Marketable Securities

3 Months Ended

Mar. 31, 2014

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 March 31, 2014 and December 31, 2013 were as follows:

	March 31, 2014								December 31, 2013
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	11,621	$	1,444	$	15	$	13,050	$	11,268	$	754	$	623	$	11,399
Debt Securities Carried by EGL	23,916		101		1		24,016		22,542		87		1		22,628
Mutual Funds	4,580		1,042		87		5,535		7,917		1,600		137		9,380
Total	$	40,117	$	2,587	$	103	$	42,601	$	41,727	$	2,441	$	761	$	43,407

Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of March 31, 2014 and December 31, 2013 were as follows:

	March 31, 2014				December 31, 2013
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	305	$	307	$	306	$	307
Due after one year through five years	1,250		1,262		1,250		1,264
Due after five years through 10 years	100		102		100		100
Total	$	1,655	$	1,671	$	1,656	$	1,671

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 of $15 and $97for the three months ended March 31, 2014 and 2013, 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 losses of ($99) and ($11)for the three months ended March 31, 2014 and 2013, 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 $112 and $597for the three months ended March 31, 2014 and 2013, respectively.