Oppenheimer (OPY) 10-Q 29 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-12043
Entity Registrant Name	OPPENHEIMER HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0080034
Entity Address, Address Line One	85 Broad Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10004
City Area Code	212
Local Phone Number	668-8000
Title of 12(b) Security	Class A non-voting common stock
Trading Symbol	OPY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000791963
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q2
Amendment Flag	false
Class A Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,251,930
Class B Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		99,665

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands		Jun. 30, 2022		Dec. 31, 2021	[1]
ASSETS
Cash and cash equivalents		$ 36,606		$ 213,759
Deposits with clearing organizations		99,568		66,968
Restricted cash		127,875		127,765
Receivable from brokers, dealers and clearing organizations		167,898		169,902
Receivable from customers, net of allowance for credit losses of $3,400 ($3,326 in 2021)		1,288,079		1,221,450
Income tax receivable		9,161		0
Securities purchased under agreements to resell		0		935
Securities owned, including amounts pledged of $316,605 ($266,428 in 2021), at fair value		621,272		634,504
Notes receivable, net		59,099		53,983
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $96,203 ($92,785 in 2021)		26,537		28,036
Right-of-use lease assets, net of accumulated amortization of $74,164 ($76,462 in 2021)		146,057		150,121
Goodwill		137,889		137,889
Intangible assets		32,100		32,100
Other assets		168,440		205,838
Total assets		2,920,581		3,043,250
Liabilities
Drafts payable		10,020		0
Bank call loans		177,300		69,500
Payable to brokers, dealers and clearing organizations		388,467		422,057
Payable to customers		419,315		456,958
Securities sold under agreements to repurchase		170,968		277,322
Securities sold but not yet purchased, at fair value		254,652		71,958
Accrued compensation		173,287		342,125
Income tax payable		0		13,536
Accounts payable and other liabilities		58,336		76,655
Lease liabilities		187,531		192,019
Senior secured notes, net of debt issuance costs of $800 ($926 in 2021)		124,200		124,074
Deferred tax liabilities, net of deferred tax assets of $46,229 ($54,957 in 2021)		47,372		44,016
Total liabilities		2,011,448		2,090,220
Commitments and contingencies (note 14)
Redeemable noncontrolling interests	[2]	127,765		127,765
Stockholders' equity
Common stock ($0.001 par value per share): Class A: shares authorized: 50,000,000; shares issued and outstanding: 11,270,944 and 12,447,036 as of June 30, 2022 and December 31, 2021, respectively Class B: shares authorized, issued and outstanding: 99,665 as of June 30, 2022 and December 31, 2021		11		13
Additional paid-In capital		35,461		78,032
Retained earnings		742,614		740,926
Accumulated other comprehensive income		1,573		4,225
Total Oppenheimer Holdings Inc. stockholders' equity		779,659		823,196
Noncontrolling interest (Note 2)		1,709		2,069
Total Stockholders' equity		781,368	[2]	825,265
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders' Equity		$ 2,920,581		$ 3,043,250
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2[2]Certain prior period amounts were reclassified to conform to the current period presentation, see Note 2.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for credit loss	$ 3,400	$ 3,326
Amounts pledged	316,605	266,428
Accumulated depreciation	96,203	92,785
Right of use asset, accumulated amortization	74,164	76,462
Unamortized debt issuance expense	800	926
Deferred tax assets	$ 46,229	$ 54,957
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A Stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	11,270,944	12,447,036
Common stock, outstanding (in shares)	11,270,944	12,447,036
Class B Stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	99,665	99,665
Common stock, issued (in shares)	99,665	99,665
Common stock, outstanding (in shares)	99,665	99,665

Condensed Consolidated Income S

Condensed Consolidated Income Statements (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUE
Commissions	$ 94,378	$ 96,171	$ 192,699	$ 209,642
Advisory fees	107,405	111,152	223,171	215,648
Investment banking	16,653	104,742	55,123	229,243
Bank deposit sweep income	14,845	3,712	19,199	7,720
Interest	11,789	8,909	21,306	17,575
Principal transactions, net	1,258	6,305	3,622	17,170
Other	(9,106)	9,302	(11,870)	16,577
Total revenue	237,222	340,293	503,250	713,575
EXPENSES
Compensation and related expenses	177,979	231,140	364,010	486,741
Communications and technology	20,896	19,172	42,481	39,779
Occupancy and equipment costs	14,554	15,225	29,244	30,407
Clearing and exchange fees	6,242	5,155	12,218	11,430
Interest	3,628	2,448	6,140	5,095
Other	20,092	23,985	41,113	44,828
Total expenses	243,391	297,125	495,206	618,280
Pre-tax income (loss)	(6,169)	43,168	8,044	95,295
Income taxes provision (benefit)	(1,449)	12,009	2,986	25,478
Net income (loss)	(4,720)	31,159	5,058	69,817
Net income (loss) attributable to noncontrolling interest, net of tax	(846)	0	(360)	0
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ (3,874)	$ 31,159	$ 5,418	$ 69,817
Earnings (Loss) per share attributable to Oppenheimer Holdings Inc.
Basic (in dollars per share)	$ (0.32)	$ 2.46	$ 0.44	$ 5.53
Diluted (in dollars per share)	$ (0.32)	$ 2.28	$ 0.41	$ 5.17
Weighted average shares outstanding
Basic (in shares)	11,980,115	12,689,191	12,222,527	12,634,464
Diluted (in shares)	11,980,115	13,681,146	13,141,538	13,495,589
Shares, Outstanding	11,370,609	12,692,311	11,370,609	12,692,311

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,720)	$ 31,159	$ 5,058	$ 69,817
Other comprehensive income (loss), net of tax
Currency translation adjustment	(2,038)	537	(2,652)	(299)
Comprehensive income (loss)	(6,758)	31,696	2,406	69,518
Less net income (loss) attributable to noncontrolling interests	(846)	0	(360)	0
Comprehensive income (loss) attributable to Oppenheimer Holdings Inc.	$ (5,912)	$ 31,696	$ 2,766	$ 69,518

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($) $ in Thousands		Total		Common stock ($0.001 par value per share)		Common stock ($0.001 par value per share) Class A Stock	Additional paid-in capital		Additional paid-in capital Class A Stock	Retained earnings		Accumulated other comprehensive income		Parent	Noncontrolling interest
Balance at beginning of period at Dec. 31, 2020	[1]			$ 13			$ 80,801			$ 601,406		$ 3,448			$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock	[1]					$ 0			$ 3,996
Repurchase of Class A non-voting common stock for cancellation	[1]					0			0
Share-based expense	[1]						5,219
Vested employee share plan awards	[1]						(8,864)
Net income (loss)		$ 69,817								69,817	[1],[2]
Dividends paid	[1]									(3,030)
Currency translation adjustment		(299)										(299)	[1]
Net income (loss) attributable to noncontrolling interest		0													0	[1]
Balance at end of period at Jun. 30, 2021	[1]	752,507		13			81,152			668,193		3,149		$ 752,507	0
Balance at beginning of period at Dec. 31, 2020	[1]	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions during the year	[1]	0
Balance at end of period at Jun. 30, 2021	[1]	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	[1]	$ 0.24
Balance at beginning of period at Mar. 31, 2021	[1]			13			78,557			638,558		2,612			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock	[1]					0			188
Repurchase of Class A non-voting common stock for cancellation	[1]					0			0
Share-based expense	[1]						2,759
Vested employee share plan awards	[1]						(352)
Net income (loss)		$ 31,159								31,159	[1],[2]
Dividends paid	[1]									(1,524)
Currency translation adjustment		537										537	[1]
Net income (loss) attributable to noncontrolling interest		0													0	[1]
Balance at end of period at Jun. 30, 2021	[1]	752,507		13			81,152			668,193		3,149		752,507	0
Balance at beginning of period at Mar. 31, 2021	[1]	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions during the year	[1]	0
Balance at end of period at Jun. 30, 2021	[1]	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	[1]	$ 0.12
Balance at beginning of period at Dec. 31, 2021		$ 825,265	[3]	12	[1]		78,034	[1]		740,926	[1]	4,225	[1]		2,069	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock	[1]					0			2,344
Repurchase of Class A non-voting common stock for cancellation	[1]					(1)			(46,375)
Share-based expense	[1]						6,053
Vested employee share plan awards	[1]						(4,595)
Net income (loss)		5,418								5,418	[1],[2]
Dividends paid	[1]									(3,730)
Currency translation adjustment		(2,652)										(2,652)	[1]
Net income (loss) attributable to noncontrolling interest		(360)													(360)	[1]
Balance at end of period at Jun. 30, 2022	[1]	781,368		11			35,461			742,614		1,573		779,659	1,709
Balance at beginning of period at Dec. 31, 2021	[1],[3]	127,765
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions during the year	[1]	0
Balance at end of period at Jun. 30, 2022	[1]	$ 127,765
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	[1]	$ 0.30
Balance at beginning of period at Mar. 31, 2022	[1]			12			62,446			748,323		3,611			2,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock	[1]					0			0
Repurchase of Class A non-voting common stock for cancellation	[1]					$ (1)			$ (30,217)
Share-based expense	[1]						3,232
Vested employee share plan awards	[1]						0
Net income (loss)		$ (3,874)								(3,874)	[1],[2]
Dividends paid	[1]									(1,835)
Currency translation adjustment		(2,038)										(2,038)	[1]
Net income (loss) attributable to noncontrolling interest		(846)													(846)	[1]
Balance at end of period at Jun. 30, 2022	[1]	781,368		$ 11			$ 35,461			$ 742,614		$ 1,573		$ 779,659	$ 1,709
Balance at beginning of period at Mar. 31, 2022	[1]	127,765
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions during the year	[1]	0
Balance at end of period at Jun. 30, 2022	[1]	$ 127,765
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	[1]	$ 0.15
[1]Certain prior period amounts were reclassified to conform to the current period presentation, see Note 2.[2]Attributable to Oppenheimer Holdings, Inc.[3]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net income	$ 5,058	$ 69,817
Non-cash items included in net income:
Depreciation and amortization of furniture, equipment and leasehold improvements	3,806	3,945
Deferred income taxes	3,026	(3,320)
Amortization of notes receivable	6,995	6,677
Amortization of debt issuance costs	126	125
Provision for credit losses	94	3,008
Share-based compensation	(2,589)	26,133
Amortization of right-of-use lease assets	13,170	13,008
Decrease (increase) in operating assets:
Deposits with clearing organizations	(32,600)	1,579
Receivable from brokers, dealers and clearing organizations	2,004	(31,950)
Receivable from customers	(66,723)	(117,313)
Securities purchased under agreements to resell	935	0
Securities owned	13,232	66,455
Notes receivable	(12,111)	(12,635)
Other assets	24,394	96,652
Increase (decrease) in operating liabilities:
Drafts payable	10,020	17,133
Payable to brokers, dealers and clearing organizations	(33,590)	89,235
Payable to customers	(37,643)	(40,629)
Securities sold under agreements to repurchase	(106,354)	(110,837)
Securities sold but not yet purchased	182,694	(13,333)
Accrued compensation	(160,196)	(40,906)
Accounts payable and other liabilities	(45,119)	(2,704)
Cash (used in)/provided by operating activities	(231,371)	20,140
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements	(2,307)	(6,739)
Proceeds from the settlement of Company-owned life insurance	1,191	1,308
Cash used in investing activities	(1,116)	(5,431)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(3,730)	(3,030)
Repurchase of Class A non-voting common stock for cancellation	(46,375)	0
Payments for employee taxes withheld related to vested share-based awards	(2,251)	(4,883)
Debt issuance costs	0	(22)
Increase/(decrease) in bank call loans, net	107,800	(2,400)
Cash provided by/(used in) financing activities	55,444	(10,335)
Net (decrease)/increase in cash, cash equivalents and restricted cash	(177,043)	4,374
Cash, cash equivalents and restricted cash, beginning of period	341,524	35,424
Cash, cash equivalents and restricted cash, end of period	164,481	39,798
Reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets:
Cash and cash equivalents	36,606	39,798
Restricted cash	127,875	0
Total cash, cash equivalents and restricted cash	164,481	39,798
Schedule of non-cash financing activities
Employee share plan issuance	3,809	6,513
Supplemental disclosure of cash flow information
Cash paid during the period for interest	5,776	5,277
Cash paid during the period for income taxes, net	$ 22,750	$ 34,994

Organization

Organization	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Oppenheimer Holdings Inc. ("OPY" or the "Parent") is incorporated under the laws of the State of Delaware. The condensed consolidated financial statements include the accounts of OPY and its consolidated subsidiaries (together, the "Company"). Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading middle market investment bank and full service broker-dealer that is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (corporate and public finance), equity and fixed income research, market-making, trust services, and investment advisory and asset management services. The Company is headquartered in New York and has 91 retail branch offices in the United States and institutional businesses located in London, Tel Aviv, and Hong Kong. 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, 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, Germany, and Switzerland, which provides institutional equities and fixed income brokerage and corporate finance and is regulated by the Financial Conduct Authority; and Oppenheimer Investments Asia Limited, based in Hong Kong, China, which provides fixed income and equities brokerage services to institutional investors and is regulated by the Securities and Futures Commission.

