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, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents, and restricted cash $ 161,993 $ 170,753
Commissions receivable 15,731 16,171
Prepaid expenses 7,843 8,813
Income tax receivable 9,724 9,299
Marketable debt securities, available-for-sale (amortized cost of $120,308 and $169,018 at June 30, 2024 and December 31, 2023, respectively, and $0 allowance for credit losses) 119,807 168,881
Advances and loans, net 11,125 3,574
Other assets, current 17,795 16,203
Total current assets 344,018 393,694
Property and equipment, net 27,366 27,450
Operating lease right-of-use assets, net 89,256 90,058
Marketable debt securities, available-for-sale (amortized cost of $55,493 and $69,538 at June 30, 2024 and December 31, 2023, respectively, and $0 allowance for credit losses) 53,700 67,459
Assets held in rabbi trust 11,686 10,838
Deferred tax assets, net 49,595 46,930
Goodwill and other intangible assets, net 48,970 51,183
Advances and loans, net 185,612 175,827
Other assets, non-current 15,226 14,972
Total assets 825,429 878,411
Current liabilities:    
Accounts payable and accrued expenses 10,036 8,126
Deferred compensation and commissions 46,644 55,769
Operating lease liabilities 17,858 18,336
Accrued bonuses and other employee related expenses 10,760 19,119
Other liabilities, current 7,791 3,919
Total current liabilities 93,089 105,269
Deferred compensation and commissions 28,188 47,771
Operating lease liabilities 70,590 69,407
Other liabilities, non-current 6,892 10,690
Total liabilities 198,759 233,137
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 161,895 153,740
Retained earnings 466,132 492,298
Accumulated other comprehensive loss (1,361) (768)
Total stockholders’ equity 626,670 645,274
Total liabilities and stockholders’ equity $ 825,429 $ 878,411