowed transaction with market value	24,000,000		278,800,000
Securities Borrowed Transactions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Customer securities under customer margin loans agreement available to be repledged	37,400,000		36,000,000
Securities received as collateral under securities borrowed transaction with market value	148,700,000		$ 217,000,000
Corporate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loans, collateralized by firm	138,600,000
Other Than Corporate Customer
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Collateralized loans, collateralized by customer securities	288,100,000
Maturity Overnight and on Demand [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Loaned and Securities Sold under Agreement to Repurchase, Gross Including Not Subject to Master Netting Arrangement	557,959,000
U.S. treasury, agency and sovereign obligations | Maturity Overnight and on Demand [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement	378,084,000
Equity Securities [Member] | Maturity Overnight and on Demand [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities Loaned, Including Not Subject to Master Netting Arrangement and Assets other than Securities Transferred	$ 179,875,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions	1 day
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions	3 days
Mortgage Servicing Rights [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Continuous Prepayment Rate Used After Specified Loans Prepayment Penalty Rate Average	12.00%
Estimated future cost to service loans on an annual basis per loan, average	$ 1,250
[1]	.
[2]	n

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2016		Dec. 31, 2015
Variable Interest Entity [Line Items]
Total VIE Assets	$ 323,107	[1]	$ 1,830,303	[2]
Carrying Value of Variable Interest Assets	721	[3]	1,381	[4]
Capital Commitments	2		2
Maximum Exposure to Loss in Non- consolidated VIEs	723		1,383
Hedge Funds [Member]
Variable Interest Entity [Line Items]
Total VIE Assets	296,807	[1]	1,775,503	[2]
Carrying Value of Variable Interest Assets	706	[3]	1,354	[4]
Carrying Value of Variable Interest Liabilities	0		0
Capital Commitments	0		0
Maximum Exposure to Loss in Non- consolidated VIEs	706		1,354
Private Equity Funds
Variable Interest Entity [Line Items]
Total VIE Assets	26,300	[1]	54,800	[2]
Carrying Value of Variable Interest Assets	15	[3]	27	[4]
Carrying Value of Variable Interest Liabilities	0		0
Capital Commitments	2		2
Maximum Exposure to Loss in Non- consolidated VIEs	$ 17		$ 29
[1]	Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs.
[2]	Represents the total assets of the VIEs and does not represent the Company's interests in the VIEs.
[3]	Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet.
[4]	Represents the Company's interests in the VIEs and is included in other assets on the consolidated balance sheet.

Commercial Mortgage Banking - U

Commercial Mortgage Banking - Unpaid Principal Balance of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Transfers and Servicing [Abstract]
Unpaid principal balance of loans	$ 0	$ 3,974,292

Commercial Mortgage Banking - S

Commercial Mortgage Banking - Summary of Changes in Carrying Value of Mortgage Servicing Rights (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance at beginning of year		$ 28,168	$ 30,140
Originations	[1]	2,575	6,569
Purchases		478	799
Disposals	[1]	(1,753)	(8,613)
Servicing Asset at Amortized Cost, Write-off Related to Sale of Asset		(28,182)	0
Amortization expense		(1,286)	(727)
Balance at end of year		$ 0	$ 28,168
[1]	Includes refinancings

Commercial Mortgage Banking - C

Commercial Mortgage Banking - Components of Mortgage Servicing Rights Fees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Transfers and Servicing [Abstract]
Servicing fees	$ 3,249	$ 5,848	$ 5,552
Ancillary fees	162	310	328
Total MSR fees	$ 3,411	$ 6,158	$ 5,880

Commercial Mortgage Banking - A

Commercial Mortgage Banking - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Servicing Liability at Amortized Cost [Line Items]
Prepayment costs	$ 6,500	$ 25,700	$ 9,800
Custodial escrow accounts	0	421,500
Uninsured balance relation to escrow accounts	0
Carrying value of loan servicing rights	0	28,168	$ 30,140
Mortgage Servicing Rights [Member]
Servicing Liability at Amortized Cost [Line Items]
Fair value of servicing rights	0	41,800
Carrying value of loan servicing rights	$ 0	$ 28,200

Office Facilities - Summary of

Office Facilities - Summary of Office Facilities Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation and amortization of furniture, equipment and leasehold improvements	$ 6,788	$ 7,188	$ 7,748
Office facilities, gross	111,306	133,097
Less accumulated depreciation	(84,073)	(104,812)
Total	27,233	28,285
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Office facilities, gross	55,210	75,704
Leasehold improvements
Property, Plant and Equipment [Line Items]
Office facilities, gross	$ 56,096	$ 57,393

Office Facilities - Additional

Office Facilities - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 6,788	$ 7,188	$ 7,748

Bank Call Loans - Additional In

Bank Call Loans - Additional Information (Narrative) (Details) - USD ($) number in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Bank Call Loans [Abstract]
Broker call rate	0.00%	0.00%
Interest expense on bank call loans	$ 1.7	$ 1.5	$ 1.4

Bank Call Loans - Summary of Ba

Bank Call Loans - Summary of Bank Call Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Bank Call Loans [Abstract]
Year-end balance	$ 145,800	$ 100,200
Weighted interest rate (at end of year)	1.77%	1.56%
Maximum balance (at any month-end)	$ 151,900	$ 189,000
Average amount outstanding (during the year)	$ 106,455	$ 116,267
Average interest rate (during the year)	1.52%	1.28%

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 150,000	$ 150,000
Unamortized debt issuance expense	(648)	(1,132)
Long-term Debt	$ 149,352	$ 148,868
Senior Secured Notes
Debt Instrument [Line Items]
Maturity Date	Apr. 15, 2018

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Narrative) (Details) - USD ($)	Apr. 15, 2014	Apr. 12, 2011	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt Instrument, proceeds from sale of Asset Limit or Repurchase offer given			$ 15,000,000
Senior Secured Notes
Debt Instrument [Line Items]
Interest rate			8.75%
Extinguishment of Debt, Amount	$ 50,000,000
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	25.00%
Interest expense on note			$ 13,100,000	$ 13,100,000	$ 14,300,000
Interest paid on notes			$ 13,100,000	$ 0
Private Placement | Senior Secured Notes
Debt Instrument [Line Items]
Private placement date		Apr. 12, 2011
Issuance of private placement, principal amount		$ 200,000,000
Interest rate		8.75%
Term of payments of interest on notes			semi-annually

Share Capital - Changes in Numb

Share Capital - Changes in Number of Shares of Class A Stock Outstanding (Details) - Class A Stock - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Class A Stock outstanding, beginning of year	13,238,486	13,530,688
Issued pursuant to shared-based compensation plans	283,471	131,524
Repurchased and canceled pursuant to the stock buy-back	(260,862)	(423,726)
Class A Stock outstanding, end of year	13,261,095	13,238,486

