XML 45 R34.htm IDEA: XBRL DOCUMENT
v3.19.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Fair Value Disclosures [Abstract] |
Categorization of Investments and Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table presents the categorization of investments and certain other financial assets measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018:
| March 31, 2019
| Level I |  | Level II |  | Level III |  | Total
Corporate Bonds, Municipal Bonds and Other Debt Securities(1) | $ | 108,794 |  |  | $ | 64,768 |  |  | $ | — |  |  | $ | 173,562 |
Securities Investments(2) | 6,380 |  |  | 2,053 |  |  | — |  |  | 8,433 |
Investment Funds | 64,816 |  |  | — |  |  | — |  |  | 64,816 |
Financial Instruments Owned and Pledged as Collateral at Fair Value | 16,978 |  |  | — |  |  | — |  |  | 16,978 |
Other | — |  |  | 21 |  |  | — |  |  | 21 |
Total Assets Measured At Fair Value | $ | 196,968 |  |  | $ | 66,842 |  |  | $ | — |  |  | $ | 263,810 |
| December 31, 2018
| Level I |  | Level II |  | Level III |  | Total
Corporate Bonds, Municipal Bonds and Other Debt Securities(1) | $ | 109,577 |  |  | $ | 62,801 |  |  | $ | — |  |  | $ | 172,378 |
Securities Investments(2) | 6,232 |  |  | 1,982 |  |  | — |  |  | 8,214 |
Investment Funds | 54,776 |  |  | — |  |  | — |  |  | 54,776 |
Financial Instruments Owned and Pledged as Collateral at Fair Value | 22,349 |  |  | — |  |  | — |  |  | 22,349 |
Total Assets Measured At Fair Value | $ | 192,934 |  |  | $ | 64,783 |  |  | $ | — |  |  | $ | 257,717 |
(1) | Includes $27,160 and $24,415 of treasury bills, municipal bonds and commercial paper classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2019 and December 31, 2018, respectively.
(2) | Includes $6,168 and $6,326 of treasury bills and notes and municipal bonds classified within Cash and Cash Equivalents on the Unaudited Condensed Consolidated Statements of Financial Condition as of March 31, 2019 and December 31, 2018, respectively.
Carrying Amount and Estimated Fair Value of Financial Instrument Assets and Liabilities which are Not Measured at Fair Value | The carrying amount and estimated fair value of the Company's financial instrument assets and liabilities, which are not measured at fair value on the Unaudited Condensed Consolidated Statements of Financial Condition, are listed in the tables below.
|  |  | March 31, 2019
| Carrying |  | Estimated Fair Value
| Amount |  | Level I |  | Level II |  | Level III |  | Total
Financial Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 305,015 |  |  | $ | 305,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 305,015 |
Debt Security Investment | 9,227 |  |  | — |  |  | — |  |  | 9,227 |  |  | 9,227 |
Securities Purchased Under Agreements to Resell | 8,570 |  |  | — |  |  | 8,570 |  |  | — |  |  | 8,570 |
Receivables(1) | 417,797 |  |  | — |  |  | 412,700 |  |  | — |  |  | 412,700 |
Contract Assets(2) | 2,614 |  |  | — |  |  | 2,369 |  |  | — |  |  | 2,369 |
Receivable from Employees and Related Parties | 22,207 |  |  | — |  |  | 22,207 |  |  | — |  |  | 22,207 |
Closely-held Equity Security | 1,079 |  |  | — |  |  | — |  |  | 1,079 |  |  | 1,079 |
Financial Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses | $ | 38,709 |  |  | $ | — |  |  | $ | 38,709 |  |  | $ | — |  |  | $ | 38,709 |
Securities Sold Under Agreements to Repurchase | 25,552 |  |  | — |  |  | 25,552 |  |  | — |  |  | 25,552 |
Payable to Employees and Related Parties | 45,036 |  |  | — |  |  | 45,036 |  |  | — |  |  | 45,036 |
Notes Payable | 168,679 |  |  | — |  |  | 168,442 |  |  | — |  |  | 168,442 |
|  |  | December 31, 2018
| Carrying |  | Estimated Fair Value
| Amount |  | Level I |  | Level II |  | Level III |  | Total
Financial Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | 759,849 |  |  | $ | 759,849 |  |  | $ | — |  |  | $ | — |  |  | $ | 759,849 |
Certificates of Deposit | 100,000 |  |  | — |  |  | 100,000 |  |  | — |  |  | 100,000 |
Debt Security Investment | 9,717 |  |  | — |  |  | — |  |  | 9,717 |  |  | 9,717 |
Securities Purchased Under Agreements to Resell | 2,696 |  |  | — |  |  | 2,696 |  |  | — |  |  | 2,696 |
Receivables(1) | 370,023 |  |  | — |  |  | 369,636 |  |  | — |  |  | 369,636 |
Contract Assets(2) | 3,374 |  |  | — |  |  | 3,348 |  |  | — |  |  | 3,348 |
Receivable from Employees and Related Parties | 23,836 |  |  | — |  |  | 23,836 |  |  | — |  |  | 23,836 |
Closely-held Equity Security | 1,079 |  |  | — |  |  | — |  |  | 1,079 |  |  | 1,079 |
Financial Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable and Accrued Expenses | $ | 37,948 |  |  | $ | — |  |  | $ | 37,948 |  |  | $ | — |  |  | $ | 37,948 |
Securities Sold Under Agreements to Repurchase | 25,075 |  |  | — |  |  | 25,075 |  |  | — |  |  | 25,075 |
Payable to Employees and Related Parties | 31,894 |  |  | — |  |  | 31,894 |  |  | — |  |  | 31,894 |
Notes Payable | 168,612 |  |  | — |  |  | 166,555 |  |  | — |  |  | 166,555 |
(1) | Includes Accounts Receivable and Long-term receivables included in Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.
(2) | Includes current and long-term contract assets included in Other Current Assets and Other Assets on the Unaudited Condensed Consolidated Statements of Financial Condition.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration