| Schedule of Other Assets |
Other assets consisted of the following (in thousands):
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|
|
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|
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| |
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Current
December 31, |
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Non-Current
December 31, |
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| |
|
2014 |
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|
2013 |
|
|
2014 |
|
|
2013 |
|
|
Due from independent contractors, net (1) (2)
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|
$ |
1,577 |
|
|
$ |
1,249 |
|
|
$ |
1,820 |
|
|
$ |
1,280 |
|
|
Security deposits
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|
|
— |
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|
|
— |
|
|
|
1,240 |
|
|
|
1,126 |
|
|
Customer trust accounts and other
|
|
|
1,262 |
|
|
|
1,180 |
|
|
|
222 |
|
|
|
72 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,839 |
|
|
$ |
2,429 |
|
|
$ |
3,282 |
|
|
$ |
2,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Includes allowance for doubtful
accounts related to current of $193,000 and $223,000 as of
December 31, 2014 and 2013, respectively. The Company recorded
a provision for bad debt expense of $29,000, $207,000 and $97,000
and wrote off $59,000, $152,000 and $173,000 of these receivables
for the years ended December 31, 2014, 2013 and 2012,
respectively. |
|
(2) |
Represents amounts advanced, notes
receivable and other receivables due from the Company’s 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, 2014
and 2013, the weighted average interest rate for notes receivable
due from the Company’s sales and financing professionals was
approximately 2.8% and 2.2%, respectively. Any cash receipts on
notes are applied first to unpaid principal balance prior to any
income being recognized. |
|
| Components of Deferred Compensation and Commissions |
Deferred compensation and commissions consisted of the following
(in thousands):
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2014 |
|
|
2013 |
|
|
SARs liability
|
|
$ |
20,542 |
|
|
$ |
19,970 |
|
|
Commissions payable to sales and financing professionals
|
|
|
12,176 |
|
|
|
8,623 |
|
|
Deferred compensation liability
|
|
|
3,863 |
|
|
|
3,584 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
36,581 |
|
|
$ |
32,177 |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Other Liabilities |
Other liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2014 |
|
|
2013 |
|
|
Long term deferred rent
|
|
$ |
2,356 |
|
|
$ |
2,952 |
|
|
Accrued legal (1)
|
|
|
— |
|
|
|
1,351 |
|
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Other
|
|
|
44 |
|
|
|
68 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,400 |
|
|
$ |
4,371 |
|
|
|
|
|
|
|
|
|
|
|
(1) |
Excludes the current portion of
accrued legal, which is included in accounts payable and accrued
expenses on the consolidated balance sheets. |
|