Marketable Securities

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

The amortized cost and estimated fair value of the Company’s Marketable Securities as of September 30, 2013 and December 31, 2012 were as follows:

	September 30, 2013								December 31, 2012
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	11,178	$	592	$	9	$	11,761	$	10,172	$	1,428	$	20	$	11,580
Debt Securities Carried by EGL	20,335		61		2		20,394		13,522		97		—		13,619
Mutual Funds	7,765		1,198		75		8,888		10,946		412		12		11,346
Total	$	39,278	$	1,851	$	86	$	41,043	$	34,640	$	1,937	$	32	$	36,545

Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of September 30, 2013 and December 31, 2012 were as follows:

	September 30, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	615	$	616	$	658	$	659
Due after one year through five years	799		810		1,415		1,437
Due after five years through 10 years	207		207		347		346
Total	$	1,621	$	1,633	$	2,420	$	2,442

Securities Investments

Securities Investments include seed capital and other equity and debt securities, which 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 gains (losses) of ($7) and ($196)for the three and nine months ended September 30, 2013, respectively, and ($11) and ($29)for the three and nine months ended September 30, 2012, respectively.

Debt Securities Carried by EGL

EGL invests in a fixed income portfolio consisting primarily of municipal bonds. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest, on the Unaudited Condensed Consolidated Statements of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized gains (losses) of ($33) and ($166)for the three and nine months ended September 30, 2013, respectively, and ($147) and ($553)for the three and nine months ended September 30, 2012, respectively.

Mutual Funds

The Company invests in a portfolio of mutual funds as an economic hedge against the Company’s deferred compensation program. See Note 14 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains of $500 and $960for the three and nine months ended September 30, 2013, respectively, and $494 and $948for the three and nine months ended September 30, 2012, respectively.