10-Q Filing

MARCUS & MILLICHAP, INC. CIK: 1578732 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-199606`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mmi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 35 Cash Flow Statement 66 Stockholders Equity 10 Comprehensive Income 2

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$129.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$99.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$129.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$81.00K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.71M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.95M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$83.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.43M	USD	Point-in-time
Commissions receivable, net of allowance for doubtful accounts of $81 and $99 at March 31, 2014 and December 31, 2013, respectively	`CommissionsReceivableNet`	$4.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Commissions receivable, net of allowance for doubtful accounts of $81 and $99 at March 31, 2014 and December 31, 2013, respectively	`CommissionsReceivableNet`	$3.31M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Employee notes receivable	`DueFromEmployeesCurrent`	$229.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Employee notes receivable	`DueFromEmployeesCurrent`	$221.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.20M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetCurrent`	$7.49M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetCurrent`	$8.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$98.82M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	36.60M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	36.60M	shares	Point-in-time
Prepaid rent	`LeaseholdImprovementsForLeasedOffice`	$5.00M	USD	Point-in-time
Prepaid rent	`LeaseholdImprovementsForLeasedOffice`	$4.40M	USD	Point-in-time
Investments held in rabbi trust account	`DeferredCompensationPlanAssets`	$4.07M	USD	Point-in-time
Investments held in rabbi trust account	`DeferredCompensationPlanAssets`	$4.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	36.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	36.60M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $19,714 and $19,412 at March 31, 2014 and December 31, 2013, respectively	`PropertyPlantAndEquipmentNet`	$8.54M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $19,714 and $19,412 at March 31, 2014 and December 31, 2013, respectively	`PropertyPlantAndEquipmentNet`	$8.56M	USD	Point-in-time
Employee notes receivable	`DueFromEmployeesNoncurrent`	$189.00K	USD	Point-in-time
Employee notes receivable	`DueFromEmployeesNoncurrent`	$189.00K	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$27.04M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsNetNoncurrent`	$27.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.04M	USD	Point-in-time
Total assets	`Assets`	$167.31M	USD	Point-in-time
Total assets	`Assets`	$146.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.18M	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	$433.00K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	$506.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$6.46M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$3.30M	USD	Point-in-time
Notes payable to former stockholders	`OtherNotesPayableCurrent`	$851.00K	USD	Point-in-time
Notes payable to former stockholders	`OtherNotesPayableCurrent`	$891.00K	USD	Point-in-time
Commissions payable	`AccruedSalesCommissionCurrent`	$25.09M	USD	Point-in-time
Commissions payable	`AccruedSalesCommissionCurrent`	$11.36M	USD	Point-in-time
Accrued employee expenses	`EmployeeRelatedLiabilitiesCurrent`	$7.46M	USD	Point-in-time
Accrued employee expenses	`EmployeeRelatedLiabilitiesCurrent`	$16.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.62M	USD	Point-in-time
Deferred compensation and commissions	`DeferredCompensationAndCommissionsNonCurrent`	$32.18M	USD	Point-in-time
Deferred compensation and commissions	`DeferredCompensationAndCommissionsNonCurrent`	$29.01M	USD	Point-in-time
Notes payable to former stockholders	`OtherLongTermNotesPayable`	$11.46M	USD	Point-in-time
Notes payable to former stockholders	`OtherLongTermNotesPayable`	$11.50M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.37M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$104.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$76.12M	USD	Point-in-time
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at March 31, 2014 and December 31, 2013, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at March 31, 2014 and December 31, 2013, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common Stock $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 36,600,897 at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common Stock $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 36,600,897 at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$71.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$70.44M	USD	Point-in-time
Stock notes receivable from employees	`StockNotesReceivableFromEmployees`	$13.00K	USD	Point-in-time
Stock notes receivable from employees	`StockNotesReceivableFromEmployees`	$13.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.94M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$42.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$70.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$62.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$146.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$167.31M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$61.20M	USD	1 Quarter
Real estate brokerage commissions	`RealEstateBrokerageCommissions`	$104.75M	USD	1 Quarter
Financing fees	`FinancingFeesRevenue`	$6.10M	USD	1 Quarter
Financing fees	`FinancingFeesRevenue`	$5.01M	USD	1 Quarter
Other revenues	`FeesAndCommissionsOther`	$3.74M	USD	1 Quarter
Other revenues	`FeesAndCommissionsOther`	$3.16M	USD	1 Quarter
Total revenues	`Revenues`	$114.59M	USD	1 Quarter
Total revenues	`Revenues`	$69.37M	USD	1 Quarter
Cost of services	`CostOfServices`	$68.40M	USD	1 Quarter
