10-Q Filing

MARCUS & MILLICHAP, INC. CIK: 1578732 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-451310`
Period End Date	20130930
Filing Date	20131122
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	mmi-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 52 Cash Flow Statement 76 Stockholders Equity 10

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$129.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$18.37M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Commissions receivable, net of allowance for doubtful accounts of $100 and $129 at September 30, 2013 and December 31, 2012, respectively	`CommissionsReceivableNet`	$4.31M	USD	Point-in-time
Commissions receivable, net of allowance for doubtful accounts of $100 and $129 at September 30, 2013 and December 31, 2012, respectively	`CommissionsReceivableNet`	$5.76M	USD	Point-in-time
Employee notes receivable	`DueFromEmployeesCurrent`	$156.00K	USD	Point-in-time
Employee notes receivable	`DueFromEmployeesCurrent`	$807.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$39.91M	USD	Point-in-time
Prepaid rent	`LeaseholdImprovementsForLeasedOffice`	$4.91M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Prepaid rent	`LeaseholdImprovementsForLeasedOffice`	$2.85M	USD	Point-in-time
Investments held in rabbi trust account	`DeferredCompensationPlanAssets`	$3.83M	USD	Point-in-time
Investments held in rabbi trust account	`DeferredCompensationPlanAssets`	$2.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $18,370 and $17,917 at September 30, 2013 and December 31, 2012, respectively	`PropertyPlantAndEquipmentNet`	$8.48M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	234,489.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $18,370 and $17,917 at September 30, 2013 and December 31, 2012, respectively	`PropertyPlantAndEquipmentNet`	$6.69M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	233,739.00	shares	Point-in-time
Due from affiliates	`DueFromAffiliateNoncurrent`	$60.39M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	233,739.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	234,489.00	shares	Point-in-time
Employee notes receivable	`DueFromEmployeesNoncurrent`	$350.00K	USD	Point-in-time
Employee notes receivable	`DueFromEmployeesNoncurrent`	$228.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.96M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.43M	USD	Point-in-time
Total assets	`Assets`	$89.73M	USD	Point-in-time
Total assets	`Assets`	$60.79M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.82M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.35M	USD	Point-in-time
Commissions payable	`AccruedSalesCommissionCurrent`	$12.10M	USD	Point-in-time
Commissions payable	`AccruedSalesCommissionCurrent`	$22.58M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$13.53M	USD	Point-in-time
Accrued employee expenses	`EmployeeRelatedLiabilitiesCurrent`	$10.21M	USD	Point-in-time
Accrued employee expenses	`EmployeeRelatedLiabilitiesCurrent`	$17.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$54.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.67M	USD	Point-in-time
Deferred compensation and commissions	`DeferredCompensationAndCommissionsNonCurrent`	$9.43M	USD	Point-in-time
Deferred compensation and commissions	`DeferredCompensationAndCommissionsNonCurrent`	$9.12M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$5.01M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$68.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.10M	USD	Point-in-time
Common stock, $1.00 par value: Authorized shares - 1,000,000; issued and outstanding shares - 234,489 and 233,739 at September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$235.00K	USD	Point-in-time
Common stock, $1.00 par value: Authorized shares - 1,000,000; issued and outstanding shares - 234,489 and 233,739 at September 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$234.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.72M	USD	Point-in-time
Stock notes receivable from employees	`StockNotesReceivableFromEmployees`	$150.00K	USD	Point-in-time
Stock notes receivable from employees	`StockNotesReceivableFromEmployees`	$13.00K	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.18M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$777.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.63M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$60.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$89.73M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$258.72M	USD	3 Qtrs
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$82.62M	USD	1 Quarter
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$216.03M	USD	3 Qtrs
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$101.76M	USD	1 Quarter
Financing fees	`FinancingFeesRevenue`	$18.67M	USD	3 Qtrs
Financing fees	`FinancingFeesRevenue`	$5.20M	USD	1 Quarter
Financing fees	`FinancingFeesRevenue`	$13.41M	USD	3 Qtrs
Financing fees	`FinancingFeesRevenue`	$6.78M	USD	1 Quarter
Other revenues	`FeesAndCommissionsOther`	$3.41M	USD	1 Quarter
Other revenues	`FeesAndCommissionsOther`	$3.41M	USD	1 Quarter
Other revenues	`FeesAndCommissionsOther`	$9.40M	USD	3 Qtrs
Other revenues	`FeesAndCommissionsOther`	$8.64M	USD	3 Qtrs
Total revenues	`Revenues`	$91.23M	USD	1 Quarter
Total revenues	`Revenues`	$111.95M	USD	1 Quarter
Total revenues	`Revenues`	$286.79M	USD	3 Qtrs
Total revenues	`Revenues`	$238.08M	USD	3 Qtrs
Cost of services	`CostOfServices`	$67.72M	USD	1 Quarter
Cost of services	`CostOfServices`	$138.90M	USD	3 Qtrs
Cost of services	`CostOfServices`	$54.19M	USD	1 Quarter
Cost of services	`CostOfServices`	$170.40M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$70.91M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$84.69M	USD	3 Qtrs
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$30.86M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$25.01M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$747.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.23M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.26M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$732.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$79.93M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$257.34M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$212.04M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$99.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.62M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.04M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$29.45M	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$324.00K	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$41.00K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$496.00K	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$247.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$29.95M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.36M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.34M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.87M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.47M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$13.03M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.90M	USD	3 Qtrs

