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v3.19.3.a.u2

Supplemental Guarantor Consolidated Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Balance Sheet | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 4,811 |  |  | $ | 2,179 |  |  | $ | 72,560 |  |  | $ | — |  |  | $ | 79,550 |
Deposits with clearing organizations | — |  |  | — |  |  | 48,415 |  |  | — |  |  | 48,415 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 158,231 |  |  | 5,062 |  |  | 163,293 |
Receivable from customers, net of allowance for credit losses of $451 | — |  |  | — |  |  | 796,934 |  |  | — |  |  | 796,934 |
Income tax receivable | 42,556 |  |  | 16,469 |  |  | — |  |  | (53,855 | ) |  | 5,170 |
Securities owned, including amounts pledged of $357,120, at fair value | — |  |  | 1,352 |  |  | 798,367 |  |  | — |  |  | 799,719 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $38,355 and $3,673, respectively | — |  |  | — |  |  | 43,670 |  |  | — |  |  | 43,670 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $94,773 | — |  |  | 22,537 |  |  | 8,840 |  |  | — |  |  | 31,377 |
Subordinated loan receivable | 209 |  |  | 112,558 |  |  | — |  |  | (112,767 | ) |  | — |
Right-of-use lease assets, net of accumulated amortization of $25,186 | — |  |  | 153,780 |  |  | 6,517 |  |  | — |  |  | 160,297 |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 154 |  |  | 11,798 |  |  | 164,821 |  |  | (10,432 | ) |  | 166,341 |
Deferred tax assets | 4 |  |  | 7,048 |  |  | 2,449 |  |  | (9,501 | ) |  | — |
Investment in subsidiaries | 697,093 |  |  | 763,990 |  |  | 24,656 |  |  | (1,485,739 | ) |  | — |
Intercompany receivables | 2,875 |  |  | 67,923 |  |  | — |  |  | (70,798 | ) |  | — |
Total assets | $ | 747,702 |  |  | $ | 1,160,034 |  |  | $ | 2,295,049 |  |  | $ | (1,738,030 | ) |  | $ | 2,464,755 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Payable to brokers, dealers and clearing organizations | $ | — |  |  | $ | — |  |  | $ | 520,975 |  |  | $ | — |  |  | $ | 520,975 |
Payable to customers | — |  |  | — |  |  | 334,735 |  |  | — |  |  | 334,735 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 287,265 |  |  | — |  |  | 287,265 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 100,571 |  |  | — |  |  | 100,571 |
Accrued compensation | — |  |  | — |  |  | 207,358 |  |  | — |  |  | 207,358 |
Accounts payable and other liabilities | 5,166 |  |  | 75 |  |  | 50,049 |  |  | (10,565 | ) |  | 44,725 |
Lease liabilities | — |  |  | 196,234 |  |  | 6,906 |  |  | — |  |  | 203,140 |
Income tax payable | — |  |  | 40 |  |  | 703 |  |  | (743 | ) |  | — |
Senior secured notes, net of debt issuance cost of $485 | 149,515 |  |  | — |  |  | — |  |  | — |  |  | 149,515 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | — |  |  | 33,546 |  |  | (9,797 | ) |  | 23,749 |
Intercompany payables | 299 |  |  | — |  |  | — |  |  | (299 | ) |  | — |
Total liabilities | 154,980 |  |  | 196,349 |  |  | 1,654,666 |  |  | (133,962 | ) |  | 1,872,033 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Stockholders' equity | 592,722 |  |  | 963,685 |  |  | 640,383 |  |  | (1,604,068 | ) |  | 592,722 |
Total liabilities and stockholders' equity | $ | 747,702 |  |  | $ | 1,160,034 |  |  | $ | 2,295,049 |  |  | $ | (1,738,030 | ) |  | $ | 2,464,755 |
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 |  |  |  |  |  |  |  |  |
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 Operations | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 320,114 |  |  | $ | — |  |  | $ | 320,114 |
Advisory fees | — |  |  | 1,853 |  |  | 356,165 |  |  | (4,347 | ) |  | 353,671 |
Investment banking | — |  |  | — |  |  | 126,211 |  |  | — |  |  | 126,211 |
Bank deposit sweep income | — |  |  | — |  |  | 117,422 |  |  | — |  |  | 117,422 |