Share Capital - Additional Info

Share Capital - Additional Information (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended			39 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2014	Sep. 15, 2015	Oct. 07, 2011
Class of Stock [Line Items]
Amounts pledged	$ 438,385				$ 546,334				$ 438,385	$ 546,334
Preferred stock, authorized	50,000,000								50,000,000
Preferred stock, par value	$ 0.001								$ 0.001
Preferred stock, issued	0								0
Dividends per share	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.11	$ 0.44	$ 0.44
Class A Stock
Class of Stock [Line Items]
Common stock, authorized	50,000,000				50,000,000				50,000,000	50,000,000
Common stock, par value	$ 0.001				$ 0.001				$ 0.001	$ 0.001
Common Stock, outstanding	13,261,095				13,238,486				13,261,095	13,238,486	13,530,688	13,530,688	13,348,369
Common Stock, Shares, Issued	13,261,095				13,238,486				13,261,095	13,238,486
Repurchase and cancelled stock									260,862	423,726
Dividends per share									$ 0.44	$ 0.44	$ 0.44
Class B Stock
Class of Stock [Line Items]
Common stock, authorized	99,665				99,680				99,665	99,680
Common stock, par value	$ 0.001				$ 0.001				$ 0.001	$ 0.001
Common Stock, outstanding	99,665				99,680				99,665	99,680
Common Stock, Shares, Issued	99,665				99,680				99,665	99,680
Dividends per share									$ 0.44	$ 0.44	$ 0.44
Previous Program [Member] | Class A Stock
Class of Stock [Line Items]
Repurchase of class A common stock														675,000
Stock Repurchased and Retired During Period, Shares										328,844		322,177
Stock Repurchased and Retired During Period, Value										$ 6,600
Stock Repurchased and Retired During Period, Per Share										$ 20.12
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased					23,979					23,979
New Program [Member] | Class A Stock
Class of Stock [Line Items]
Repurchase of class A common stock													665,000
Stock Repurchase Program Percentage Of Shares Repurchase Of Outstanding Share													5.00%
Stock Repurchased and Retired During Period, Shares									260,862
Stock Repurchased and Retired During Period, Value									$ 3,900
Stock Repurchased and Retired During Period, Per Share									$ 15.09
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	309,256								309,256
Common Stock, Shares, Issued													13,348,369

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding										13,368,768	13,640,610	13,604,258
Net dilutive effect of share-based awards, treasury method	[1]									0	0	646,405
Diluted weighted average number of shares outstanding										13,368,768	13,640,610	14,250,663
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest		$ (2,424)	$ (1,059)	$ (2,619)	$ (3,528)	$ (3,856)	$ (1,136)	$ (1,501)	$ 3,659	$ (9,630)	$ (2,834)	$ 5,056
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest		759	413	9,330	(381)	765	359	2,146	2,462	10,121	5,732	4,505
Net income		(1,665)	(646)	6,711	(3,909)	(3,091)	(777)	645	6,121	491	2,898	9,561
Net income attributable to non-controlling interest, net of tax		125	66	1,523	(62)	53	131	350	402	1,652	936	735
Net income (loss) attributable to Oppenheimer Holdings Inc.		$ (1,790)	$ (712)	$ 5,188	$ (3,847)	$ (3,144)	$ (908)	$ 295	$ 5,719	$ (1,161)	$ 1,962	$ 8,826
Income (Loss) from Continuing Operations, Per Basic Share		$ (0.28)	$ (0.08)	$ (0.20)	$ (0.27)	$ (0.28)	$ (0.08)	$ (0.11)	$ 0.27	$ (0.72)	$ (0.21)	$ 0.37
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share		0.05	0.03	0.59	(0.02)	0.05	0.01	0.13	0.15	0.63	0.35	0.28
Net income (loss) per share		(0.23)	(0.05)	0.39	(0.29)	0	0	0	0	(0.09)	0.14	0.65
Income (Loss) from Continuing Operations, Per Diluted Share		(0.28)	(0.08)	(0.20)	(0.27)	(0.28)	(0.08)	(0.11)	0.26	(0.72)	(0.21)	0.36
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share		0.05	0.03	0.59	(0.02)	0.05	0.01	0.13	0.14	0.63	0.35	0.26
Diluted earnings per share		$ (0.23)	$ (0.05)	$ 0.39	$ (0.29)	$ 0	$ 0	$ 0	$ 0	$ (0.09)	$ 0.14	$ 0.62
[1]	For the year ended December 31, 2016, the diluted earnings per share computation does not include the anti-dilutive effect of 1,237,134 shares of Class A Stock granted under share-based compensation arrangements (1,269,585 and 43,008 shares for the years ended December 31, 2015 and 2014, respectively).(2)Represents net income from discontinued operations less net income attributable to noncontrolling interest, net of tax divided by weighted average number of shares outstanding.

Earnings Per Share - Summary 79

Earnings Per Share - Summary of Earnings Per Share (Narrative) (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class A Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of anti-dilutive warrants, options and restricted shares, for the year	1,237,134	1,269,585	43,008

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	$ (7,662)	$ (851)	$ 6,017
U.S. state and local income taxes, net of U.S. federal income tax benefits	(1,075)	(69)	1,432
Unrecognized tax benefit	(603)	589	6
Valuation allowance	1,208	0	0
Non-taxable income	(1,267)	(696)	(593)
Non-deductible legal and regulatory expenses	0	0	5,296
Provision to return adjustments	(4,167)	442	(3)
Change in tax rates	264	305	53
Foreign tax rate differentials	143	145	(447)
Other non-deductible expenses	897	541	373
Current and Deferred Income Tax Expense (Benefit) from Continuing Operations	$ (12,262)	$ 406	$ 12,134
U.S. federal statutory income tax rate, percent	35.00%	35.00%	35.00%
U.S. state and local income taxes, net of U.S. federal income tax benefits, percent	4.90%	2.80%	8.30%
Unrecognized tax benefits, percent	2.80%	(24.30%)	0.00%
Effective Income Tax Rate Reconciliation, Valuation Allowance, Percent	(5.50%)	0.00%	0.00%
Other, percent	5.80%	28.70%	(3.40%)
Effective Income Tax Rate Reconciliation, Non-deductible legal and regulatory expenses, Percent	0.00%	0.00%	30.80%
Adjustment to reflect prior year tax return filings, percent	19.00%	(18.20%)	0.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(1.20%)	(12.50%)	0.30%
Non-U.S. operations, percent	(0.70%)	(6.00%)	(2.60%)
Business promotion and other non-deductible expenses, percent	(4.10%)	(22.20%)	2.20%
Total income tax expense, percent	56.00%	(16.70%)	70.60%

