2018 Q4 Form 10-K Financial Statement

#000119312519059132 Filed on March 01, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $230.3M $210.6M $199.4M
YoY Change 13.57% 14.86% 10.55%
Cost Of Revenue $148.5M $132.9M $119.9M
YoY Change 12.71% 15.76% 8.6%
Gross Profit $81.81M $77.69M $79.53M
YoY Change 15.16% 13.36% 13.63%
Gross Profit Margin 35.53% 36.89% 39.89%
Selling, General & Admin $47.60M $48.66M $49.08M
YoY Change 12.53% 14.55% 12.33%
% of Gross Profit 58.18% 62.63% 61.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.800M $1.600M $1.500M
YoY Change 28.57% 14.29% 15.38%
% of Gross Profit 2.2% 2.06% 1.89%
Operating Expenses $49.30M $183.2M $170.5M
YoY Change 12.81% 15.47% 9.71%
Operating Profit $32.49M $27.38M $28.95M
YoY Change 18.56% 10.94% 15.81%
Interest Expense -$300.0K $342.0K $352.0K
YoY Change -25.0% -7.57% -5.88%
% of Operating Profit -0.92% 1.25% 1.22%
Other Income/Expense, Net $1.300M $2.127M $1.724M
YoY Change -18.75% 81.48% 72.92%
Pretax Income $33.40M $29.17M $30.32M
YoY Change 16.78% 14.46% 18.35%
Income Tax $7.200M $8.315M $8.155M
% Of Pretax Income 21.56% 28.51% 26.89%
Net Earnings $26.23M $20.85M $22.17M
YoY Change 209.26% 34.76% 42.38%
Net Earnings / Revenue 11.39% 9.9% 11.12%
Basic Earnings Per Share $0.67 $0.53 $0.57
Diluted Earnings Per Share $0.66 $0.53 $0.56
COMMON SHARES
Basic Shares Outstanding 38.65M shares 39.19M shares 39.15M shares
Diluted Shares Outstanding 39.48M shares 39.39M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.1M $301.7M $325.5M
YoY Change 19.63% 13.65% 37.83%
Cash & Equivalents $214.7M $181.0M $240.0M
Short-Term Investments $137.4M $120.7M $85.49M
Other Short-Term Assets $6.368M $7.572M $4.918M
YoY Change 15.17% 53.16% 12.95%
Inventory
Prepaid Expenses $7.904M $6.516M $7.654M
Receivables
Other Receivables
Total Short-Term Assets $371.3M $321.4M $344.9M
YoY Change 15.89% 14.58% 36.71%
LONG-TERM ASSETS
Property, Plant & Equipment $19.55M $18.17M $17.16M
YoY Change 13.97% 6.07% 0.5%
Goodwill $11.46M $4.186M $4.186M
YoY Change
Intangibles
YoY Change
Long-Term Investments $91.50M $94.30M $40.80M
YoY Change 50.25% 74.63% -31.66%
Other Assets $31.78M $32.57M $29.25M
YoY Change 37.19% 41.39% 36.24%
Total Long-Term Assets $195.0M $188.8M $129.2M
YoY Change 40.08% 31.93% -12.47%
TOTAL ASSETS
Total Short-Term Assets $371.3M $321.4M $344.9M
Total Long-Term Assets $195.0M $188.8M $129.2M
Total Assets $566.4M $510.1M $474.2M
YoY Change 23.22% 20.44% 18.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $47.90M $29.80M $34.10M
YoY Change -2.64% 1.02% 12.17%
Accrued Expenses $28.30M $23.10M $16.90M
YoY Change 18.91% 13.79% 15.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $1.100M $1.100M
YoY Change 10.0% 10.0% 10.0%
Total Short-Term Liabilities $92.86M $68.77M $60.60M
YoY Change 11.53% 13.34% 4.23%
LONG-TERM LIABILITIES
Long-Term Debt $6.600M $6.600M $6.600M
YoY Change -14.29% -14.29% -14.29%
Other Long-Term Liabilities $57.40M $52.10M $48.10M
YoY Change 6.49% 8.77% 8.09%
Total Long-Term Liabilities $64.00M $58.70M $54.70M
YoY Change 3.9% 5.58% 4.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $92.86M $68.77M $60.60M
Total Long-Term Liabilities $64.00M $58.70M $54.70M
Total Liabilities $156.8M $127.4M $115.3M
YoY Change 8.31% 9.64% 4.49%
SHAREHOLDERS EQUITY
Retained Earnings $311.3M $285.1M $264.3M
YoY Change 38.95% 32.25% 32.05%
Common Stock $97.46M $97.38M $94.30M
YoY Change 8.43% 7.41% 6.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $409.6M $382.7M $358.9M
YoY Change
Total Liabilities & Shareholders Equity $566.4M $510.1M $474.2M
YoY Change 23.22% 20.44% 18.56%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $26.23M $20.85M $22.17M
YoY Change 209.26% 34.76% 42.38%
Depreciation, Depletion And Amortization $1.800M $1.600M $1.500M
YoY Change 28.57% 14.29% 15.38%
Cash From Operating Activities $62.30M $32.00M $36.00M
YoY Change 51.21% 29.03% -4.26%
INVESTING ACTIVITIES
Capital Expenditures -$3.500M -$2.000M -$1.200M
YoY Change 118.75% 25.0% -40.0%
Acquisitions $6.216M
YoY Change
Other Investing Activities -$22.20M -$88.90M $6.600M
YoY Change -1109.09% 1920.45% -6700.0%
Cash From Investing Activities -$25.70M -$90.90M $5.400M
YoY Change -3771.43% 1415.0% -357.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.900M -100.0K -700.0K
YoY Change -23.68% 16.67%
NET CHANGE
Cash From Operating Activities 62.30M 32.00M 36.00M
Cash From Investing Activities -25.70M -90.90M 5.400M
Cash From Financing Activities -2.900M -100.0K -700.0K
Net Change In Cash 33.70M -59.00M 40.70M
YoY Change -11.55% -413.83% 16.62%
FREE CASH FLOW
Cash From Operating Activities $62.30M $32.00M $36.00M
