Marketable Securities

6 Months Ended

Jun. 30, 2015

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 June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015								December 31, 2014
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	6,396	$	6	$	3,145	$	3,257	$	6,354	$	11	$	2,173	$	4,192
Debt Securities Carried by EGL	26,371		56		14		26,413		28,014		80		3		28,091
Mutual Funds	2,213		317		36		2,494		4,765		1,053		116		5,702
Total	$	34,980	$	379	$	3,195	$	32,164	$	39,133	$	1,144	$	2,292	$	37,985

Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015				December 31, 2014
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	100	$	100	$	303	$	305
Due after one year through five years	1,574		1,576		1,229		1,236
Due after five years through 10 years	—		—		100		101
Total	$	1,674	$	1,676	$	1,632	$	1,642

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 June 30, 2015.

Securities Investments

Securities Investments include 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 ($12) and ($23)for the three and six months ended June 30, 2015, respectively, and $279 and $294for the three and six months ended June 30, 2014, 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 ($187) and ($310)for the three and six months ended June 30, 2015, respectively, and ($104) and ($203)for the three and six months ended June 30, 2014, 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 ($4) and $156for the three and six months ended June 30, 2015, respectively, and $212 and $324for the three and six months ended June 30, 2014, respectively.