XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Variable Interest Entities | 9 Months Ended
--- | ---
Sep. 30, 2021
Variable Interest Entities [Abstract] |
Variable Interest Entities | NOTE 12. VARIABLE INTEREST ENTITIES The Company formed certain special purpose entities (each, an “SPE”) to purchase and sell residential properties. Each SPE is a wholly owned subsidiary of the Company and a separate legal entity, and neither the assets nor credit of any such SPE are available to satisfy the debts and other obligations of any affiliate or other entity. The credit facilities are secured by the assets and equity of one or more SPEs. These SPEs are variable interest entities, and the Company is the primary beneficiary as it has the power to control the activities that most significantly impact the SPEs’ economic performance and the obligation to absorb losses of the SPEs or the right to receive benefits from the SPEs that could potentially be significant to the SPEs. The SPEs are consolidated within the Company’s condensed consolidated financial statements. The following summarizes the assets and liabilities related to the VIEs as of the respective period ends (in thousands):
|  | September 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Assets |  |  |  |  |  |
Restricted cash |  | $ | 20,024 |  |  | $ | 6,804 |
Accounts receivable |  |  | 8,345 |  |  |  | 1,638 |
Inventory |  |  | 900,283 |  |  |  | 171,212 |
Prepaid expenses and other current assets |  |  | 2,879 |  |  |  | 1,036 |
Property and equipment, net |  |  | 4,377 |  |  |  | 2,772 |
Total assets |  | $ | 935,908 |  |  | $ | 183,462 |
Liabilities |  |  |  |  |  |
Accounts payable |  | $ | 4,561 |  |  | $ | 716 |
Accrued liabilities |  |  | 2,442 |  |  |  | 575 |
Secured credit facilities and notes payable, net - current portion |  |  | 751,041 |  |  |  | 173,539 |
Secured credit facilities and notes payable - net of current portion |  |  | — |  |  |  | 653 |
Total liabilities |  | $ | 758,044 |  |  | $ | 175,483 |

X
- Definition Variable interest entities. + References No definition available. + Details
Name: | opad_VariableInterestEntitiesAbstract
Namespace Prefix: | opad_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
Name: | us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration