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

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

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


	March 31, 2018								December 31, 2017
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets held in rabbi trust	$	8,756	$	—	$	8,756	$	—	$	8,787	$	—	$	8,787	$	—

Cash equivalents ⁽¹⁾:
Commercial paper	$	7,945	$	—	$	7,945	$	—	$	11,441	$	—	$	11,441	$	—
Money market funds		165,027		165,027		—		—		157,788		157,788		—		—

	$	172,972	$	165,027	$	7,945	$	—	$	169,229	$	157,788	$	11,441	$	—

Marketable securities, available-for-sale:
Short-term investments:
U.S. treasuries	$	72,173	$	72,173	$	—	$	—	$	57,624	$	57,624	$	—	$	—
U.S. government sponsored entities		10,501		—		10,501		—		7,008		—		7,008		—
Corporate debt securities		12,152		—		12,152		—		8,928		—		8,928		—

	$	94,826	$	72,173	$	22,653	$	—	$	73,560	$	57,624	$	15,936	$	—

Long-term investments:
U.S. treasuries	$	4,393	$	4,393	$	—	$	—	$	17,954	$	17,954	$	—	$	—
U.S. government sponsored entities		1,670		—		1,670		—		5,244		—		5,244		—
Corporate debt securities		23,056		—		23,056		—		22,719		—		22,719		—
Asset-backed securities and other		6,454		—		6,454		—		6,182		—		6,182		—

	$	35,573	$	4,393	$	31,180	$	—	$	52,099	$	17,954	$	34,145	$	—

⁽¹⁾	Included in cash and cash equivalents.