Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 83

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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$75,418 $75,459 $7,592 $7,566 Due within years two through five28,496 28,079 31,328 30,439 Total debt within the investment securities portfolio$103,914 $103,538 $38,920 $38,005 

Note 7 — Allowance for Credit Losses

The following table presents information about the Company's allowance for credit losses:December 31, 2024Beginning balance$14,899 Provision for bad debt, net8,608 Recovery/(write-off) of uncollectible accounts, net (3,413)Ending balance$20,094 

14

Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(UNAUDITED)(In thousands, except share data or as otherwise stated)

Note 8 — Property and Equipment

Property and equipment, net of accumulated depreciation consists of the following:December 31, 2024March 31, 2024Equipment$10,899 $9,972 Furniture and fixtures34,798 29,672Leasehold improvements148,503 144,996Computers and software15,094 12,282Other8,090 8,088Total cost217,384 205,010 Less: accumulated depreciation(77,279)(68,309)Total net book value$140,105 $136,701 Additions to property and equipment during the nine months ended December 31, 2024 were primarily related to leasehold improvement costs incurred.

Depreciation expense of $5,495 and $5,097 was recognized for the three months ended December 31, 2024 and 2023, respectively, and $16,187 and $12,000 for the nine months ended December 31, 2024 and 2023, respectively.

Note 9 — Goodwill and Other Intangible Assets

The following table provides a reconciliation of Goodwill and other intangibles, net reported on the Consolidated Balance Sheets.Useful LivesDecember 31, 2024March 31, 2024GoodwillIndefinite$1,280,304 $1,127,497 Tradename-Houlihan LokeyIndefinite192,210 192,210 Other intangible assetsVaries133,178