Interest | 237 |  |  | 8,238 |  |  | 50,538 |  |  | (8,290 | ) |  | 50,723 |
Principal transactions, net | — |  |  | 118 |  |  | 29,988 |  |  | (12 | ) |  | 30,094 |
Other | 3 |  |  | 2 |  |  | 35,138 |  |  | 1 |  |  | 35,144 |
Total revenue | 240 |  |  | 10,211 |  |  | 1,035,576 |  |  | (12,648 | ) |  | 1,033,379 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 1,323 |  |  | — |  |  | 656,398 |  |  | (7 | ) |  | 657,714 |
Communications and technology | 172 |  |  | — |  |  | 81,416 |  |  | — |  |  | 81,588 |
Occupancy and equipment costs | — |  |  | (1 | ) |  | 62,198 |  |  | 1 |  |  | 62,198 |
Clearing and exchange fees | — |  |  | — |  |  | 21,962 |  |  | — |  |  | 21,962 |
Interest | 12,319 |  |  | — |  |  | 41,659 |  |  | (8,291 | ) |  | 45,687 |
Other | 2,814 |  |  | 1,366 |  |  | 89,489 |  |  | (4,351 | ) |  | 89,318 |
Total expenses | 16,628 |  |  | 1,365 |  |  | 953,122 |  |  | (12,648 | ) |  | 958,467 |
Income (loss) before income taxes | (16,388 | ) |  | 8,846 |  |  | 82,454 |  |  | — |  |  | 74,912 |
Income taxes expenses (benefits) | (4,609 | ) |  | 2,151 |  |  | 24,417 |  |  | — |  |  | 21,959 |
Net income (loss) | (11,779 | ) |  | 6,695 |  |  | 58,037 |  |  | — |  |  | 52,953 |
Equity in earnings of subsidiaries | 64,732 |  |  | 58,037 |  |  | — |  |  | (122,769 | ) |  | — |
Net income | 52,953 |  |  | 64,732 |  |  | 58,037 |  |  | (122,769 | ) |  | 52,953 |
Other comprehensive income | — |  |  | — |  |  | 1,596 |  |  | — |  |  | 1,596 |
Total comprehensive income | $ | 52,953 |  |  | $ | 64,732 |  |  | $ | 59,633 |  |  | $ | (122,769 | ) |  | $ | 54,549 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 329,668 |  |  | $ | — |  |  | $ | 329,668 |
Advisory fees | — |  |  | 1,938 |  |  | 316,829 |  |  | (4,418 | ) |  | 314,349 |
Investment banking | — |  |  | — |  |  | 115,353 |  |  | — |  |  | 115,353 |
Bank deposit sweep income | — |  |  | — |  |  | 116,052 |  |  | — |  |  | 116,052 |
Interest | 66 |  |  | 8,247 |  |  | 52,481 |  |  | (8,310 | ) |  | 52,484 |
Principal transactions, net | — |  |  | — |  |  | 14,515 |  |  | (54 | ) |  | 14,461 |
Other | — |  |  | 443 |  |  | 15,782 |  |  | (438 | ) |  | 15,787 |
Total revenue | 66 |  |  | 10,628 |  |  | 960,680 |  |  | (13,220 | ) |  | 958,154 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 1,548 |  |  | — |  |  | 605,644 |  |  | — |  |  | 607,192 |
Communications and technology | 163 |  |  | — |  |  | 74,316 |  |  | — |  |  | 74,479 |
Occupancy and equipment costs | — |  |  | — |  |  | 61,610 |  |  | (439 | ) |  | 61,171 |
Clearing and exchange fees | — |  |  | — |  |  | 22,985 |  |  | — |  |  | 22,985 |
Interest | 13,500 |  |  | — |  |  | 41,205 |  |  | (8,309 | ) |  | 46,396 |
Other | 1,208 |  |  | 4,059 |  |  | 100,213 |  |  | (4,418 | ) |  | 101,062 |
Total expenses | 16,419 |  |  | 4,059 |  |  | 905,973 |  |  | (13,166 | ) |  | 913,285 |
Income (loss) before income taxes | (16,353 | ) |  | 6,569 |  |  | 54,707 |  |  | (54 | ) |  | 44,869 |
Income taxes expenses (benefits) | (4,371 | ) |  | 2,052 |  |  | 18,296 |  |  | — |  |  | 15,977 |
Net income (loss) | (11,982 | ) |  | 4,517 |  |  | 36,411 |  |  | (54 | ) |  | 28,892 |
Equity in earnings of subsidiaries | 40,874 |  |  | 36,411 |  |  | — |  |  | (77,285 | ) |  | — |
Net income | 28,892 |  |  | 40,928 |  |  | 36,411 |  |  | (77,339 | ) |  | 28,892 |
Other comprehensive income (loss) | — |  |  | — |  |  | (1,417 | ) |  | — |  |  | (1,417 | )
Total comprehensive income | $ | 28,892 |  |  | $ | 40,928 |  |  | $ | 34,994 |  |  | $ | (77,339 | ) |  | $ | 27,475 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2017
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 336,620 |  |  | $ | — |  |  | $ | 336,620 |
