Ladenburg thalmann financial services inc. (LTSL)
Balance Sheet / Yearly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Cash and Cash Equivalents, at Carrying Value

248,772

251,033

239,780

167,847

182,693

262,834

204,847

145,417

172,103

100,739

88,852

75,643

98,930

105,989

96,739

96,529

118,677

114,548

124,548

122,773

103,087

94,952

83,741

48,529

50,329

50,874

43,900

38,293

35,434

24,199

22,298

18,887

31,597

10,627

9,190

6,927

Securities owned, at fair value

4,449

4,601

4,820

7,967

10,923

5,451

6,548

4,104

3,881

4,147

4,267

3,319

3,543

3,646

3,763

3,780

4,079

4,125

4,617

4,986

5,910

5,858

4,487

6,717

4,789

3,834

6,920

3,066

2,078

1,132

1,336

5,129

2,014

1,584

2,517

2,662

Receivables from Clearing Organizations

23,086

27,835

35,049

42,059

24,068

26,650

45,013

55,842

48,543

56,722

55,422

44,200

41,492

35,018

31,885

34,160

44,466

51,273

51,582

45,618

38,760

68,378

36,317

40,059

31,391

30,883

31,442

20,508

16,973

28,677

29,216

23,216

18,399

18,750

21,327

18,073

Receivables from other broker-dealers

4,051

5,597

2,641

4,143

7,078

1,472

2,520

2,263

2,822

1,927

2,346

2,207

853

1,561

2,280

2,376

2,150

961

4,387

2,131

1,788

1,840

5,730

4,824

2,126

1,803

4,596

2,632

2,149

1,531

1,817

1,285

513

380

3,039

1,364

Notes receivable from financial advisors, net

8,781

7,459

6,055

5,343

5,809

6,520

5,893

6,522

47,369

33,984

33,923

33,486

32,611

29,180

27,724

27,456

26,967

25,604

23,249

25,433

26,152

26,898

29,007

29,973

31,751

32,444

34,232

37,378

39,148

40,333

42,749

43,840

44,308

-

-

1,464

Other receivables, net

71,810

67,419

70,480

136,144

68,942

130,507

129,182

122,154

60,707

48,791

50,119

55,067

54,634

51,689

52,874

50,954

48,564

38,457

37,819

35,197

36,872

28,671

24,304

23,105

21,687

20,887

19,142

20,674

20,534

17,611

19,605

18,679

18,873

8,027

11,225

7,698

Contract with Customer, Asset, after Allowance for Credit Loss

73,782

67,290

65,370

-

64,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property, Plant, And Equipment And Finance Lease Right-Of-Use Asset, After Accumulated Depreciation And Amortization

33,750

32,068

31,463

30,815

29,994

28,590

26,307

23,886

23,621

22,822

22,118

21,699

21,253

21,121

21,663

21,862

21,753

21,921

21,616

20,777

19,820

19,245

18,599

16,883

15,866

15,002

14,182

13,011

13,199

12,374

12,555

11,589

12,011

2,293

2,427

2,805

Right-of-use assets

30,571

31,815

33,396

34,715

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted Cash and Cash Equivalents

770

771

770

770

6,588

6,589

6,589

760

760

760

760

1,011

1,011

1,011

1,011

1,011

1,011

911

800

800

620

470

470

470

570

570

320

320

320

320

320

320

320

150

150

200

Intangible assets, net

59,998

62,896

65,825

69,442

73,064

74,233

72,296

76,131

103,611

108,796

114,051

119,452

124,938

125,500

127,605

132,786

137,931

143,897

146,337

148,792

123,000

104,936

70,611

73,430

76,251

79,228

82,123

85,052

87,988

90,055

92,980

95,904

98,829

24,531

25,165

26,431

Goodwill

126,079

126,079

126,079

126,079

126,079

125,966

124,210

124,210

124,210

124,211

124,031

124,031

124,031

125,911

125,533

125,552

125,572

125,877

125,655

124,734

115,238

106,926

90,462

90,481

90,501

90,520

90,540

90,559

90,578

90,174

90,193

90,213

91,161

29,708

29,711

29,719

Contract acquisition costs, net

87,942

86,520

85,754

83,784

80,726

77,803

76,972

73,234

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unamortized debt issue cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

