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Supplemental Guarantor Consolidated Financial Statements (Tables) | 9 Months Ended
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Sep. 30, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Income Statement | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 92,241 |  |  | $ | — |  |  | $ | 92,241 |
Advisory fees | — |  |  | — |  |  | 88,963 |  |  | (368) |  |  | 88,595 |
Investment banking | — |  |  | — |  |  | 68,120 |  |  | (1,875) |  |  | 66,245 |
Bank deposit sweep income | — |  |  | — |  |  | 4,619 |  |  | — |  |  | 4,619 |
Interest | — |  |  | 2,058 |  |  | 7,594 |  |  | (2,112) |  |  | 7,540 |
Principal transactions, net | — |  |  | 8 |  |  | 7,695 |  |  | — |  |  | 7,703 |
Other | — |  |  | — |  |  | 9,315 |  |  | 1 |  |  | 9,316 |
Total revenue | — |  |  | 2,066 |  |  | 278,547 |  |  | (4,354) |  |  | 276,259 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 259 |  |  | — |  |  | 189,395 |  |  | — |  |  | 189,654 |
Communications and technology | 61 |  |  | — |  |  | 19,413 |  |  | — |  |  | 19,474 |
Occupancy and equipment costs | — |  |  | — |  |  | 15,199 |  |  | — |  |  | 15,199 |
Clearing and exchange fees | — |  |  | — |  |  | 6,211 |  |  | — |  |  | 6,211 |
Interest | 2,596 |  |  | — |  |  | 2,977 |  |  | (2,112) |  |  | 3,461 |
Other | 4,906 |  |  | 3 |  |  | 17,875 |  |  | (2,242) |  |  | 20,542 |
Total expenses | 7,822 |  |  | 3 |  |  | 251,070 |  |  | (4,354) |  |  | 254,541 |
Pre-tax income (loss) | (7,822) |  |  | 2,063 |  |  | 27,477 |  |  | — |  |  | 21,718 |
Income taxes | (2,010) |  |  | 528 |  |  | 7,561 |  |  | — |  |  | 6,079 |
Net income (loss) | (5,812) |  |  | 1,535 |  |  | 19,916 |  |  | — |  |  | 15,639 |
Equity in earnings of subsidiaries | 21,451 |  |  | 19,916 |  |  | — |  |  | (41,367) |  |  | — |
Net income | 15,639 |  |  | 21,451 |  |  | 19,916 |  |  | (41,367) |  |  | 15,639 |
Other comprehensive income | — |  |  | — |  |  | 244 |  |  | — |  |  | 244 |
Total comprehensive income | $ | 15,639 |  |  | $ | 21,451 |  |  | $ | 20,160 |  |  | $ | (41,367) |  |  | $ | 15,883 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 78,627 |  |  | $ | — |  |  | $ | 78,627 |
Advisory fees | — |  |  | — |  |  | 81,229 |  |  | (342) |  |  | 80,887 |
Investment banking | — |  |  | — |  |  | 21,798 |  |  | — |  |  | 21,798 |
Bank deposit sweep income | — |  |  | — |  |  | 28,894 |  |  | — |  |  | 28,894 |
Interest | 59 |  |  | 2,059 |  |  | 12,299 |  |  | (2,073) |  |  | 12,344 |
Principal transactions, net | — |  |  | (34) |  |  | 7,586 |  |  | 54 |  |  | 7,606 |
Other | 3 |  |  | — |  |  | 4,635 |  |  | (1) |  |  | 4,637 |
Total revenue | 62 |  |  | 2,025 |  |  | 235,068 |  |  | (2,362) |  |  | 234,793 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 273 |  |  | — |  |  | 151,012 |  |  | (1) |  |  | 151,284 |
Communications and technology | 39 |  |  | — |  |  | 20,833 |  |  | — |  |  | 20,872 |
Occupancy and equipment costs | — |  |  | — |  |  | 16,010 |  |  | — |  |  | 16,010 |
Clearing and exchange fees | — |  |  | (54) |  |  | 5,469 |  |  | 54 |  |  | 5,469 |
Interest | 3,038 |  |  | — |  |  | 10,566 |  |  | (2,073) |  |  | 11,531 |
Other | 2,087 |  |  | 4 |  |  | 21,382 |  |  | (342) |  |  | 23,131 |
Total expenses | 5,437 |  |  | (50) |  |  | 225,272 |  |  | (2,362) |  |  | 228,297 |
Pre-tax income (loss) | (5,375) |  |  | 2,075 |  |  | 9,796 |  |  | — |  |  | 6,496 |
Income taxes | (1,364) |  |  | 558 |  |  | 3,353 |  |  | — |  |  | 2,547 |
Net income (loss) | (4,011) |  |  | 1,517 |  |  | 6,443 |  |  | — |  |  | 3,949 |
Equity in earnings of subsidiaries | 7,960 |  |  | 6,443 |  |  | — |  |  | (14,403) |  |  | — |