Advisory fees | — |  |  | 1,752 |  |  | 323,114 |  |  | (4,120 | ) |  | 320,746 |
Investment banking | — |  |  | — |  |  | 81,215 |  |  | (3,000 | ) |  | 78,215 |
Bank deposit sweep income | — |  |  | — |  |  | 76,839 |  |  | — |  |  | 76,839 |
Interest | — |  |  | 9,589 |  |  | 48,548 |  |  | (9,639 | ) |  | 48,498 |
Principal transactions, net | — |  |  | 17 |  |  | 23,256 |  |  | — |  |  | 23,273 |
Other | 22 |  |  | 361 |  |  | 36,123 |  |  | (359 | ) |  | 36,147 |
Total revenue | 22 |  |  | 11,719 |  |  | 925,715 |  |  | (17,118 | ) |  | 920,338 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 1,237 |  |  | — |  |  | 600,901 |  |  | — |  |  | 602,138 |
Communications and technology | 160 |  |  | — |  |  | 71,818 |  |  | — |  |  | 71,978 |
Occupancy and equipment costs | — |  |  | — |  |  | 61,523 |  |  | (359 | ) |  | 61,164 |
Clearing and exchange fees | — |  |  | — |  |  | 23,545 |  |  | — |  |  | 23,545 |
Interest | 13,740 |  |  | — |  |  | 24,253 |  |  | (9,639 | ) |  | 28,354 |
Other | 4,969 |  |  | 1,382 |  |  | 114,376 |  |  | (7,120 | ) |  | 113,607 |
Total expenses | 20,106 |  |  | 1,382 |  |  | 896,416 |  |  | (17,118 | ) |  | 900,786 |
Income (loss) before income taxes | (20,084 | ) |  | 10,337 |  |  | 29,299 |  |  | — |  |  | 19,552 |
Income taxes expenses (benefits) | (7,110 | ) |  | (12,655 | ) |  | 17,631 |  |  | — |  |  | (2,134 | )
Net income (loss) from continuing operations | (12,974 | ) |  | 22,992 |  |  | 11,668 |  |  | — |  |  | 21,686 |
Discontinued operations |  |  |  |  |  |  |  |  |
Income from discontinued operations | — |  |  | — |  |  | 2,071 |  |  | — |  |  | 2,071 |
Income taxes | — |  |  | — |  |  | 941 |  |  | — |  |  | 941 |
Net income from discontinued operations | — |  |  | — |  |  | 1,130 |  |  | — |  |  | 1,130 |
Equity in earnings of subsidiaries | 35,790 |  |  | 12,798 |  |  | — |  |  | (48,588 | ) |  | — |
Net income | 22,816 |  |  | 35,790 |  |  | 12,798 |  |  | (48,588 | ) |  | 22,816 |
Other comprehensive income | — |  |  | — |  |  | 2,263 |  |  | — |  |  | 2,263 |
Total comprehensive income | $ | 22,816 |  |  | $ | 35,790 |  |  | $ | 15,061 |  |  | $ | (48,588 | ) |  | $ | 25,079 |
Condensed Consolidating Statement of Cash Flows | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 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 | $ | 18,248 |  |  | $ | (1,647 | ) |  | $ | 62,541 |  |  | $ | — |  |  | $ | 79,142 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (10,024 | ) |  | — |  |  | (10,024 | )
Proceeds from the settlement of Company-owned life insurance | — |  |  | — |  |  | 1,720 |  |  | — |  |  | 1,720 |
Cash used in investing activities | — |  |  | — |  |  | (8,304 | ) |  | — |  |  | (8,304 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (5,944 | ) |  | — |  |  | — |  |  | — |  |  | (5,944 | )
Issuance of Class A non-voting common stock | 83 |  |  | — |  |  | — |  |  | — |  |  | 83 |
Repurchase of Class A non-voting common stock for cancellation | (8,400 | ) |  | — |  |  | — |  |  | — |  |  | (8,400 | )
Payments of employee taxes withheld related to vested share-based awards | (1,014 | ) |  | — |  |  | — |  |  | — |  |  | (1,014 | )
Redemption of senior secured notes | (50,000 | ) |  | — |  |  | — |  |  | — |  |  | (50,000 | )
Debt redemption costs | (1,688 | ) |  | — |  |  | — |  |  | — |  |  | (1,688 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (15,000 | ) |  | — |  |  | (15,000 | )
Cash used in financing activities | (66,963 | ) |  | — |  |  | (15,000 | ) |  | — |  |  | (81,963 | )
Net increase (decrease) in cash and cash equivalents | (48,715 | ) |  | (1,647 | ) |  | 39,237 |  |  | — |  |  | (11,125 | )
Cash and cash equivalents, beginning of the year | 53,526 |  |  | 3,826 |  |  | 33,323 |  |  | — |  |  | 90,675 |
