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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 80,550,393 $ 98,478,202
Investments 166,656,001 128,401,136
Accounts receivable 20,443,562 17,805,864
Prepaid expenses 2,555,296 2,977,759
Income taxes receivable 0 256,538
Property and equipment, net of depreciation 6,100,599 6,740,396
Deferred taxes 9,847,552 8,437,446
Total assets 286,153,403 263,097,341
Liabilities    
Accounts payable and accrued expenses 8,588,713 8,002,303
Accrued incentive compensation 37,235,418 28,400,000
Deferred compensation 37,348,294 33,241,952
Income taxes payable 801,740 0
Total liabilities 83,974,165 69,644,255
Redeemable noncontrolling interest 17,756,336 9,372,333
Permanent Shareholders’ Equity    
Common stock, no par value: 7,000,000 shares authorized; 3,171,536 issued and outstanding at December 31, 2021 (inclusive of 201,170 unvested shares); 3,168,823 issued and outstanding at December 31, 2020 (inclusive of 183,718 unvested shares) 80,434,049 80,810,946
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (15,268,705) (14,748,118)
Retained Earnings 119,257,558 118,017,925
Total permanent shareholders’ equity 184,422,902 184,080,753
Total liabilities and shareholders’ equity $ 286,153,403 $ 263,097,341
Book value per share (in dollars per share) $ 58.15 $ 58.09