Annual report pursuant to Section 13 and 15(d)

Selected Balance Sheet Data (Tables)

v3.22.4
Selected Balance Sheet Data (Tables)
 12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Allowance for Credit Losses for Advances and Loans and Commissions Receivable
Allowance for credit losses for advances and loans consisted of the following (in thousands):
Advances and
Loans 		Commissions
Receivable
Total
Beginning balance as of January 1, 2022 $ 789  $ 5  $ 794 
Credit loss expense (recovery) (48) (4) (52)
Write-off 50  —  50 
Ending balance as of December 31, 2022 $ 791  $ 1  $ 792 
Advances and
Loans
Commissions
Receivable
Total
Beginning balance as of January 1, 2021 $ 563  $ 94  $ 657 
Credit loss expense (recovery) 255  (89) 166 
Write-off (recovery) (29) —  (29)
Ending balance as of December 31, 2021 $ 789  $ 5  $ 794 
Schedule of Other Assets
Other assets consisted of the following (in thousands):
Current
December 31,		 Non-Current
December 31,
2022 2021 2022 2021
MSRs, net of amortization $ —  $ —  $ —  $ 1,855 
Security deposits —  —  1,625  1,395 
Employee notes receivable 6  40  —  — 
Securities, held-to-maturity(1)
—  —  9,500  9,500 
Loan performance fee receivable 766  —  4,261  — 
Prepaid lease costs, trusts and other 6,510  5,230  473  396 
$ 7,282  $ 5,270  $ 15,859  $ 13,146 
    
(1)Securities, held-to-maturity, are expected to mature on September 1, 2024 and accrue interest based on the 1-year treasury rate.
Summary of Net Change in Carrying Value of MSRs
The net change in the carrying value of MSRs consisted of the following (in thousands):
December 31,
2022 2021
Beginning balance $ 1,855  $ 1,897 
Additions —  483 
Amortization (1,275) (525)
Reclassification to assets held for sale (280) — 
Loss on sale (300) — 
Ending balance $ —  $ 1,855 
Schedule of Deferred Compensation and Commissions
Deferred compensation and commissions consisted of the following (in thousands):
Current
December 31,		 Non-Current
December 31,
2022 2021 2022 2021
SARs liability (1)
$ 2,323  $ 2,241  $ 13,137  $ 14,918 
Commissions payable to investment sales and financing professionals 72,247  110,769  45,156  31,697 
Deferred compensation liability (1)
493  1,080  6,168  6,921 
Other 258  595  —  — 
$ 75,321  $ 114,685  $ 64,461  $ 53,536 
(1)The SARs and deferred compensation liability become subject to payout at the time a participant ceases providing services to the Company. As a result of the retirement of certain participants, estimated amounts to be paid to the participants within the next twelve months have 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):
Years Ended December 31,
2022 2021 2020
(Decrease) increase in the carrying value of the assets held in the rabbi trust (1)
$ (1,743) $ 1,445  $ 1,042 
Decrease (increase) in the net carrying value of the deferred compensation obligation (2)
$ 1,743  $ (1,104) $ (799)
(1)Recorded in other income (expense), net in the consolidated statements of operations.
(2)Recorded in selling, general and administrative expense in the consolidated statements of operations.
Summary of Other Liabilities
Other liabilities consisted of the following (in thousands):
Current
December 31,		 Non-Current
December 31,
2022 2021 2022 2021
Deferred consideration $ 3,633  $ 5,112  $ 1,486  $ 4,689 
Contingent consideration 1,726  2,681  5,341  6,631 
Dividends payable 612  —  1,603  — 
Stock repurchase payable 565  —  —  — 
Other 3,397  991  184  74 
$ 9,933  $ 8,784  $ 8,614  $ 11,394