Income Taxes - Schedule of Curr

Income Taxes - Schedule of Current and Deferred Income Tax (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
U.S. federal tax (benefit)	$ (15,433)	$ (5,751)	$ 9,294
State and local tax	(4,631)	(74)	817
Non-U.S. operations	46	181	(264)
Total Current	(20,018)	(5,644)	9,847
Deferred:
U.S. federal tax	5,856	4,198	(529)
State and local tax	617	1,632	1,529
Non-U.S. operations	1,283	220	1,287
Deferred income taxes	7,756	6,050	2,287
Current and Deferred Income Tax Expense (Benefit) from Continuing Operations	$ (12,262)	$ 406	$ 12,134

Income Taxes - Schedule of Sign

Income Taxes - Schedule of Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Deferred compensation	$ 26,271	$ 27,423
Deferred rent and lease incentives	15,354	16,437
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts	3,554	4,478
Net operating losses and credits	4,917	4,164
Involuntary conversion	2,381	2,245
Deferred Tax Assets, Tax Deferred Expense, Depreciation	1,446	0
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	1,992	3,350
Deferred Tax Assets, Tax Deferred Expense, Auction Rate Securities Reserves	1,194	2,666
Other	1,953	2,718
Total deferred tax assets	59,062	63,481
Valuation allowance	1,280	126
Deferred tax assets after valuation allowance	57,782	63,355
Deferred tax liabilities:
Goodwill	57,117	53,364
Partnership investments	6,042	7,444
Company-owned life insurance	7,478	6,431
Change in accounting method	0	1,313
Depreciation	0	672
Other	282	248
Deferred Tax Liabilities, Gross	70,919	69,472
Total deferred tax liabilities	$ (13,137)	$ (6,117)

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 2,490,000	$ 1,583,000	$ 1,574,000
Additions for tax positions of prior years	98,000	907,000	0
Additions for tax positions of current year	0	0	9,000
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(652,000)	0	0
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	(848,000)	0	0
Ending Balance	$ 1,088,000	$ 2,490,000	$ 1,583,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Income Taxes [Line Items]
Unrecognized Tax Benefit, Reversal of Income Tax Interest Payable	$ 104,000
Profit (loss) before income taxes for foreign operations	$ (965,000)	$ 732,000	$ 4,300,000
Effective Income Tax Rate Reconciliation, Percent	56.00%	(16.70%)	70.60%
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount	$ 20,300,000
Unrecognized deferred tax liability related to earnings of foreign subsidiaries	2,300,000
Valuation allowance	$ 1,280,000	$ 126,000
Goodwill amortized period	15 years
Unrecognized tax benefits	$ 1,088,000	2,490,000	$ 1,583,000	$ 1,574,000
Unrecognized tax benefit that would impact tax rate	710,000,000,000	1,800,000
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	652,000	0	0
Income tax-related interest (benefit) expense		23,000
Income tax-related interest payable	1,000	106,000
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	$ 848,000	$ 0	$ 0
State and Local Jurisdiction | New York State | Minimum [Member]
Schedule Of Income Taxes [Line Items]
Income tax examination year	2,008
State and Local Jurisdiction | New York State | Maximum [Member]
Schedule Of Income Taxes [Line Items]
Income tax examination year	2,010
State and Local Jurisdiction | New York City | Minimum [Member]
Schedule Of Income Taxes [Line Items]
Income tax examination year	2,009
State and Local Jurisdiction | New York City | Maximum [Member]
Schedule Of Income Taxes [Line Items]
Income tax examination year	2,012
Oppenheimer Israel (OPCO) Ltd.
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	$ 1,100,000
Oppenheimer Investments Asia Ltd.
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	1,200,000
Valuation allowance	1,200,000
Oppenheimer Europe Ltd
Schedule Of Income Taxes [Line Items]
Net operating loss carryforward	$ 397,000

Employee Compensation Plans - S

Employee Compensation Plans - Summarizes of Company's Non-Vested ESP/EIP Awards (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Non-vested beginning of year	1,257,558
Granted, Number of shares	408,207
Vested, Number of shares	(377,011)
Forfeited or expired, Number of shares	(65,221)
Number of shares, Non-vested end of year	1,223,533	1,257,558
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Weighted average fair value, Non-vested beginning of year	$ 19.29
Weighted average fair value, Granted	12.63
Weighted average fair value, Vested	19.38
Weighted average fair value, Forfeited or expired	17.99
Weighted average fair value, Non-vested end of year	$ 17.11	$ 19.29
Remaining contractual life, Non-vested	2 years 19 days	1 year 8 months 30 days
Remaining contractual life, Granted	3 years 2 months 24 days

Employee Compensation Plans -86

Employee Compensation Plans - Summarizes Stock Options Outstanding and Exercisable (Details) - shares	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	13,601	12,027

Employee Compensation Plans -87

Employee Compensation Plans - Stock Appreciation Rights (Details) - $ / shares	Jan. 06, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		1,974,610
Total weighted average strike price		$ 19.40
Total weighted average remaining contractual life		2 years 3 months
Total weighted average fair value per share		$ 3.17
January Nineteen Two Thousand Twelve [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		305,660
Strike price		$ 18.94
Remaining contractual life		18 days
Fair value per share		$ 0.2549
January 13, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		414,070
Strike price		$ 23.48
Remaining contractual life		2 years
Fair value per share		$ 2.218
January Nine Two Thousand Fifteen [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		467,940
Strike price		$ 21.94
Remaining contractual life		3 years
Fair value per share		$ 3.0808
January Fourteen Two Thousand Thirteen [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		325,700
Strike price		$ 15.94
Remaining contractual life		1 year
Fair value per share		$ 4.1733
January Fourteen Two Thousand Thirteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Number of OARs outstanding		461,240
Strike price		$ 15.89
Remaining contractual life		4 years
Fair value per share		$ 5.3254
Subsequent Event [Member] | Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Of Stock Appreciation Rights Granted	443,630

