Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets (Unaudited)

v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 172,589 $ 540,203
Commissions and fees receivable – net 528,561 389,758
Fiduciary cash and receivables 4,474,847 3,739,727
Prepaid incentives – net 9,652 9,219
Other current assets 80,694 109,951
Total current assets 5,266,343 4,788,858
NON-CURRENT ASSETS    
Goodwill 3,085,182 2,646,676
Customer relationships 1,533,954 1,392,048
Other intangible assets 101,728 83,674
Prepaid incentives – net 14,988 17,442
Equity method investments 96,007 70,877
Property and equipment – net 66,453 50,209
Lease right-of-use assets 134,288 133,256
Deferred tax assets 311,368 448,289
Other non-current assets 15,461 18,589
Total non-current assets 5,359,429 4,861,060
TOTAL ASSETS 10,625,772 9,649,918
CURRENT LIABILITIES    
Accounts payable and accrued liabilities 195,677 249,200
Accrued compensation 452,810 486,322
Operating lease liabilities 23,443 22,107
Tax Receivable Agreement liabilities 24,988 0
Short-term debt and current portion of long-term debt 61,688 51,732
Fiduciary liabilities 4,474,847 3,739,727
Total current liabilities 5,233,453 4,549,088
NON-CURRENT LIABILITIES    
Accrued compensation 66,712 49,362
Operating lease liabilities 157,416 159,231
Long-term debt 3,410,389 3,231,128
Tax Receivable Agreement liabilities 436,124 436,296
Deferred tax liabilities 41,265 39,922
Other non-current liabilities 98,264 86,606
Total non-current liabilities 4,210,170 4,002,545
TOTAL LIABILITIES 9,443,623 8,551,633
STOCKHOLDERS’ EQUITY    
Preferred stock ($0.001 par value; 500,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2025 and December 31, 2024) 0 0
Additional paid-in capital 479,117 506,258
Retained earnings 115,352 122,939
Accumulated other comprehensive income (loss) 15,355 (1,796)
Total stockholders’ equity attributable to Ryan Specialty Holdings, Inc. 610,086 627,662
Non-controlling interests 572,063 470,623
Total stockholders’ equity 1,182,149 1,098,285
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 10,625,772 9,649,918
Class A Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock 127 125
Class B Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock 135 136
Class X common stock    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0