XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.19.1

Marketable Securities and Certificates of Deposit | 3 Months Ended
--- | ---
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities and Certificates of Deposit | Marketable Securities and Certificates of Deposit The amortized cost and estimated fair value of the Company's Marketable Securities as of March 31, 2019 and December 31, 2018 were as follows:
| March 31, 2019 |  | December 31, 2018
| Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities Investments - Debt Securities | $ | 1,836 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 1,858 |  |  | $ | 1,622 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 1,632 |
Securities Investments - Equity Securities | 666 |  |  | — |  |  | 259 |  |  | 407 |  |  | 666 |  |  | — |  |  | 410 |  |  | 256 |
Debt Securities Carried by EGL | 145,349 |  |  | 1,055 |  |  | 2 |  |  | 146,402 |  |  | 147,009 |  |  | 954 |  |  | — |  |  | 147,963 |
Investment Funds | 62,906 |  |  | 2,056 |  |  | 146 |  |  | 64,816 |  |  | 56,296 |  |  | 402 |  |  | 1,922 |  |  | 54,776 |
Total | $ | 210,757 |  |  | $ | 3,133 |  |  | $ | 407 |  |  | $ | 213,483 |  |  | $ | 205,593 |  |  | $ | 1,366 |  |  | $ | 2,332 |  |  | $ | 204,627 |
Scheduled maturities of the Company's available-for-sale debt securities within the Securities Investments portfolio as of March 31, 2019 and December 31, 2018 were as follows:
| March 31, 2019 |  | December 31, 2018
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within one year | $ | 489 |  |  | $ | 490 |  |  | $ | 391 |  |  | $ | 391 |
Due after one year through five years | 1,347 |  |  | 1,368 |  |  | 1,231 |  |  | 1,241 |
Total | $ | 1,836 |  |  | $ | 1,858 |  |  | $ | 1,622 |  |  | $ | 1,632 |
Since the Company has the ability and intent to hold available-for-sale securities until a recovery of fair value is equal to an amount approximating its amortized cost, which may be at maturity, and has not incurred credit losses on its securities, it does not consider such unrealized loss positions to be other-than-temporarily impaired at March 31, 2019. Securities Investments - Debt Securities Securities Investments - Debt Securities are classified as available-for-sale securities within Marketable Securities on the Unaudited Condensed Consolidated Statements of Financial Condition. These securities are stated at fair value with unrealized gains and losses included in Accumulated Other Comprehensive Income (Loss) and realized gains and losses included in earnings. The Company had net realized losses of ($3) and ($13) for the three months ended March 31, 2019 and 2018, respectively. Securities Investments - Equity Securities Securities Investments - Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of $152 and ($11) for the three months ended March 31, 2019 and 2018, respectively. Debt Securities Carried by EGL EGL invests in a fixed income portfolio consisting primarily of U.S. Treasury bills and municipal bonds. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized gains of $49 and $101 for the three months ended March 31, 2019 and 2018, respectively. Investment Funds The Company invests in a portfolio of exchange-traded funds and mutual funds as an economic hedge against the Company's deferred cash compensation program. See Note 16 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of $6,587 and ($188) for the three months ended March 31, 2019 and 2018, respectively. Futures In April 2019, the Company entered into three month futures contracts on a stock index fund with a notional amount of $14,815 for $680, as an economic hedge against the Company's deferred cash compensation program. In accordance with ASC 815, "Derivatives and Hedging," ("ASC 815") these contracts are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. Certificates of Deposit At December 31, 2018, the Company held certificates of deposit of $100,000 with certain banks with original maturities of six months or less when purchased. These certificates of deposit matured during the first quarter of 2019.

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

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration