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v3.19.1

Supplemental Guarantor Consolidated Financial Statements (Tables) | 3 Months Ended
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Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Income Statement |
Condensed Consolidating Balance Sheet | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 49,844 |  |  | $ | 3,612 |  |  | $ | 29,617 |  |  | $ | — |  |  | $ | 83,073 |
Deposits with clearing organizations | — |  |  | — |  |  | 55,069 |  |  | — |  |  | 55,069 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 180,221 |  |  | — |  |  | 180,221 |
Receivable from customers, net of allowance for credit losses of $898 | — |  |  | — |  |  | 753,625 |  |  | — |  |  | 753,625 |
Income tax receivable | 46,821 |  |  | 22,681 |  |  | (702 | ) |  | (68,800 | ) |  | — |
Securities purchased under agreements to resell | — |  |  |  |  |  | 589 |  |  | — |  |  | 589 |
Securities owned, including amounts pledged of $390,832, at fair value | — |  |  | 1,443 |  |  | 910,025 |  |  | — |  |  | 911,468 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,548 and $6,841, respectively | — |  |  | — |  |  | 43,921 |  |  | — |  |  | 43,921 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $90,974 | — |  |  | 21,897 |  |  | 8,831 |  |  | — |  |  | 30,728 |
Right-of-use lease assets, net of accumulated amortization of $6,797 | — |  |  | 164,250 |  |  | 6,974 |  |  | — |  |  | 171,224 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 211 |  |  | 1,975 |  |  | 125,471 |  |  | — |  |  | 127,657 |
Deferred tax assets | 255 |  |  | 446 |  |  | 16,535 |  |  | (17,236 | ) |  | — |
Investment in subsidiaries | 676,344 |  |  | 539,316 |  |  | — |  |  | (1,215,660 | ) |  | — |
Intercompany receivables | (13,818 | ) |  | 48,400 |  |  | (8,252 | ) |  | (26,330 | ) |  | — |
Total assets | $ | 759,657 |  |  | $ | 916,978 |  |  | $ | 2,291,513 |  |  | $ | (1,440,584 | ) |  | $ | 2,527,564 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 13,533 |  |  | $ | — |  |  | $ | 13,533 |
Bank call loans | — |  |  | — |  |  | — |  |  | — |  |  | — |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 634,333 |  |  | — |  |  | 634,333 |
Payable to customers | — |  |  | — |  |  | 334,376 |  |  | — |  |  | 334,376 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 268,621 |  |  | — |  |  | 268,621 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 137,286 |  |  | — |  |  | 137,286 |
Accrued compensation | — |  |  | — |  |  | 106,869 |  |  | — |  |  | 106,869 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 45,332 |  |  | (68,799 | ) |  | 1,162 |
Accounts payable and other liabilities | 3,570 |  |  | (8,444 | ) |  | 53,744 |  |  | (8 | ) |  | 48,862 |
Lease liabilities | — |  |  | 205,229 |  |  | 7,741 |  |  | — |  |  | 212,970 |
Senior secured notes, net of debt issuance cost of $840 | 199,160 |  |  | — |  |  | — |  |  | — |  |  | 199,160 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | (411 | ) |  | 33,546 |  |  | (17,230 | ) |  | 15,905 |
Intercompany payables | — |  |  | 28,658 |  |  | — |  |  | (28,658 | ) |  | — |
Total liabilities | 205,170 |  |  | 247,221 |  |  | 1,747,939 |  |  | (227,253 | ) |  | 1,973,077 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Total stockholders' equity | 554,487 |  |  | 669,757 |  |  | 543,574 |  |  | (1,213,331 | ) |  | 554,487 |
Total liabilities and stockholders' equity | $ | 759,657 |  |  | $ | 916,978 |  |  | $ | 2,291,513 |  |  | $ | (1,440,584 | ) |  | $ | 2,527,564 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 53,526 |  |  | $ | 3,826 |  |  | $ | 33,323 |  |  | $ | — |  |  | $ | 90,675 |
Deposits with clearing organizations | — |  |  | — |  |  | 67,678 |  |  | — |  |  | 67,678 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 166,493 |  |  | — |  |  | 166,493 |
Receivable from customers, net of allowance for credit losses of $886 | — |  |  | — |  |  | 720,777 |  |  | — |  |  | 720,777 |
Income tax receivable | 45,733 |  |  | 23,491 |  |  | (702 | ) |  | (67,508 | ) |  | 1,014 |
Securities purchased under agreements to resell | — |  |  | — |  |  | 290 |  |  | — |  |  | 290 |
Securities owned, including amounts pledged of $517,951 at fair value | — |  |  | 1,358 |  |  | 836,226 |  |  | — |  |  | 837,584 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $25,109 and $6,800, respectively | — |  |  | — |  |  | 44,058 |  |  | — |  |  | 44,058 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $89,182 | — |  |  | 20,722 |  |  | 8,266 |  |  | — |  |  | 28,988 |
