Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 243,152 $ 232,670
Commissions receivable, net 10,391 5,003
Prepaid expenses 10,153 10,676
Income tax receivable 0 4,999
Marketable debt securities, available-for-sale (includes amortized cost of $158,148 and $150,517 at December 31, 2020 and 2019, respectively, and $0 allowance for credit losses) 158,258 150,752
Advances and loans, net 2,413 2,882
Other assets 4,711 3,185
Total current assets 429,078 410,167
Property and equipment, net 23,436 22,643
Operating lease right-of-use assets, net 84,024 90,535
Marketable debt securities, available-for-sale (includes amortized cost of $45,181 and $59,468 at December 31, 2020 and 2019, respectively, and $0 allowance for credit losses) 47,773 60,809
Assets held in rabbi trust 10,295 9,452
Deferred tax assets, net 21,374 22,122
Goodwill and other intangible assets, net 52,053 22,312
Advances and loans, net 106,913 66,647
Other assets 4,176 4,347
Total assets 779,122 709,034
Current liabilities:    
Accounts payable and other liabilities 18,288 10,790
Notes payable to former stockholders 0 6,564
Deferred compensation and commissions 58,106 44,301
Income tax payable 3,726 0
Operating lease liabilities 19,190 17,762
Accrued bonuses and other employee related expenses 21,007 22,388
Total current liabilities 120,317 101,805
Deferred compensation and commissions 38,745 45,628
Operating lease liabilities 59,408 63,155
Other liabilities 13,816 3,539
Total liabilities 232,286 214,127
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, 2020 and 2019, respectively 0 0
Common stock, $0.0001 par value: Authorized shares – 150,000,000; issued and outstanding shares – 39,401,976 and 39,153,195 at December 31, 2020 and 2019, respectively 4 4
Additional paid-in capital 113,182 104,658
Stock notes receivable from employees 0 (4)
Retained earnings 431,076 388,271
Accumulated other comprehensive income 2,574 1,978
Total stockholders' equity 546,836 494,907
Total liabilities and stockholders' equity $ 779,122 $ 709,034