Employee Compensation Plans - A

Employee Compensation Plans - Additional Information (Narrative) (Details)	Feb. 23, 2017shares	Jan. 26, 2017shares	Jan. 06, 2017shares	Dec. 31, 2016USD ($)employee_compensation_planshares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Employee Compensation Plans Granted | employee_compensation_plan				2
Maximum annual contribution under Defined Contribution Plan				$ 18,000	$ 18,000	$ 17,500
Employer contribution to Defined Contribution Plan				1,300,000	1,600,000	1,200,000
Deferred bonus amounts				$ 7,700,000	8,300,000	8,600,000
Vesting period of deferred bonus				5 years
Company-owned life insurance policy designed to offset a percentage of the EDCP liability				60.00%
Deferred compensation plans cost				$ 11,800,000	8,600,000	11,400,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares | shares				408,207
Restricted Stock | Class A Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of ESP awards outstanding				$ 22,800,000
The aggregate intrinsic value of ESP awards that are expected to vest				22,000,000
Compensation expense relating to the share-based awards				5,200,000	4,600,000	5,600,000
Unrecognized compensation cost related to unvested share-based compensation				$ 8,300,000
Cost is expected to be recognized over a weighted average period				2 years 19 days
Number of shares of Class A Stock available | shares				537,841
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense relating to the share-based awards				$ 19,900	69,900	133,600
Employee Stock Option | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment	4 years 6 months
Number of Options, Granted | shares	3,439
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense relating to the share-based awards				$ 1,000,000	$ 1,800,000	$ 380,100
Cost is expected to be recognized over a weighted average period				2 years 3 months
Aggregate intrinsic value of OARs outstanding and expected to vest				$ 2,100,000
Liability related to the OARs				2,700,000
Total unrecognized compensation cost				$ 3,200,000
Stock Appreciation Rights [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment			5 years
Number Of Stock Appreciation Rights Granted | shares			443,630
Employee Share Plan | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment				3 years
Employee Share Plan | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment				5 years
Oppenheimer Holdings Inc. Stock Appreciation Right Plan | Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment				5 years
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period				6 months
Equity Incentive Plan | Class A Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term granted for options				5 years
Equity Incentive Plan | Second Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage under share based payment				25.00%
Equity Incentive Plan | Third Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage under share based payment				25.00%
Equity Incentive Plan | Fourth Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage under share based payment				25.00%
Equity Incentive Plan | Six Months Before Expiration
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage under share based payment				25.00%
Stock Incentive Plan 2014 | Subsequent Event [Member] | Class A Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period under share based payment	3 years	3 years
Granted, Number of shares | shares	64,100	343,500
Stock Incentive Plan 2014 | Subsequent Event [Member] | Class A Stock | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of shares | shares	24,500
Next three years vesting percentage of shares	25.00%
Executive Deferred Compensation Plan and Deferred Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's deferred compensation liability				$ 49,700,000
CIBC Deferred Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's deferred compensation liability				$ 15,000,000

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Rental Commitments under Office and Equipment Leases (Details) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 40,751
2,018	39,204
2,019	34,149
2,020	26,150
2,021	22,341
2022 and thereafter	100,402
Total	$ 262,997

Commitments and Contingencies90

Commitments and Contingencies - Additional Information (Narrative) (Details) - USD ($)	Jan. 27, 2017	Nov. 30, 2016	Feb. 17, 2015	Feb. 09, 2015	Jan. 27, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Loss Contingencies [Line Items]
Operating leases expiring at various dates through						2,028
Rent expense						$ 44,400,000	$ 45,900,000	$ 45,600,000
Capital Commitments Relating To Investments						1,300,000
Purchase Commitments Outstanding, Auction Rate Securities Related to Settlements with Regulators						5,000,000
Eligible investor subject to future buyback principal value						33,400,000
Auction rate securities
Loss Contingencies [Line Items]
Total amount of ARS the firm purchased and hold						88,100,000
Amount of ARS committed to purchase from clients						26,000,000
SEC
Loss Contingencies [Line Items]
Litigation Settlement, Amount					$ (10,000,000)
Payments for Legal Settlements			$ 5,000,000
SEC | Unfavorable Regulatory Action, Disgorgement
Loss Contingencies [Line Items]
Litigation Settlement, Amount					(4,200,000)
SEC | Unfavorable Regulatory Action, Prejudgment Interest
Loss Contingencies [Line Items]
Litigation Settlement, Amount					(753,500)
SEC | Unfavorable Regulatory Action, Civil Penalties
Loss Contingencies [Line Items]
Litigation Settlement, Amount					(5,100,000)
United States Department of the Treasury
Loss Contingencies [Line Items]
Litigation Settlement, Amount					$ (10,000,000)
Payments for Legal Settlements				$ 5,000,000
FINRA [Member]
Loss Contingencies [Line Items]
Payments for Legal Settlements		$ 1,600,000
Payments for Legal Settlements, Restitution to Eligible Clients		$ 1,800,000
Minimum [Member]
Loss Contingencies [Line Items]
Maximum estimated range of aggregate loss for legal proceedings						0
Eligible investor subject to future buyback potential additional losses related to valuation adjustments						0
Maximum [Member]
Loss Contingencies [Line Items]
Maximum estimated range of aggregate loss for legal proceedings						$ 47,000,000
Scenario, Forecast [Member] | SEC
Loss Contingencies [Line Items]
Payments for Legal Settlements	$ 5,000,000
Scenario, Forecast [Member] | United States Department of the Treasury
Loss Contingencies [Line Items]
Payments for Legal Settlements	$ 5,000,000

Regulatory Requirements - Addit

Regulatory Requirements - Additional Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Oppenheimer
Regulatory Capital Requirements [Line Items]
Required percentage of net capital to aggregate customer-related debit items	2.00%
Net capital	$ 142,500,000
Actual percentage of net capital to aggregate customer-related debit items	13.98%
Excess capital	$ 122,100,000
Freedom
Regulatory Capital Requirements [Line Items]
Net capital	5,800,000
Freedom maintain net capital equal to the greater	$ 100,000
Aggregate indebtedness	6.67%
Net capital in excess of minimum required	$ 5,700,000
Oppenheimer Europe Ltd
Regulatory Capital Requirements [Line Items]
Common Equity Tier 1 Ratio	11.97%
Common Equity Tier 1 Ratio Required	4.50%
Tier 1 Capital Ratio	11.97%
Tier 1 Capital Ratio Required	6.00%
Total Capital Ratio	13.40%
Total Capital Ratio Required	8.00%
Oppenheimer Investments Asia Ltd.
Regulatory Capital Requirements [Line Items]
Net capital	$ 2,400,000
Net capital in excess of minimum required	2,000,000
Regulatory capital required to be maintained	$ 387,000

Goodwill and intangibles - Addi

Goodwill and intangibles - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 137,889	$ 137,889
Carrying value of intangibles	$ 31,700	$ 31,700

