Marketable Securities

9 Months Ended

Sep. 30, 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 September 30, 2014 and December 31, 2013 were as follows:

	September 30, 2014								December 31, 2013
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	6,382	$	198	$	278	$	6,302	$	11,268	$	754	$	623	$	11,399
Debt Securities Carried by EGL	18,743		94		5		18,832		22,542		87		1		22,628
Mutual Funds	4,638		1,055		76		5,617		7,917		1,600		137		9,380
Total	$	29,763	$	1,347	$	359	$	30,751	$	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 September 30, 2014 and December 31, 2013 were as follows:

	September 30, 2014				December 31, 2013
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	204	$	205	$	306	$	307
Due after one year through five years	1,356		1,371		1,250		1,264
Due after five years through 10 years	100		102		100		100
Total	$	1,660	$	1,678	$	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 (losses) of $569 and $863for the three and nine months ended September 30, 2014, respectively, and ($7) and ($196)for the three and nine months ended September 30, 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 gains (losses) of ($197) and ($400)for the three and nine months ended September 30, 2014, respectively, and ($33) and ($166)for the three and nine months ended September 30, 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 (losses) of ($173) and $151for the three and nine months ended September 30, 2014, respectively, and $500 and $960for the three and nine months ended September 30, 2013, respectively.