Summary of significant accounti

Summary of significant accounting policies and estimates	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of significant accounting policies and estimates	Summary of significant accounting policies and estimates Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the audited consolidated financial statements but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three-month and six-month period ended June 30, 2022 are not necessarily indicative of the results to be expected for any future interim or annual period. Reclassification Effective this quarter, the Company reclassified certain stockholders' equity amounts on the condensed consolidated balance sheet and condensed consolidated statements of changes in stockholders' equity. The reclassification included separately presenting the par value of common stocks, and combining previously disclosed share capital and contributed capital amounts in the currently reported additional paid-in capital amount. The reclassification had no impact on previously reported total stockholders’ equity amounts. Oppenheimer Acquisition Corp. I On October 26, 2021, Oppenheimer Acquisition Corp. I (“OHAA”) consummated its $126.5 million initial public offering (the “OHAA IPO”). OHAA is a special purpose acquisition company, incorporated in Delaware for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (a “Business Combination”). Oppenheimer Acquisition LLC I (the “Sponsor”), a Delaware series limited liability company and the Company’s subsidiary, is the sponsor of OHAA. The Company and its employees control OHAA through the Sponsor’s ownership of Class A founder shares of OHAA. As a result, both OHAA and the Sponsor are consolidated in the Company’s financial statements. Funds totaling $127.8 million, including proceeds from the OHAA IPO of $126.5 million and $1.3 million in investment from the Sponsor, are held in a trust account until the earlier of (i) the completion of a Business Combination or (ii) ten Transaction costs, which consisted of a net underwriting fee of $2.5 million and $0.5 million of other offering costs, were charged during the fourth quarter of 2021 against the gross proceeds of the OHAA IPO consistent with SEC Staff Accounting Bulletin (SAB) Topic 5. “Redeemable noncontrolling interests” of $127.8 million associated with the publicly held OHAA Class A ordinary shares are recorded on the Company’s consolidated balance sheet as of June 30, 2022 at redemption value and classified as temporary equity in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity”. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable noncontrolling interests shall be affected by charges to additional paid-in-capital and noncontrolling interests attributable to certain members of the Sponsor on a pro rata ownership basis. The public warrants and private warrants exercisable for OHAA Class A ordinary shares that were issued in connection with the OHAA IPO (the “OHAA Warrants”) qualify for equity accounting treatment under FASB ASC Topic 815. Oppenheimer Principal Investments LLC Oppenheimer Principal Investments LLC ("OPI") is a Delaware special purpose "Series" limited liability company formed in December 2020 and designed to retain and reward talented employees of the Company, primarily in connection with the deployment of Company capital into successful private market investments, and also in connection with the Company's receipt of non-cash compensation from investment banking assignments. OPI is designed to promote alignment of Company, client and employee interests as they relate to profitable investment opportunities. This program acts as an incentive for senior employees to identify attractive private investments for the Company and its clients, and as a retention tool for key employees of the Company. OPI treats its members as partners for tax purposes generally and with respect to the separate Series formed to participate in (i) the incentive fees generated by successful client investments in the Company's Private Market Opportunities program, or (ii) principal investments made by the Company or a portion of the gains thereon, either through the outright purchase of an investment or consideration earned in lieu of an investment banking fee or other transaction fee. Employees who become members of a Series receive a "profit interest", as that term is used in IRS regulations, and receive an allocation of capital appreciation of the investment held by the particular Series that exceeds a threshold amount established for each Series. Participating employees are also subject to vesting and forfeiture requirements for each Series investment. The Company’s policy is to consolidate those entities where it owns the majority voting interests. The Company owns the majority voting interest of OPI through Oppenheimer Alternative Investment Management (“OAIM”), the managing member of OPI and a subsidiary of OAM. Pursuant to the Company’s policy for consolidation, the Company consolidates OPI. Noncontrolling Interests Noncontrolling interests represents ownership interests in the Sponsor of OHAA, OHAA Class A founder and Class A ordinary shares held by management and employees of the Company, as well as OHAA Class B shares held by directors and officers of OHAA and an employee of the Company. Noncontrolling interests also include publicly held warrants to purchase OHAA Class A ordinary shares. Additionally, noncontrolling interests includes the profits allocated to employees who have profit interests in OPI's Series. Restricted Cash Restricted cash represents OHAA deposits held in trust as indicated above.

Financial Instruments - Credit

Financial Instruments - Credit Losses	6 Months Ended
	Jun. 30, 2022
Credit Loss [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses The Company follows ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". The Company can elect to use an approach to measure the allowance for credit losses using the fair value of collateral where the borrower is required to, and reasonably expected to, continually adjust and replenish the amount of collateral securing the instrument to reflect changes in the fair value of such collateral. The Company has elected to use this approach for securities borrowed, margin loans, and reverse repurchase agreements. No material historical losses have been reported on these assets. See note 9 for details. As of June 30, 2022, the Company had $59.1 million of notes receivable ($54.0 million as of December 31, 2021). Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisors and key revenue producers as part of the Company's overall growth strategy. These notes generally amortize over a service period of 3 to 10 years from the initial date of the note or based on productivity levels of the respective 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. At this point, any uncollected portion of the notes is reclassified into a defaulted notes category. The allowance for uncollectibles is a valuation account that is deducted from the amortized cost basis of the defaulted notes balance to present the net amount expected to be collected. Balances are charged-off against the allowance when management deems the amount to be uncollectible. The Company reserves 100% of the uncollected balance of defaulted notes which are five years and older and applies an expected loss rate to the remaining balance. The expected loss rate is based on historical collection rates of defaulted notes. The expected loss rate is adjusted for changes in market conditions such as changes in unemployment rates, changes in interest rates and other relevant factors. For the three months and six months ended June 30, 2022, no adjustments were made to the expected loss rates. The Company will continuously monitor the effect of these factors on the expected loss rate and adjust it as necessary. The allowance is measured on a pool basis as the Company has determined that the entire defaulted portion of notes receivable has similar risk characteristics. As of June 30, 2022, the uncollected balance of defaulted notes was $7.4 million and the allowance for uncollectibles was $5.1 million. The allowance for uncollectibles consisted of $3.4 million related to defaulted notes balances (five years and older) and $1.7 million related to defaulted notes balances (under five years). The following table presents the disaggregation of defaulted notes by year of default as of June 30, 2022: (Expressed in thousands) As of June 30, 2022 2022 $ 578 2021 2,332 2020 568 2019 356 2018 138 2017 and prior 3,452 Total $ 7,424 The following table presents activity in the allowance for uncollectibles of defaulted notes for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Beginning balance $ 5,247 $ 4,766 $ 4,923 $ 4,234 Additions and other adjustments (141) (65) 183 467 Ending balance $ 5,106 $ 4,701 $ 5,106 $ 4,701

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases The Company and its subsidiaries have operating leases for office space and equipment expiring at various dates through 2034. The Company leases its corporate headquarters at 85 Broad Street, New York, New York which houses its executive management team and many administrative functions for the firm as well as its research, trading, investment banking, and asset management divisions and an office in Troy, Michigan, which among other things, houses its payroll and human resources departments. In addition, the Company has 91 retail branch offices in the United States as well as offices in London, England, St. Helier, Isle of Jersey, Geneva, Switzerland, Munich, Germany, Tel Aviv, Israel and Hong Kong, China. The Company is constantly assessing its needs for office space and, on a rolling basis, has many leases that expire in any given year. The majority of the leases are held by the Company's subsidiary, Viner Finance Inc., which is a consolidated subsidiary and 100% owned by the Company. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Most leases include an option to renew and the exercise of lease renewal options is at the Company's sole discretion. The Company did not include the renewal options as part of the right of use assets and liabilities. The depreciable life of assets and leasehold improvements is limited by the expected lease term. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of June 30, 2022, the Company had right-of-use operating lease assets of $146.1 million (net of accumulated amortization of $74.2 million) which are comprised of real estate leases of $143.3 million (net of accumulated amortization of $71.8 million) and equipment leases of $2.8 million (net of accumulated amortization of $2.4 million). As of June 30, 2022, the Company had operating lease liabilities of $187.5 million which are comprised of real estate lease liabilities of $184.8 million and equipment lease liabilities of $2.7 million. The Company had no finance leases or embedded leases as of June 30, 2022. As most of the Company's leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date. The Company used the incremental borrowing rate as of the lease commencement date for the operating leases that commenced subsequent to January 1, 2019. The following table presents the weighted average lease term and weighted average discount rate for the Company's operating leases as of June 30, 2022 and December 31, 2021, respectively: As of June 30, 2022 December 31, 2021 Weighted average remaining lease term (in years) 7.06 7.38 Weighted average discount rate 6.81% 6.89% The following table presents operating lease costs recognized for the three and six months ended June 30, 2022 and June 30, 2021, respectively, which are included in occupancy and equipment costs on the condensed consolidated income statements: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 6,189 $ 6,062 $ 12,346 $ 12,118 Real estate leases - Interest expense 3,267 3,607 6,623 7,203 Equipment leases - Right-of-use lease asset amortization 410 445 824 890 Equipment leases - Interest expense 35 37 67 76 The maturities of lease liabilities as of June 30, 2022 and December 31, 2021 are as follows: (Expressed in thousands) As of June 30, 2022 December 31, 2021 2022 $ 21,196 $ 41,696 2023 40,578 38,477 2024 35,700 33,573 2025 29,902 27,703 2026 28,368 26,342 After 2026 81,723 78,593 Total lease payments $ 237,467 $ 246,384 Less interest (49,936) (54,365) Present value of lease liabilities $ 187,531 $ 192,019

Revenues from contracts with cu

Revenues from contracts with customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers	Revenue from contracts with customers Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised goods or services to customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the goods or services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the predictive value of its past experiences, the time period during which uncertainties are expected to be resolved and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties. The Company earns revenue from contracts with customers and other sources (principal transactions, interest and other). The following provides detailed information on the recognition of the Company's revenue from contracts with customers: Commissions Commissions from Sales and Trading — The Company earns commission revenue by executing, settling and clearing transactions with clients primarily in exchange-traded and over-the-counter corporate equity and debt securities, money market instruments and exchange-traded options and futures contracts. A substantial portion of the Company's revenue is derived from commissions from private clients through accounts with transaction-based pricing. Trade execution and clearing services, when provided together, represent a single performance obligation, as the services are not separately identifiable in the context of the contract. Commission revenue associated with combined trade execution and clearing services, as well as trade execution services on a standalone basis, is recognized at a point in time on trade date when the performance obligation is satisfied. Commission revenue is generally paid on settlement date, which is generally two Mutual Fund Income — The Company earns mutual fund income for sales and distribution of mutual fund shares, which consists of a fixed fee amount and a variable amount. The Company recognizes mutual fund income at a point in time on the trade date when the performance obligation is satisfied which is when the mutual fund interest is sold to the investor. The ongoing distribution fees for distributing investment products from mutual fund companies are generally considered variable consideration because they are based on the value of AUM and are uncertain on trade date. The Company recognizes distribution fees over the investment period as the amounts become known and the portion recognized in the current period may relate to distribution services performed in prior periods. Mutual fund income is generally received within 90 days. Advisory Fees The Company earns management and performance (or incentive) fees in connection with the advisory and asset management services it provides to various types of funds, asset-based programs and investment vehicles through its subsidiaries. Management fees are generally based on the account value at the valuation date per the respective asset management agreements and are recognized over time as the customer receives the benefits of the services evenly throughout the term of the contract. Performance fees are recognized when the return on client AUM exceeds a specified benchmark return or as other performance targets over a 12-month measurement period are met. Performance fees are considered variable as they are subject to fluctuation and/or are contingent on a future event over the measurement 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. Both management and performance fees are generally received within 90 days. Investment Banking The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public offerings, follow-on offerings, equity-linked offerings, private investments in public entities, and private placements. Underwriting revenues are recognized at a point in time on trade date, as the client obtains the control and benefit of the capital markets offering at that point. These fees are generally received within 90 days after the transactions are completed. 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 and related expenses are presented gross on the condensed consolidated income statements. Revenue from financial advisory services includes fees generated in connection with mergers, acquisitions, and restructuring transactions. Such revenue and fees are primarily recorded at a point in time when services for the transactions are completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Payment for advisory services is generally due upon completion of the transaction or milestone. Retainer fees and fees earned from certain advisory services are recognized ratably over the service period as the customer receives the benefit of the services throughout the term of the contracts, and such fees are collected based on the terms of the contracts. Bank Deposit Sweep Income Bank deposit sweep income consists of revenue earned from the FDIC-insured 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. Fees are earned over time and are generally received within 30 days. Disaggregation of Revenue The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) For the Three Months Ended June 30, 2022 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 38,108 $ 48,425 $ 6 $ 86,539 Mutual fund and insurance income 7,808 1 30 7,839 Advisory fees 83,085 24,311 — 9 107,405 Investment banking - capital markets 2,359 6,010 — 8,369 Investment banking - advisory — 8,284 — 8,284 Bank deposit sweep income 14,845 — — 14,845 Other 4,807 — 479 66 5,352 Total revenue from contracts with customers 151,012 24,311 63,199 111 238,633 Other sources of revenue: Interest 10,369 1,392 28 11,789 Principal transactions, net (2,233) 6,564 (3,073) 1,258 Other (14,677) 4 119 96 (14,458) Total other sources of revenue (6,541) 4 8,075 (2,949) (1,411) Total revenue $ 144,471 $ 24,315 $ 71,274 $ (2,838) $ 237,222 (Expressed in thousands) For the Three Months Ended June 30, 2021 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 44,510 $ — $ 42,407 $ 4 $ 86,921 Mutual fund and insurance income 9,243 — 2 5 9,250 Advisory fees 85,598 25,541 — 13 111,152 Investment banking - capital markets 5,770 — 48,208 — 53,978 Investment banking - advisory 250 — 50,514 — 50,764 Bank deposit sweep income 3,712 — — — 3,712 Other 4,474 — 202 19 4,695 Total revenue from contracts with customers 153,557 25,541 141,333 41 320,472 Other sources of revenue: Interest 7,235 — 1,666 8 8,909 Principal transactions, net 1,546 — 4,878 (119) 6,305 Other 4,525 3 68 11 4,607 Total other sources of revenue 13,306 3 6,612 (100) 19,821 Total revenue $ 166,863 $ 25,544 $ 147,945 $ (59) $ 340,293 (Expressed in thousands) For the Six Months Ended June 30, 2022 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 81,463 $ — 95,061 17 $ 176,541 Mutual fund and insurance income 16,130 — 6 22 16,158 Advisory fees 171,613 51,424 117 17 223,171 Investment banking - capital markets 5,665 — 19,234 — 24,899 Investment banking - advisory 35 — 30,189 — 30,224 Bank deposit sweep income 19,199 — — — 19,199 Other 7,642 — 797 188 8,627 Total revenue from contracts with customers 301,747 51,424 145,404 244 498,819 Other sources of revenue: Interest 18,517 — 2,685 104 21,306 Principal transactions, net (4,166) — 8,080 (292) 3,622 Other (20,780) 8 156 119 (20,497) Total other sources of revenue (6,429) 8 10,921 (69) 4,431 Total revenue $ 295,318 $ 51,432 $ 156,325 $ 175 $ 503,250 (Expressed in thousands) For the Six Months Ended June 30, 2021 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 92,908 $ — $ 98,207 $ 1 $ 191,116 Mutual fund and insurance income 18,441 — 4 81 18,526 Advisory fees 165,852 49,768 3 25 215,648 Investment banking - capital markets 14,280 — 128,277 — 142,557 Investment banking - advisory 250 — 86,436 — 86,686 Bank deposit sweep income 7,720 — — — 7,720 Other 7,594 — 761 33 8,388 Total revenue from contracts with customers 307,045 49,768 313,688 140 670,641 Other sources of revenue: Interest 13,711 — 3,818 46 17,575 Principal transactions, net 2,176 — 13,832 1,162 17,170 Other 7,954 6 206 23 8,189 Total other sources of revenue 23,841 6 17,856 1,231 42,934 Total revenue $ 330,886 $ 49,774 $ 331,544 $ 1,371 $ 713,575 Contract Balances The timing of the Company's revenue recognition may differ from the timing of payment by its customers. The Company records receivables when revenue is recognized prior to payment and it has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company had receivables related to revenue from contracts with customers of $25.1 million and $37.2 million at June 30, 2022 and December 31, 2021, respectively. The Company had no significant impairments related to these receivables during the three months ended June 30, 2022. Deferred revenue relates to IRA fees received annually in advance on customers' IRA accounts and retainer fees and other fees earned from certain advisory transactions where the performance obligations have not yet been satisfied. Total deferred revenue was $2.0 million and $235,000 at June 30, 2022 and December 31, 2021, respectively. The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2022 December 31, 2021 Contract assets (receivables): Commission (1) $ 3,912 $ 2,886 Mutual fund income (2) 5,636 6,205 Advisory fees (3) 3,909 4,546 Bank deposit sweep income (4) 4,258 595 Investment banking fees (5) 4,418 17,765 Other 2,975 5,195 Total contract assets $ 25,108 $ 37,192 Deferred revenue (payables): Investment banking fees (6) $ 481 $ 235 IRA fees (7) 1,529 — Total deferred revenue $ 2,010 $ 235 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received. (6) Retainer fees and fees received from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Fee received in advance on an annual basis.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share are computed by dividing net income over the weighted average number of shares of Class A non-voting common stock ("Class A Stock") and Class B voting common stock ("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 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 Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Basic weighted average number of shares outstanding 11,980,115 12,689,191 12,222,527 12,634,464 Net dilutive effect of share-based awards, treasury stock method (1) — 991,955 919,011 861,125 Diluted weighted average number of shares outstanding 11,980,115 13,681,146 13,141,538 13,495,589 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (3,874) $ 31,159 $ 5,418 $ 69,817 Earnings (Loss) per share attributable to Oppenheimer Holdings Inc. Basic $ (0.32) $ 2.46 $ 0.44 $ 5.53 Diluted $ (0.32) $ 2.28 $ 0.41 $ 5.17

