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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2015
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Mar. 31, 2014
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| Cash flows from operating activities | ||
| Net income | $ 13,669us-gaap_NetIncomeLoss | $ 6,782us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash used in operating activities: | ||
| Depreciation and amortization expense | 780us-gaap_DepreciationAndAmortization | 775us-gaap_DepreciationAndAmortization |
| Provision for bad debt expense | 21us-gaap_ProvisionForDoubtfulAccounts | 11us-gaap_ProvisionForDoubtfulAccounts |
| Stock-based compensation | 1,907us-gaap_ShareBasedCompensation | 717us-gaap_ShareBasedCompensation |
| Deferred taxes, net | 1,306us-gaap_DeferredIncomeTaxExpenseBenefit | 1,314us-gaap_DeferredIncomeTaxExpenseBenefit |
| Net realized gains on marketable securities, available for sale | (74)us-gaap_MarketableSecuritiesRealizedGainLoss | |
| Tax benefit from stock-based award activity | 4,739mmi_TaxBenefitFromStockBasedAwardActivity | |
| Excess tax benefit from stock-based award activity | (4,739)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities | |
| Other non-cash items | 280us-gaap_OtherNoncashIncomeExpense | 79us-gaap_OtherNoncashIncomeExpense |
| Changes in operating assets and liabilities: | ||
| Commissions receivable | (1,179)mmi_IncreaseDecreaseInCommissionsReceivable | 942mmi_IncreaseDecreaseInCommissionsReceivable |
| Prepaid expenses | 3,349us-gaap_IncreaseDecreaseInPrepaidExpense | 784us-gaap_IncreaseDecreaseInPrepaidExpense |
| Prepaid rent | (68)us-gaap_IncreaseDecreaseInPrepaidRent | 598us-gaap_IncreaseDecreaseInPrepaidRent |
| Investments held in rabbi trust | (1,244)mmi_IncreaseDecreaseInvestmentsInTrustAccount | (12)mmi_IncreaseDecreaseInvestmentsInTrustAccount |
| Other assets | (1,694)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (122)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
| Accounts payable and accrued expenses | 850us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 1,071us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Accounts payable and accrued expenses - related party, net | 176us-gaap_IncreaseDecreaseInDueToRelatedParties | (73)us-gaap_IncreaseDecreaseInDueToRelatedParties |
| Income tax receivable | (3,045)mmi_IncreaseDecreaseInIncomeTaxesReceivablePayable | (3,163)mmi_IncreaseDecreaseInIncomeTaxesReceivablePayable |
| Commissions payable | (11,292)mmi_CommissionPayableIncreaseDecrease | (13,728)mmi_CommissionPayableIncreaseDecrease |
| Accrued bonuses and other employee related expenses | (19,042)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities | (9,487)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities |
| Deferred compensation and commissions | (2,625)mmi_DeferredCompensationAndCommissionsIncreaseDecrease | (3,236)mmi_DeferredCompensationAndCommissionsIncreaseDecrease |
| Other liabilities | (68)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities | (328)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities |
| Net cash used in operating activities | (17,993)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (17,076)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Cash flows from investing activities | ||
| Purchases of marketable securities, available for sale | (13,849)us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt | |
| Proceeds from sale of marketable securities, available for sale | 3,722us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt | |
| Payments received on employee notes receivable | 56us-gaap_ProceedsFromCollectionOfNotesReceivable | |
| Issuances of employee notes receivable | (48)us-gaap_PaymentsToAcquireNotesReceivable | (48)us-gaap_PaymentsToAcquireNotesReceivable |
| Purchase of property and equipment | (954)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (575)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Net cash used in investing activities | (11,129)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (567)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Cash flows from financing activities | ||
| Taxes paid related to net share settlement of stock-based awards | (716)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation | |
| Excess tax benefit from stock-based award activity | 4,739us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities | |
| Payments on obligations under capital leases | (11)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations | |
| Net cash provided by (used in) financing activities | 4,023us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | (11)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Net decrease in cash and cash equivalents | (25,099)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (17,654)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents at beginning of period | 149,159us-gaap_CashAndCashEquivalentsAtCarryingValue | 100,952us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents at end of period | 124,060us-gaap_CashAndCashEquivalentsAtCarryingValue | 83,298us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Supplemental disclosures of cash flow information | ||
| Interest paid during the period | 15us-gaap_InterestPaid | 1us-gaap_InterestPaid |
| Income taxes paid | 6,648us-gaap_IncomeTaxesPaid | 6,694us-gaap_IncomeTaxesPaid |
| Supplemental disclosures of noncash investing and financing activities | ||
| Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable | 208mmi_ReductionOfAccruedBonusesAndOtherEmployeeRelatedExpensesInSettlementOfEmployeeNotesReceivable | |
| Net change in accounts payable and accrued expenses related to property and equipment additions | $ 191us-gaap_CapitalExpendituresIncurredButNotYetPaid | $ 198us-gaap_CapitalExpendituresIncurredButNotYetPaid |
| X | ||||||||||
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- Definition
The increase (decrease) in commissions payable. No definition available.
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- Definition
The increase (decrease) during the reporting period related to the obligation created for deferred compensation arrangements related to rabbi trust, deferred commission payable and other commission related obligations and SARs liability. No definition available.
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- Definition
The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from commissions from buyers/sellers and current receivables from agents, associated with underlying transactions that are classified as operating activities. No definition available.
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- Definition
Increase (decrease) in income taxes (receivable) payable. No definition available.
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- Definition
The increase (decrease) in investments in rabbi trust account. No definition available.
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- Definition
Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable. No definition available.
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- Definition
Tax benefit from stock based award activity. No definition available.
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- Details
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- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families; affiliates; or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) of consideration paid in advance for rent that provides economic benefits in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the total realized gain (loss) included in earnings for the period as a result of selling marketable securities categorized as trading, available-for-sale, or held-to-maturity. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow to acquire debt securities classified as available-for-sale securities, because they are not classified as either held-to-maturity securities or trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow to acquire an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among myriad other features and characteristics. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the sale of debt securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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