Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 173,112 $ 232,670
Commissions receivable, net 6,846 5,003
Prepaid expenses 8,694 10,676
Income tax receivable 10,023 4,999
Marketable debt securities, available-for-sale (includes amortized cost of $169,239 and $150,517 at September 30, 2020 and December 31, 2019, respectively, and $0 allowance for credit losses) 169,513 150,752
Advances and loans, net 2,090 2,882
Other assets 3,013 3,185
Total current assets 373,291 410,167
Property and equipment, net 23,371 22,643
Operating lease right-of-use assets, net 82,202 90,535
Marketable debt securities, available-for-sale (includes amortized cost of $44,246 and $59,468 at September 30, 2020 and December 31, 2019, respectively, and $0 allowance for credit losses) 46,505 60,809
Assets held in rabbi trust 9,467 9,452
Deferred tax assets, net 15,839 22,122
Goodwill and other intangible assets, net 36,883 22,312
Advances and loans, net 104,248 66,647
Other assets 4,319 4,347
Total assets 696,125 709,034
Current liabilities:    
Accounts payable and other liabilities 10,601 10,790
Notes payable to former stockholders 0 6,564
Deferred compensation and commissions 37,244 44,301
Operating lease liabilities 17,954 17,762
Accrued bonuses and other employee related expenses 10,238 22,388
Total current liabilities 76,037 101,805
Deferred compensation and commissions 33,921 45,628
Operating lease liabilities 57,002 63,155
Other liabilities 8,131 3,539
Total liabilities 175,091 214,127
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock, $0.0001 par value Authorized shares – 25,000,000; issued and outstanding shares – none at September 30, 2020 and December 31, 2019, respectively 0 0
Common stock, $0.0001 par value Authorized shares – 150,000,000; issued and outstanding shares – 39,376,477 and 39,153,195 at September 30, 2020 and December 31, 2019, respectively 4 4
Additional paid-in capital 110,625 104,658
Stock notes receivable from employees 0 (4)
Retained earnings 407,454 388,271
Accumulated other comprehensive income 2,951 1,978
Total stockholders' equity 521,034 494,907
Total liabilities and stockholders' equity $ 696,125 $ 709,034