Marketable Securities

12 Months Ended

Dec. 31, 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 December 31, 2013 and 2012 were as follows:

	December 31, 2013								December 31, 2012
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	11,268	$	754	$	623	$	11,399	$	10,172	$	1,428	$	20	$	11,580
Debt Securities Carried by EGL	22,542		87		1		22,628		13,522		97		—		13,619
Mutual Funds	7,917		1,600		137		9,380		10,946		412		12		11,346
Total	$	41,727	$	2,441	$	761	$	43,407	$	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 December 31, 2013 and 2012 were as follows:

	December 31, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	306	$	307	$	658	$	659
Due after one year through five years	1,250		1,264		1,415		1,437
Due after five years through 10 years	100		100		347		346
Total	$	1,656	$	1,671	$	2,420	$	2,442

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 December 31, 2013.

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 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 ($45), ($85) and $936for the years ended December 31, 2013, 2012 and 2011, 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 Consolidated Statements of Operations, as required for broker-dealers in securities. The Company had net realized and unrealized gains (losses) of ($234), ($674) and ($460)for the years ended December 31, 2013, 2012 and 2011, 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 17 for further information. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest, on the Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of $1,344, $1,025 and ($412)for the years ended December 31, 2013, 2012 and 2011, respectively.