Receivable from and payable to

Receivable from and payable to brokers, dealers and clearing organizations	6 Months Ended
	Jun. 30, 2022
Broker-Dealer [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 June 30, 2022 December 31, 2021 Receivable from brokers, dealers and clearing organizations consists of: Securities borrowed $ 79,038 $ 99,752 Receivable from brokers 42,255 39,716 Securities failed to deliver 26,705 9,212 Clearing organizations 19,355 19,518 Other 545 1,704 Total $ 167,898 $ 169,902 Payable to brokers, dealers and clearing organizations consists of: Securities loaned $ 281,407 $ 244,223 Securities failed to receive 50,028 6,457 Payable to brokers 3,357 2,077 Clearing organizations and other (1) 53,675 169,300 Total $ 388,467 $ 422,057 (1) The balances are primarily related to a trade/settlement date adjustment for U.S. Government Securities.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2022
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. 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 values non-agency securities collateralized by home equity and various other types of collateral 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. Auction Rate Securities ("ARS") Background 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 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. As of September 30, 2021, the Company had completed its ARS purchase obligations related to the settlements with the Regulators. In addition to the settlements with the Regulators, Oppenheimer had also reached settlements of and received adverse awards in legal proceedings with various clients where the Company was obligated to purchase ARS. As of June 30, 2022, the Company no longer had any obligations to purchase ARS from such legal settlements or adverse awards. As of June 30, 2022, the Company owned $32.0 million of ARS. This amount represents the unredeemed or unsold amount that the Company holds as a result of ARS buybacks pursuant to the settlements with the Regulators and legal settlements and awards referred to above. Valuation The Company’s ARS owned referred to above have, for the most part, been subject to issuer tender offers. The Company has valued the ARS securities owned at the tender offer price and categorized them in Level 3 of the fair value hierarchy due to the illiquid nature of the securities and the period of time since the last tender offer. The fair value of ARS is particularly sensitive to movements in interest rates. However, an increase or decrease in short-term interest rates may or may not result in a higher or lower tender offer in the future or the tender offer price may not provide a reasonable estimate of the fair value of the securities. In such cases, other valuation techniques might be necessary. As of June 30, 2022, the Company had a valuation adjustment totaling $5.2 million relating to ARS owned (which is included as a reduction to securities owned on the condensed consolidated balance sheet). 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 June 30, 2022: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 700 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 8,960 3,075 N/A N/A $ 9,660 $ 3,075 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2021: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 900 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,621 4,035 N/A N/A $ 5,521 $ 4,035 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources. During 2020, the Company made an investment in a financial technologies firm. The Company elected the fair value option for this investment and it is included in other assets on the condensed consolidated balance sheet. The Company determined the fair value of the investment based on an implied market-multiple approach and observable market data, including comparable company transactions. As of June 30, 2022, the fair value of the investment was $4.6 million and was categorized in Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value The Company's assets and liabilities, recorded at fair value on a recurring basis as of June 30, 2022, and December 31, 2021, 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 June 30, 2022 : (Expressed in thousands) Fair Value Measurements as of June 30, 2022 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 41,189 $ — $ — $ 41,189 Securities owned: U.S. Treasury securities 367,425 — — 367,425 U.S. Agency securities — 5,538 — 5,538 Sovereign obligations — 452 — 452 Corporate debt and other obligations — 9,382 — 9,382 Mortgage and other asset-backed securities — 2,084 — 2,084 Municipal obligations — 162,530 — 162,530 Convertible bonds — 14,557 — 14,557 Corporate equities 27,013 — — 27,013 Money markets 314 — — 314 Auction rate securities — — 31,977 31,977 Securities owned, at fair value 394,752 194,543 31,977 621,272 Investments (1) — 9,150 — 9,150 Total $ 435,941 $ 203,693 $ 31,977 $ 671,611 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 233,450 $ — $ — $ 233,450 U.S. Agency securities — 3 — 3 Corporate debt and other obligations — 4,867 — 4,867 Convertible bonds — 5,900 — 5,900 Corporate equities 10,431 — — 10,431 Securities sold but not yet purchased, at fair value 243,881 10,771 — 254,652 Derivative contracts: Futures 371 — — 371 TBAs — 3 — 3 Derivative contracts, total 371 3 — 374 Total $ 244,252 $ 10,774 $ — $ 255,026 (1) Included in other assets on the condensed consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: (Expressed in thousands) Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 29,083 $ — $ — $ 29,083 Securities owned: U.S. Treasury securities 505,875 — — 505,875 U.S. Agency securities — 5,622 — 5,622 Sovereign obligations — 1,494 — 1,494 Corporate debt and other obligations — 8,111 — 8,111 Mortgage and other asset-backed securities — 3,889 — 3,889 Municipal obligations — 18,520 — 18,520 Convertible bonds — 13,778 — 13,778 Corporate equities 45,380 — — 45,380 Money markets 31 — — 31 Auction rate securities — — 31,804 31,804 Securities owned, at fair value 551,286 51,414 31,804 634,504 Investments (1) — 12,970 — 12,970 Derivative contracts: TBAs — 92 — 92 Total $ 580,369 $ 64,476 $ 31,804 $ 676,649 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 42,298 $ — $ — $ 42,298 U.S. Agency securities — 4 — 4 Corporate debt and other obligations — 2,515 — 2,515 Convertible bonds — 8,462 — 8,462 Corporate equities 18,679 — — 18,679 Securities sold but not yet purchased, at fair value 60,977 10,981 — 71,958 Derivative contracts: Futures 287 — — 287 TBAs — 81 — 81 Derivative contracts, total 287 81 — 368 Total $ 61,264 $ 11,062 $ — $ 72,326 (1) Included in other assets on the condensed consolidated balance sheet. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2022 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,804 $ (27) $ 200 $ — $ — $ 31,977 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2021 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Gains (Losses) (3)(4) and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,470 $ 2 $ — $ (50) $ — $ 31,422 Liabilities ARS Purchase Commitments (2) 65 (1) — — — 66 (1) Represents auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated income statement. (4) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. Level 3 Assets and Liabilities For the Six Months Ended June 30, 2022 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,804 $ (27) $ 200 $ — $ — $ 31,977 1) Represents auction rate securities that failed in the auction rate market. . Level 3 Assets and Liabilities For the Six Months Ended June 30, 2021 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses (3)(4) and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 30,701 $ (129) $ 1,875 $ (1,025) $ — $ 31,422 Liabilities ARS Purchase Commitments (2) 195 (1) — (130) — 66 (1) Represents auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated income statement. (4) Unrealized losses are attributable to assets or liabilities that are still held at the reporting date. Financial Instruments Not Measured at Fair Value The table below presents the carrying value, fair value and fair value hierarchy category of certain financial instruments that are not measured at fair value on the condensed consolidated balance sheets. The table below excludes non-financial assets and liabilities (e.g., furniture, equipment and leasehold improvements, and accrued compensation). The carrying value of financial instruments not measured at fair value categorized in the fair value hierarchy as Level 1 or Level 2 (e.g., cash and receivables from customers) approximates fair value because of the relatively short-term nature of the underlying assets. The fair value of the Company's senior secured notes, categorized in Level 2 of the fair value hierarchy, is based on quoted prices from the market in which the notes trade. Assets and liabilities not measured at fair value as of June 30, 2022: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 36,606 $ 36,606 $ — $ — $ 36,606 Restricted cash 127,875 127,875 — — 127,875 Deposits with clearing organization 58,379 58,379 — — 58,379 Receivable from brokers, dealers and clearing organizations: Securities borrowed 79,038 — 79,038 — 79,038 Receivables from brokers 42,255 — 42,255 — 42,255 Securities failed to deliver 26,705 — 26,705 — 26,705 Clearing organizations 19,355 — 19,355 — 19,355 Other 548 — 548 — 548 167,901 — 167,901 — 167,901 Receivable from customers 1,288,079 — 1,288,079 — 1,288,079 Notes receivable, net 59,099 — 59,099 — 59,099 Investments (1) 78,246 — 78,246 — 78,246 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 10,020 $ 10,020 $ — $ — $ 10,020 Bank call loans $ 177,300 $ — $ 177,300 $ — $ 177,300 Payables to brokers, dealers and clearing organizations: Securities loaned 281,407 — 281,407 — 281,407 Payable to brokers 3,357 — 3,357 — 3,357 Securities failed to receive 50,028 — 50,028 — 50,028 Other 53,304 — 53,304 — 53,304 388,096 — 388,096 — 388,096 Payables to customers 419,315 — 419,315 — 419,315 Securities sold under agreements to repurchase 170,968 — 170,968 — 170,968 Senior secured notes 125,000 — 125,213 — 125,213 Assets and liabilities not measured at fair value as of December 31, 2021: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 213,759 $ 213,759 $ — $ — $ 213,759 Restricted cash 127,765 127,765 — — 127,765 Deposits with clearing organization 37,885 37,885 — — 37,885 Receivable from brokers, dealers and clearing organizations: Securities borrowed 99,752 — 99,752 — 99,752 Receivables from brokers 39,716 — 39,716 — 39,716 Securities failed to deliver 9,212 — 9,212 — 9,212 Clearing organizations 19,518 — 19,518 — 19,518 Other 1,693 — 1,693 — 1,693 169,891 — 169,891 — 169,891 Receivable from customers 1,221,450 — 1,221,450 — 1,221,450 Securities purchased under agreements to resell 935 — 935 — 935 Notes receivable, net 53,983 — 53,983 — 53,983 Investments (1) 99,169 — 99,169 — 99,169 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Bank call loans $ 69,500 $ — $ 69,500 $ — $ 69,500 Payables to brokers, dealers and clearing organizations: Securities loaned 244,223 — 244,223 — 244,223 Payable to brokers 2,077 — 2,077 — 2,077 Securities failed to receive 6,457 — 6,457 — 6,457 Other 169,013 — 169,013 — 169,013 421,770 — 421,770 — 421,770 Payables to customers 456,958 — 456,958 — 456,958 Securities sold under agreements to repurchase 277,322 — 277,322 — 277,322 Senior secured notes 125,000 — 131,094 — 131,094 Fair Value Option The Company elected the fair value option for securities sold under agreements to repurchase ("repurchase agreements") and securities purchased under agreements to resell ("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 reflect more accurately market and economic events in its earnings and to mitigate a potential mismatch in earnings caused by using different measurement attributes (i.e. fair value versus carrying value) for certain assets and liabilities. As of June 30, 2022, the Company did not have any repurchase agreements and reverse repurchase agreements that do not settle overnight or have an open settlement date. Derivative Instruments and Hedging Activities The Company transacts, on a limited basis, in exchange traded and over-the-counter derivatives for both asset and liability management as well as for trading and investment purposes. Risks managed using derivative instruments include interest rate risk and, to a lesser extent, foreign exchange risk. All derivative instruments are measured at fair value and are recognized as either assets or liabilities on the condensed consolidated balance sheet. Foreign exchange hedges From time to time, the Company also utilizes forward and options contracts to hedge the foreign currency risk associated with compensation obligations to Oppenheimer Israel (OPCO) Ltd. employees denominated in New Israeli Shekel ("NIS"). Such hedges have not been designated as accounting hedges. Unrealized gains and losses on foreign exchange forward contracts are recorded in other assets on the condensed consolidated balance sheet and other income in the condensed consolidated income statement. Derivatives used for trading and investment purposes Futures contracts represent commitments to purchase or sell securities or other commodities at a future date and at a specified price. Market risk exists with respect to these instruments. Notional or contractual amounts are used to express the volume of these transactions and do not represent the amounts potentially subject to market risk. The Company uses futures contracts, including U.S. Treasury notes, Federal Funds, General Collateral futures, and Eurodollar contracts primarily as an economic hedge of interest rate risk associated with government trading activities. Unrealized gains and losses on futures contracts are recorded on the condensed consolidated balance sheet in payable to brokers, dealers and clearing organizations and in the condensed consolidated income statement as principal transactions revenue, net. To-be-announced securities The Company also transacts in pass-through mortgage-backed securities eligible to be sold in the TBA market as economic hedges against mortgage-backed securities that it owns or has sold but not yet purchased. TBAs provide for the forward or delayed delivery of the underlying instrument with settlement up to 180 days. The contractual or notional amounts related to these financial instruments reflect the volume of activity and do not reflect the amounts at risk. Net unrealized gains and losses on TBAs are recorded on the condensed consolidated balance sheet in receivable from brokers, dealers and clearing organizations or payable to brokers, dealers and clearing organizations and in the condensed consolidated income statement as principal transactions revenue, net. The notional amounts and fair values of the Company's derivatives as of June 30, 2022 and December 31, 2021 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of June 30, 2022 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 3,842 $ — Forward reverse repurchase agreements 123,350 — $ 127,192 $ — Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 1,175,600 $ 371 Other contracts TBAs 3,842 3 $ 1,179,442 $ 374 (1) See "Derivative Instruments and Hedging Activities" above for a 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, 2021 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 14,300 $ 92 $ 14,300 $ 92 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 3,520,000 $ 287 Other contracts TBAs 14,300 81 $ 3,534,300 $ 368 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. The following table presents the location and fair value amounts of the Company's derivative instruments and their effect in the condensed consolidated income statements for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2022 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue, net $ 1,328 Other contracts Foreign exchange forward contracts Other revenue (20) Other contracts TBAs Principal transactions revenue, net (6) $ 1,302 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2021 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue, net $ (525) Other contracts Foreign exchange forward contracts Other revenue (8) TBAs Principal transactions revenue, net 14 Purchase commitments Principal transactions revenue, net (490) ARS purchase commitments Principal transactions revenue, net (1) $ (1,010) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2022 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue $ 3,519 Other contracts Foreign exchange forward contracts Other revenue (20) TBAs Principal transactions revenue 56 $ 3,555 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2021 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue $ 495 Other contracts Foreign exchange forward contracts Other revenue (8) TBAs Principal transactions revenue 51 Purchase commitments Principal transactions revenue (490) ARS purchase commitments Principal transactions revenue (1) $ 47

