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v3.20.1

Supplemental Guarantor Consolidated Financial Statements (Tables) | 3 Months Ended
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Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Income Statement |
Condensed Consolidating Balance Sheet | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,950 |  |  | $ | 67 |  |  | $ | 21,523 |  |  | $ | — |  |  | $ | 23,540 |
Deposits with clearing organizations | — |  |  | — |  |  | 119,580 |  |  | — |  |  | 119,580 |
Receivable from brokers, dealers and clearing organizations |  |  |  | — |  |  | 198,417 |  |  |  |  |  | 198,417 |
Receivable from customers, net of allowance for credit losses of $528 | — |  |  | — |  |  | 964,772 |  |  | — |  |  | 964,772 |
Income tax receivable | 43,061 |  |  | 16,068 |  |  | (701 | ) |  | (52,145 | ) |  | 6,283 |
Securities owned, including amounts pledged of $150,547 at fair value | — |  |  | 1,339 |  |  | 308,007 |  |  | — |  |  | 309,346 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $31,188 and $3,908, respectively | — |  |  | — |  |  | 44,960 |  |  | — |  |  | 44,960 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $96,742 | — |  |  | 21,741 |  |  | 8,905 |  |  | — |  |  | 30,646 |
Right-of-use lease assets, net of accumulated amortization of $31,398 | — |  |  | 149,929 |  |  | 6,026 |  |  | 85 |  |  | 156,040 |
Subordinated loan receivable | 209 |  |  | 112,558 |  |  | — |  |  | (112,767 | ) |  | — |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | 144 |  |  | 1,368 |  |  | 114,547 |  |  | 1 |  |  | 116,060 |
Deferred tax assets | 238 |  |  | (9 | ) |  | (733 | ) |  | 504 |  |  | — |
Investment in subsidiaries | 737,510 |  |  | 598,905 |  |  | — |  |  | (1,336,415 | ) |  | — |
Intercompany receivables | (43,139 | ) |  | 73,322 |  |  | (3,850 | ) |  | (26,333 | ) |  | — |
Total assets | $ | 739,973 |  |  | $ | 975,688 |  |  | $ | 1,951,042 |  |  | $ | (1,527,070 | ) |  | $ | 2,139,633 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 19,066 |  |  | $ | — |  |  | $ | 19,066 |
Bank call loans | — |  |  | — |  |  | 203,100 |  |  | — |  |  | 203,100 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 239,583 |  |  | — |  |  | 239,583 |
Payable to customers | — |  |  | — |  |  | 413,646 |  |  | — |  |  | 413,646 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 124,103 |  |  | — |  |  | 124,103 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 34,639 |  |  | — |  |  | 34,639 |
Accrued compensation | — |  |  | — |  |  | 102,407 |  |  | — |  |  | 102,407 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 27,516 |  |  | (52,145 | ) |  | — |
Accounts payable and other liabilities | 2,661 |  |  | (10,294 | ) |  | 51,256 |  |  | 22 |  |  | 43,645 |
Lease liabilities | — |  |  | 191,294 |  |  | 6,434 |  |  | — |  |  | 197,728 |
Senior secured notes, net of debt issuance cost of $432 | 148,142 |  |  | — |  |  | — |  |  | — |  |  | 148,142 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558 | ) |  | — |
Deferred tax liabilities | — |  |  | (7,209 | ) |  | 33,546 |  |  | 507 |  |  | 26,844 |
Intercompany payables | — |  |  | 26,335 |  |  | — |  |  | (26,335 | ) |  | — |
Total liabilities | 153,243 |  |  | 222,315 |  |  | 1,367,854 |  |  | (190,509 | ) |  | 1,552,903 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Total stockholders' equity | 586,730 |  |  | 753,373 |  |  | 583,188 |  |  | (1,336,561 | ) |  | 586,730 |
Total liabilities and stockholders' equity | $ | 739,973 |  |  | $ | 975,688 |  |  | $ | 1,951,042 |  |  | $ | (1,527,070 | ) |  | $ | 2,139,633 |
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 |  |  |  |  |  |  |  |  |
Total 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 |
Condensed Consolidating Statement of Cash Flows | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by (used in) operating activities | $ | 13,900 |  |  | $ | (2,112 | ) |  | $ | (252,811 | ) |  | $ | — |  |  | $ | (241,023 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (1,326 | ) |  | — |  |  | (1,326 | )
Cash used in investing activities | — |  |  | — |  |  | (1,326 | ) |  | — |  |  | (1,326 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (1,561 | ) |  | — |  |  | — |  |  | — |  |  | (1,561 | )
Repurchase of Class A non-voting common stock for cancellation | (8,434 | ) |  | — |  |  | — |  |  | — |  |  | (8,434 | )
Repurchase of senior secured notes | (1,426 | ) |  | — |  |  | — |  |  | — |  |  | (1,426 | )
Payments for employee taxes withheld related to vested share-based awards | (5,340 | ) |  | — |  |  | — |  |  | — |  |  | (5,340 | )
Increase in bank call loans, net | — |  |  | — |  |  | 203,100 |  |  | — |  |  | 203,100 |
Cash provided by (used in) financing activities | (16,761 | ) |  | — |  |  | 203,100 |  |  | — |  |  | 186,339 |
Net decrease in cash and cash equivalents | (2,861 | ) |  | (2,112 | ) |  | (51,037 | ) |  | — |  |  | (56,010 | )
Cash and cash equivalents, beginning of the period | 4,811 |  |  | 2,179 |  |  | 72,560 |  |  | — |  |  | 79,550 |
Cash and cash equivalents, end of the period | $ | 1,950 |  |  | $ | 67 |  |  | $ | 21,523 |  |  | $ | — |  |  | $ | 23,540 |
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 | )
Issuance 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 |

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