Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

v3.2.0.727
Accrued Expenses
 6 Months Ended
Jun. 30, 2015
Accrued Expenses  
Accrued Expenses

 

9.Accrued Expenses

 

Accrued expenses consist of the following:

 

 

 

June 30,

 

December 31,

 

 

 

2015

 

2014

 

 

 

 

 

 

 

Accrued investment manager fees

 

$
28,170 

 

$
25,195 

 

Accrued compensation and related taxes

 
12,787 

 
18,344 

 

Accrued professional services

 
424 

 
536 

 

Estimated accrued software license fees

 

—

 
800 

 

Acquisition related purchase liabilities

 
3,497 

 

—

 

Accrued restructuring charges

 
518 

 

—

 

Other accrued expenses

 
3,055 

 
3,372 

 

 

 

 

 

 

 

 

 

$
48,451 

 

$
48,247 

 

 

 

 

 

 

 

 

 

 

Acquisition related purchase liabilities represent future payments to former Upside and Finance Logix owners of $615 and $2,905, respectively, related to indemnity holdback amounts as of June 30, 2015.

 

During the second quarter of 2015, the Company closed its Wellesley office in order to more appropriately align and manage the Company’s resources.  In the three and six months ended June 30, 2015, the Company recognized pre-tax restructuring charges of $518, primarily for future lease payments.