Segment Information - Reported

Segment Information - Reported Revenue and Profit Before Income Taxes (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue
Total revenue		$ (218,945)	$ (211,804)	$ (212,074)	$ (214,956)	$ (225,189)	$ (207,478)	$ (227,959)	$ (237,175)	$ (857,779)	$ (897,801)	$ (981,135)
Income (loss) before income taxes
Income (loss) before income taxes from continuing operations		$ (7,496)	$ (1,810)	$ (5,246)	$ (7,340)	$ (4,568)	$ (2,573)	$ (1,101)	$ 5,814	(21,892)	(2,428)	17,190
Private Client Division
Revenue
Total revenue	[1]									(504,192)	(521,526)	(582,364)
Income (loss) before income taxes
Income (loss) before income taxes from continuing operations	[1]									$ 66,072	$ 59,016	$ 60,116
Asset management fees										77.50%	77.50%	77.50%
Asset Management
Revenue
Total revenue	[1]									$ (92,852)	$ (97,121)	$ (99,964)
Income (loss) before income taxes
Income (loss) before income taxes from continuing operations	[1]									$ 31,412	$ 33,133	$ 33,707
Asset management fees										22.50%	22.50%	22.50%
Capital markets
Revenue
Total revenue										$ (254,933)	$ (279,589)	$ (298,597)
Income (loss) before income taxes
Income (loss) before income taxes from continuing operations										(17,713)	5,167	17,819
Corporate/Other
Revenue
Total revenue										(5,802)	(435)	(210)
Income (loss) before income taxes
Income (loss) before income taxes from continuing operations										$ (101,663)	$ (99,744)	$ (94,452)
[1]	Asset management fees are allocated 22.5% to the Asset Management and 77.5% to the Private Client segments.

Segment Information - Revenue C

Segment Information - Revenue Classified by Major Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 218,945	$ 211,804	$ 212,074	$ 214,956	$ 225,189	$ 207,478	$ 227,959	$ 237,175	$ 857,779	$ 897,801	$ 981,135
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									815,231	853,221	932,032
Europe/Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									39,048	40,603	43,087
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									$ 3,500	$ 3,977	$ 6,016

Subsequent Events - Additional

Subsequent Events - Additional Information (Narrative) (Details) - Subsequent Event [Member] - $ / shares	Feb. 24, 2017	Feb. 10, 2017	Jan. 27, 2017
Subsequent Events [Line Items]
Date of announcement of dividend			Jan. 27, 2017
Date of payment of dividend	Feb. 24, 2017
Date of record of dividend		Feb. 10, 2017
Class A Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share			$ 0.11
Class B Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share			$ 0.11

Quarterly Information - Schedul

Quarterly Information - Schedule of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 218,945		$ 211,804		$ 212,074		$ 214,956		$ 225,189		$ 207,478		$ 227,959		$ 237,175		$ 857,779		$ 897,801		$ 981,135
Operating Expenses	226,441		213,614		217,320		222,296		229,757		210,051		229,060		231,361		879,671		900,229		963,945
Income (loss) before income taxes from continuing operations	(7,496)		(1,810)		(5,246)		(7,340)		(4,568)		(2,573)		(1,101)		5,814		(21,892)		(2,428)		17,190
Other Income Tax Expense (Benefit), Continuing Operations	(5,072)		(751)		(2,627)		(3,812)		(712)		(1,437)		400		2,155		(12,262)		406		12,134
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(2,424)		(1,059)		(2,619)		(3,528)		(3,856)		(1,136)		(1,501)		3,659		(9,630)		(2,834)		5,056
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	759		413		9,330		(381)		765		359		2,146		2,462		10,121		5,732		4,505
Net income	(1,665)		(646)		6,711		(3,909)		(3,091)		(777)		645		6,121		491		2,898		9,561
Less net income attributable to noncontrolling interest, net of tax	125		66		1,523		(62)		53		131		350		402		1,652		936		735
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ (1,790)		$ (712)		$ 5,188		$ (3,847)		$ (3,144)		$ (908)		$ 295		$ 5,719		$ (1,161)		$ 1,962		$ 8,826
Income (Loss) from Continuing Operations, Per Basic Share	$ (0.28)		$ (0.08)		$ (0.20)		$ (0.27)		$ (0.28)		$ (0.08)		$ (0.11)		$ 0.27		$ (0.72)		$ (0.21)		$ 0.37
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.05		0.03		0.59		(0.02)		0.05		0.01		0.13		0.15		0.63		0.35		0.28
Net income (loss) per share	(0.23)		(0.05)		0.39		(0.29)		0		0		0		0		(0.09)		0.14		0.65
Income (Loss) from Continuing Operations, Per Diluted Share	(0.28)		(0.08)		(0.20)		(0.27)		(0.28)		(0.08)		(0.11)		0.26		(0.72)		(0.21)		0.36
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.05		0.03		0.59		(0.02)		0.05		0.01		0.13		0.14		0.63		0.35		0.26
Earnings Per Share, Diluted	(0.23)		(0.05)		0.39		(0.29)		0		0		0		0		(0.09)		0.14		$ 0.62
Basic net income (loss) per share attributable to Oppenheimer Holdings Inc.
Dividends per share	0.11		0.11		0.11		0.11		0.11		0.11		0.11		0.11		0.44		0.44
Market price of Class A Stock
High	19.65	[1]	16.49	[1]	16.66	[1]	16.98	[1]	20.98	[2]	26.8	[2]	27.99	[2]	24.41	[2]	19.65	[1]	27.99	[2]
Low	$ 13.65	[1]	$ 13.74	[1]	$ 13.63	[1]	$ 13.58	[1]	$ 15.6	[2]	$ 17.4	[2]	$ 22.3	[2]	$ 19.04	[2]	$ 13.58	[1]	$ 15.6	[2]
[1]	The price quotations above were obtained from the New York Stock Exchange website.
[2]	The price quotations above were obtained from the New York Stock Exchange website.

Supplemental Guarantor Condense

Supplemental Guarantor Condensed Consolidated Financial Statements - Additional Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Interest owned by the holding company	100.00%

