Selected Balance Sheet Data (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Schedule of Other Assets |
Other assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Current
December 31, |
|
|
Non-Current
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
Due from independent contractors, net (1) (2)
|
|
$ |
3,672 |
|
|
$ |
2,231 |
|
|
$ |
21,726 |
|
|
$ |
8,702 |
|
|
Security deposits
|
|
|
— |
|
|
|
— |
|
|
|
1,158 |
|
|
|
1,059 |
|
|
Employee notes receivable (3)
|
|
|
366 |
|
|
|
314 |
|
|
|
255 |
|
|
|
132 |
|
|
Customer trust accounts and other
|
|
|
1,491 |
|
|
|
2,557 |
|
|
|
24 |
|
|
|
88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,529 |
|
|
$ |
5,102 |
|
|
$ |
23,163 |
|
|
$ |
9,981 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Represents amounts advanced, notes
receivable and other receivables due from the Company’s
investment sales and financing professionals. The notes receivable
along with interest, are typically collected from future
commissions and are generally due in one to five years. As of
December 31, 2017 and 2016, the weighted average interest rate
for notes receivable due from the Company’s investment sales
and financing professionals was approximately 3.5% and 3.3%,
respectively. Any cash receipts on notes are applied first to
unpaid principal balance prior to any income being recognized. |
| (2) |
Includes allowance for doubtful
accounts related to current receivables of $494 and $313 as of
December 31, 2017 and 2016, respectively. The Company recorded
a provision for bad debt expense of $219, $47 and $281 and wrote
off $38, $93 and $115 of these receivables for the years ended
December 31, 2017, 2016 and 2015, respectively. |
| (3) |
See Note 7 –
“Related-Party Transactions” for additional
information. |
|
| Components of Deferred Compensation and Commissions |
Deferred compensation and commissions consisted of the following
(in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Current
December 31, |
|
|
Non-Current
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
SARs liability (1)
|
|
$ |
1,662 |
|
|
$ |
1,366 |
|
|
$ |
20,217 |
|
|
$ |
20,949 |
|
|
Commissions payable to investment sales and financing
professionals
|
|
|
46,257 |
|
|
|
42,781 |
|
|
|
21,924 |
|
|
|
17,101 |
|
|
Deferred compensation liability (1)
|
|
|
1,261 |
|
|
|
607 |
|
|
|
7,220 |
|
|
|
6,405 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
49,180 |
|
|
$ |
44,754 |
|
|
$ |
49,361 |
|
|
$ |
44,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
The SARs and deferred compensation
liability become subject to payout as a result of a participant no
longer being considered as an employee or service provider. As a
result of the retirement of certain participants, estimated amounts
to be paid to the participants within the next twelve months has
been classified as current. |
|
| Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability |
The net change in the carrying value of the assets held in the
rabbi trust and the net change in the carrying value of the
deferred compensation liability, each exclusive of additional
contributions, distributions and trust expenses consisted of the
following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
Increase (decrease) in the carrying value of the assets held in the
rabbi trust (1)
|
|
$ |
849 |
|
|
$ |
470 |
|
|
$ |
(57 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in the carrying value of the deferred
compensation obligation (2)
|
|
$ |
904 |
|
|
$ |
452 |
|
|
$ |
(67 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Recorded in other income (expense),
net in the consolidated statements of net and comprehensive
income. |
|
(2) |
Recorded in selling, general and
administrative expense in the consolidated statements of net and
comprehensive income. |
|