Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents, and restricted cash $ 171,220 $ 235,873
Commissions receivable 9,954 8,453
Prepaid expenses 8,872 9,411
Income tax receivable 17,491 8,682
Marketable debt securities, available-for-sale (amortized cost of $165,471 and $254,682 at June 30, 2023 and December 31, 2022, respectively, and $0 allowance for credit losses) 164,856 253,434
Advances and loans, net 3,497 4,005
Other assets, current 5,850 7,282
Total current assets 381,740 527,140
Property and equipment, net 28,462 27,644
Operating lease right-of-use assets, net 102,741 87,945
Marketable debt securities, available-for-sale (amortized cost of $74,758 and $72,819 at June 30, 2023 and December 31, 2022, respectively, and $0 allowance for credit losses) 70,711 68,595
Assets held in rabbi trust 10,365 9,553
Deferred tax assets, net 35,933 41,321
Goodwill and other intangible assets, net 53,525 55,696
Advances and loans, net 181,944 169,955
Other assets, non-current 18,092 15,859
Total assets 883,513 1,003,708
Current liabilities:    
Accounts payable and accrued expenses 11,893 11,450
Deferred compensation and commissions 43,351 75,321
Operating lease liabilities 17,838 16,984
Accrued bonuses and other employee related expenses 11,088 38,327
Other liabilities, current 4,899 9,933
Total current liabilities 89,069 152,015
Deferred compensation and commissions 41,299 64,461
Operating lease liabilities 78,707 65,109
Other liabilities, non-current 10,519 8,614
Total liabilities 219,594 290,199
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 140,142 131,541
Retained earnings 526,373 585,581
Accumulated other comprehensive loss (2,600) (3,617)
Total stockholders’ equity 663,919 713,509
Total liabilities and stockholders’ equity $ 883,513 $ 1,003,708