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.90M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$732.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.26M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$2.23M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$747.00K	USD	1 Quarter
Provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$8.00K	USD	3 Qtrs
Provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$174.00K	USD	3 Qtrs
Stock-based compensation, net of taxes	`ShareBasedCompensationNetOfTax`	$2.23M	USD	3 Qtrs
Stock-based compensation, net of taxes	`ShareBasedCompensationNetOfTax`	$2.65M	USD	3 Qtrs
Other non-cash items	`OtherNoncashIncomeExpense`	$-16.00K	USD	3 Qtrs
Other non-cash items	`OtherNoncashIncomeExpense`	$-40.00K	USD	3 Qtrs
Commissions receivable	`IncreaseDecreaseInCommissionsReceivable`	$2.03M	USD	3 Qtrs
Commissions receivable	`IncreaseDecreaseInCommissionsReceivable`	$-1.48M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$267.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$709.00K	USD	3 Qtrs
Prepaid rent	`IncreaseDecreasePrepaidRentLeaseholdImprovements`	$-195.00K	USD	3 Qtrs
Prepaid rent	`IncreaseDecreasePrepaidRentLeaseholdImprovements`	$2.05M	USD	3 Qtrs
Investments in rabbi trust account	`IncreaseDecreaseInvestmentsInTrustAccount`	$442.00K	USD	3 Qtrs
Investments in rabbi trust account	`IncreaseDecreaseInvestmentsInTrustAccount`	$927.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-155.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-497.00K	USD	3 Qtrs
Due to (from) affiliates	`IncreaseDecreaseInDueToAffiliates`	$67.42M	USD	3 Qtrs
Due to (from) affiliates	`IncreaseDecreaseInDueToAffiliates`	$9.83M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.73M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-8.54M	USD	3 Qtrs
Commissions payable	`CommissionPayableIncreaseDecrease`	$-1.49M	USD	3 Qtrs
Commissions payable	`CommissionPayableIncreaseDecrease`	$-10.48M	USD	3 Qtrs
Accrued employee expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-441.00K	USD	3 Qtrs
Accrued employee expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.30M	USD	3 Qtrs
Deferred compensation and commissions	`DeferredCompensationAndCommissionsIncreaseDecrease`	$125.00K	USD	3 Qtrs
Deferred compensation and commissions	`DeferredCompensationAndCommissionsIncreaseDecrease`	$309.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$509.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.92M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.52M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$62.09M	USD	3 Qtrs
Payments on employee notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$1.12M	USD	3 Qtrs
Payments on employee notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$411.00K	USD	3 Qtrs
Issuances of employee notes receivable	`PaymentsToAcquireNotesReceivable`	$345.00K	USD	3 Qtrs
Issuances of employee notes receivable	`PaymentsToAcquireNotesReceivable`	$625.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.70M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.92M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$32.00K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.89M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.11M	USD	3 Qtrs
Payments on obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$32.00K	USD	3 Qtrs
Payments on obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$155.00K	USD	3 Qtrs
Dividends paid to MMC	`PaymentsOfDividends`	$31.18M	USD	3 Qtrs
Dividends paid to MMC	`PaymentsOfDividends`	$15.65M	USD	3 Qtrs
Repayment of stock notes receivable from employees	`RepaymentOfNotesReceivableFromRelatedParties`	$86.00K	USD	3 Qtrs
Repayment of stock notes receivable from employees	`RepaymentOfNotesReceivableFromRelatedParties`	$158.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.72M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.63M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.69M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$25.57M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Interest paid during the period	`InterestPaid`	$3.00K	USD	3 Qtrs
Interest paid during the period	`InterestPaid`	$1.00K	USD	3 Qtrs
Income taxes paid to MMC	`IncomeTaxPaid`	$19.69M	USD	3 Qtrs
Income taxes paid to MMC	`IncomeTaxPaid`	$12.06M	USD	3 Qtrs
Deferred offering costs included in accounts payable and other accrued expenses	`NonCashCapitalizedDeferredOfferingCosts`	$583.00K	USD	3 Qtrs
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$425.00K	USD	3 Qtrs
Issuance of restricted stock for notes receivable	`IssuanceOfRestrictedStockForNotesReceivable`	$21.00K	USD	3 Qtrs
Issuance of restricted stock for notes receivable	`IssuanceOfRestrictedStockForNotesReceivable`	$90.00K	USD	3 Qtrs
Deemed capital contribution from MMC	`NonCashDeemedCapitalContribution`	$2.65M	USD	3 Qtrs
Deemed capital contribution from MMC	`NonCashDeemedCapitalContribution`	$2.23M	USD	3 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$3.68M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$21.63M	USD	Point-in-time
Net income	`NetIncomeLoss`	$16.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.90M	USD	3 Qtrs
Deemed capital contribution from MMC	`DeemedCapitalContributionDistribution`	$2.65M	USD	3 Qtrs
Payments on stock notes receivable from employees	`PaymentsOnStockNotesReceivableFromEmployees`	$158.00K	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$3.68M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$21.63M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.