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, 2024
Dec. 31, 2023
Current assets:    
Cash, cash equivalents, and restricted cash $ 172,717 $ 170,753
Commissions receivable 19,195 16,171
Prepaid expenses 7,698 8,813
Income tax receivable 9,743 9,299
Marketable debt securities, available-for-sale (amortized cost of $126,130 and $169,018 at September 30, 2024 and December 31, 2023, respectively, and $0 allowance for credit losses) 126,083 168,881
Advances and loans, net 10,142 3,574
Other assets, current 10,967 16,203
Total current assets 356,545 393,694
Property and equipment, net 26,752 27,450
Operating lease right-of-use assets, net 84,621 90,058
Marketable debt securities, available-for-sale (amortized cost of $50,725 and $69,538 at September 30, 2024 and December 31, 2023, respectively, and $0 allowance for credit losses) 50,208 67,459
Assets held in rabbi trust 12,181 10,838
Deferred tax assets, net 50,127 46,930
Goodwill and other intangible assets, net 46,822 51,183
Advances and loans, net 180,885 175,827
Other assets, non-current 25,573 14,972
Total assets 833,714 878,411
Current liabilities:    
Accounts payable and accrued expenses 12,618 8,126
Deferred compensation and commissions 48,419 55,769
Operating lease liabilities 18,152 18,336
Accrued bonuses and other employee related expenses 16,988 19,119
Other liabilities, current 17,046 3,919
Total current liabilities 113,223 105,269
Deferred compensation and commissions 28,581 47,771
Operating lease liabilities 66,686 69,407
Other liabilities, non-current 7,496 10,690
Total liabilities 215,986 233,137
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 166,999 153,740
Retained earnings 450,590 492,298
Accumulated other comprehensive income (loss) 135 (768)
Total stockholders’ equity 617,728 645,274
Total liabilities and stockholders’ equity $ 833,714 $ 878,411