OPPENHEIMER HOLDINGS INCOPY

OPPENHEIMER HOLDINGS INC Goodwill & Intangibles Disclosure

10-KFiled Feb 26, 20261 min read
Goodwill and intangibles
Goodwill

The Company's goodwill of $143.6 million resides in reporting units with its Wealth Management ($137.9 million) and Corporate/Other ($5.7 million) reportable segments. The Company performed its annual test for goodwill impairment for both reporting units as of December 31, 2025, which did not result in any impairment charges. Both reporting units had fair values that were substantially in excess of their respective carrying values. Goodwill within the Corporate/Other reporting unit relates to the Company’s acquisition of BondWave LLC and Bitvore.
Intangible assets are primarily comprised of trademarks, trade names and an Internet domain name, carried on the balance sheet at $35 million. Indefinite intangible assets are subject to at least an annual test for impairment to determine if the estimated fair value is less than their carrying amount. Trademarks and trade names recorded as of December 31, 2025 and 2024 have been tested for impairment and it has been determined that no impairment has occurred. At each annual intangible assets impairment testing date, the trademarks and trade names had a fair value that was substantially in excess of their carrying value.
Defined-lived intangible assets are comprised of software licenses, developed technology and customer relationships. These intangible assets carried at $2.9 million are amortized over their estimated lives and are periodically evaluated for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable from future undiscounted cash flows.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Mar 1, 2024
2022Feb 28, 2023
2021Feb 28, 2022
2020Mar 1, 2021
2019Mar 2, 2020
2018Mar 1, 2019
2017Mar 2, 2018
2016Mar 3, 2017
2015Mar 4, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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