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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 58,502,482 $ 80,550,393
Investments 150,663,308 166,656,001
Accounts receivable 19,207,451 20,443,562
Prepaid expenses 3,103,059 2,555,296
Income taxes receivable 2,206,085 0
Property and equipment, net of accumulated depreciation 5,171,443 6,100,599
Deferred taxes 13,327,856 9,847,552
Total assets 252,181,684 286,153,403
Liabilities    
Accounts payable and accrued expenses 12,630,728 8,588,713
Accrued incentive compensation 16,851,674 37,235,418
Income taxes payable 0 801,740
Deferred compensation 29,278,306 37,348,294
Total liabilities 58,760,708 83,974,165
Redeemable noncontrolling interest 22,300,189 17,756,336
Permanent Shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 3,122,317 issued and outstanding at June 30, 2022 (inclusive of 247,416 unvested shares); 3,171,536 issued and outstanding at December 31, 2021 (inclusive of 201,170 unvested shares) 71,099,716 80,434,049
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (23,250,408) (15,268,705)
Retained earnings 123,271,479 119,257,558
Total permanent shareholders’ equity 171,120,787 184,422,902
Total liabilities and shareholders’ equity $ 252,181,684 $ 286,153,403
Book value per share (usd per share) $ 54.81 $ 58.15