Collateralized transactions

Collateralized transactions	6 Months Ended
	Jun. 30, 2022
Broker-Dealer [Abstract]
Collateralized transactions	Collateralized transactions The Company enters into collateralized borrowing and lending transactions in order to meet customers' needs and earn 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. As of June 30, 2022, the outstanding balance of bank call loans was $177.3 million ($69.5 million as of December 31, 2021). Such loans with commercial banks were collateralized by the Company's securities and customer securities with market values of approximately $55.9 million and $145.0 million, respectively. As of June 30, 2022, the Company had approximately $1.7 billion of customer securities under customer margin loans that are available to be pledged, of which the Company has re-pledged approximately $236.3 million under securities loan agreements. As of June 30, 2022, the Company had pledged $518.5 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers. As of June 30, 2022, the Company had no outstanding letters of credit. The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions in order to, among other things, acquire securities to cover short positions and settle other securities obligations, so as to accommodate customers' needs and to finance the Company's inventory positions. Except as described below, repurchase and reverse repurchase agreements, principally involving U.S. 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 agreements and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase agreements 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 agreements 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 June 30, 2022: (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government and Agency securities $ 411,713 Securities loaned: Equity securities 281,407 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 693,120 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 June 30, 2022 and December 31, 2021: As of June 30, 2022 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 240,745 $ (240,745) $ — $ — $ — $ — Securities borrowed (1) 79,038 — 79,038 (78,758) — 280 Total $ 319,783 $ (240,745) $ 79,038 $ (78,758) $ — $ 280 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 411,713 $ (240,745) $ 170,968 $ (170,691) $ — $ 277 Securities loaned (2) 281,407 — 281,407 (266,801) — 14,606 Total $ 693,120 $ (240,745) $ 452,375 $ (437,492) $ — $ 14,883 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. As of December 31, 2021 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 30,406 $ (29,471) $ 935 $ — $ — $ 935 Securities borrowed (1) 99,752 — 99,752 (96,929) — 2,823 Total $ 130,158 $ (29,471) $ 100,687 $ (96,929) $ — $ 3,758 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 306,793 $ (29,471) $ 277,322 $ (276,992) $ — $ 330 Securities loaned (2) 244,223 — 244,223 (236,597) — 7,626 Total $ 551,016 $ (29,471) $ 521,545 $ (513,589) $ — $ 7,956 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. 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. As of June 30, 2022, the Company did not have any repurchase agreements or reverse repurchase agreements that do not settle overnight or have an open settlement date. 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 June 30, 2022, the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $76.1 million ($96.4 million as of December 31, 2021) and $240.9 million ($307.3 million as of December 31, 2021), respectively, of which the Company has sold and re-pledged approximately $31.6 million ($29.4 million as of December 31, 2021) under securities loaned transactions and $240.9 million under repurchase agreements ($307.3 million as of December 31, 2021). 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 $316.6 million, as presented on the face of the condensed consolidated balance sheet as of June 30, 2022 ($266.4 million as of December 31, 2021). 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 credit 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 June 30, 2022 were receivables from three major U.S. broker-dealers totaling approximately $61.7 million. 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 two . In addition, the Company clears its non-U.S. international equities business carried on by Oppenheimer Europe Ltd. through Global Prime Partners, Ltd, a global clearing financial institution located in United Kingdom. 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 June 30, 2022, 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.

Variable interest entities ("VI

Variable interest entities ("VIEs")	6 Months Ended
	Jun. 30, 2022
Variable Interest Entity [Abstract]
Variable interest entities ("VIEs")	Variable interest entities ("VIEs") 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. The Company serves as general partner of hedge funds and private equity funds that were established for the purpose of providing alternative investments to both its institutional and qualified retail clients. The Company's investment in and additional capital commitments to these hedge funds and private equity funds are considered variable interests. The Company's additional capital commitments are subject to call at a later date and are limited to the amount committed. 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 and additional capital commitments represent the Company's maximum exposure to loss. The subsidiaries' general partnership and limited partnership interests are included in other assets on the condensed consolidated balance sheet. In addition, the Company serves as general partner of the Sponsor and Oppenheimer Acquisition LLC II (the "Sponsors"). They are sponsors of two Special Purpose Acquisition Companies, respectively, OHAA and Oppenheimer Acquisition Corp. II (together, the "SPACs”), that are seeking to effect a transaction which could be in the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Sponsors and the SPACs are consolidated VIEs as the Company is the primary beneficiary. On October 26, 2021, OHAA consummated its $126.5 million IPO. The Company and its employees control OHAA through the Sponsor's ownership of Class A founder shares of OHAA. As a result, both OHAA and such Sponsor are consolidated in the Company’s financial statements. The following table sets forth the total assets and liabilities of VIEs consolidated on our condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2022 2021 Asset Cash and cash equivalents $ 1,458 $ — Restricted Cash 127,875 — Other Assets 568 — Total Assets $ 129,901 $ — Liabilities Other Liabilities 123 — Total Liabilities $ 123 $ —

Long-term debt

Long-term debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term debt	Long-term debt (Expressed in thousands) Issued Maturity Date June 30, 2022 December 31, 2021 5.50% Senior Secured Notes 10/1/2025 $ 125,000 $ 125,000 Unamortized Debt Issuance Cost (800) (926) $ 124,200 $ 124,074 5.50% Senior Secured Notes due 2025 (the "Notes") On September 22, 2020, in a private offering, the Company issued $125.0 million aggregate principal amount of 5.50% Senior Secured Notes due 2025 (the "Unregistered Notes") under an Indenture at an issue price of 100% of the principal amount. Interest on the Unregistered Notes is payable semi-annually on April 1st and October 1st. The Company used the net proceeds from the offering of the Unregistered Notes, along with cash on hand, to redeem in full our 6.75% Senior Secured Notes due July 1, 2022 (the "Old Notes") in the principal amount of $150.0 million (the Company held $1.4 million in treasury for a net outstanding amount of $148.6 million), and pay all related fees and expenses in relation thereto. On November 23, 2020, we completed an exchange offer in which we exchanged 99.8% of the Unregistered Notes for a like principal amount of Notes with identical terms, except that such new notes have been registered under the Securities Act of 1933, as amended (the "Securities Act"). We did not receive any proceeds in the exchange offer. The Notes will mature on October 1, 2025 and bear interest at a rate of 5.50% per annum, payable semiannually on April 1st and October 1st, respectively, of each year. The Parent used the net proceeds from the offering of the Notes, along with cash on hand, to redeem in full its Old Notes, in the principal amount of $150.0 million (the Parent held $1.4 million in treasury for a net outstanding amount of $148.6 million), and pay all related fees and expenses in relation thereto. The cost to issue the Notes was $3.1 million, of which $1.9 million was paid to its subsidiary, Oppenheimer & Co Inc., who served as the initial purchaser of the offering, and was eliminated in consolidation. The remaining $1.2 million was capitalized and is amortized over the term of the Notes. The indenture governing the Notes contains covenants which place restrictions on the incurrence of indebtedness, the payment of dividends, the repurchase of equity, the sale of assets, the issuance of guarantees, mergers and acquisitions and the granting of liens. These covenants are subject to a number of important exceptions and qualifications. These exceptions and qualifications include, among other things, a variety of provisions that are intended to allow the Company to continue to conduct its brokerage operations in the ordinary course of business. In addition, certain of the covenants will be suspended upon the Parent attaining an investment grade debt rating for the Notes from both S&P Global Ratings and Moody’s Investors Service, Inc. Pursuant to the indenture, the following covenants apply to the Parent and its restricted subsidiaries, but generally do not apply, or apply only in part, to its Regulated Subsidiaries (as defined): • limitation on indebtedness and issuances of preferred stock, which restricts the Parent’s ability to incur additional indebtedness or to issue preferred stock; • limitation on restricted payments, which generally restricts the Parent’s ability to declare certain dividends or distributions, repurchase its capital stock or make certain investments; • limitation on dividends and other payment restrictions affecting restricted subsidiaries or Regulated Subsidiaries, which generally limits the ability of certain of the Parent’s subsidiaries to pay dividends or make other transfers; • limitation on future Subsidiary Guarantors (as hereinafter defined), which prohibits certain of the Parent’s subsidiaries from guaranteeing its indebtedness or indebtedness of any restricted subsidiary unless the Notes are comparably guaranteed; • limitation on transactions with shareholders and affiliates, which generally requires transactions among the Parent’s affiliated entities to be conducted on an arm’s-length basis; • limitation on liens, which generally prohibits the Parent and its restricted subsidiaries from granting liens unless the Notes are comparably secured; and • limitation on asset sales, which generally prohibits the Parent and certain of its subsidiaries from selling assets or certain securities or property of significant subsidiaries. The indenture also provides for events of default which, if any of them occurs, would permit or require the principal of and accrued interest on the Notes to become or to be declared due and payable. As of June 30, 2022, the Parent was in compliance with all of its covenants. The Notes are jointly and severally and fully and unconditionally guaranteed on a senior secured basis by the Subsidiary Guarantors and future subsidiaries are required to guarantee the Notes pursuant to the indenture. The Notes are secured by a first-priority security interest in substantially all of the Parent’s and the Subsidiary Guarantors’ existing and future tangible and intangible assets, subject to certain exceptions and permitted liens. Interest expense on the Notes for the three and six months ended June 30, 2022 was $1.7 million and $3.4 million, respectively. Interest expense on the Notes for the three and six months ended June 30, 2021 was $1.7 million and $3.4 million, respectively.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxesThe effective income tax rate for the three and six months ended June 30, 2022 was 23.5% and 37.1% respectively, compared with 27.8% and 26.7% for the three and six months ended June 30, 2021 and reflects the Company's annual estimate of the statutory federal and state tax rates adjusted for certain discrete items. The effective tax rate for the second quarter of 2022 was negatively impacted by valuation allowance on the Company's foreign operations whereas the effective tax rate for the second quarter of 2021 was impacted by unfavorable permanent items.

Stockholder's Equity

Stockholder's Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholder's Equity	Stockholder's Equity The Company's shares authorized 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 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: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Class A Stock outstanding, beginning of period 12,156,174 12,586,043 12,447,036 12,381,778 Issued pursuant to share-based compensation plans — 6,603 86,451 210,868 Repurchased and canceled pursuant to the stock buy-back (885,230) — (1,262,543) — Class A Stock outstanding, end of period 11,270,944 12,592,646 11,270,944 12,592,646 Stock buy-back On May 15, 2020, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 530,000 shares of the Company's Class A Stock, representing approximately 4.2% of its 12,636,523 then issued and outstanding shares of Class A Stock. This authorization supplemented the 98,625 shares that remained authorized and available under the Company's previous share repurchase program for a total of 628,625 shares authorized and available for repurchase at May 15, 2020. On February 28, 2022, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 518,000 shares of the Company's Class A Stock, representing approximately 4.2% of its 12,322,073 then issued and outstanding shares of Class A Stock. This authorization supplemented the 12,407 shares that remained authorized and available under the Company's previous share repurchase program for a total of 530,407 shares authorized and available for repurchase at February 28, 2022. On May 24, 2022, the Company announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 550,000 shares of the Company's Class A Stock, representing approximately 4.6% of its 11,863,559 then issued and outstanding shares of Class A Stock. This authorization supplemented the 71,893 shares that remained authorized and available under the Company's previous share repurchase program for a total of 621,893 shares authorized and available for repurchase at May 24, 2022. During the three months ended June 30, 2022, the Company purchased and canceled an aggregate of 885,230 shares of Class A Stock for a total consideration of $30.2 million ($34.13 per share) under this program. During the six months ended June 30, 2022, the Company purchased and canceled an aggregate of 1,262,543 shares of Class A Stock for a total consideration of $46.4 million ($36.73 per share) under this program. During the three and six months ended June 30, 2021, the Company did not purchase or cancel any Class A Stock under this program. As of June 30, 2022, 29,278 shares remained available to be purchased under the share repurchase program. The Company repurchases shares 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 Notes. 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 shares of Class A Stock. Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	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 and periodic expenses. 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 expenses, adverse judgments, settlements, fines, penalties, injunctions or other relief. The investigations include inquiries from 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 a 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. Counsel may be required to review, analyze and resolve numerous issues, 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 the Company can reasonably estimate a loss or range of loss or additional loss for the 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 condensed 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 $41.3 million as of June 30, 2022. This estimated aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, where the Company can make an estimate for such losses. For certain cases, the Company does not believe that it can make an estimate. The foregoing aggregate estimate is based on various factors, including the varying stages of the proceedings (including the fact that some 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. On August 31, 2021, a complaint in a class action entitled 6694 Dawson Blvd, LLC, Individually and on Behalf of a Class of Similarly Situated Persons v. Oppenheimer & Co. Inc., James Wallace Woods, Michael J. Mooney, Britt Wright, William V. Conn, Jr., Conn & Co. Tax Practice, LLC, Conn & Company Consulting, LLC and Kathleen Lloyd, was filed in the U.S. District Court for the Northern District of Georgia. Plaintiff purports to represent a class of investors in Horizon Private Equity, III, LLC (“Horizon”). Horizon is alleged to be a fraudulent scheme and plaintiff is seeking unspecified damages sounding in violations of the Georgia RICO statute, breach of fiduciary duty, procurement of breach of fiduciary duty, negligent misrepresentation, aiding and abetting fraud, unjust enrichment, punitive damages and attorneys’ fees. Plaintiff does not allege Oppenheimer received any of the funds invested in Horizon, but rather that Oppenheimer’s purported failure to properly supervise its employees allowed the alleged scheme to occur and continue. On November 22, 2021, Oppenheimer filed a motion to dismiss the complaint on a number of grounds. The motion to dismiss was fully briefed on January 17, 2022, and the Court heard oral argument on the motion on June 21, 2022. Oppenheimer believes the claims to be without merit and intends to vigorously defend itself against the claims made in this action. In addition to the class action described in the preceding paragraph Oppenheimer has also been named as a respondent in twenty-four arbitrations, many containing multiple claimants, each filed before FINRA, relating to investments made by former Oppenheimer clients who invested in Horizon. Claimants allege many of the causes of action alleged in the class action described in the preceding paragraph. The arbitrations claiming specific monetary damages allege damages of approximately $41.3 million in the aggregate while others claim unspecified damages. Oppenheimer believes these claims to be without merit and intends to defend itself vigorously against these claims. On June 30, 2022, the Company received a "Wells Notice" from the SEC requesting that Oppenheimer make a written submission to the SEC to explain why Oppenheimer should not be charged with violations of Section 15c2-12 of the Exchange Act and Rule15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules G-17 and G-27 in relation to its sales of municipal notes pursuant to an exemption from continuing disclosure contained in Rule 15c2-12. As a result of the foregoing the Company believes the SEC may institute an administrative proceeding against Oppenheimer for not having fully complied with the exemption from the continuing disclosure obligations under Rule 15c2-12. The Company believes such claim to be without merit and intends to vigorously defend itself against any such claim.

