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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 567 $ 640
Restricted cash 29,595 27,481
Accounts receivable, net 222,031 207,287
Other current assets 24,325 26,841
Current assets before funds held for clients 276,518 262,249
Funds held for clients 179,502 161,289
Total current assets 456,020 423,538
Non-current assets:    
Property and equipment, net 39,412 34,205
Goodwill and other intangible assets, net 654,671 637,009
Assets of deferred compensation plan 106,851 84,435
Operating lease right-of-use asset, net 140,831  
Other non-current assets 2,989 3,844
Total non-current assets 944,754 759,493
Total assets 1,400,774 1,183,031
Current liabilities:    
Accounts payable 68,510 58,630
Income taxes payable 57 464
Accrued personnel costs 59,898 63,953
Contingent purchase price liability 16,193 22,538
Operating lease liability 29,030  
Other current liabilities 13,218 13,656
Current liabilities before client fund obligations 186,906 159,241
Client fund obligations 179,020 162,073
Total current liabilities 365,926 321,314
Non-current liabilities:    
Bank debt 105,500 135,500
Debt issuance costs (1,167) (1,526)
Total long-term debt 104,333 133,974
Income taxes payable 3,053 3,402
Deferred income taxes, net 11,720 6,764
Deferred compensation plan obligations 106,851 84,435
Contingent purchase price liability 15,896 17,170
Operating lease liability 132,018  
Other non-current liabilities 1,739 22,309
Total non-current liabilities 375,610 268,054
Total liabilities 741,536 589,368
STOCKHOLDERS’ EQUITY    
Common stock, par value $0.01 per share; shares authorized 250,000; shares issued 133,056 and 131,404; shares outstanding 55,419 and 55,072 1,331 1,314
Additional paid-in capital 714,704 692,398
Retained earnings 479,576 408,963
Treasury stock, 77,637 and 76,332 shares (535,693) (508,530)
Accumulated other comprehensive loss (680) (482)
Total stockholders’ equity 659,238 593,663
Total liabilities and stockholders’ equity $ 1,400,774 $ 1,183,031