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Investment Securities and Certificates of Deposit
 6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Investment Securities and Certificates of Deposit Investment Securities and Certificates of Deposit
The Company's Investment Securities and Certificates of Deposit as of June 30, 2022 and December 31, 2021 were as follows:
 June 30, 2022December 31, 2021
 CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Debt Securities$462,544 $346 $— $462,890 $706,826 $37 $16 $706,847 
Equity Securities558 — 147 411 666 193 — 859 
Debt Securities Carried by EGL389,290 570 — 389,860 784,813 43 14 784,842 
Investment Funds143,276 358 9,658 133,976 111,682 39,191 — 150,873 
Total Investment Securities (carried at fair value)$995,668 $1,274 $9,805 $987,137 $1,603,987 $39,464 $30 $1,643,421 
Certificates of Deposit (carried at contract value)148,563 141,218 
Total Investment Securities and Certificates of Deposit$1,135,700 $1,784,639 
Scheduled maturities of the Company's available-for-sale debt securities as of June 30, 2022 and December 31, 2021 were as follows:
 June 30, 2022December 31, 2021
 Amortized
Cost		Fair ValueAmortized
Cost		Fair Value
Due within one year$462,544 $462,890 $706,826 $706,847 
Total$462,544 $462,890 $706,826 $706,847 
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. Further, the securities are all U.S. Treasuries, and the Company has not incurred credit losses on its securities. As such, the Company does not consider these securities to be impaired at June 30, 2022 and has not recorded a credit allowance on these securities.
Debt Securities
Debt Securities are classified as available-for-sale securities within Investment Securities and Certificates of Deposit 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 ($34) for the six months ended June 30, 2022 and ($11) for the six months ended June 30, 2021.
Equity Securities
Equity Securities are carried at fair value with changes in fair value recorded in Other Revenue, Including Interest and Investments, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of ($459) and ($448) for the three and six months ended June 30, 2022, respectively, and ($267) and $1,860 for the three and six months ended June 30, 2021, respectively.
Debt Securities Carried by EGL
EGL invests in a fixed income portfolio consisting primarily of U.S. Treasury bills. These securities are carried at fair value, with changes in fair value recorded in Other Revenue, Including Interest and Investments, 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 $507 and $528 for the three and six months ended June 30, 2022, respectively, and ($4) and ($9) for the three and six months ended June 30, 2021, respectively.
Investment Funds
The Company invests in a portfolio of exchange-traded funds as an economic hedge against its deferred cash 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 and Investments, on the Unaudited Condensed Consolidated Statements of Operations. The Company had net realized and unrealized gains (losses) of ($26,353) and ($31,516) for the three and six months ended June 30, 2022, respectively, and $9,774 and $16,002 for the three and six months ended June 30, 2021, respectively.
Certificates of Deposit
At June 30, 2022 and December 31, 2021, the Company held certificates of deposit of $148,563 and $141,218, respectively, with certain banks with original maturities of four months or less when purchased.