Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 0

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
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Item 1.    Financial Statements

HOULIHAN LOKEY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

(UNAUDITED)

(In thousands, except share data and par value)December 31, 2024March 31, 2024AssetsCash and cash equivalents$799,340 $721,235 Restricted cash1,452 619 Investment securities103,538 38,005 Accounts receivable, net of allowance for credit losses of $6,922 and $8,767, respectively166,687 199,630 Unbilled work in progress, net of allowance for credit losses of $13,172 and $6,132, respectively202,716 192,012 Income taxes receivable— 32,856 Deferred income taxes83,428 90,064 Property and equipment, net140,105 136,701 Operating lease right-of-use assets355,937 344,024 Goodwill1,280,304 1,127,497 Other intangible assets, net222,113 197,439 Other assets120,142 90,677 Total assets$3,475,762 $3,170,759 Liabilities and stockholders' equityLiabilities:Accrued salaries and bonuses$719,301 $726,031 Accounts payable and accrued expenses123,129 114,171 Deferred income40,500 33,139 Income taxes payable5,501 — Deferred income taxes7,711 7,505 Operating lease liabilities433,032 415,412 Other liabilities66,047 37,751 Total liabilities1,395,221 1,334,009 Commitments and contingencies (Note 17)Stockholders' equity:Class A common stock, $0.001 par value. Authorized 1,000,000,000 shares; issued and outstanding 54,015,734 and 52,348,511 shares, respectively54 52 Class B common stock, $0.001 par value. Authorized 1,000,000,000 shares; issued and outstanding 16,129,101 and 16,746,676 shares, respectively16 17 Additional paid-in capital851,854 739,870 Retained earnings1,314,974 1,163,419 Accumulated other comprehensive loss(86,357)(66,