Subordinated loan receivable | — |  |  | 112,558 |  |  | — |  |  | (112,558 | ) |  | — |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 135 |  |  | 2,581 |  |  | 110,052 |  |  | — |  |  | 112,768 |
Deferred tax assets | 1 |  |  | 455 |  |  | 18,494 |  |  | (18,950 | ) |  | — |
Investment in subsidiaries | 661,837 |  |  | 546,704 |  |  | — |  |  | (1,208,541 | ) |  | — |
Intercompany receivables | (14,211 | ) |  | 46,840 |  |  | (6,299 | ) |  | (26,330 | ) |  | — |
Total assets | $ | 747,021 |  |  | $ | 758,935 |  |  | $ | 2,168,245 |  |  | $ | (1,433,887 | ) |  | $ | 2,240,314 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 16,348 |  |  | $ | — |  |  | $ | 16,348 |
Bank call loans | — |  |  | — |  |  | 15,000 |  |  | — |  |  | 15,000 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 289,207 |  |  | — |  |  | 289,207 |
Payable to customers | — |  |  | — |  |  | 336,616 |  |  | — |  |  | 336,616 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 484,218 |  |  | — |  |  | 484,218 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 85,446 |  |  | — |  |  | 85,446 |
Accrued compensation | — |  |  | — |  |  | 167,348 |  |  | — |  |  | 167,348 |
Accounts payable and other liabilities | 163 |  |  | 31,653 |  |  | 55,823 |  |  | (9 | ) |  | 87,630 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 42,878 |  |  | (67,507 | ) |  | — |
Senior secured notes, net of debt issuance costs of $904 | 199,096 |  |  | — |  |  | — |  |  | — |  |  | 199,096 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | — |  |  | 33,029 |  |  | (18,946 | ) |  | 14,083 |
Intercompany payables | — |  |  | 26,334 |  |  | — |  |  | (26,334 | ) |  | — |
Total liabilities | 201,699 |  |  | 80,176 |  |  | 1,638,471 |  |  | (225,354 | ) |  | 1,694,992 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Total stockholders' equity | 545,322 |  |  | 678,759 |  |  | 529,774 |  |  | (1,208,533 | ) |  | 545,322 |
Total liabilities and stockholders' equity | $ | 747,021 |  |  | $ | 758,935 |  |  | $ | 2,168,245 |  |  | $ | (1,433,887 | ) |  | $ | 2,240,314 |
Condensed Consolidating Statement of Cash Flows | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 799 |  |  | $ | (214 | ) |  | $ | 14,742 |  |  | $ | — |  |  | $ | 15,327 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (3,448 | ) |  | — |  |  | (3,448 | )
Cash used in investing activities | — |  |  | — |  |  | (3,448 | ) |  | — |  |  | (3,448 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (1,432 | ) |  | — |  |  | — |  |  | — |  |  | (1,432 | )
Repurchase of Class A non-voting common stock | (2,035 | ) |  | — |  |  | — |  |  | — |  |  | (2,035 | )
Payments for employee taxes withheld related to vested share-based awards | (1,014 | ) |  | — |  |  | — |  |  | — |  |  | (1,014 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (15,000 | ) |  | — |  |  | (15,000 | )
Cash used in financing activities | (4,481 | ) |  | — |  |  | (15,000 | ) |  | — |  |  | (19,481 | )
Net decrease in cash and cash equivalents | (3,682 | ) |  | (214 | ) |  | (3,706 | ) |  | — |  |  | (7,602 | )
Cash and cash equivalents, beginning of the period | 53,526 |  |  | 3,826 |  |  | 33,323 |  |  | — |  |  | 90,675 |
Cash and cash equivalents, end of the period | $ | 49,844 |  |  | $ | 3,612 |  |  | $ | 29,617 |  |  | $ | — |  |  | $ | 83,073 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 1,954 |  |  | $ | 919 |  |  | $ | (30,416 | ) |  | $ | — |  |  | $ | (27,543 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (2,696 | ) |  | — |  |  | (2,696 | )
Purchase of intangible assets | — |  |  | (400 | ) |  | — |  |  | — |  |  | (400 | )
Cash used in investing activities | — |  |  | — |  |  | (2,696 | ) |  | — |  |  | (3,096 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (1,456 | ) |  | — |  |  | — |  |  | — |  |  | (1,456 | )
Payments for employee taxes withheld related to vested share-based awards | (2,444 | ) |  | — |  |  | — |  |  | — |  |  | (2,444 | )
Increase in bank call loans, net | — |  |  | — |  |  | 29,100 |  |  | — |  |  | 29,100 |
Cash provided by (used in) financing activities | (3,900 | ) |  | — |  |  | 29,100 |  |  | — |  |  | 25,200 |
Net increase (decrease) in cash and cash equivalents | (1,946 | ) |  | 519 |  |  | (4,012 | ) |  | — |  |  | (5,439 | )
Cash and cash equivalents, beginning of the period | 7,442 |  |  | 3,716 |  |  | 36,996 |  |  | — |  |  | 48,154 |
Cash and cash equivalents, end of the period | $ | 5,496 |  |  | $ | 4,235 |  |  | $ | 32,984 |  |  | $ | — |  |  | $ | 42,715 |

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