Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 81

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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,952 $(33,678)$159,274 Unbilled work in progress, net of allowance for credit losses192,012 10,704 202,716 Contract Assets (1)6,678 735 7,413 Contract Liabilities (2)33,139 7,361 40,500 (1)Included within Accounts receivable, net of allowance for credit losses in the December 31, 2024 Consolidated Balance Sheets.(2)Included within Deferred income in the December 31, 2024 Consolidated Balance Sheets.During the three and nine months ended December 31, 2024, $3,436 and $18,777 of Revenues, respectively, were recognized that were included in the Deferred income balance at the beginning of the period.As a practical expedient, the Company does not disclose information about remaining performance obligations pertaining to (i) contracts that have an original expected duration of one year or less, and/or (ii) contracts where the variable consideration is allocated entirely to a wholly unsatisfied promise to transfer a distinct service that is or forms part of a single performance obligation. The transaction price allocated to remaining unsatisfied or partially unsatisfied performance obligations with an original expected duration exceeding one year was not material as of December 31, 2024.

Note 4 — Related Party Transactions

The Company provides financial advisory services to certain related parties, and received fees for these services totaling approximately $1,049 and $6,686 for the three months ended December 31, 2024 and 2023, respectively, and $2,470 and $8,223 for the nine months ended December 31, 2024 and 2023, respectively. Accounts receivable and Unbilled work in progress in the accompanying Consolidated Balance Sheets include amounts pertaining to these services of $37 and $7,228 as of December 31, 2024 and March 31, 2024, respectively.

Other assets in the accompanying Consolidated Balance Sheets includes loans receivable from certain employees of $42,703 and $32,937 as of December 31, 2024 and March 31, 2024, respectively. 

Note 5 — Fair Value Measurements

The following table presents information about the Company's financial assets, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair values:December 31, 2024Level ILevel IILevel IIITotalCorporate debt securities