Regulatory requirements

Regulatory requirements	6 Months Ended
	Jun. 30, 2022
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, as amended (the "Exchange Act"). 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 June 30, 2022, the net capital of Oppenheimer as calculated under the Rule was $435.6 million or 27.53% of Oppenheimer's aggregate debit items. This was $404 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 June 30, 2022, Freedom had net capital of $4.4 million, which was $4.3 million in excess of the $100,000 required to be maintained at that date. As of June 30, 2022, the capital required and held under the FCA’s Investment Firms’ Prudential Regime (“IFPR”) for Oppenheimer Europe Ltd. was as follows: • Common Equity Tier 1 ratio 130% (required 56.0%); • Tier 1 Capital ratio 130% (required 75.0%); and • Total Capital ratio 174% (required 100.0%). Effective January 2022, IFPR changed its minimum capital requirement, which is now sterling 750,000 (previously it was Euro 730,000). Capital ratios are now expressed differently, but are effectively unchanged when comparing performance to required regulatory minimums. As of June 30, 2022, Oppenheimer Europe Ltd. is in compliance with its regulatory requirements. As of June 30, 2022, the regulatory capital of Oppenheimer Investments Asia Limited was $4.8 million, which was $4.4 million in excess of the $382,297 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 of Hong Kong. As of June 30, 2022, Oppenheimer Investment Asia Limited is in compliance with its regulatory requirements.

Segment information

Segment information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment information	Segment information The Company has determined its reportable segments based on the Company's method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its segments and allocates resources to them based upon profitability. The Company's reportable segments are: Private Client — includes commissions and a proportionate amount of fee income earned on assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment. Asset Management — includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer's asset management divisions employ various programs to manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and Capital Markets — includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment. The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation and benefits. The table below presents information about the reported revenue and pre-tax income (loss) of the Company for the three and six months ended June 30, 2022 and 2021. Asset information by reportable segment is not reported since the Company does not produce such information for internal use by the chief operating decision maker. (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Revenue Private client (1) $ 144,471 $ 166,863 $ 295,318 $ 330,886 Asset management (1) 24,315 25,544 51,432 49,774 Capital markets 71,274 147,945 156,325 331,544 Corporate/Other (2,838) (59) 175 1,371 Total $ 237,222 $ 340,293 $ 503,250 $ 713,575 Pre-Tax Income (Loss) Private client (1) $ 38,800 $ 21,673 $ 62,946 $ 45,936 Asset management (1) 8,120 8,638 17,594 16,191 Capital markets (17,935) 39,373 (16,769) 89,364 Corporate/Other (35,154) (26,516) (55,727) (56,196) Total $ (6,169) $ 43,168 $ 8,044 $ 95,295 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments. Revenue, classified by the major geographic areas in which it was earned, for the three and six months ended June 30, 2022 and 2021 was: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Americas $ 225,500 $ 326,485 $ 477,410 $ 683,192 Europe/Middle East 10,474 12,501 22,451 27,911 Asia 1,248 1,307 3,389 2,472 Total $ 237,222 $ 340,293 $ 503,250 $ 713,575

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent events	Subsequent events On July 29, 2022, the Company announced a quarterly dividend in the amount of $0.15 per share, payable on August 26, 2022 to holders of Class A Stock and Class B Stock of record on August 12, 2022. On July 28, 2022, the Company's Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 536,500 shares of the Company's Class A Stock, representing approximately 4.8% of its 11,251,930 then issued and outstanding shares of Class A Stock. This authorization supplemented the 4,278 shares that remained authorized and available under the Company's previous share repurchase program for a total of 540,778 shares authorized.

Summary of significant accoun_2

Summary of significant accounting policies and estimates (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the audited consolidated financial statements but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three-month and six-month period ended June 30, 2022 are not necessarily indicative of the results to be expected for any future interim or annual period. Oppenheimer Acquisition Corp. I On October 26, 2021, Oppenheimer Acquisition Corp. I (“OHAA”) consummated its $126.5 million initial public offering (the “OHAA IPO”). OHAA is a special purpose acquisition company, incorporated in Delaware for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (a “Business Combination”). Oppenheimer Acquisition LLC I (the “Sponsor”), a Delaware series limited liability company and the Company’s subsidiary, is the sponsor of OHAA. The Company and its employees control OHAA through the Sponsor’s ownership of Class A founder shares of OHAA. As a result, both OHAA and the Sponsor are consolidated in the Company’s financial statements. Funds totaling $127.8 million, including proceeds from the OHAA IPO of $126.5 million and $1.3 million in investment from the Sponsor, are held in a trust account until the earlier of (i) the completion of a Business Combination or (ii) ten Transaction costs, which consisted of a net underwriting fee of $2.5 million and $0.5 million of other offering costs, were charged during the fourth quarter of 2021 against the gross proceeds of the OHAA IPO consistent with SEC Staff Accounting Bulletin (SAB) Topic 5. “Redeemable noncontrolling interests” of $127.8 million associated with the publicly held OHAA Class A ordinary shares are recorded on the Company’s consolidated balance sheet as of June 30, 2022 at redemption value and classified as temporary equity in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity”. Changes in redemption value are recognized immediately as they occur and will adjust the carrying value of redeemable noncontrolling interests to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable noncontrolling interests shall be affected by charges to additional paid-in-capital and noncontrolling interests attributable to certain members of the Sponsor on a pro rata ownership basis. The public warrants and private warrants exercisable for OHAA Class A ordinary shares that were issued in connection with the OHAA IPO (the “OHAA Warrants”) qualify for equity accounting treatment under FASB ASC Topic 815. Oppenheimer Principal Investments LLC Oppenheimer Principal Investments LLC ("OPI") is a Delaware special purpose "Series" limited liability company formed in December 2020 and designed to retain and reward talented employees of the Company, primarily in connection with the deployment of Company capital into successful private market investments, and also in connection with the Company's receipt of non-cash compensation from investment banking assignments. OPI is designed to promote alignment of Company, client and employee interests as they relate to profitable investment opportunities. This program acts as an incentive for senior employees to identify attractive private investments for the Company and its clients, and as a retention tool for key employees of the Company. OPI treats its members as partners for tax purposes generally and with respect to the separate Series formed to participate in (i) the incentive fees generated by successful client investments in the Company's Private Market Opportunities program, or (ii) principal investments made by the Company or a portion of the gains thereon, either through the outright purchase of an investment or consideration earned in lieu of an investment banking fee or other transaction fee. Employees who become members of a Series receive a "profit interest", as that term is used in IRS regulations, and receive an allocation of capital appreciation of the investment held by the particular Series that exceeds a threshold amount established for each Series. Participating employees are also subject to vesting and forfeiture requirements for each Series investment. The Company’s policy is to consolidate those entities where it owns the majority voting interests. The Company owns the majority voting interest of OPI through Oppenheimer Alternative Investment Management (“OAIM”), the managing member of OPI and a subsidiary of OAM. Pursuant to the Company’s policy for consolidation, the Company consolidates OPI. Noncontrolling Interests Noncontrolling interests represents ownership interests in the Sponsor of OHAA, OHAA Class A founder and Class A ordinary shares held by management and employees of the Company, as well as OHAA Class B shares held by directors and officers of OHAA and an employee of the Company. Noncontrolling interests also include publicly held warrants to purchase OHAA Class A ordinary shares. Additionally, noncontrolling interests includes the profits allocated to employees who have profit interests in OPI's Series. Restricted Cash Restricted cash represents OHAA deposits held in trust as indicated above.
Reclassification	ReclassificationEffective this quarter, the Company reclassified certain stockholders' equity amounts on the condensed consolidated balance sheet and condensed consolidated statements of changes in stockholders' equity. The reclassification included separately presenting the par value of common stocks, and combining previously disclosed share capital and contributed capital amounts in the currently reported additional paid-in capital amount. The reclassification had no impact on previously reported total stockholders’ equity amounts.

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2022
Credit Loss [Abstract]
Schedule of Financing Receivable Credit Quality Indicators	The following table presents the disaggregation of defaulted notes by year of default as of June 30, 2022: (Expressed in thousands) As of June 30, 2022 2022 $ 578 2021 2,332 2020 568 2019 356 2018 138 2017 and prior 3,452 Total $ 7,424
Schedule of Financing Receivable, Allowance for Credit Loss	The following table presents activity in the allowance for uncollectibles of defaulted notes for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Beginning balance $ 5,247 $ 4,766 $ 4,923 $ 4,234 Additions and other adjustments (141) (65) 183 467 Ending balance $ 5,106 $ 4,701 $ 5,106 $ 4,701

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Lease Cost	The following table presents the weighted average lease term and weighted average discount rate for the Company's operating leases as of June 30, 2022 and December 31, 2021, respectively: As of June 30, 2022 December 31, 2021 Weighted average remaining lease term (in years) 7.06 7.38 Weighted average discount rate 6.81% 6.89% The following table presents operating lease costs recognized for the three and six months ended June 30, 2022 and June 30, 2021, respectively, which are included in occupancy and equipment costs on the condensed consolidated income statements: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 6,189 $ 6,062 $ 12,346 $ 12,118 Real estate leases - Interest expense 3,267 3,607 6,623 7,203 Equipment leases - Right-of-use lease asset amortization 410 445 824 890 Equipment leases - Interest expense 35 37 67 76
Schedule of Maturities of Lease Liabilities	The maturities of lease liabilities as of June 30, 2022 and December 31, 2021 are as follows: (Expressed in thousands) As of June 30, 2022 December 31, 2021 2022 $ 21,196 $ 41,696 2023 40,578 38,477 2024 35,700 33,573 2025 29,902 27,703 2026 28,368 26,342 After 2026 81,723 78,593 Total lease payments $ 237,467 $ 246,384 Less interest (49,936) (54,365) Present value of lease liabilities $ 187,531 $ 192,019

Revenues from contracts with _2

Revenues from contracts with customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) For the Three Months Ended June 30, 2022 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 38,108 $ 48,425 $ 6 $ 86,539 Mutual fund and insurance income 7,808 1 30 7,839 Advisory fees 83,085 24,311 — 9 107,405 Investment banking - capital markets 2,359 6,010 — 8,369 Investment banking - advisory — 8,284 — 8,284 Bank deposit sweep income 14,845 — — 14,845 Other 4,807 — 479 66 5,352 Total revenue from contracts with customers 151,012 24,311 63,199 111 238,633 Other sources of revenue: Interest 10,369 1,392 28 11,789 Principal transactions, net (2,233) 6,564 (3,073) 1,258 Other (14,677) 4 119 96 (14,458) Total other sources of revenue (6,541) 4 8,075 (2,949) (1,411) Total revenue $ 144,471 $ 24,315 $ 71,274 $ (2,838) $ 237,222 (Expressed in thousands) For the Three Months Ended June 30, 2021 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 44,510 $ — $ 42,407 $ 4 $ 86,921 Mutual fund and insurance income 9,243 — 2 5 9,250 Advisory fees 85,598 25,541 — 13 111,152 Investment banking - capital markets 5,770 — 48,208 — 53,978 Investment banking - advisory 250 — 50,514 — 50,764 Bank deposit sweep income 3,712 — — — 3,712 Other 4,474 — 202 19 4,695 Total revenue from contracts with customers 153,557 25,541 141,333 41 320,472 Other sources of revenue: Interest 7,235 — 1,666 8 8,909 Principal transactions, net 1,546 — 4,878 (119) 6,305 Other 4,525 3 68 11 4,607 Total other sources of revenue 13,306 3 6,612 (100) 19,821 Total revenue $ 166,863 $ 25,544 $ 147,945 $ (59) $ 340,293 (Expressed in thousands) For the Six Months Ended June 30, 2022 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 81,463 $ — 95,061 17 $ 176,541 Mutual fund and insurance income 16,130 — 6 22 16,158 Advisory fees 171,613 51,424 117 17 223,171 Investment banking - capital markets 5,665 — 19,234 — 24,899 Investment banking - advisory 35 — 30,189 — 30,224 Bank deposit sweep income 19,199 — — — 19,199 Other 7,642 — 797 188 8,627 Total revenue from contracts with customers 301,747 51,424 145,404 244 498,819 Other sources of revenue: Interest 18,517 — 2,685 104 21,306 Principal transactions, net (4,166) — 8,080 (292) 3,622 Other (20,780) 8 156 119 (20,497) Total other sources of revenue (6,429) 8 10,921 (69) 4,431 Total revenue $ 295,318 $ 51,432 $ 156,325 $ 175 $ 503,250 (Expressed in thousands) For the Six Months Ended June 30, 2021 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 92,908 $ — $ 98,207 $ 1 $ 191,116 Mutual fund and insurance income 18,441 — 4 81 18,526 Advisory fees 165,852 49,768 3 25 215,648 Investment banking - capital markets 14,280 — 128,277 — 142,557 Investment banking - advisory 250 — 86,436 — 86,686 Bank deposit sweep income 7,720 — — — 7,720 Other 7,594 — 761 33 8,388 Total revenue from contracts with customers 307,045 49,768 313,688 140 670,641 Other sources of revenue: Interest 13,711 — 3,818 46 17,575 Principal transactions, net 2,176 — 13,832 1,162 17,170 Other 7,954 6 206 23 8,189 Total other sources of revenue 23,841 6 17,856 1,231 42,934 Total revenue $ 330,886 $ 49,774 $ 331,544 $ 1,371 $ 713,575
Schedule of Contract with Customer, Asset and Liability	The following presents the Company's contract assets and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2022 December 31, 2021 Contract assets (receivables): Commission (1) $ 3,912 $ 2,886 Mutual fund income (2) 5,636 6,205 Advisory fees (3) 3,909 4,546 Bank deposit sweep income (4) 4,258 595 Investment banking fees (5) 4,418 17,765 Other 2,975 5,195 Total contract assets $ 25,108 $ 37,192 Deferred revenue (payables): Investment banking fees (6) $ 481 $ 235 IRA fees (7) 1,529 — Total deferred revenue $ 2,010 $ 235 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received. (6) Retainer fees and fees received from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Fee received in advance on an annual basis.

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule 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 Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Basic weighted average number of shares outstanding 11,980,115 12,689,191 12,222,527 12,634,464 Net dilutive effect of share-based awards, treasury stock method (1) — 991,955 919,011 861,125 Diluted weighted average number of shares outstanding 11,980,115 13,681,146 13,141,538 13,495,589 Net income (loss) attributable to Oppenheimer Holdings Inc. $ (3,874) $ 31,159 $ 5,418 $ 69,817 Earnings (Loss) per share attributable to Oppenheimer Holdings Inc. Basic $ (0.32) $ 2.46 $ 0.44 $ 5.53 Diluted $ (0.32) $ 2.28 $ 0.41 $ 5.17

Receivable from and payable t_2

Receivable from and payable to brokers, dealers and clearing organizations (Tables)	6 Months Ended
	Jun. 30, 2022
Broker-Dealer [Abstract]
Schedule of Receivable from and Payable to Brokers, Dealers and Clearing Organizations	(Expressed in thousands) As of June 30, 2022 December 31, 2021 Receivable from brokers, dealers and clearing organizations consists of: Securities borrowed $ 79,038 $ 99,752 Receivable from brokers 42,255 39,716 Securities failed to deliver 26,705 9,212 Clearing organizations 19,355 19,518 Other 545 1,704 Total $ 167,898 $ 169,902 Payable to brokers, dealers and clearing organizations consists of: Securities loaned $ 281,407 $ 244,223 Securities failed to receive 50,028 6,457 Payable to brokers 3,357 2,077 Clearing organizations and other (1) 53,675 169,300 Total $ 388,467 $ 422,057 (1) The balances are primarily related to a trade/settlement date adjustment for U.S. Government Securities.

