Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 232,670 $ 214,683
Commissions receivable 5,003 4,948
Prepaid expenses 10,676 7,904
Income tax receivable 4,999 0
Marketable securities, available-for-sale 150,752 137,436
Other assets, net 6,067 6,368
Total current assets 410,167 371,339
Prepaid rent 0 13,892
Property and equipment, net 22,643 19,550
Operating lease right-of-use assets, net 90,535 0
Marketable securities, available-for-sale 60,809 83,209
Assets held in rabbi trust 9,452 8,268
Deferred tax assets, net 22,122 22,959
Goodwill and other intangible assets, net 22,312 15,385
Other assets 70,994 31,778
Total assets 709,034 566,380
Current liabilities:    
Accounts payable and other liabilities 10,790 11,035
Notes payable to former stockholders 6,564 1,087
Deferred compensation and commissions 44,301 47,910
Income tax payable 0 4,486
Operating lease liabilities 17,762 0
Accrued bonuses and other employee related expenses 22,388 28,338
Total current liabilities 101,805 92,856
Deferred compensation and commissions 45,628 49,887
Notes payable to former stockholders 0 6,564
Operating lease liabilities 63,155 0
Deferred rent and other liabilities 3,539 7,499
Total liabilities 214,127 156,806
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock, $0.0001 par value: Authorized shares – 25,000,000; issued and outstanding shares – none at December 31, 2019 and 2018, respectively 0 0
Common stock, $0.0001 par value: Authorized shares – 150,000,000; issued and outstanding shares – 39,153,195 and 38,814,464 at December 31, 2019 and 2018, respectively 4 4
Additional paid-in capital 104,658 97,458
Stock notes receivable from employees (4) (4)
Retained earnings 388,271 311,341
Accumulated other comprehensive income 1,978 775
Total stockholders' equity 494,907 409,574
Total liabilities and stockholders' equity $ 709,034 $ 566,380