Net income | 3,949 |  |  | 7,960 |  |  | 6,443 |  |  | (14,403) |  |  | 3,949 |
Other comprehensive income | — |  |  | — |  |  | 533 |  |  | — |  |  | 533 |
Total comprehensive income | $ | 3,949 |  |  | $ | 7,960 |  |  | $ | 6,976 |  |  | $ | (14,403) |  |  | $ | 4,482 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 297,126 |  |  | $ | — |  |  | $ | 297,126 |
Advisory fees | — |  |  | — |  |  | 251,811 |  |  | (1,071) |  |  | 250,740 |
Investment banking | — |  |  | — |  |  | 140,034 |  |  | (1,875) |  |  | 138,159 |
Bank deposit sweep income | — |  |  | — |  |  | 30,567 |  |  | — |  |  | 30,567 |
Interest | 2 |  |  | 6,174 |  |  | 24,732 |  |  | (6,258) |  |  | 24,650 |
Principal transactions, net | — |  |  | 57 |  |  | 18,842 |  |  | — |  |  | 18,899 |
Other | 95 |  |  | — |  |  | 15,526 |  |  | (3) |  |  | 15,618 |
Total revenue | 97 |  |  | 6,231 |  |  | 778,638 |  |  | (9,207) |  |  | 775,759 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 879 |  |  | — |  |  | 526,045 |  |  | — |  |  | 526,924 |
Communications and technology | 144 |  |  | — |  |  | 60,545 |  |  | — |  |  | 60,689 |
Occupancy and equipment costs | — |  |  | — |  |  | 46,611 |  |  | — |  |  | 46,611 |
Clearing and exchange fees | — |  |  | — |  |  | 18,061 |  |  | — |  |  | 18,061 |
Interest | 7,632 |  |  | — |  |  | 11,527 |  |  | (6,258) |  |  | 12,901 |
Other | 5,358 |  |  | 8 |  |  | 52,951 |  |  | (2,949) |  |  | 55,368 |
Total expenses | 14,013 |  |  | 8 |  |  | 715,740 |  |  | (9,207) |  |  | 720,554 |
Pre-tax income (loss) | (13,916) |  |  | 6,223 |  |  | 62,898 |  |  | — |  |  | 55,205 |
Income taxes | (3,576) |  |  | 1,623 |  |  | 16,052 |  |  | — |  |  | 14,099 |
Net income (loss) | (10,340) |  |  | 4,600 |  |  | 46,846 |  |  | — |  |  | 41,106 |
Equity in earnings of subsidiaries | 51,446 |  |  | 46,846 |  |  | — |  |  | (98,292) |  |  | — |
Net income | 41,106 |  |  | 51,446 |  |  | 46,846 |  |  | (98,292) |  |  | 41,106 |
Other comprehensive income | — |  |  | — |  |  | 187 |  |  | — |  |  | 187 |
Total comprehensive income | $ | 41,106 |  |  | $ | 51,446 |  |  | $ | 47,033 |  |  | $ | (98,292) |  |  | $ | 41,293 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING INCOME STATEMENT FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
REVENUES |  |  |  |  |  |  |  |  |
Commissions | $ | — |  |  | $ | — |  |  | $ | 238,932 |  |  | $ | — |  |  | $ | 238,932 |
Advisory fees | — |  |  | — |  |  | 236,278 |  |  | (1,037) |  |  | 235,241 |
Investment banking | — |  |  | — |  |  | 81,847 |  |  | — |  |  | 81,847 |
Bank deposit sweep income | — |  |  | — |  |  | 94,692 |  |  | — |  |  | 94,692 |
Interest | 234 |  |  | 6,181 |  |  | 38,426 |  |  | (6,220) |  |  | 38,621 |
Principal transactions, net | — |  |  | 121 |  |  | 21,980 |  |  | (12) |  |  | 22,089 |
Other | 3 |  |  | 2 |  |  | 26,070 |  |  | 1 |  |  | 26,076 |
Total revenue | 237 |  |  | 6,304 |  |  | 738,225 |  |  | (7,268) |  |  | 737,498 |
EXPENSES |  |  |  |  |  |  |  |  |
Compensation and related expenses | 1,098 |  |  | — |  |  | 466,330 |  |  | (6) |  |  | 467,422 |
Communications and technology | 130 |  |  | — |  |  | 61,327 |  |  | — |  |  | 61,457 |
Occupancy and equipment costs | — |  |  | (1) |  |  | 46,855 |  |  | 2 |  |  | 46,856 |
Clearing and exchange fees | — |  |  | — |  |  | 16,479 |  |  | — |  |  | 16,479 |
Interest | 9,788 |  |  | — |  |  | 34,141 |  |  | (6,220) |  |  | 37,709 |
Other | 2,637 |  |  | 248 |  |  | 65,795 |  |  | (1,044) |  |  | 67,636 |
Total expenses | 13,653 |  |  | 247 |  |  | 690,927 |  |  | (7,268) |  |  | 697,559 |
Pre-tax income (loss) | (13,416) |  |  | 6,057 |  |  | 47,298 |  |  | — |  |  | 39,939 |