Cost of services	`CostOfServices`	$41.22M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$33.36M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$24.73M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$760.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$775.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$102.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$66.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.06M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.66M	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-61.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$242.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$404.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.60M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.64M	USD	1 Quarter
Foreign currency translation gain, net of tax of $30 and $0 for the three months ended March 31, 2014 and 2013, respectively	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$42.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$42.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.82M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.64M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.85M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.91M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.64M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$760.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$775.00K	USD	1 Quarter
(Recoveries) provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$-4.00K	USD	1 Quarter
(Recoveries) provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$37.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$246.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$717.00K	USD	1 Quarter
Deferred taxes, net	`DeferredIncomeTaxExpenseBenefit`	$1.31M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$30.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-64.00K	USD	1 Quarter
Commissions receivable	`IncreaseDecreaseInCommissionsReceivable`	$-824.00K	USD	1 Quarter
Commissions receivable	`IncreaseDecreaseInCommissionsReceivable`	$-2.35M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.46M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-705.00K	USD	1 Quarter
Prepaid rent	`IncreaseDecreasePrepaidRentLeaseholdImprovements`	$-598.00K	USD	1 Quarter
Prepaid rent	`IncreaseDecreasePrepaidRentLeaseholdImprovements`	$1.14M	USD	1 Quarter
Investments in rabbi trust account	`IncreaseDecreaseInvestmentsInTrustAccount`	$67.00K	USD	1 Quarter
Investments in rabbi trust account	`IncreaseDecreaseInvestmentsInTrustAccount`	$162.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-91.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-189.00K	USD	1 Quarter
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-52.93M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.07M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.28M	USD	1 Quarter
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInDueToRelatedParties`	$-73.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-3.16M	USD	1 Quarter
Commissions payable	`CommissionPayableIncreaseDecrease`	$-13.73M	USD	1 Quarter
Commissions payable	`CommissionPayableIncreaseDecrease`	$-11.32M	USD	1 Quarter
Accrued employee expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$998.00K	USD	1 Quarter
Accrued employee expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.49M	USD	1 Quarter
Deferred compensation and commissions	`DeferredCompensationAndCommissionsIncreaseDecrease`	$-3.17M	USD	1 Quarter
Deferred compensation and commissions	`DeferredCompensationAndCommissionsIncreaseDecrease`	$-2.08M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-328.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-98.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.51M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.08M	USD	1 Quarter
Payments received on employee notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$150.00K	USD	1 Quarter
Payments received on employee notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$56.00K	USD	1 Quarter
Issuances of employee notes receivable	`PaymentsToAcquireNotesReceivable`	$48.00K	USD	1 Quarter
Issuances of employee notes receivable	`PaymentsToAcquireNotesReceivable`	$137.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.26M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$575.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$32.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-567.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.22M	USD	1 Quarter
Payments on obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$8.00K	USD	1 Quarter
Payments on obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$11.00K	USD	1 Quarter
Payments received of stock notes receivable from employees	`RepaymentOfNotesReceivableFromRelatedParties`	$45.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$34.33M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.65M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$83.30M	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`	$37.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$100.95M	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`	$83.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$100.95M	USD	Point-in-time
Interest paid during the period	`InterestPaid`	$1.00K	USD	1 Quarter
Income taxes paid (paid to Marcus & Millichap Company in 2013)	`IncomeTaxesPaid`	$6.69M	USD	1 Quarter
Income taxes paid (paid to Marcus & Millichap Company in 2013)	`IncomeTaxesPaid`	$11.64M	USD	1 Quarter
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$198.00K	USD	1 Quarter
Issuance of restricted stock for notes receivable	`IssuanceOfRestrictedStockForNotesReceivable`	$21.00K	USD	1 Quarter
Deemed capital contribution from Marcus & Millichap Company	`DeemedCapitalContributionDistribution`	$246.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation gain, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$30.00K	USD	1 Quarter
Foreign currency translation gain, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Beginning Balance	`StockholdersEquity`	$70.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$62.50M	USD	Point-in-time
Net income	`NetIncomeLoss`	$6.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.64M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$717.00K	USD	1 Quarter
Foreign currency translation gain, net of tax of $30	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$42.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$70.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$62.50M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation gain, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$30.00K	USD	1 Quarter
Foreign currency translation gain, tax	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter

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