Supplemental Guarantor Conden98

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 64,913	$ 63,364	$ 63,807	$ 98,294
Deposits with clearing organizations	38,185	49,490
Receivable from brokers, dealers and clearing organizations	214,934	365,791
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	847,386	840,355
Income tax receivable	5,816	12,231
Securities purchased under agreements to resell, at fair value	24,006	206,499
Securities owned, at fair value	707,108	734,831
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	30,099	32,849
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	27,233	28,285
Assets held for sale	5,188	99,881
Subordinated loan receivable	0	0
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	102,473	94,839
Deferred tax assets	0	0
Investment in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	2,236,930	2,698,004
Liabilities
Drafts payable	39,228	48,011
Bank call loans	145,800	100,200
Payable to brokers, dealers and clearing organizations	221,389	164,546
Payable to customers	449,946	594,833
Securities sold under agreements to repurchase	378,084	651,445
Securities sold but not yet purchased, at fair value	85,050	126,493
Liabilities held for sale	1,217	74,680
Accrued compensation	145,053	149,092
Accounts payable and other liabilities	95,340	108,637
Income tax payable	0	0
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	149,352	148,868
Subordinated indebtedness	0	0
Deferred tax liabilities, net	13,137	6,117
Intercompany payables	0	0
Total liabilities	1,723,596	2,172,922
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	510,703	518,058
Noncontrolling interest	2,631	7,024
Total stockholders' equity	513,334	525,082	533,732
Total liabilities and stockholders' equity	2,236,930	2,698,004
Allowance for credit losses	794	2,545
Amounts pledged	438,385	546,334
Notes Receivable, Net Accumulated Amortization	24,826	54,919
Notes Receivable, Net Allowance for Uncollectibles	6,784	8,444
Net accumulated depreciation	84,073	104,812
Unamortized debt issuance expense	648	1,132
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	0	0
Income tax receivable	(64,469)	(49,106)
Securities purchased under agreements to resell, at fair value	0	0
Securities owned, at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Assets held for sale	0	0
Subordinated loan receivable	(112,558)	(112,558)
Intangible assets	0	0
Goodwill	0	0
Other assets	0	0
Deferred tax assets	(38,664)	(41,103)
Investment in subsidiaries	(1,068,390)	(1,109,971)
Intercompany receivables	(75,820)	(73,372)
Total assets	(1,359,901)	(1,386,110)
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold but not yet purchased, at fair value	0	0
Liabilities held for sale	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	0	0
Income tax payable	(64,469)	(49,106)
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	0	0
Subordinated indebtedness	(112,558)	(112,558)
Deferred tax liabilities, net	(38,664)	(41,103)
Intercompany payables	(75,820)	(73,372)
Total liabilities	(291,511)	(276,139)
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	(1,068,390)	(1,109,971)
Noncontrolling interest	0	0
Total stockholders' equity	(1,068,390)	(1,109,971)
Total liabilities and stockholders' equity	(1,359,901)	(1,386,110)
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	10,284	2,586	1,557	30,901
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	0	0
Income tax receivable	28,289	27,536
Securities purchased under agreements to resell, at fair value	0	0
Securities owned, at fair value	23,227	1,183
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	21,963	20,793
Assets held for sale	0	0
Subordinated loan receivable	112,558	112,558
Intangible assets	0	0
Goodwill	0	0
Other assets	2,598	3,224
Deferred tax assets	309	330
Investment in subsidiaries	483,623	532,651
Intercompany receivables	37,914	13,185
Total assets	720,765	714,046
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold but not yet purchased, at fair value	0	0
Liabilities held for sale	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	34,920	35,812
Income tax payable	22,189	22,189
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	0	0
Subordinated indebtedness	0	0
Deferred tax liabilities, net	7	0
Intercompany payables	62,205	62,204
Total liabilities	119,321	120,205
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	601,444	593,841
Noncontrolling interest	0	0
Total stockholders' equity	601,444	593,841
Total liabilities and stockholders' equity	720,765	714,046
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	54,400	59,871	61,811	66,945
Deposits with clearing organizations	38,185	49,490
Receivable from brokers, dealers and clearing organizations	214,934	365,791
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	847,386	840,355
Income tax receivable	0	0
Securities purchased under agreements to resell, at fair value	24,006	206,499
Securities owned, at fair value	683,881	733,648
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	30,099	32,849
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	5,270	7,492
Assets held for sale	5,188	99,881
Subordinated loan receivable	0	0
Intangible assets	31,700	31,700
Goodwill	137,889	137,889
Other assets	99,804	91,546
Deferred tax assets	37,961	40,456
Investment in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	2,210,703	2,697,467
Liabilities
Drafts payable	39,228	48,011
Bank call loans	145,800	100,200
Payable to brokers, dealers and clearing organizations	221,389	164,546
Payable to customers	449,946	594,833
Securities sold under agreements to repurchase	378,084	651,445
Securities sold but not yet purchased, at fair value	85,050	126,493
Liabilities held for sale	1,217	74,680
Accrued compensation	145,053	149,092
Accounts payable and other liabilities	57,552	69,590
Income tax payable	39,840	24,477
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	0	0
Subordinated indebtedness	112,558	112,558
Deferred tax liabilities, net	51,794	47,220
Intercompany payables	13,615	11,168
Total liabilities	1,741,126	2,174,313
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	466,946	516,130
Noncontrolling interest	2,631	7,024
Total stockholders' equity	469,577	523,154
Total liabilities and stockholders' equity	2,210,703	2,697,467
Parent
ASSETS
Cash and cash equivalents	229	907	439	$ 448
Deposits with clearing organizations	0	0
Receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers, net of allowance for credit losses of $794 ($2,545 in 2015)	0	0
Income tax receivable	41,996	33,801
Securities purchased under agreements to resell, at fair value	0	0
Securities owned, at fair value	0	0
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,826 and $6,784, respectively ($54,919 and $8,444, respectively, in 2015)	0	0
Office facilities, net of accumulated depreciation of $104,065 ($97,118 in 2013)	0	0
Assets held for sale	0	0
Subordinated loan receivable	0	0
Intangible assets	0	0
Goodwill	0	0
Other assets	71	69
Deferred tax assets	394	317
Investment in subsidiaries	584,767	577,320
Intercompany receivables	37,906	60,187
Total assets	665,363	672,601
Liabilities
Drafts payable	0	0
Bank call loans	0	0
Payable to brokers, dealers and clearing organizations	0	0
Payable to customers	0	0
Securities sold under agreements to repurchase	0	0
Securities sold but not yet purchased, at fair value	0	0
Liabilities held for sale	0	0
Accrued compensation	0	0
Accounts payable and other liabilities	2,868	3,235
Income tax payable	2,440	2,440
Senior secured notes, net of debt issuance costs of $648 ($1,132 in 2015)	149,352	148,868
Subordinated indebtedness	0	0
Deferred tax liabilities, net	0	0
Intercompany payables	0	0
Total liabilities	154,660	154,543
Stockholders' equity
Stockholders' equity attributable to Oppenheimer Holdings Inc.	510,703	518,058
Noncontrolling interest	0	0
Total stockholders' equity	510,703	518,058	$ 527,644
Total liabilities and stockholders' equity	$ 665,363	$ 672,601

