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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 8,492 $ 850
Restricted cash 31,859 24,860
Accounts receivable, net 193,155 153,608
Income taxes refundable   966
Deferred income taxes, net   4,796
Other current assets 18,701 15,903
Current assets before funds held for clients 252,207 200,983
Funds held for clients 205,867 171,497
Total current assets 458,074 372,480
Non-current assets:    
Property and equipment, net 19,727 20,162
Goodwill and other intangible assets, net 573,022 535,653
Assets of deferred compensation plan 68,040 64,245
Notes receivable 1,783 1,760
Other non-current assets 1,908 2,031
Total non-current assets 664,480 623,851
Total assets 1,122,554 996,331
Current liabilities:    
Accounts payable 54,823 35,555
Income taxes payable 5,950  
Accrued personnel costs 32,995 39,611
Notes payable 411  
Contingent purchase price liability 16,594 12,855
Other current liabilities 13,925 11,714
Current liabilities before client fund obligations 124,698 99,735
Client fund obligations 205,094 171,318
Total current liabilities 329,792 271,053
Non-current liabilities:    
Convertible notes, net   750
Bank debt [1] 235,500 205,800
Debt issuance costs [1] (1,613) (1,869)
Total long-term debt 233,887 204,681
Notes payable 1,383  
Income taxes payable 4,259 4,084
Deferred income taxes, net [1] 790 4,902
Deferred compensation plan obligations 68,040 64,245
Contingent purchase price liability 16,354 11,962
Other non-current liabilities 7,624 7,456
Total non-current liabilities 332,337 297,330
Total liabilities 662,129 568,383
STOCKHOLDERS' EQUITY    
Common stock 1,275 1,262
Additional paid in capital 645,462 634,626
Retained earnings 284,757 254,860
Treasury stock (469,995) (462,167)
Accumulated other comprehensive loss (1,074) (633)
Total stockholders’ equity 460,425 427,948
Total liabilities and stockholders’ equity $ 1,122,554 $ 996,331
[1] See Note 15 to accompanying consolidated financial statements for discussion of our adoption of ASU 2015-03, ASU 2015-15 and ASU 2015-17 (as defined in Note 15).