Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 154,880 $ 232,670
Commissions receivable, net 4,956 5,003
Prepaid expenses 8,391 10,676
Income tax receivable 4,224 4,999
Marketable debt securities, available-for-sale (includes amortized cost of $169,195 and $150,517 at June 30, 2020 and December 31, 2019, respectively, and $0 allowance for credit losses) 169,768 150,752
Advances and loans, net 1,830 2,882
Other assets 3,619 3,185
Total current assets 347,668 410,167
Property and equipment, net 23,429 22,643
Operating lease right-of-use assets, net 86,035 90,535
Marketable debt securities, available-for-sale (includes amortized cost of $40,808 and $59,468 at June 30, 2020 and December 31, 2019, respectively, and $0 allowance for credit losses) 42,781 60,809
Assets held in rabbi trust 9,081 9,452
Deferred tax assets, net 17,710 22,122
Goodwill and other intangible assets, net 37,829 22,312
Advances and loans, net 101,781 66,647
Other assets 4,501 4,347
Total assets 670,815 709,034
Current liabilities:    
Accounts payable and other liabilities 10,914 10,790
Notes payable to former stockholders 0 6,564
Deferred compensation and commissions 25,549 44,301
Operating lease liabilities 17,880 17,762
Accrued bonuses and other employee related expenses 4,211 22,388
Total current liabilities 58,554 101,805
Deferred compensation and commissions 31,388 45,628
Operating lease liabilities 60,262 63,155
Other liabilities 7,698 3,539
Total liabilities 157,902 214,127
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock, $0.0001 par value Authorized shares – 25,000,000; issued and outstanding shares – none at June 30, 2020 and December 31, 2019, respectively 0 0
Common stock, $0.0001 par value Authorized shares – 150,000,000; issued and outstanding shares – 39,328,017 and 39,153,195 at June 30, 2020 and December 31, 2019, respectively 4 4
Additional paid-in capital 108,308 104,658
Stock notes receivable from employees 0 (4)
Retained earnings 401,414 388,271
Accumulated other comprehensive income 3,187 1,978
Total stockholders' equity 512,913 494,907
Total liabilities and stockholders' equity $ 670,815 $ 709,034