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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 63,189,773 $ 80,550,393
Investments 136,241,599 166,656,001
Accounts receivable 19,327,637 20,443,562
Prepaid expenses 3,692,086 2,555,296
Income taxes receivable 1,658,895 0
Property and equipment, net of accumulated depreciation 4,720,696 6,100,599
Deferred taxes 14,844,976 9,847,552
Total assets 243,675,662 286,153,403
Liabilities    
Accounts payable and accrued expenses 12,160,734 8,588,713
Accrued incentive compensation 24,260,281 37,235,418
Income taxes payable 0 801,740
Deferred compensation 28,226,669 37,348,294
Total liabilities 64,647,684 83,974,165
Redeemable noncontrolling interest 12,393,053 17,756,336
Permanent Shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 3,035,784 issued and outstanding at September 30, 2022 (inclusive of 233,686 unvested shares); 3,171,536 issued and outstanding at December 31, 2021 (inclusive of 201,170 unvested shares) 55,910,331 80,434,049
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (19,975,380) (15,268,705)
Retained earnings 130,699,974 119,257,558
Total permanent shareholders’ equity 166,634,925 184,422,902
Total liabilities and shareholders’ equity $ 243,675,662 $ 286,153,403
Book value per share (usd per share) $ 54.89 $ 58.15