347

441

535

644

755

853

951

1,069

1,190

1,317

1,649

1,768

1,888

2,007

2,126

2,246

1,787

1,457

1,597

Cash surrender value of life insurance

15,230

13,934

13,815

13,059

11,406

13,478

12,907

12,691

12,711

12,200

11,761

10,618

10,210

9,616

8,204

8,133

9,247

8,821

9,760

9,753

10,419

10,140

11,923

11,526

12,370

11,620

11,004

10,974

11,207

11,185

10,777

11,301

12,161

-

-

-

Income taxes receivable

0

0

0

473

2,156

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,741

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

40,865

32,807

36,252

38,643

47,078

40,498

34,606

36,941

31,687

37,516

30,638

33,315

32,497

33,514

32,790

32,366

33,688

26,548

27,689

31,224

28,448

24,263

22,408

21,479

22,120

15,980

16,895

15,930

16,753

14,357

14,492

16,856

14,713

2,955

3,352

2,885

Assets

829,936

818,124

817,549

761,283

740,904

800,591

747,890

684,155

632,025

552,615

538,288

524,048

546,003

543,756

532,071

541,706

574,105

563,290

578,500

572,753

510,758

493,332

398,912

368,427

360,820

354,835

356,613

340,046

338,129

333,836

340,345

339,345

347,145

100,792

109,560

101,825

LIABILITIES AND SHAREHOLDERS’ EQUITY
Securities sold, but not yet purchased, at fair value

420

35

3,397

5,097

2,575

66

4,920

235

231

198

351

333

382

676

628

311

238

419

5,183

321

230

3,434

353

6,010

83

333

4,619

306

292

87

64

33

78

10

1,758

10

Accrued compensation

40,350

36,871

25,800

18,743

39,264

32,013

27,418

18,828

33,343

28,607

20,743

14,121

26,299

19,055

17,931

12,690

29,115

22,913

18,434

11,984

23,483

21,813

17,093

13,267

20,098

17,773

14,096

10,070

12,017

11,825

12,279

8,078

10,499

6,615

4,960

5,328

Commissions and fees payable

109,719

106,004

105,673

105,121

105,306

109,247

105,194

95,937

67,221

62,384

61,696

63,433

60,594

57,136

55,523

57,683

59,995

50,023

51,335

48,817

45,294

39,392

38,706

36,726

32,800

33,401

31,374

32,547

31,570

28,814

28,056

28,397

25,891

6,526

10,183

9,264

Accounts payable and accrued liabilities

50,038

37,197

43,696

42,166

48,741

50,122

54,169

52,205

40,478

42,895

38,202

40,162

39,876

37,189

26,825

29,657

30,804

24,615

22,421

29,043

25,747

22,328

14,431

18,129

19,846

13,226

17,038

13,883

13,735

8,930

12,164

10,903

19,203

5,450

5,590

6,751

Deferred rent

-

-

0

0

2,956

2,970

2,772

2,571

2,151

2,083

1,999

1,942

1,764

1,480

1,481

1,574

1,551

1,573

1,618

1,456

1,514

1,585

1,689

1,782

1,871

2,190

1,605

1,790

1,977

1,935

2,020

2,175

2,333

2,491

2,647

2,928

Lease liability

33,510

34,798

36,395

37,713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

12,269

13,945

14,018

13,763

14,068

12,659

6,558

6,532

2,968

10,469

9,290

9,685

10,642

10,145

10,876

0

4,416

1,600

2,737

1,729

3,216

9,040

8,031

7,753

7,499

7,240

7,003

6,807

6,545

6,260

5,985

6,101

6,548

3,054

2,827

2,418

Deferred compensation liability

26,722

24,602

23,672

21,914

20,622

21,963

19,999

18,340

18,161

18,486

17,904

17,308

17,247

17,308

16,632

16,315

17,211

16,565

17,372

17,217

17,640

16,704

18,902

18,457

19,056

18,351

17,664

17,624

17,955

17,803

17,346

17,794

18,701

-

-

-

Accrued interest

0

0

1,792

1,507

123

0

191

261

232

482

410

342

281

1,107

1,011

916

823

1,330

1,010

1,031

1,129

2,039

1,650

1,440

1,506

2,602

1,442

5,154

4,838

5,901

5,575

5,243

3,265

242

587

328

Notes payable, net of unamortized discount of $5,718 and $6,372 in 2019 and 2018, respectively, and net of debt issuance costs of $8,642 and $7,086 in 2019 and 2018 respectively.