Income taxes | (3,702) |  |  | 1,994 |  |  | 14,129 |  |  | — |  |  | 12,421 |
Net income (loss) | (9,714) |  |  | 4,063 |  |  | 33,169 |  |  | — |  |  | 27,518 |
Equity in earnings of subsidiaries | 37,232 |  |  | 33,169 |  |  | — |  |  | (70,401) |  |  | — |
Net income | 27,518 |  |  | 37,232 |  |  | 33,169 |  |  | (70,401) |  |  | 27,518 |
Other comprehensive income | — |  |  | — |  |  | 1,457 |  |  | — |  |  | 1,457 |
Total comprehensive income | $ | 27,518 |  |  | $ | 37,232 |  |  | $ | 34,626 |  |  | $ | (70,401) |  |  | $ | 28,975 |
Condensed Consolidating Balance Sheet | OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 3,864 |  |  | $ | 188 |  |  | $ | 28,028 |  |  | $ | — |  |  | $ | 32,080 |
Deposits with clearing organizations | — |  |  | — |  |  | 77,202 |  |  | — |  |  | 77,202 |
Receivable from brokers, dealers and clearing organizations | — |  |  | — |  |  | 207,256 |  |  | — |  |  | 207,256 |
Receivable from customers, net of allowance for credit losses of $418 | — |  |  | — |  |  | 1,095,035 |  |  | — |  |  | 1,095,035 |
Income tax receivable | 46,136 |  |  | 14,923 |  |  | (702) |  |  | (57,365) |  |  | 2,992 |
Securities owned, including amounts pledged of $486,165 at fair value | — |  |  | 1,438 |  |  | 645,241 |  |  | 1 |  |  | 646,680 |
Notes receivable, net of accumulated amortization and allowance for uncollectibles of $37,224 and $4,190, respectively | — |  |  | — |  |  | 44,723 |  |  | — |  |  | 44,723 |
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $100,968 | — |  |  | 20,989 |  |  | 7,927 |  |  | — |  |  | 28,916 |
Right-of-use lease assets, net of accumulated amortization of $43,933 | — |  |  | 150,115 |  |  | 4,551 |  |  | — |  |  | 154,666 |
Subordinated loan receivable | 209 |  |  | 112,558 |  |  | — |  |  | (112,767) |  |  | — |
Intangible assets | — |  |  | 400 |  |  | 31,700 |  |  | — |  |  | 32,100 |
Goodwill | — |  |  | — |  |  | 137,889 |  |  | — |  |  | 137,889 |
Other assets | (786) |  |  | 1,367 |  |  | 148,501 |  |  | (3) |  |  | 149,079 |
Deferred tax assets | — |  |  | (28) |  |  | (2,668) |  |  | 2,696 |  |  | — |
Investment in subsidiaries | 779,573 |  |  | 593,310 |  |  | (1) |  |  | (1,372,882) |  |  | — |
Intercompany receivables | (87,257) |  |  | 121,365 |  |  | (7,777) |  |  | (26,331) |  |  | — |
Total assets | $ | 741,739 |  |  | $ | 1,016,625 |  |  | $ | 2,416,905 |  |  | $ | (1,566,651) |  |  | $ | 2,608,618 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Drafts payable | $ | — |  |  | $ | — |  |  | $ | 18,251 |  |  | $ | — |  |  | $ | 18,251 |
Bank call loans | — |  |  | — |  |  | 156,900 |  |  | — |  |  | 156,900 |
Payable to brokers, dealers and clearing organizations | — |  |  | — |  |  | 366,949 |  |  | — |  |  | 366,949 |
Payable to customers | — |  |  | — |  |  | 380,746 |  |  | — |  |  | 380,746 |
Securities sold under agreements to repurchase | — |  |  | — |  |  | 252,827 |  |  | — |  |  | 252,827 |
Securities sold but not yet purchased, at fair value | — |  |  | — |  |  | 222,449 |  |  | — |  |  | 222,449 |
Accrued compensation | — |  |  | — |  |  | 201,616 |  |  | — |  |  | 201,616 |
Income tax payable | 2,440 |  |  | 22,189 |  |  | 34,769 |  |  | (59,398) |  |  | — |
Accounts payable and other liabilities | 219 |  |  | (10,320) |  |  | 53,553 |  |  | 21 |  |  | 43,473 |
Lease liabilities | — |  |  | 190,603 |  |  | 4,745 |  |  | — |  |  | 195,348 |
Senior secured notes, net of debt issuance cost of $1,136 | 123,864 |  |  | — |  |  | — |  |  | — |  |  | 123,864 |
Subordinated indebtedness | — |  |  | — |  |  | 112,558 |  |  | (112,558) |  |  | — |
Deferred tax liabilities | — |  |  | (7,298) |  |  | 33,546 |  |  | 4,731 |  |  | 30,979 |
Intercompany payables | — |  |  | 26,335 |  |  | — |  |  | (26,335) |  |  | — |