Cash and cash equivalents, end of the year | $ | 4,811 |  |  | $ | 2,179 |  |  | $ | 72,560 |  |  | $ | — |  |  | $ | 79,550 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2018
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by operating activities | $ | 60,270 |  |  | $ | 510 |  |  | $ | 107,790 |  |  | $ | — |  |  | $ | 168,570 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (8,672 | ) |  | — |  |  | (8,672 | )
Purchase of intangible assets | — |  |  | (400 | ) |  | — |  |  | — |  |  | (400 | )
Proceeds from the settlement of Company-owned life insurance | — |  |  | — |  |  | 881 |  |  | — |  |  | 881 |
Cash used in investing activities | — |  |  | (400 | ) |  | (7,791 | ) |  | — |  |  | (8,191 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (5,833 | ) |  | — |  |  | — |  |  | — |  |  | (5,833 | )
Cash dividends paid to non-controlling interest | — |  |  | — |  |  | (372 | ) |  | — |  |  | (372 | )
Issuance of Class A non-voting common stock | 70 |  |  | — |  |  | — |  |  | — |  |  | 70 |
Repurchase of Class A non-voting common stock for cancellation | (5,894 | ) |  | — |  |  | — |  |  | — |  |  | (5,894 | )
Payments of employee taxes withheld related to vested share-based awards | (2,529 | ) |  | — |  |  | — |  |  | — |  |  | (2,529 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (103,300 | ) |  | — |  |  | (103,300 | )
Cash used in financing activities | (14,186 | ) |  | — |  |  | (103,672 | ) |  | — |  |  | (117,858 | )
Net increase (decrease) in cash and cash equivalents | 46,084 |  |  | 110 |  |  | (3,673 | ) |  | — |  |  | 42,521 |
Cash and cash equivalents, beginning of the year | 7,442 |  |  | 3,716 |  |  | 36,996 |  |  | — |  |  | 48,154 |
Cash and cash equivalents, end of the year | $ | 53,526 |  |  | $ | 3,826 |  |  | $ | 33,323 |  |  | $ | — |  |  | $ | 90,675 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2017
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | (25,979 | ) |  | $ | (6,568 | ) |  | $ | 16,411 |  |  | $ | — |  |  | $ | (16,136 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (5,611 | ) |  | — |  |  | (5,611 | )
Proceeds from the settlement of Company-owned life insurance | — |  |  | — |  |  | 1,744 |  |  | — |  |  | 1,744 |
Cash used in investing activities | — |  |  | — |  |  | (3,867 | ) |  | — |  |  | (3,867 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (5,836 | ) |  | — |  |  | — |  |  | — |  |  | (5,836 | )
Cash dividends paid to non-controlling interest | — |  |  | — |  |  | (2,448 | ) |  | — |  |  | (2,448 | )
Issuance of Class A non-voting common stock | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |
Repurchase of Class A non-voting common stock for cancellation | (7,464 | ) |  | — |  |  | — |  |  | — |  |  | (7,464 | )
Payments of employee taxes withheld related to vested share-based awards | (2,237 | ) |  | — |  |  | — |  |  | — |  |  | (2,237 | )
Issuance of senior secured notes | 200,000 |  |  | — |  |  | — |  |  | — |  |  | 200,000 |
Redemption of senior secured notes | (150,000 | ) |  | — |  |  | — |  |  | — |  |  | (150,000 | )
Debt issuance costs | (1,297 | ) |  | — |  |  | — |  |  | — |  |  | (1,297 | )
Decrease in bank call loans, net | — |  |  | — |  |  | (27,500 | ) |  | — |  |  | (27,500 | )
Cash provided by (used in) financing activities | 33,192 |  |  | — |  |  | (29,948 | ) |  | — |  |  | 3,244 |
Net increase (decrease) in cash and cash equivalents | 7,213 |  |  | (6,568 | ) |  | (17,404 | ) |  | — |  |  | (16,759 | )
Cash and cash equivalents, beginning of the year | 229 |  |  | 10,284 |  |  | 54,400 |  |  | — |  |  | 64,913 |
Cash and cash equivalents, end of the year | $ | 7,442 |  |  | $ | 3,716 |  |  | $ | 36,996 |  |  | $ | — |  |  | $ | 48,154 |

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