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

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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


	September 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	$	8,545	$	—	$	8,545	$	—	$	7,337	$	—	$	7,337	$	—

Cash equivalents ⁽¹⁾:
Commercial paper	$	9,947	$	—	$	9,947	$	—	$	9,987	$	—	$	9,987	$	—
Money market funds		131,956		131,956		—		—		142,503		142,503		—		—

	$	141,903	$	131,956	$	9,947	$	—	$	152,490	$	142,503	$	9,987	$	—

Marketable securities, available-for-sale:
Short-term investments:
U.S. treasuries	$	65,365	$	65,365	$	—	$	—	$	24,957	$	24,957	$	—	$	—
U.S. government sponsored entities		7,026		—		7,026		—		2,497		—		2,497		—
Corporate debt securities		10,422		—		10,422		—		—		—		—		—

	$	82,813	$	65,365	$	17,448	$	—	$	27,454	$	24,957	$	2,497	$	—

Long-term investments:
U.S. treasuries	$	9,975	$	9,975	$	—	$	—	$	40,636	$	40,636	$	—	$	—
U.S. government sponsored entities		5,327		—		5,327		—		12,560		—		12,560		—
Corporate debt securities		22,832		—		22,832		—		17,750		—		17,750		—
Asset-backed securities and other		7,310		—		7,310		—		6,529		—		6,529		—

	$	45,444	$	9,975	$	35,469	$	—	$	77,475	$	40,636	$	36,839	$	—

⁽¹⁾	Included in cash and cash equivalents.