Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 189,760 $ 232,670
Commissions receivable, net 3,600 5,003
Prepaid expenses 9,072 10,676
Income tax receivable 929 4,999
Marketable debt securities, available-for-sale (includes amortized cost and an allowance for credit losses of $143,115 and $0, respectively, at March 31, 2020) 143,864 150,752
Advances and loans, net 1,969 2,882
Other assets 2,871 3,185
Total current assets 352,065 410,167
Property and equipment, net 23,173 22,643
Operating lease right-of-use assets, net 88,454 90,535
Marketable debt securities, available-for-sale (includes amortized cost and an allowance for credit losses of $44,954 and $0, respectively, at March 31, 2020) 45,210 60,809
Assets held in rabbi trust 7,992 9,452
Deferred tax assets, net 20,959 22,122
Goodwill and other intangible assets, net 31,254 22,312
Advances and loans, net 96,857 66,647
Other assets 4,365 4,347
Total assets 670,329 709,034
Current liabilities:    
Accounts payable and other liabilities 10,642 10,790
Notes payable to former stockholders 6,564 6,564
Deferred compensation and commissions 25,253 44,301
Operating lease liabilities 17,715 17,762
Accrued bonuses and other employee related expenses 5,339 22,388
Total current liabilities 65,513 101,805
Deferred compensation and commissions 28,220 45,628
Operating lease liabilities 61,677 63,155
Other liabilities 5,627 3,539
Total liabilities 161,037 214,127
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock, $0.0001 par value Authorized shares – 25,000,000; issued and outstanding shares – none at March 31, 2020 and December 31, 2019, respectively 0 0
Common stock, $0.0001 par value Authorized shares – 150,000,000; issued and outstanding shares – 39,272,429 and 39,153,195 at March 31, 2020 and December 31, 2019, respectively 4 4
Additional paid-in capital 105,601 104,658
Stock notes receivable from employees (4) (4)
Retained earnings 401,308 388,271
Accumulated other comprehensive income 2,383 1,978
Total stockholders' equity 509,292 494,907
Total liabilities and stockholders' equity $ 670,329 $ 709,034