Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 33,101 $ 16,922
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 2,399 2,261
Provision for bad debt expense (37) (29)
Stock-based compensation 3,275 2,655
Deferred taxes, net 1,481  
Other non-cash items 75 77
Changes in operating assets and liabilities:    
Commissions and other receivables (1,534) 1,484
Prepaid expenses and other current assets (271) (709)
Prepaid rent 932 (2,053)
Investments in rabbi trust (158) (927)
Other assets (935) 497
Due from affiliates   67,418
Accounts payable and accrued expenses 2,908 (8,537)
Accounts payable and accrued expenses - related party (334)  
Income tax payable (1,543)  
Commissions payable (7,891) (10,482)
Accrued bonuses and other employee related expenses 4,509 (7,303)
Deferred compensation and commissions 813 309
Other liabilities (1,882) 509
Net cash provided by operating activities 34,908 62,092
Cash flows from investing activities    
Payments received on employee notes receivable 68 1,119
Issuances of employee notes receivable (68) (345)
Purchase of property and equipment (1,830) (3,697)
Proceeds from sale of property and equipment 1 32
Net cash used in investing activities (1,829) (2,891)
Cash flows from financing activities    
Realized tax benefit of deductible IPO transaction costs 840  
Principal payments on notes payable to former stockholders (851)  
Payments on obligations under capital leases (16) (32)
Payments of initial public offering costs   (2,574)
Dividends paid to Marcus & Millichap Company   (31,181)
Payments received on stock notes receivable from employees 6 158
Net cash used in financing activities (21) (33,629)
Net increase in cash and cash equivalents 33,058 25,572
Cash and cash equivalents at beginning of period 100,952 3,107
Cash and cash equivalents at end of period 134,010 28,679
Supplemental disclosures of cash flow information    
Interest paid during the period 619 1
Income taxes paid (paid to former parent in 2013) 22,429 19,694
Supplemental disclosures of noncash investing and financing activities    
Distribution related to stock appreciation rights liability for taxes payable included in accrued bonuses and other employee related expenses 412  
Deferred offering costs included in in accounts payable and accrued expenses   583
Net change in accounts payable and accrued expenses related to property and equipment additions (86) 425
Issuance of restricted stock for notes receivable   21
Deemed capital contribution from Marcus & Millichap Company   2,655
Dividend Declared [Member]
    
Supplemental disclosures of noncash investing and financing activities    
Preferred dividends declared but not paid   $ 6,500