315,443

315,898

316,416

261,237

254,072

185,199

136,171

98,997

96,849

28,182

30,573

24,563

26,417

48,364

50,683

52,333

53,921

59,184

60,911

62,627

56,034

62,131

55,216

54,857

64,648

75,978

86,447

198,880

197,979

199,616

199,073

198,630

197,184

30,051

31,958

27,879

Total liabilities

588,471

569,350

570,859

507,261

487,727

414,239

357,392

293,906

261,634

193,786

181,168

171,889

183,502

192,460

181,590

171,479

198,074

178,222

181,021

174,225

174,287

178,466

156,071

158,421

167,407

171,094

181,288

287,061

286,908

281,171

282,562

277,354

283,702

54,439

60,510

54,906

Commitments and contingencies (Note 15)

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Shareholders’ equity:
Preferred stock, $.0001 par value; authorized 50,000,000 shares: 8% Series A cumulative redeemable preferred stock; designated 23,844,916 shares in 2019 and 2018; shares issued and outstanding 17,401,282 in 2019 and 17,012,075 in 2018 (liquidation preference $435,032 and $425,302 in 2019 and 2018, respectively)

2

2

2

2

2

2

2

2

2

2

2

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

0

0

0

0

0

0

0

0

0

Common stock, $.0001 par value; authorized 1,000,000,000 shares in 2019 and 2018; shares issued and outstanding, 149,311,259 in 2019 and 146,535,796 in 2018

15

15

15

15

14

20

20

20

20

20

20

19

19

19

19

19

19

19

19

19

18

18

18

18

18

18

18

18

18

18

18

18

18

18

18

18

Additional paid-in capital

309,918

317,735

326,928

341,768

344,356

487,752

501,348

510,409

520,135

515,208

516,901

513,267

519,879

509,335

501,005

502,950

511,138

517,988

527,462

526,074

460,446

452,263

393,021

363,109

350,780

343,620

337,643

209,768

208,187

207,276

206,357

205,582

204,055

193,319

192,946

191,424

Accumulated deficit

-68,479

-68,971

-80,327

-87,815

-91,246

-101,467

-110,904

-120,206

-149,778

-156,423

-159,822

-161,150

-157,425

-158,055

-150,541

-132,754

-135,156

-132,952

-130,026

-127,557

-124,005

-137,406

-150,209

-153,153

-157,438

-159,969

-162,371

-156,848

-156,984

-154,629

-148,592

-143,609

-140,630

-146,984

-143,914

-144,523

Total shareholders’ equity of the Company

241,456

248,781

246,618

253,970

253,126

386,307

390,466

390,225

370,379

358,807

357,101

352,137

362,474

351,300

350,484

370,227

376,002

385,068

397,479

398,528

336,460

314,866

242,841

210,006

193,413

183,741

175,325

52,985

51,221

52,665

57,783

61,991

63,443

46,353

49,050

46,919

Noncontrolling interest

9

-7

72

52

51

45

32

24

12

22

19

22

27

-4

-3

11

29

12

23

-9

11

-10

10

31

52

71

34

47

0

-

-

-

-

-

-

-

Total shareholders' equity

241,465

248,774

246,690

254,022

253,177

386,352

390,498

390,249

370,391

358,829

357,120

352,159

362,501

351,296

350,481

370,216

376,031

385,056

397,456

398,537

336,471

314,876

242,831

209,975

193,361

183,670

175,291

52,938

51,221

-

-

-

-

-

-

-

Total liabilities and shareholders' equity

829,936

818,124

817,549

761,283

740,904

800,591

747,890

684,155

632,025

552,615

538,288

524,048

546,003

543,756

532,071

541,706

574,105

563,290

578,500

572,753

510,758

493,332

398,912

368,427

360,820

354,835

356,613

340,046

338,129

333,836

340,345

339,345

347,145

100,792

109,560

101,825