Marketable Securities

6 Months Ended

Jun. 30, 2016

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, 2016 and December 31, 2015 were as follows:

	June 30, 2016								December 31, 2015
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	6,482	$	21	$	3,322	$	3,181	$	6,463	$	10	$	2,523	$	3,950
Debt Securities Carried by EGL	40,402		166		5		40,563		37,404		94		8		37,490
Investment Funds	24,476		530		24		24,982		2,291		155		99		2,347
Total	$	71,360	$	717	$	3,351	$	68,726	$	46,158	$	259	$	2,630	$	43,787

Scheduled maturities of the Company’s available-for-sale debt securities within the Securities Investments portfolio as of June 30, 2016 and December 31, 2015 were as follows:

	June 30, 2016				December 31, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	101	$	101	$	204	$	204
Due after one year through five years	1,422		1,442		1,537		1,545
Due after five years through 10 years	237		238		—		—
Total	$	1,760	$	1,781	$	1,741	$	1,749

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, 2016.

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 losses of ($10) and ($21)for the three and six months ended June 30, 2016, respectively, and ($12) and ($23)for the three and six months ended June 30, 2015, 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 ($175) and ($339)for the three and six months ended June 30, 2016, respectively, and ($187) and ($310)for the three and six months ended June 30, 2015, respectively.

Investment Funds

The Company invests in a portfolio of exchange traded funds and 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 $534 and $525for the three and six months ended June 30, 2016, respectively, and ($4) and $156for the three and six months ended June 30, 2015, respectively.