Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.2.0.727
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 84,198 $ 149,159
Commissions receivable 5,131 3,412
Employee notes receivable 164 216
Prepaid expenses 6,506 7,536
Income tax receivable   1,711
Marketable securities, available for sale 51,070  
Deferred tax assets, net 11,841 13,600
Other assets, net 3,092 2,839
Total current assets 162,002 178,473
Prepaid rent 5,336 3,645
Property and equipment, net 8,593 7,693
Employee notes receivable 141 162
Marketable securities, available for sale 51,794 14,752
Assets held in rabbi trust 5,627 4,332
Deferred tax assets, net 21,941 21,265
Other assets 5,198 3,282
Total assets 260,632 233,604
Current liabilities:    
Accounts payable and accrued expenses 9,696 9,488
Accounts payable and accrued expenses - related party, net 88 97
Notes payable to former stockholders 939 894
Commissions payable 21,812 28,932
Income tax payable 9,697  
Accrued bonuses and other employee related expenses 16,112 27,793
Total current liabilities 58,344 67,204
Deferred compensation and commissions 36,401 36,581
Notes payable to former stockholders 9,671 10,610
Other liabilities 3,483 2,400
Total liabilities $ 107,899 $ 116,795
Stockholders' equity:    
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at June 30, 2015 and December 31, 2014    
Common Stock $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 37,107,516 and 36,918,442 at June 30, 2015 and December 31, 2014, respectively $ 4 $ 4
Additional paid-in capital 79,935 75,058
Stock notes receivable from employees (4) (4)
Retained earnings 72,817 41,592
Accumulated other comprehensive (loss) income (19) 159
Total stockholders' equity 152,733 116,809
Total liabilities and stockholders' equity $ 260,632 $ 233,604