XML 13 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 59,317,703 $ 57,189,876
Investment portfolio 117,424,036 108,015,635
Accounts receivable 18,854,644 18,605,209
Prepaid expenses 2,362,435 2,032,726
Income taxes receivable 0 1,111,890
Property and equipment, net of depreciation 3,689,145 4,025,758
Deferred taxes 9,236,986 8,736,767
Total assets 210,884,949 199,717,861
Liabilities    
Accounts payable and accrued expenses 6,535,053 9,787,048
Accrued incentive compensation 6,487,000 22,683,500
Deferred compensation 18,683,617 14,182,470
Income taxes payable 5,885,599 0
Total liabilities 37,591,269 46,653,018
Redeemable noncontrolling interest 16,218,344 13,840,688
Shareholders’ equity    
Common stock, no par value 7,000,000 shares authorized; 3,443,013 issued and outstanding at March 31, 2017 (inclusive of 201,750 unvested shares); 3,411,556 issued and outstanding at December 31, 2016 (inclusive of 201,800 unvested shares) 114,459,766 109,293,803
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (17,799,783) (17,728,106)
Retained earnings 60,415,353 47,658,458
Total shareholders’ equity 157,075,336 139,224,155
Total liabilities and shareholders’ equity $ 210,884,949 $ 199,717,861
Book value per share (usd per share) $ 45.62 $ 40.81