Supplemental Guarantor Conden99

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
REVENUES
Commissions									$ 377,317	$ 417,559		$ 469,829
Advisory fees									269,119	280,247		281,680
Investment banking									81,011	102,540		125,598
Interest									47,649	49,032		47,505
Principal transactions, net									20,481	15,180		27,515
Other									62,202	33,243		29,008
Total revenue	$ 218,945	$ 211,804	$ 212,074	$ 214,956	$ 225,189	$ 207,478	$ 227,959	$ 237,175	857,779	897,801		981,135
EXPENSES
Compensation and related expenses									584,710	610,820		654,396
Communications and technology									70,390	66,549		66,750
Occupancy and equipment costs									60,791	62,842		62,671
Clearing and exchange fees									25,126	26,022		24,709
Interest									19,437	16,329		16,956
Other									119,217	117,667		138,463
Total expenses	226,441	213,614	217,320	222,296	229,757	210,051	229,060	231,361	879,671	900,229		963,945
Income (loss) before income taxes from continuing operations	(7,496)	(1,810)	(5,246)	(7,340)	(4,568)	(2,573)	(1,101)	5,814	(21,892)	(2,428)		17,190
Other Income Tax Expense (Benefit), Continuing Operations	(5,072)	(751)	(2,627)	(3,812)	(712)	(1,437)	400	2,155	(12,262)	406		12,134
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(2,424)	(1,059)	(2,619)	(3,528)	(3,856)	(1,136)	(1,501)	3,659	(9,630)	(2,834)		5,056
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									17,339	9,139		8,546
Equity in earnings of subsidiaries									0	0	[1]	0
Net income	(1,665)	(646)	6,711	(3,909)	(3,091)	(777)	645	6,121	491	2,898		9,561
Discontinued Operation, Tax Effect of Discontinued Operation									7,218	3,407		4,041
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	759	413	9,330	(381)	765	359	2,146	2,462	10,121	5,732		4,505
Less net income attributable to noncontrolling interest, net of tax	125	66	1,523	(62)	53	131	350	402	1,652	936		735
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ (1,790)	$ (712)	$ 5,188	$ (3,847)	$ (3,144)	$ (908)	$ 295	$ 5,719	(1,161)	1,962		8,826
Other comprehensive income									220	17		(2,627)
Total comprehensive income (loss)									(941)	1,979		6,199
Eliminations
REVENUES
Commissions									0	0		0
Advisory fees									(4,215)	(3,682)		(3,244)
Investment banking									0	0		0
Interest									(10,397)	(10,261)		(10,431)
Principal transactions, net									0	(64)		0
Other									(325)	(300)		(425)
Total revenue									(14,937)	(14,307)		(14,100)
EXPENSES
Compensation and related expenses									0	0		0
Communications and technology									0	0		0
Occupancy and equipment costs									(325)	(300)		(425)
Clearing and exchange fees									0	0		0
Interest									(10,397)	(10,261)		(10,431)
Other									(4,215)	(3,746)		(3,244)
Total expenses									(14,937)	(14,307)		(14,100)
Income (loss) before income taxes from continuing operations									0	0		0
Other Income Tax Expense (Benefit), Continuing Operations									0	0		0
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									0	0		0
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									0	0		0
Equity in earnings of subsidiaries									(6,294)	(18,636)		(34,698)
Net income									(6,294)	(18,636)		(34,698)
Discontinued Operation, Tax Effect of Discontinued Operation									0	0		0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									0	0		0
Less net income attributable to noncontrolling interest, net of tax									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									(6,294)	(18,636)		(34,698)
Other comprehensive income									0	0		0
Total comprehensive income (loss)									(6,294)	(18,636)		(34,698)
Guarantor Subsidiaries
REVENUES
Commissions									0	0		0
Advisory fees									1,571	1,296		1,139
Investment banking									0	0		0
Interest									10,242	10,237		10,482
Principal transactions, net									16	0		164
Other									326	370		477
Total revenue									12,155	11,903		12,262
EXPENSES
Compensation and related expenses									0	0		0
Communications and technology									0	0		0
Occupancy and equipment costs									0	0		0
Clearing and exchange fees									0	0		0
Interest									0	0		0
Other									1,284	892		733
Total expenses									1,284	892		733
Income (loss) before income taxes from continuing operations									10,871	11,011		11,529
Other Income Tax Expense (Benefit), Continuing Operations									3,325	5,553		3,971
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									7,546	5,458		7,558
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									0	0		0
Equity in earnings of subsidiaries									(626)	6,589		13,570
Net income									6,920	12,047		21,128
Discontinued Operation, Tax Effect of Discontinued Operation									0	0		0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									0	0		0
Less net income attributable to noncontrolling interest, net of tax									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									6,920	12,047		21,128
Other comprehensive income									0	0		0
Total comprehensive income (loss)									6,920	12,047		21,128
Non-Guarantor Subsidiaries
REVENUES
Commissions									377,317	417,559		469,829
Advisory fees									271,763	282,633		283,785
Investment banking									81,011	102,540		125,598
Interest									47,804	49,056		47,454
Principal transactions, net									20,465	15,244		27,351
Other									62,201	33,173		28,956
Total revenue									860,561	900,205		982,973
EXPENSES
Compensation and related expenses									583,469	609,635		653,349
Communications and technology									70,266	66,407		66,605
Occupancy and equipment costs									61,116	63,142		63,096
Clearing and exchange fees									25,126	26,022		24,709
Interest									16,709	13,465		12,986
Other									120,261	118,858		136,348
Total expenses									876,947	897,529		957,093
Income (loss) before income taxes from continuing operations									(16,386)	2,676		25,880
Other Income Tax Expense (Benefit), Continuing Operations									(7,291)	883		16,080
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									(9,095)	1,793		9,800
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									17,339	9,139		8,546
Equity in earnings of subsidiaries									0	0		0
Net income									1,026	7,525		14,305
Discontinued Operation, Tax Effect of Discontinued Operation									7,218	3,407		4,041
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									10,121	5,732		4,505
Less net income attributable to noncontrolling interest, net of tax									1,652	936		735
Net income (loss) attributable to Oppenheimer Holdings Inc.									(626)	6,589		13,570
Other comprehensive income									220	17		(2,627)
Total comprehensive income (loss)									(406)	6,606		10,943
Parent
REVENUES
Commissions									0	0		0
Advisory fees									0	0		0
Investment banking									0	0		0
Interest									0	0		0
Principal transactions, net									0	0		0
Other									0	0		0
Total revenue									0	0		0
EXPENSES
Compensation and related expenses									1,241	1,185		1,047
Communications and technology									124	142		145
Occupancy and equipment costs									0	0		0
Clearing and exchange fees									0	0		0
Interest									13,125	13,125		14,401
Other									1,887	1,663		4,626
Total expenses									16,377	16,115		20,219
Income (loss) before income taxes from continuing operations									(16,377)	(16,115)		(20,219)
Other Income Tax Expense (Benefit), Continuing Operations									(8,296)	(6,030)		(7,917)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									(8,081)	(10,085)		(12,302)
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									0	0		0
Equity in earnings of subsidiaries									6,920	12,047		21,128
Net income									(1,161)	1,962		8,826
Discontinued Operation, Tax Effect of Discontinued Operation									0	0		0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest									0	0		0
Less net income attributable to noncontrolling interest, net of tax									0	0		0
Net income (loss) attributable to Oppenheimer Holdings Inc.									(1,161)	1,962		8,826
Other comprehensive income									0	0		0
Total comprehensive income (loss)									$ (1,161)	$ 1,962		$ 8,826
[1]	(Expressed in thousands)Parent Guarantorsubsidiaries Non-guarantorSubsidiaries Eliminations ConsolidatedREVENUES Commissions$— $— $417,559 $— $417,559Advisory fees— 1,296 282,633 (3,682) 280,247Investment banking— — 102,540 — 102,540Interest— 10,237 49,056 (10,261) 49,032Principal transactions, net— — 15,244 (64) 15,180Other— 370 33,173 (300) 33,243Total revenue— 11,903 900,205 (14,307) 897,801EXPENSES Compensation and related expenses1,185 — 609,635 — 610,820Communications and technology142 — 66,407 — 66,549Occupancy and equipment costs— — 63,142 (300) 62,842Clearing and exchange fees— — 26,022 — 26,022Interest13,125 — 13,465 (10,261) 16,329Other1,663 892 118,858 (3,746) 117,667Total expenses16,115 892 897,529 (14,307) 900,229Income (loss) before income taxes(16,115) 11,011 2,676 — (2,428)Income taxes(6,030) 5,553 883 — 406Net income (loss) from continuing operations(10,085) 5,458 1,793 — (2,834) Discontinued operations Income from discontinued operations— — 9,139 — 9,139Income taxes— — 3,407 — 3,407Net income from discontinued operations— — 5,732 — 5,732 Equity in earnings of subsidiaries12,047 6,589 — (18,636) —Net income1,962 12,047 7,525 (18,636) 2,898Less net income attributable to noncontrolling interest, net of tax— — 936 — 936Net income attributable to Oppenheimer Holdings Inc.1,962 12,047 6,589 (18,636) 1,962Other comprehensive income— — 17 — 17Total comprehensive income$1,962 $12,047 $6,606 $(18,636) $1,979

