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

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Assets carried at fair value are categorized into one of the three categories described above and consisted of the following (in thousands):


	June 30, 2017								December 31, 2016
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets held in rabbi trust	$	8,380	$	—	$	8,380	$	—	$	7,337	$	—	$	7,337	$	—

Cash equivalents ⁽¹⁾:
Commercial paper	$	13,936	$	—	$	13,936	$	—	$	9,987	$	—	$	9,987	$	—
Money market funds		124,502		124,502		—		—		142,503		142,503		—		—

	$	138,438	$	124,502	$	13,936	$	—	$	152,490	$	142,503	$	9,987	$	—

Marketable securities, available-for-sale:
Short-term investments:
U.S. treasuries	$	58,903	$	58,903	$	—	$	—	$	24,957	$	24,957	$	—	$	—
U.S. government sponsored entities		7,004		—		7,004		—		2,497		—		2,497		—
Corporate debt securities		6,426		—		6,426		—		—		—		—		—

	$	72,333	$	58,903	$	13,430	$	—	$	27,454	$	24,957	$	2,497	$	—

Long-term investments:
U.S. treasuries	$	16,235	$	16,235	$	—	$	—	$	40,636	$	40,636	$	—	$	—
U.S. government sponsored entities		5,402		—		5,402		—		12,560		—		12,560		—
Corporate debt securities		22,774		—		22,774		—		17,750		—		17,750		—
Asset-backed securities and other		6,914		—		6,914		—		6,529		—		6,529		—

	$	51,325	$	16,235	$	35,090	$	—	$	77,475	$	40,636	$	36,839	$	—

⁽¹⁾	Included in cash and cash equivalents.