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Investments in Company-Sponsored Funds	The following table provides information about the Company's investments in Company-sponsored funds as of June 30, 2022: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 700 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 8,960 3,075 N/A N/A $ 9,660 $ 3,075 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2021: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 900 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,621 4,035 N/A N/A $ 5,521 $ 4,035 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources.
Schedule of 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 June 30, 2022, and December 31, 2021, 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 June 30, 2022 : (Expressed in thousands) Fair Value Measurements as of June 30, 2022 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 41,189 $ — $ — $ 41,189 Securities owned: U.S. Treasury securities 367,425 — — 367,425 U.S. Agency securities — 5,538 — 5,538 Sovereign obligations — 452 — 452 Corporate debt and other obligations — 9,382 — 9,382 Mortgage and other asset-backed securities — 2,084 — 2,084 Municipal obligations — 162,530 — 162,530 Convertible bonds — 14,557 — 14,557 Corporate equities 27,013 — — 27,013 Money markets 314 — — 314 Auction rate securities — — 31,977 31,977 Securities owned, at fair value 394,752 194,543 31,977 621,272 Investments (1) — 9,150 — 9,150 Total $ 435,941 $ 203,693 $ 31,977 $ 671,611 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 233,450 $ — $ — $ 233,450 U.S. Agency securities — 3 — 3 Corporate debt and other obligations — 4,867 — 4,867 Convertible bonds — 5,900 — 5,900 Corporate equities 10,431 — — 10,431 Securities sold but not yet purchased, at fair value 243,881 10,771 — 254,652 Derivative contracts: Futures 371 — — 371 TBAs — 3 — 3 Derivative contracts, total 371 3 — 374 Total $ 244,252 $ 10,774 $ — $ 255,026 (1) Included in other assets on the condensed consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: (Expressed in thousands) Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 29,083 $ — $ — $ 29,083 Securities owned: U.S. Treasury securities 505,875 — — 505,875 U.S. Agency securities — 5,622 — 5,622 Sovereign obligations — 1,494 — 1,494 Corporate debt and other obligations — 8,111 — 8,111 Mortgage and other asset-backed securities — 3,889 — 3,889 Municipal obligations — 18,520 — 18,520 Convertible bonds — 13,778 — 13,778 Corporate equities 45,380 — — 45,380 Money markets 31 — — 31 Auction rate securities — — 31,804 31,804 Securities owned, at fair value 551,286 51,414 31,804 634,504 Investments (1) — 12,970 — 12,970 Derivative contracts: TBAs — 92 — 92 Total $ 580,369 $ 64,476 $ 31,804 $ 676,649 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 42,298 $ — $ — $ 42,298 U.S. Agency securities — 4 — 4 Corporate debt and other obligations — 2,515 — 2,515 Convertible bonds — 8,462 — 8,462 Corporate equities 18,679 — — 18,679 Securities sold but not yet purchased, at fair value 60,977 10,981 — 71,958 Derivative contracts: Futures 287 — — 287 TBAs — 81 — 81 Derivative contracts, total 287 81 — 368 Total $ 61,264 $ 11,062 $ — $ 72,326 (1) Included in other assets on the condensed consolidated balance sheet. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2022 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,804 $ (27) $ 200 $ — $ — $ 31,977 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2021 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Gains (Losses) (3)(4) and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,470 $ 2 $ — $ (50) $ — $ 31,422 Liabilities ARS Purchase Commitments (2) 65 (1) — — — 66 (1) Represents auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated income statement. (4) Unrealized gains are attributable to assets or liabilities that are still held at the reporting date. Level 3 Assets and Liabilities For the Six Months Ended June 30, 2022 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,804 $ (27) $ 200 $ — $ — $ 31,977 1) Represents auction rate securities that failed in the auction rate market. . Level 3 Assets and Liabilities For the Six Months Ended June 30, 2021 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses (3)(4) and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 30,701 $ (129) $ 1,875 $ (1,025) $ — $ 31,422 Liabilities ARS Purchase Commitments (2) 195 (1) — (130) — 66 (1) Represents auction rate securities that failed in the auction rate market. (2) Represents the difference in principal and fair value for auction rate securities purchase commitments outstanding at the end of the period. (3) Included in principal transactions in the condensed consolidated income statement. (4) Unrealized losses are attributable to assets or liabilities that are still held at the reporting date.
Schedule of Financial Instruments, Estimate Not Practicable, Fair Value	Assets and liabilities not measured at fair value as of June 30, 2022: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 36,606 $ 36,606 $ — $ — $ 36,606 Restricted cash 127,875 127,875 — — 127,875 Deposits with clearing organization 58,379 58,379 — — 58,379 Receivable from brokers, dealers and clearing organizations: Securities borrowed 79,038 — 79,038 — 79,038 Receivables from brokers 42,255 — 42,255 — 42,255 Securities failed to deliver 26,705 — 26,705 — 26,705 Clearing organizations 19,355 — 19,355 — 19,355 Other 548 — 548 — 548 167,901 — 167,901 — 167,901 Receivable from customers 1,288,079 — 1,288,079 — 1,288,079 Notes receivable, net 59,099 — 59,099 — 59,099 Investments (1) 78,246 — 78,246 — 78,246 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 10,020 $ 10,020 $ — $ — $ 10,020 Bank call loans $ 177,300 $ — $ 177,300 $ — $ 177,300 Payables to brokers, dealers and clearing organizations: Securities loaned 281,407 — 281,407 — 281,407 Payable to brokers 3,357 — 3,357 — 3,357 Securities failed to receive 50,028 — 50,028 — 50,028 Other 53,304 — 53,304 — 53,304 388,096 — 388,096 — 388,096 Payables to customers 419,315 — 419,315 — 419,315 Securities sold under agreements to repurchase 170,968 — 170,968 — 170,968 Senior secured notes 125,000 — 125,213 — 125,213 Assets and liabilities not measured at fair value as of December 31, 2021: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash $ 213,759 $ 213,759 $ — $ — $ 213,759 Restricted cash 127,765 127,765 — — 127,765 Deposits with clearing organization 37,885 37,885 — — 37,885 Receivable from brokers, dealers and clearing organizations: Securities borrowed 99,752 — 99,752 — 99,752 Receivables from brokers 39,716 — 39,716 — 39,716 Securities failed to deliver 9,212 — 9,212 — 9,212 Clearing organizations 19,518 — 19,518 — 19,518 Other 1,693 — 1,693 — 1,693 169,891 — 169,891 — 169,891 Receivable from customers 1,221,450 — 1,221,450 — 1,221,450 Securities purchased under agreements to resell 935 — 935 — 935 Notes receivable, net 53,983 — 53,983 — 53,983 Investments (1) 99,169 — 99,169 — 99,169 (1) Included in other assets on the condensed consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Bank call loans $ 69,500 $ — $ 69,500 $ — $ 69,500 Payables to brokers, dealers and clearing organizations: Securities loaned 244,223 — 244,223 — 244,223 Payable to brokers 2,077 — 2,077 — 2,077 Securities failed to receive 6,457 — 6,457 — 6,457 Other 169,013 — 169,013 — 169,013 421,770 — 421,770 — 421,770 Payables to customers 456,958 — 456,958 — 456,958 Securities sold under agreements to repurchase 277,322 — 277,322 — 277,322 Senior secured notes 125,000 — 131,094 — 131,094
Schedule of Notional Amounts and Fair Values of Derivatives by Product	The notional amounts and fair values of the Company's derivatives as of June 30, 2022 and December 31, 2021 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of June 30, 2022 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 3,842 $ — Forward reverse repurchase agreements 123,350 — $ 127,192 $ — Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 1,175,600 $ 371 Other contracts TBAs 3,842 3 $ 1,179,442 $ 374 (1) See "Derivative Instruments and Hedging Activities" above for a 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, 2021 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 14,300 $ 92 $ 14,300 $ 92 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 3,520,000 $ 287 Other contracts TBAs 14,300 81 $ 3,534,300 $ 368 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
Schedule of 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 condensed consolidated income statements for the three and six months ended June 30, 2022 and 2021: (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2022 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue, net $ 1,328 Other contracts Foreign exchange forward contracts Other revenue (20) Other contracts TBAs Principal transactions revenue, net (6) $ 1,302 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2021 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue, net $ (525) Other contracts Foreign exchange forward contracts Other revenue (8) TBAs Principal transactions revenue, net 14 Purchase commitments Principal transactions revenue, net (490) ARS purchase commitments Principal transactions revenue, net (1) $ (1,010) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2022 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue $ 3,519 Other contracts Foreign exchange forward contracts Other revenue (20) TBAs Principal transactions revenue 56 $ 3,555 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2021 Recognized in Income on Derivatives Types Description Location Net Gain/(Loss) Commodity contracts Futures Principal transactions revenue $ 495 Other contracts Foreign exchange forward contracts Other revenue (8) TBAs Principal transactions revenue 51 Purchase commitments Principal transactions revenue (490) ARS purchase commitments Principal transactions revenue (1) $ 47

Collateralized transactions (Ta

Collateralized transactions (Tables)	6 Months Ended
	Jun. 30, 2022
Broker-Dealer [Abstract]
Schedule of 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 June 30, 2022: (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government and Agency securities $ 411,713 Securities loaned: Equity securities 281,407 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 693,120
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 June 30, 2022 and December 31, 2021: As of June 30, 2022 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 240,745 $ (240,745) $ — $ — $ — $ — Securities borrowed (1) 79,038 — 79,038 (78,758) — 280 Total $ 319,783 $ (240,745) $ 79,038 $ (78,758) $ — $ 280 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 411,713 $ (240,745) $ 170,968 $ (170,691) $ — $ 277 Securities loaned (2) 281,407 — 281,407 (266,801) — 14,606 Total $ 693,120 $ (240,745) $ 452,375 $ (437,492) $ — $ 14,883 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet. As of December 31, 2021 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 30,406 $ (29,471) $ 935 $ — $ — $ 935 Securities borrowed (1) 99,752 — 99,752 (96,929) — 2,823 Total $ 130,158 $ (29,471) $ 100,687 $ (96,929) $ — $ 3,758 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 306,793 $ (29,471) $ 277,322 $ (276,992) $ — $ 330 Securities loaned (2) 244,223 — 244,223 (236,597) — 7,626 Total $ 551,016 $ (29,471) $ 521,545 $ (513,589) $ — $ 7,956 (2) Included in payable to brokers, dealers and clearing organizations on the condensed consolidated balance sheet.

Variable interest entities ("_2

Variable interest entities ("VIEs") (Tables)	6 Months Ended
	Jun. 30, 2022
Variable Interest Entity [Abstract]
Schedule of Variable Interest Entities	The following table sets forth the total assets and liabilities of VIEs consolidated on our condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2022 2021 Asset Cash and cash equivalents $ 1,458 $ — Restricted Cash 127,875 — Other Assets 568 — Total Assets $ 129,901 $ — Liabilities Other Liabilities 123 — Total Liabilities $ 123 $ —

Long-term debt (Tables)

Long-term debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(Expressed in thousands) Issued Maturity Date June 30, 2022 December 31, 2021 5.50% Senior Secured Notes 10/1/2025 $ 125,000 $ 125,000 Unamortized Debt Issuance Cost (800) (926) $ 124,200 $ 124,074

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of 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: For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Class A Stock outstanding, beginning of period 12,156,174 12,586,043 12,447,036 12,381,778 Issued pursuant to share-based compensation plans — 6,603 86,451 210,868 Repurchased and canceled pursuant to the stock buy-back (885,230) — (1,262,543) — Class A Stock outstanding, end of period 11,270,944 12,592,646 11,270,944 12,592,646

Segment information (Tables)

Segment information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Reported Revenue and Profit Before Income Taxes	The table below presents information about the reported revenue and pre-tax income (loss) of the Company for the three and six months ended June 30, 2022 and 2021. Asset information by reportable segment is not reported since the Company does not produce such information for internal use by the chief operating decision maker. (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Revenue Private client (1) $ 144,471 $ 166,863 $ 295,318 $ 330,886 Asset management (1) 24,315 25,544 51,432 49,774 Capital markets 71,274 147,945 156,325 331,544 Corporate/Other (2,838) (59) 175 1,371 Total $ 237,222 $ 340,293 $ 503,250 $ 713,575 Pre-Tax Income (Loss) Private client (1) $ 38,800 $ 21,673 $ 62,946 $ 45,936 Asset management (1) 8,120 8,638 17,594 16,191 Capital markets (17,935) 39,373 (16,769) 89,364 Corporate/Other (35,154) (26,516) (55,727) (56,196) Total $ (6,169) $ 43,168 $ 8,044 $ 95,295 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments.
Schedule of Revenue Classified by Major Geographic Areas	Revenue, classified by the major geographic areas in which it was earned, for the three and six months ended June 30, 2022 and 2021 was: (Expressed in thousands) For the Three Months Ended For the Six Months Ended 2022 2021 2022 2021 Americas $ 225,500 $ 326,485 $ 477,410 $ 683,192 Europe/Middle East 10,474 12,501 22,451 27,911 Asia 1,248 1,307 3,389 2,472 Total $ 237,222 $ 340,293 $ 503,250 $ 713,575

Organization (Details)

Organization (Details)	Jun. 30, 2022 office
UNITED STATES
Organization And Basis Of Presentation [Line Items]
Number of offices providing services	91

Summary of significant accoun_3

Summary of significant accounting policies and estimates (Details) - USD ($) $ in Thousands			3 Months Ended
		Oct. 26, 2021	Dec. 31, 2021		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Proceeds from Company sponsored Initial Public Offering		$ 126,500
Total funds		127,800
Investment from sponsor		$ 1,300
Funds held in trust, period (in days)		10 days
Funds held in trust, period from IPO closing		18 months
Underwriting fees			$ 2,500
Offering costs			500
Redeemable noncontrolling interests	[1]		$ 127,765	[2]	$ 127,765	$ 127,765	$ 0	$ 0	$ 0
[1]Certain prior period amounts were reclassified to conform to the current period presentation, see Note 2.[2]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Financial Instruments - Credi_3

Financial Instruments - Credit Losses - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021		Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Notes receivable, net	$ 59,099		$ 53,983	[1]
Uncollectible balance reserved (as a percent)	100%
Uncollectible balance period (in years)	5 years
Uncollected balance of defaulted notes	$ 7,424
Allowance for credit loss	5,106	$ 5,247	$ 4,923		$ 4,701	$ 4,766	$ 4,234
Notes Receivable, Five Years and Older
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit loss	3,400
Notes Receivable, Under Five Years
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit loss	$ 1,700
Minimum | Notes Receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Service period (in years)	3 years
Maximum | Notes Receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Service period (in years)	10 years
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Financial Instruments - Credi_4