Supplemental Guarantor Conde100

Supplemental Guarantor Condensed Consolidated Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operations:
Cash provided by (used in) operating activities		$ (67,466)	$ (20,819)	$ 78,315
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements		(5,731)	(5,889)	(4,398)
Proceeds from Divestiture of Businesses		(45,448)	0	0
Cash provided by (used in) investing activities		39,717	(5,889)	(4,398)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock		(5,887)	(6,008)	(5,983)
Payments of Ordinary Dividends, Noncontrolling Interest	$ (5,700)	(5,740)	0	0
Payments for Repurchase of Common Stock		(3,935)	(8,250)	0
Issuance of Class A non-voting common stock		0	0	185
Excess tax benefit (deficiency) from share-based awards		(740)	(277)	1,194
Redemption of senior secured notes		0	0	(45,000)
Redemption of senior secured notes		45,600	40,800	(58,800)
Cash provided by (used in) financing activities		29,298	26,265	(108,404)
Net increase (decrease) in cash and cash equivalents		1,549	(443)	(34,487)
Cash and cash equivalents, beginning of year		63,364	63,807	98,294
Cash and cash equivalents, end of year		64,913	63,364	63,807
Eliminations
Cash flows from operations:
Cash provided by (used in) operating activities		0	0	0
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements		0	0	0
Proceeds from Divestiture of Businesses		0
Cash provided by (used in) investing activities		0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock		0	0	0
Payments of Ordinary Dividends, Noncontrolling Interest		0
Payments for Repurchase of Common Stock		0	0
Issuance of Class A non-voting common stock				0
Excess tax benefit (deficiency) from share-based awards		0	0	0
Redemption of senior secured notes				0
Redemption of senior secured notes		0	0	0
Cash provided by (used in) financing activities		0	0	0
Net increase (decrease) in cash and cash equivalents		0	0	0
Cash and cash equivalents, beginning of year		0	0	0
Cash and cash equivalents, end of year		0	0	0
Guarantor Subsidiaries
Cash flows from operations:
Cash provided by (used in) operating activities		7,698	1,029	(29,344)
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements		0	0	0
Proceeds from Divestiture of Businesses		0
Cash provided by (used in) investing activities		0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock		0	0	0
Payments of Ordinary Dividends, Noncontrolling Interest		0
Payments for Repurchase of Common Stock		0	0
Issuance of Class A non-voting common stock				0
Excess tax benefit (deficiency) from share-based awards		0	0	0
Redemption of senior secured notes				0
Redemption of senior secured notes		0	0	0
Cash provided by (used in) financing activities		0	0	0
Net increase (decrease) in cash and cash equivalents		7,698	1,029	(29,344)
Cash and cash equivalents, beginning of year		2,586	1,557	30,901
Cash and cash equivalents, end of year		10,284	2,586	1,557
Non-Guarantor Subsidiaries
Cash flows from operations:
Cash provided by (used in) operating activities		(85,048)	(36,851)	58,064
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements		(5,731)	(5,889)	(4,398)
Proceeds from Divestiture of Businesses		(45,448)
Cash provided by (used in) investing activities		39,717	(5,889)	(4,398)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock		0	0	0
Payments of Ordinary Dividends, Noncontrolling Interest		(5,740)
Payments for Repurchase of Common Stock		0	0
Issuance of Class A non-voting common stock				0
Excess tax benefit (deficiency) from share-based awards		0	0	0
Redemption of senior secured notes				0
Redemption of senior secured notes		45,600	40,800	(58,800)
Cash provided by (used in) financing activities		39,860	40,800	(58,800)
Net increase (decrease) in cash and cash equivalents		(5,471)	(1,940)	(5,134)
Cash and cash equivalents, beginning of year		59,871	61,811	66,945
Cash and cash equivalents, end of year		54,400	59,871	61,811
Parent
Cash flows from operations:
Cash provided by (used in) operating activities		9,884	15,003	49,595
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements		0	0	0
Proceeds from Divestiture of Businesses		0
Cash provided by (used in) investing activities		0	0	0
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock		(5,887)	(6,008)	(5,983)
Payments of Ordinary Dividends, Noncontrolling Interest		0
Payments for Repurchase of Common Stock		(3,935)	(8,250)
Issuance of Class A non-voting common stock				185
Excess tax benefit (deficiency) from share-based awards		(740)	(277)	1,194
Redemption of senior secured notes				(45,000)
Redemption of senior secured notes		0	0	0
Cash provided by (used in) financing activities		(10,562)	(14,535)	(49,604)
Net increase (decrease) in cash and cash equivalents		(678)	468	(9)
Cash and cash equivalents, beginning of year		907	439	448
Cash and cash equivalents, end of year		$ 229	$ 907	$ 439