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

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

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


	June 30, 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	$	8,890	$	—	$	8,890	$	—	$	8,787	$	—	$	8,787	$	—


Cash equivalents ⁽¹⁾:
Commercial paper	$	14,824	$	—	$	14,824	$	—	$	11,441	$	—	$	11,441	$	—
Money market funds		186,412		186,412		—		—		157,788		157,788		—		—

	$	201,236	$	186,412	$	14,824	$	—	$	169,229	$	157,788	$	11,441	$	—


Marketable securities, available-for-sale:
Short-term investments:
U.S. treasuries	$	74,011	$	74,011	$	—	$	—	$	57,624	$	57,624	$	—	$	—
U.S. government sponsored entities		3,483		—		3,483		—		7,008		—		7,008		—
Corporate debt securities		7,892		—		7,892		—		8,928		—		8,928		—
Asset-backed securities and other		100		—		100		—		—		—		—		—

	$	85,486	$	74,011	$	11,475	$	—	$	73,560	$	57,624	$	15,936	$	—

Long-term investments:
U.S. treasuries	$	3,557	$	3,557	$	—	$	—	$	17,954	$	17,954	$	—	$	—
U.S. government sponsored entities		1,590		—		1,590		—		5,244		—		5,244		—
Corporate debt securities		20,101		—		20,101		—		22,719		—		22,719		—
Asset-backed securities and other		6,669		—		6,669		—		6,182		—		6,182		—

	$	31,917	$	3,557	$	28,360	$	—	$	52,099	$	17,954	$	34,145	$	—

⁽¹⁾	Included in cash and cash equivalents on the accompanying condensed consolidated balance sheet.