Total liabilities | 126,523 |  |  | 221,509 |  |  | 1,838,909 |  |  | (193,539) |  |  | 1,993,402 |
Stockholders' equity |  |  |  |  |  |  |  |  |
Total stockholders' equity | 615,216 |  |  | 795,116 |  |  | 577,996 |  |  | (1,373,112) |  |  | 615,216 |
Total liabilities and stockholders' equity | $ | 741,739 |  |  | $ | 1,016,625 |  |  | $ | 2,416,905 |  |  | $ | (1,566,651) |  |  | $ | 2,608,618 |
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 NINE MONTHS ENDED SEPTEMBER 30, 2020
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by/(used in) operating activities | $ | 51,332 |  |  | $ | (1,991) |  |  | $ | (197,724) |  |  | $ | — |  |  | $ | (148,383) |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (3,708) |  |  | — |  |  | (3,708) |
Cash used in investing activities | — |  |  | — |  |  | (3,708) |  |  | — |  |  | (3,708) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (4,597) |  |  | — |  |  | — |  |  | — |  |  | (4,597) |
Issuance of Class A non-voting common stock | 34 |  |  | — |  |  | — |  |  | — |  |  | 34 |
Repurchase of Class A non-voting common stock for cancellation | (14,228) |  |  | — |  |  | — |  |  | — |  |  | (14,228) |
Payments for employee taxes withheld related to vested share-based awards | (5,771) |  |  | — |  |  | — |  |  | — |  |  | (5,771) |
Issuance of senior secured notes | 125,000 |  |  | — |  |  | — |  |  | — |  |  | 125,000 |
Redemption of senior secured notes | (148,574) |  |  | — |  |  | — |  |  | — |  |  | (148,574) |
Repurchase of senior secured notes | (1,426) |  |  | — |  |  | — |  |  | — |  |  | (1,426) |
Debt issuance costs | (210) |  |  | — |  |  | — |  |  | — |  |  | (210) |
Debt redemption costs | (2,507) |  |  | — |  |  | — |  |  | — |  |  | (2,507) |
Increase in bank call loans, net | — |  |  | — |  |  | 156,900 |  |  | — |  |  | 156,900 |
Cash provided by (used in) financing activities | (52,279) |  |  | — |  |  | 156,900 |  |  | — |  |  | 104,621 |
Net decrease in cash and cash equivalents | (947) |  |  | (1,991) |  |  | (44,532) |  |  | — |  |  | (47,470) |
Cash and cash equivalents, beginning of the period | 4,811 |  |  | 2,179 |  |  | 72,560 |  |  | — |  |  | 79,550 |
Cash and cash equivalents, end of the period | $ | 3,864 |  |  | $ | 188 |  |  | $ | 28,028 |  |  | $ | — |  |  | $ | 32,080 |
OPPENHEIMER HOLDINGS INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019
(Expressed in thousands) | Parent |  | Guarantor subsidiaries |  | Non-guarantor subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Cash provided by/(used in) operating activities | $ | 16,687 |  |  | $ | (3,292) |  |  | $ | 9,502 |  |  | $ | — |  |  | $ | 22,897 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of furniture, equipment and leasehold improvements | — |  |  | — |  |  | (8,672) |  |  | — |  |  | (8,672) |
Cash used in investing activities | — |  |  | — |  |  | (6,952) |  |  | — |  |  | (6,952) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid on Class A non-voting and Class B voting common stock | (4,408) |  |  | — |  |  | — |  |  | — |  |  | (4,408) |
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 for 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 | (65,427) |  |  | — |  |  | (15,000) |  |  | — |  |  | (80,427) |
Net decrease in cash and cash equivalents | (48,740) |  |  | (3,292) |  |  | (12,450) |  |  | — |  |  | (64,482) |
Cash and cash equivalents, beginning of the period | 53,525 |  |  | 3,826 |  |  | 33,324 |  |  | — |  |  | 90,675 |
Cash and cash equivalents, end of the period | $ | 4,785 |  |  | $ | 534 |  |  | $ | 20,874 |  |  | $ | — |  |  | $ | 26,193 |

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