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Investment Securities and Certificates of Deposit | 3 Months Ended
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Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Investment Securities and Certificates of Deposit | Investment Securities and Certificates of DepositThe Company's Investment Securities and Certificates of Deposit as of March 31, 2021 and December 31, 2020 were as follows:
| March 31, 2021 |  | December 31, 2020
| Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt Securities | $ | 147,995 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 147,996 |  |  | $ | 402,824 |  |  | $ | 39 |  |  | $ | — |  |  | $ | 402,863 |
Equity Securities | 2,621 |  |  | 2,055 |  |  | — |  |  | 4,676 |  |  | 666 |  |  | — |  |  | 73 |  |  | 593 |
Debt Securities Carried by Broker-Dealers | 519,969 |  |  | 19 |  |  | 1 |  |  | 519,987 |  |  | 550,002 |  |  | 27 |  |  | 3 |  |  | 550,026 |
Investment Funds | 109,268 |  |  | 17,313 |  |  | — |  |  | 126,581 |  |  | 87,612 |  |  | 19,742 |  |  | — |  |  | 107,354 |
Total Investment Securities (carried at fair value) | $ | 779,853 |  |  | $ | 19,388 |  |  | $ | 1 |  |  | $ | 799,240 |  |  | $ | 1,041,104 |  |  | $ | 19,808 |  |  | $ | 76 |  |  | $ | 1,060,836 |
Certificates of Deposit (carried at contract value) |  | 73,877 |  |  |  |  |  |  |  |  | — |
Total Investment Securities and Certificates of Deposit |  | $ | 873,117 |  |  |  |  |  |  |  |  | $ | 1,060,836 |
Scheduled maturities of the Company's available-for-sale debt securities as of March 31, 2021 and December 31, 2020 were as follows:
| March 31, 2021 |  | December 31, 2020
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due within one year | $ | 147,995 |  |  | $ | 147,996 |  |  | $ | 402,824 |  |  | $ | 402,863 |
Total | $ | 147,995 |  |  | $ | 147,996 |  |  | $ | 402,824 |  |  | $ | 402,863 |
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. Further, the securities are all U.S. Treasuries, and the Company has not incurred credit losses on its securities. As such, the Company does not consider these securities to be impaired at March 31, 2021 and has not recorded a credit allowance on these securities. Debt Securities Debt Securities are classified as available-for-sale securities within Investment Securities and Certificates of Deposit 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 ($11) and ($4) for the three months ended March 31, 2021 and 2020, respectively. Equity Securities 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 $2,128 and ($334) for the three months ended March 31, 2021 and 2020, respectively. Debt Securities Carried by Broker-Dealers EGL and other broker-dealers invest in fixed income portfolios consisting primarily of U.S. Treasury bills, municipal bonds and other debt securities. At March 31, 2021 and December 31, 2020, this portfolio consisted solely of U.S. Treasury bills. 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 losses of ($5) and ($634) for the three months ended March 31, 2021 and 2020, respectively. Included in Investment Securities above at December 31, 2020, are $99,983 of U.S. Treasury bills purchased on December 31, 2020, which did not settle until January 4, 2021. As of December 31, 2020, the Company had a payable to the broker for securities purchased of $99,983 recorded in Other Current Liabilities on the Unaudited Condensed Consolidated Statement of Financial Condition. Investment Funds The Company invests in a portfolio of exchange-traded funds as an economic hedge against the Company's deferred cash compensation program. See Note 15 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 $6,228 and ($13,019) for the three months ended March 31, 2021 and 2020, respectively. The Company periodically enters into futures contracts as an economic hedge against the Company's deferred cash compensation program. See Note 16 for further information. Certificates of Deposit At March 31, 2021, the Company held certificates of deposit of $73,877 with certain banks with original maturities of four months or less when purchased.

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- 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
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