Financial Instruments - Credit Losses - Schedule of Disaggregation of Defaulted Notes By Year Of Origination (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Credit Loss [Abstract]
2022	$ 578
2021	2,332
2020	568
2019	356
2018	138
2017 and prior	3,452
Total	$ 7,424

Financial Instruments - Credi_5

Financial Instruments - Credit Losses - Schedule of Activity in Allowance For Uncollectible Defaulted Notes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,247	$ 4,766	$ 4,923	$ 4,234
Additions and other adjustments	(141)	(65)	183	467
Ending balance	$ 5,106	$ 4,701	$ 5,106	$ 4,701

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	Jun. 30, 2022 USD ($) office	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	$ 146,057	$ 150,121	[1]
Right of use asset, accumulated amortization	74,164	76,462
Lease liabilities	187,531	192,019	[1]
Lease not yet commenced, amount	$ 33,200	$ 16,200
Viner Finance Inc.
Lessee, Lease, Description [Line Items]
Ownership of subsidiary (as a percent)	100%
Real Estate Leases
Lessee, Lease, Description [Line Items]
Lease liabilities	$ 184,800
Equipment Leases
Lessee, Lease, Description [Line Items]
Lease liabilities	2,700
Real Estate Leases
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	143,300
Right of use asset, accumulated amortization	71,800
Equipment Leases
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	2,800
Right of use asset, accumulated amortization	$ 2,400
UNITED STATES
Lessee, Lease, Description [Line Items]
Number of stores | office	91
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Leases - Weighted Average Lease

Leases - Weighted Average Lease Term and Discount Rate (Details)	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years 21 days	7 years 4 months 17 days
Weighted average discount rate (as a percent)	6.81%	6.89%

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Operating lease, Right-of-use lease asset, amortization expense			$ 13,170	$ 13,008
Real Estate
Lessee, Lease, Description [Line Items]
Operating lease, Right-of-use lease asset, amortization expense	$ 6,189	$ 6,062	12,346	12,118
Operating lease, Interest expense	3,267	3,607	6,623	7,203
Equipment
Lessee, Lease, Description [Line Items]
Operating lease, Right-of-use lease asset, amortization expense	410	445	824	890
Operating lease, Interest expense	$ 35	$ 37	$ 67	$ 76

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
2022	$ 21,196	$ 41,696
2023	40,578	38,477
2024	35,700	33,573
2025	29,902	27,703
2026	28,368	26,342
After 2026	81,723	78,593
Total lease payments	237,467	246,384
Less interest	(49,936)	(54,365)
Present value of lease liabilities	$ 187,531	$ 192,019	[1]
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Revenues from contracts with _3

Revenues from contracts with customers (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 238,633	$ 320,472	$ 498,819	$ 670,641
Interest	11,789	8,909	21,306	17,575
Principal transactions, net	1,258	6,305	3,622	17,170
Other	(14,458)	4,607	(20,497)	8,189
Total other sources of revenue	(1,411)	19,821	4,431	42,934
Total revenue	237,222	340,293	503,250	713,575
Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	151,012	153,557	301,747	307,045
Interest	10,369	7,235	18,517	13,711
Principal transactions, net	(2,233)	1,546	(4,166)	2,176
Other	(14,677)	4,525	(20,780)	7,954
Total other sources of revenue	(6,541)	13,306	(6,429)	23,841
Total revenue	144,471	166,863	295,318	330,886
Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	24,311	25,541	51,424	49,768
Interest		0	0	0
Principal transactions, net		0	0	0
Other	4	3	8	6
Total other sources of revenue	4	3	8	6
Total revenue	24,315	25,544	51,432	49,774
Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	63,199	141,333	145,404	313,688
Interest	1,392	1,666	2,685	3,818
Principal transactions, net	6,564	4,878	8,080	13,832
Other	119	68	156	206
Total other sources of revenue	8,075	6,612	10,921	17,856
Total revenue	71,274	147,945	156,325	331,544
Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	111	41	244	140
Interest	28	8	104	46
Principal transactions, net	(3,073)	(119)	(292)	1,162
Other	96	11	119	23
Total other sources of revenue	(2,949)	(100)	(69)	1,231
Total revenue	(2,838)	(59)	$ 175	1,371
Commission From Equity Securities Transactions
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			2 days
Commissions From Corporate Bond Transactions
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			1 day
Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	86,539	86,921	$ 176,541	191,116
Commissions from sales and trading | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	38,108	44,510	81,463	92,908
Commissions from sales and trading | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		0	0	0
Commissions from sales and trading | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	48,425	42,407	95,061	98,207
Commissions from sales and trading | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	6	4	$ 17	1
Mutual fund and insurance income
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			90 days
Revenues from contracts with customers	7,839	9,250	$ 16,158	18,526
Mutual fund and insurance income | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	7,808	9,243	16,130	18,441
Mutual fund and insurance income | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		0	0	0
Mutual fund and insurance income | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1	2	6	4
Mutual fund and insurance income | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	30	5	$ 22	81
Advisory fees
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			90 days
Revenues from contracts with customers	107,405	111,152	$ 223,171	215,648
Advisory fees | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	83,085	85,598	171,613	165,852
Advisory fees | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	24,311	25,541	51,424	49,768
Advisory fees | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	117	3
Advisory fees | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	9	13	$ 17	25
Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			90 days
Revenues from contracts with customers	8,369	53,978	$ 24,899	142,557
Investment banking - capital markets | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	2,359	5,770	5,665	14,280
Investment banking - capital markets | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		0	0	0
Investment banking - capital markets | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	6,010	48,208	19,234	128,277
Investment banking - capital markets | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Investment banking - advisory
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8,284	50,764	30,224	86,686
Investment banking - advisory | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	250	35	250
Investment banking - advisory | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		0	0	0
Investment banking - advisory | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	8,284	50,514	30,189	86,436
Investment banking - advisory | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	$ 0	0
Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)			30 days
Revenues from contracts with customers	14,845	3,712	$ 19,199	7,720
Bank deposit sweep income | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	14,845	3,712	19,199	7,720
Bank deposit sweep income | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers		0	0	0
Bank deposit sweep income | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Bank deposit sweep income | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	5,352	4,695	8,627	8,388
Other | Private Client
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	4,807	4,474	7,642	7,594
Other | Asset Management
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Other | Capital Markets
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	479	202	797	761
Other | Corporate/Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 66	$ 19	$ 188	$ 33

Revenues from contracts with _4

Revenues from contracts with customers (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	$ 25,108	$ 37,192
Deferred revenue (payables)	2,010	235
Commission
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	3,912	2,886
Mutual Fund Income
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	5,636	6,205
Advisory fees
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	3,909	4,546
Bank Deposit Sweep Income
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	4,258	595
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	4,418	17,765
Other
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	2,975	5,195
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Deferred revenue (payables)	481	235
IRA fees
Capitalized Contract Cost [Line Items]
Deferred revenue (payables)	$ 1,529	$ 0

Earnings per share - Summary of

Earnings per share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding (in shares)	11,980,115	12,689,191	12,222,527	12,634,464
Net dilutive effect of share-based awards, treasury method (in shares)	0	991,955	919,011	861,125
Diluted weighted average number of shares outstanding (in shares)	11,980,115	13,681,146	13,141,538	13,495,589
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ (3,874)	$ 31,159	$ 5,418	$ 69,817
Basic (in dollars per share)	$ (0.32)	$ 2.46	$ 0.44	$ 5.53
Diluted (in dollars per share)	$ (0.32)	$ 2.28	$ 0.41	$ 5.17

Earnings per share - Summary _2

Earnings per share - Summary of Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Class A Stock
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of anti-dilutive stock options granted	1,267,733	0	4,100	0

Receivable from and payable t_3

Receivable from and payable to brokers, dealers and clearing organizations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Receivable from brokers, dealers and clearing organizations consists of:
Securities borrowed	$ 79,038	$ 99,752
Receivable from brokers	42,255	39,716
Securities failed to deliver	26,705	9,212
Clearing organizations	19,355	19,518
Other	545	1,704
Receivables from broker, dealers and clearing organizations	167,898	169,902	[1]
Payable to brokers, dealers and clearing organizations consists of:
Securities loaned	281,407	244,223
Securities failed to receive	50,028	6,457
Payable to brokers	3,357	2,077
Clearing organizations and other	53,675	169,300
Payable to brokers, dealers and clearing organizations	$ 388,467	$ 422,057	[1]
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Fair value measurements - Addit

Fair value measurements - Additional Information (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 621,272	$ 634,504	[1]
Valuation adjustment	5,200
Investments	$ 9,150	12,970
Forward or delayed delivery of the underlying instrument with settlement	180 days
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 194,543	51,414
Investments	9,150	12,970
Other Assets | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	4,600
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 31,977	31,804
Auction rate securities | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value		$ 0
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Fair value measurements - Inves

Fair value measurements - Investments in Company-Sponsored Funds (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Fair Value	$ 9,660	$ 5,521
Unfunded Commitments	3,075	4,035
Hedge Funds
Investment Holdings [Line Items]
Fair Value	700	900
Unfunded Commitments	$ 0	$ 0
Hedge Funds | Minimum
Investment Holdings [Line Items]
Redemption Notice Period	30 days	30 days
Hedge Funds | Maximum
Investment Holdings [Line Items]
Redemption Notice Period	120 days	120 days
Private Equity Funds
Investment Holdings [Line Items]
Fair Value	$ 8,960	$ 4,621
Unfunded Commitments	$ 3,075	$ 4,035

Fair value measurements - Asset

Fair value measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Deposits with clearing organizations	$ 41,189	$ 29,083
Securities owned
Securities owned, at fair value	621,272	634,504	[1]
Securities owned and sold, fair value	621,272	634,504
Investments	9,150	12,970
Derivative contracts
Total	671,611	676,649
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	254,652	71,958	[1]
Derivative contracts:
Derivative contracts	374	368
Total	255,026	72,326
Corporate equities
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	10,431	18,679
Money markets
Securities owned
Securities owned, at fair value	314	31
Auction rate securities
Securities owned
Securities owned, at fair value	31,977	31,804
TBAs
Derivative contracts
Derivative contracts, total		92
Derivative contracts:
Derivative contracts	3	81
Futures
Derivative contracts:
Derivative contracts	371	287
U.S. Treasury securities
Securities owned
Securities owned, at fair value	367,425	505,875
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	233,450	42,298
U.S. Agency securities
Securities owned
Securities owned, at fair value	5,538	5,622
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	3	4
Sovereign obligations
Securities owned
Securities owned, at fair value	452	1,494
Corporate debt and other obligations
Securities owned
Securities owned, at fair value	9,382	8,111
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	4,867	2,515
Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	2,084	3,889
Municipal obligations
Securities owned
Securities owned, at fair value	162,530	18,520
Convertible bonds
Securities owned
Securities owned, at fair value	14,557	13,778
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	5,900	8,462
Corporate equities | Corporate equities
Securities owned
Securities owned, at fair value	27,013	45,380
Level 1
ASSETS
Deposits with clearing organizations	41,189	29,083
Securities owned
Securities owned, at fair value	394,752	551,286
Derivative contracts
Total	435,941	580,369
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	243,881	60,977
Derivative contracts:
Derivative contracts	371	287
Total	244,252	61,264
Level 1 | Money markets
Securities owned
Securities owned, at fair value	314	31
Level 1 | Futures
Derivative contracts:
Derivative contracts	371	287
Level 1 | U.S. Treasury securities
Securities owned
Securities owned, at fair value	367,425	505,875
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	233,450	42,298
Level 1 | U.S. Agency securities
Securities owned
Securities owned, at fair value	0	0
Level 1 | Corporate debt and other obligations
Securities owned
Securities owned, at fair value	0
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	0
Level 1 | Corporate equities
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	10,431	18,679
Level 1 | Corporate equities | Corporate equities
Securities owned
Securities owned, at fair value	27,013	45,380
Level 2
Securities owned
Securities owned, at fair value	194,543	51,414
Investments	9,150	12,970
Derivative contracts
Total	203,693	64,476
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	10,771	10,981
Derivative contracts:
Derivative contracts	3	81
Total	10,774	11,062
Level 2 | Auction rate securities
Securities owned
Securities owned, at fair value		0
Level 2 | TBAs
Derivative contracts
Derivative contracts, total		92
Derivative contracts:
Derivative contracts	3	81
Level 2 | U.S. Agency securities
Securities owned
Securities owned, at fair value	5,538	5,622
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	3	4
Level 2 | Sovereign obligations
Securities owned
Securities owned, at fair value	452	1,494
Level 2 | Corporate debt and other obligations
Securities owned
Securities owned, at fair value	9,382	8,111
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	4,867	2,515
Level 2 | Mortgage and other asset-backed securities
Securities owned
Securities owned, at fair value	2,084	3,889
Level 2 | Municipal obligations
Securities owned
Securities owned, at fair value	162,530	18,520
Level 2 | Convertible bonds
Securities owned
Securities owned, at fair value	14,557	13,778
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	5,900	8,462
Level 3
Securities owned
Securities owned, at fair value	31,977	31,804
Investments	0
Derivative contracts
Total	31,977	31,804
Securities sold, but not yet purchased
Securities sold but not yet purchased, at fair value	0
Derivative contracts:
Derivative contracts	0	0
Total	0	0
Level 3 | Auction rate securities
Securities owned
Securities owned, at fair value	$ 31,977	31,804
Level 3 | Municipal obligations
Securities owned
Securities owned, at fair value		$ 0
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

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	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
ARS purchase commitments
Liabilities
Liabilities Beginning Balance		$ 65		$ 195
Total Realized and Unrealized Gains (Losses)		(1)		(1)
Purchases and Issuances		0		0
Sales and Settlements		0		(130)
Transfers In (Out)		0		0
Liabilities Ending Balance		66		66
Auction rate securities
Assets
Assets Beginning Balance	$ 31,804	31,470	$ 31,804	30,701
Total Realized and Unrealized Losses	(27)	2	(27)	(129)
Purchases and Issuances	200	0	200	1,875
Sales and Settlements	0	(50)	0	(1,025)
Transfers In (Out)	0	0	0	0
Assets Ending Balance	$ 31,977	$ 31,422	$ 31,977	$ 31,422

