Marcus & Millichap, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Selected Balance Sheet Data (Tables)

Selected Balance Sheet Data (Tables)

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Other assets consisted of the following (in thousands):


	Current				Non-Current
	June 30,		December 31,		June 30,		December 31,
	2016		2015		2016		2015
Due from independent contractors, net ^{(1) (2)}	$	1,857	$	2,545	$	8,142	$	7,358
Security deposits		—		—		1,073		1,425
Employee notes receivable ⁽³⁾		364		224		112		158
Customer trust accounts and other		2,717		2,367		330		175

	$	4,938	$	5,136	$	9,657	$	9,116

⁽¹⁾	Represents amounts advanced, notes receivable and other receivables due from the Company’s investment sales and financing professionals. The notes receivable along with interest, are typically collected from future commissions and are generally due in one to five years.

⁽²⁾

Includes allowance for doubtful accounts related to current receivables of $297 and $359 as of June 30, 2016 and December 31, 2015, respectively. The Company recorded a (recovery) provision for bad debt expense of $(13) and $58 and wrote off $11 and $29 of these receivables for the three months ended June 30, 2016 and 2015, respectively. The Company recorded a provision for bad debt expense of $3 and $79 and wrote off $65 and $35 of these receivables for the six months ended June 30, 2016 and 2015, respectively.

⁽³⁾	See Note 6 – “Related-Party Transactions” for additional information.

Components of Deferred Compensation and Commissions

Deferred compensation and commissions consisted of the following (in thousands):


	June 30, 2016		December 31, 2015
SARs liability	$	21,856	$	21,399
Commissions payable to investment sales and financing professionals		10,010		17,015
Deferred compensation liability		6,714		5,264

	$	38,580	$	43,678

Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability

The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses consisted of the following (in thousands):


	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016		2015
Increase (decrease) in the carrying value of the assets held in the rabbi trust ⁽¹⁾	$	150	$	(104	)	$	184	$	11

Increase (decrease) in the carrying value of the deferred compensation obligation ⁽²⁾	$	151	$	(94	)	$	188	$	59

⁽¹⁾	Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income.

⁽²⁾	Recorded in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income.