Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 100,952 $ 3,107
Commissions receivable, net of allowance for doubtful accounts of $99 and $129 at December 31, 2013 and 2012, respectively 4,115 5,764
Employee notes receivable 229 807
Prepaid expenses and other current assets 5,204 2,903
Deferred tax assets, net 8,663  
Total current assets 119,163 12,581
Prepaid rent 4,999 2,855
Investments held in rabbi trust account 4,067 2,905
Property and equipment, net of accumulated depreciation of $19,412 and $17,917 at December 31, 2013 and 2012, respectively 8,560 6,688
Due from affiliates   60,389
Employee notes receivable 189 350
Deferred tax assets, net 27,185  
Other assets 3,146 3,965
Total assets 167,309 89,733
Current liabilities:    
Accounts payable and accrued expenses 6,911 14,350
Accounts payable and accrued expenses - related party 506  
Income tax payable 6,459  
Notes payable to former stockholders 851  
Commissions payable 25,086 22,584
Accrued employee expenses 16,947 17,519
Total current liabilities 56,760 54,453
Deferred compensation and commissions 32,177 9,121
Notes payable to former stockholders 11,504  
Other liabilities 4,371 4,529
Total liabilities 104,812 68,103
Stockholders' equity:    
Preferred stock, value     
Common stock, value 4  
Additional paid-in capital 70,445 24,718
Stock notes receivable from employees (13) (150)
Accumulated deficit (7,939) (3,182)
Total stockholders' equity 62,497 21,630
Total liabilities and stockholders' equity 167,309 89,733
Series A redeemable preferred stock [Member]
    
Stockholders' equity:    
Preferred stock, value   10
Common Stock, $1.00 par value [Member]
    
Stockholders' equity:    
Common stock, value   $ 234