Marketable Securities and Certificates of Deposit

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Marketable Securities and Certificates of Deposit

Marketable Securities and Certificates of Deposit

The amortized cost and estimated fair value of the Company's Marketable Securities as of September 30, 2017 and December 31, 2016 were as follows:

	September 30, 2017								December 31, 2016
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Investments	$	7,098	$	6	$	4,069	$	3,035	$	6,470	$	—	$	3,945	$	2,525
Debt Securities Carried by EGL	22,806		87		1		22,892		38,392		77		15		38,454
Investment Funds	22,307		4,167		66		26,408		23,665		1,854		11		25,508
Total	$	52,211	$	4,260	$	4,136	$	52,335	$	68,527	$	1,931	$	3,971	$	66,487

Scheduled maturities of the Company's available-for-sale debt securities within the Securities Investments portfolio as of September 30, 2017 and December 31, 2016 were as follows:

	September 30, 2017				December 31, 2016
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	101	$	101	$	—	$	—
Due after one year through five years	1,609		1,613		1,748		1,728
Total	$	1,710	$	1,714	$	1,748	$	1,728

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 September 30, 2017.

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 ($26) for the nine months ended September 30, 2017, respectively, and ($12) and ($33)for the three and nine months ended September 30, 2016, 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 ($340) and ($707)for the three and nine months ended September 30, 2017, respectively, and ($341) and ($680)for the three and nine months ended September 30, 2016, 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 of $1,013 and $2,570for the three and nine months ended September 30, 2017, respectively, and $707 and $1,232for the three and nine months ended September 30, 2016, respectively.

Certificates of Deposit

At September 30, 2017 the Company held certificates of deposit of $63,417 with certain banks with original maturities of six months or less when purchased.