Supplemental Guarantor Consolidated Financial Statements (Tables)

3 Months Ended

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