Fair value measurements - Ass_2

Fair value measurements - Assets and Liabilities Not Measured at Fair Value on Recurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash	$ 36,606	$ 213,759
Restricted cash	127,875	127,765
Deposits with clearing organization	58,379	37,885
Securities borrowed	79,038	99,752
Receivables from brokers	42,255	39,716
Securities failed to deliver	26,705	9,212
Clearing organizations	19,355	19,518
Other	548	1,693
Total Receivable from brokers, dealers and clearing organizations	167,901	169,891
Receivable from customers	1,288,079	1,221,450
Securities purchased under agreements to resell		935
Notes receivable, net	59,099	53,983
Investments	78,246	99,169
Drafts payable	10,020
Bank call loans	177,300	69,500
Securities loaned	281,407	244,223
Payable to brokers	3,357	2,077
Securities failed to receive	50,028	6,457
Other	53,304	169,013
Total payables to brokers, dealers and clearing organizations	388,096	421,770
Payables to customers	419,315	456,958
Securities sold under agreements to repurchase	170,968	277,322
Senior secured notes	125,213	131,094
Level 1
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash	36,606	213,759
Restricted cash	127,875	127,765
Deposits with clearing organization	58,379	37,885
Drafts payable	10,020
Level 2
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities borrowed	79,038	99,752
Receivables from brokers	42,255	39,716
Securities failed to deliver	26,705	9,212
Clearing organizations	19,355	19,518
Other	548	1,693
Total Receivable from brokers, dealers and clearing organizations	167,901	169,891
Receivable from customers	1,288,079	1,221,450
Securities purchased under agreements to resell		935
Notes receivable, net	59,099	53,983
Investments	78,246	99,169
Bank call loans	177,300	69,500
Securities loaned	281,407	244,223
Payable to brokers	3,357	2,077
Securities failed to receive	50,028	6,457
Other	53,304	169,013
Total payables to brokers, dealers and clearing organizations	388,096	421,770
Payables to customers	419,315	456,958
Securities sold under agreements to repurchase	170,968	277,322
Senior secured notes	125,213	131,094
Carrying Value
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash	36,606	213,759
Restricted cash	127,875	127,765
Deposits with clearing organization	58,379	37,885
Securities borrowed	79,038	99,752
Receivables from brokers	42,255	39,716
Securities failed to deliver	26,705	9,212
Clearing organizations	19,355	19,518
Other	548	1,693
Total Receivable from brokers, dealers and clearing organizations	167,901	169,891
Receivable from customers	1,288,079	1,221,450
Securities purchased under agreements to resell		935
Notes receivable, net	59,099	53,983
Investments	78,246	99,169
Drafts payable	10,020
Bank call loans	177,300	69,500
Securities loaned	281,407	244,223
Payable to brokers	3,357	2,077
Securities failed to receive	50,028	6,457
Other	53,304	169,013
Total payables to brokers, dealers and clearing organizations	388,096	421,770
Payables to customers	419,315	456,958
Securities sold under agreements to repurchase	170,968	277,322
Senior secured notes	$ 125,000	$ 125,000

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	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	$ 127,192	$ 14,300
Derivatives asset, Fair Value	0	92
Derivative liability, notional	1,179,442	3,534,300
Derivative liability, Fair Value	374	368
TBAs | Other contracts
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	3,842	14,300
Derivatives asset, Fair Value	0	92
Derivative liability, notional	3,842	14,300
Derivative liability, Fair Value	3	81
Purchase commitments | Other contracts
Derivatives, Fair Value [Line Items]
Derivatives asset, Notional	123,350
Derivatives asset, Fair Value	0
Futures | Commodity contracts
Derivatives, Fair Value [Line Items]
Derivative liability, notional	1,175,600	3,520,000
Derivative liability, Fair Value	$ 371	$ 287

Fair value measurements - Fair

Fair value measurements - Fair Value Amounts of Derivative Instruments and their Effect on Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ 1,302	$ (1,010)	$ 3,555	$ 47
Commodity contracts | Principal Transaction Revenue | Futures
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	1,328	(525)	3,519	495
Other contracts | Principal Transaction Revenue | TBAs
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	(6)	14	56	51
Other contracts | Principal Transaction Revenue | Purchase commitments
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)		(490)		(490)
Other contracts | Principal Transaction Revenue | ARS purchase commitments
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)		(1)		(1)
Other contracts | Other | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax) Gain (Loss)	$ (20)	$ (8)	$ (20)	$ (8)

Collateralized transactions - N

Collateralized transactions - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 USD ($) dealer	Dec. 31, 2021 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bank call loans	$ 177,300,000	$ 69,500,000	[1]
Market value of securities	55,900,000
Market value of customer securities	145,000,000
Customer securities under customer margin loans that are available to be pledged	1,700,000,000
Re-pledged amounts under securities loans agreements	236,300,000
Customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers	518,500,000
Outstanding letters of credit	0
Amounts pledged	$ 316,605,000	266,428,000
Number of broker-dealers | dealer	3
Receivable from brokers and clearing organizations	$ 61,700,000
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions (in days)	1 day
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of business days for related transactions (in days)	2 days
Corporate equities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of securities received as collateral	$ 76,100,000	96,400,000
Corporate equities | Reverse Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of collateral	240,900,000	307,300,000
Corporate equities | Securities Borrowed Transactions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of Securities Received as Collateral, Sold and Re-Pledged under Securities Loaned	$ 31,600,000	29,400,000
Corporate equities | Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of collateral		$ 307,300,000
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Collateralized transactions - S

Collateralized transactions - Schedule of Disaggregation of Gross Obligations by Class (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. Government and Agency securities		$ 306,793
Equity securities		$ 244,223
Overnight and Open
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. Government and Agency securities	$ 411,713
Equity securities	281,407
Gross amount of recognized liabilities for repurchase agreements and securities loaned	$ 693,120

Collateralized transactions -_2

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	Jun. 30, 2022	Dec. 31, 2021
Reverse repurchase agreements
Gross Amounts of Recognized Assets	$ 240,745	$ 30,406
Gross Amounts Offset on the Balance Sheet	(240,745)	(29,471)
Net Amounts of Assets Presented on the Balance Sheet	0	935
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	0	935
Securities borrowed
Gross Amounts of Recognized Assets	79,038	99,752
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Assets Presented on the Balance Sheet	79,038	99,752
Financial Instruments	(78,758)	(96,929)
Cash Collateral Received	0	0
Net Amount	280	2,823
Total
Gross Amounts of Recognized Assets	319,783	130,158
Gross Amounts Offset on the Balance Sheet	(240,745)	(29,471)
Net Amounts of Assets Presented on the Balance Sheet	79,038	100,687
Financial Instruments	(78,758)	(96,929)
Cash Collateral Received	0	0
Net Amount	280	3,758
Repurchase agreements
Gross Amounts of Recognized Liabilities		306,793
Gross Amounts Offset on the Balance Sheet	(240,745)	(29,471)
Net Amounts of Liabilities Presented on the Balance Sheet	170,968	277,322
Financial Instruments	(170,691)	(276,992)
Cash Collateral Pledged	0	0
Net Amount	277	330
Securities loaned
Gross Amounts of Recognized Liabilities		244,223
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Liabilities Presented on the Balance Sheet	281,407	244,223
Financial Instruments	(266,801)	(236,597)
Cash Collateral Pledged	0	0
Net Amount	14,606	7,626
Total
Gross Amounts of Recognized Liabilities	693,120	551,016
Gross Amounts Offset on the Balance Sheet	(240,745)	(29,471)
Net Amounts of Liabilities Presented on the Balance Sheet	452,375	521,545
Financial Instruments	(437,492)	(513,589)
Cash Collateral Pledged	0	0
Net Amount	$ 14,883	$ 7,956

Variable interest entities ("_3

Variable interest entities ("VIEs") (Details) $ in Thousands	Oct. 26, 2021 USD ($)	Jun. 30, 2022 USD ($) company	Dec. 31, 2021 USD ($)	[1]	Jun. 30, 2021 USD ($)
Variable Interest Entity [Line Items]
Number of special purpose acquisition companies | company		2
Proceeds from Company sponsored Initial Public Offering	$ 126,500
Cash and cash equivalents		$ 36,606	$ 213,759		$ 39,798
Restricted Cash		127,875	127,765		0
Other Assets		168,440	205,838
Total Assets		2,920,581	3,043,250
Total Liabilities		2,011,448	$ 2,090,220
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Proceeds from Company sponsored Initial Public Offering	$ 126,500
Cash and cash equivalents		1,458			0
Restricted Cash		127,875			0
Other Assets		568			0
Total Assets		129,901			0
Other Liabilities		123			0
Total Liabilities		$ 123			$ 0
[1]Certain prior period reported amounts were reclassified to conform to the current period presentation, see Note 2

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Sep. 22, 2020
Debt Instrument [Line Items]
Unamortized Debt Issuance Cost	$ (800)	$ (926)
Long-term debt	124,200	124,074
5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 125,000	$ 125,000
5.50% Senior Secured Notes | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)			5.50%

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Nov. 23, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Sep. 28, 2020	Sep. 22, 2020
Debt Instrument [Line Items]
Debt issuance costs								$ 3,100,000
Debt issuance cost, amount paid to subsidiary								1,900,000
Debt issuance costs capitalized								$ 1,200,000
5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 125,000,000		$ 125,000,000		$ 125,000,000
Interest expense		$ 1,700,000	$ 1,700,000	$ 3,400,000	$ 3,400,000
6.75% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross							$ 150,000,000
Long term debt held in treasury							1,400,000
Long term debt outstanding, net of amount held in treasury							148,600,000
Senior Secured Notes | 5.50% Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								5.50%
Aggregate principal amount of debt issued								$ 125,000,000
Issue price (as a percent)								100%
Redemption price (as a percent)	99.80%
Interest rate during period (as a percent)		5.50%		5.50%
Senior Secured Notes | 6.75% Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								6.75%
Long-term debt, gross							$ 150,000,000

Income taxes (Details)

Income taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	23.50%	27.80%	37.10%	26.70%

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	May 24, 2022	Mar. 31, 2022	Feb. 28, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	May 15, 2020
Class of Stock [Line Items]
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001				$ 0.001
Preferred stock, issued (in shares)	0	0
Class A Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)	50,000,000	50,000,000				50,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, outstanding (in shares)	11,270,944	11,270,944	11,863,559	12,156,174	12,322,073	12,447,036	12,592,646	12,586,043	12,381,778	12,636,523
Common stock, issued (in shares)	11,270,944	11,270,944				12,447,036
Class A Stock | New Program
Class of Stock [Line Items]
Repurchase of class A common stock (in shares)			550,000		518,000					530,000
Shares repurchased as a percent of shares outstanding (as a percent)			4.60%		4.20%					4.20%
Remaining amount authorized for repurchase (in shares)	29,278	29,278	621,893		530,407					628,625
Stock repurchased (in shares)	885,230	1,262,543
Total consideration for repurchase of stock	$ 30.2	$ 46.4
Stock repurchased (in dollars per share)	$ 34.13	$ 36.73
Class A Stock | Previous Program
Class of Stock [Line Items]
Remaining amount authorized for repurchase (in shares)			71,893		12,407					98,625
Class B Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)	99,665	99,665				99,665
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, outstanding (in shares)	99,665	99,665				99,665
Common stock, issued (in shares)	99,665	99,665				99,665

Stockholder's Equity - Changes

Stockholder's Equity - Changes in Number of Shares of Class A Stock Outstanding (Details) - Class A Stock - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Class A Stock outstanding, beginning of period	12,156,174	12,586,043	12,447,036	12,381,778
Issued pursuant to share-based compensation plans	0	6,603	86,451	210,868
Repurchased and canceled pursuant to the stock buy-back	(885,230)	0	(1,262,543)	0
Class A Stock outstanding, end of period	11,270,944	12,592,646	11,270,944	12,592,646

Contingencies (Details)

Contingencies (Details) $ in Millions	Aug. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) arbitration
Loss Contingencies [Line Items]
Number of arbitrations | arbitration		24
Damages sought	$ 41.3
Minimum
Loss Contingencies [Line Items]
Estimated range of loss in excess of amounts accrued		$ 0
Maximum
Loss Contingencies [Line Items]
Estimated range of loss in excess of amounts accrued		$ 41.3

Regulatory requirements (Detail

Regulatory requirements (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)	Jan. 31, 2022 GBP (£)	Dec. 31, 2021 EUR (€)
Oppenheimer
Regulatory Capital Requirements [Line Items]
Required percentage of net capital to aggregate customer-related debit items (as a percent)	2%
Net capital	$ 435,600,000
Aggregate indebtedness (as a percent)	27.53%
Excess capital	$ 404,000,000
Freedom
Regulatory Capital Requirements [Line Items]
Net capital	$ 4,400,000
Aggregate indebtedness (as a percent)	6.67%
Freedom maintain net capital equal to the greater	$ 100,000
Net capital in excess of minimum required	$ 4,300,000
Oppenheimer Europe Ltd
Regulatory Capital Requirements [Line Items]
Common Equity Tier 1 Ratio (as a percent)	1.30
Common Equity Tier 1 Ratio Required (as a percent)	56%
Tier 1 Capital Ratio Required (as a percent)	75%
Total Capital Ratio (as a percent)	174%
Total Capital Ratio Required (as a percent)	100%
Regulatory capital required to be maintained		£ 750,000	€ 730,000
Oppenheimer Investments Asia Ltd.
Regulatory Capital Requirements [Line Items]
Regulatory capital required to be maintained	$ 382,297
Net capital	4,800,000
Excess Liquid Capital under Hong Kong SFC Rules	$ 4,400,000

Segment information - Reported

Segment information - Reported Revenue and Profit Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue
Total	$ 237,222	$ 340,293	$ 503,250	$ 713,575
Pre-Tax Income (Loss)
Total pre-tax income (loss)	(6,169)	43,168	8,044	95,295
Private Client Division
Revenue
Total	144,471	166,863	295,318	330,886
Pre-Tax Income (Loss)
Total pre-tax income (loss)	$ 38,800	21,673	62,946	45,936
Asset management fees (as a percent)	90%
Asset Management
Revenue
Total	$ 24,315	25,544	51,432	49,774
Pre-Tax Income (Loss)
Total pre-tax income (loss)	$ 8,120	8,638	17,594	16,191
Asset management fees (as a percent)	10%
Capital markets
Revenue
Total	$ 71,274	147,945	156,325	331,544
Pre-Tax Income (Loss)
Total pre-tax income (loss)	(17,935)	39,373	(16,769)	89,364
Corporate/Other
Revenue
Total	(2,838)	(59)	175	1,371
Pre-Tax Income (Loss)
Total pre-tax income (loss)	$ (35,154)	$ (26,516)	$ (55,727)	$ (56,196)

Segment information - Revenue C

Segment information - Revenue Classified by Major Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 237,222	$ 340,293	$ 503,250	$ 713,575
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	225,500	326,485	477,410	683,192
Europe/Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	10,474	12,501	22,451	27,911
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 1,248	$ 1,307	$ 3,389	$ 2,472

Subsequent events (Details)

Subsequent events (Details) - $ / shares	Jul. 29, 2022	Jul. 28, 2022	Jun. 30, 2022	Dec. 31, 2021
Subsequent Event
Subsequent Events [Line Items]
Repurchase of class A common stock (in shares)		4,278
Remaining amount authorized for repurchase (in shares)		540,778
Class A Stock
Subsequent Events [Line Items]
Common stock, issued (in shares)			11,270,944	12,447,036
Class A Stock | Subsequent Event
Subsequent Events [Line Items]
Quarterly dividend payable amount per share (in dollars per share)	$ 0.15
Repurchase of class A common stock (in shares)		536,500
Shares authorized for purchase as a percentage of common stock issued and outstanding		4.80%
Common stock, issued (in shares)		11,251,930
Class B Stock
Subsequent Events [Line Items]
Common stock, issued (in shares)			99,665	99,665
Class B Stock | Subsequent Event
Subsequent Events [Line Items]
Quarterly dividend payable amount per share (in dollars per share)	$ 0.15