Capital Expenditures -$3.500M -$2.000M -$1.200M
Free Cash Flow $65.80M $34.00M $37.20M
YoY Change 53.74% 28.79% -6.06%

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CY2018Q4 us-gaap Commitments And Contingencies
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CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38814464 shares
CY2018Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5500000 shares
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38814464 shares
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
4000
CY2018Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
0
CY2018Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
8268000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4989000
CY2018Q4 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
434000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
25000
CY2018Q4 us-gaap Deferred Tax Assets Other Comprehensive Loss
DeferredTaxAssetsOtherComprehensiveLoss
330000
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4086000
CY2018Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
6605000
CY2018Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
7893000
CY2018Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
5445000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
22959000
CY2018Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
22959000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2335000
CY2018Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
5600000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
30518000
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
27948000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1840000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
2570000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
114000
CY2018Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
1288000
CY2018Q4 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
11000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8912000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
1470000
CY2018Q4 us-gaap Due From Employees
DueFromEmployees
526000
CY2018Q4 us-gaap Escrow Deposit
EscrowDeposit
2100000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
18926000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
28338000
CY2018Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
311341000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-314000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
836000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
633000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
322000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
589000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
729000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
817000
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4240000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3926000
CY2018Q4 us-gaap Goodwill
Goodwill
11459000
CY2018Q4 us-gaap Goodwill Gross
GoodwillGross
11459000
CY2018Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
15385000
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
92856000
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
0
CY2018Q4 us-gaap Liabilities
Liabilities
156806000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
566380000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6564000
CY2018Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
60000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
10452000
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
6368000
CY2018Q4 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
6564000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
16833000
CY2018Q4 us-gaap Other Commitment
OtherCommitment
1000000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
87394000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
19287000
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
9400000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
31778000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
19649000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
8805000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
12368000
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7904000
CY2018Q4 us-gaap Principal Amount Outstanding On Loans Managed And Securitized
PrincipalAmountOutstandingOnLoansManagedAndSecuritized
1600000000
CY2018Q4 us-gaap Other Notes Payable
OtherNotesPayable
7651000
CY2018Q4 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
1087000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19550000
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Prepaid Rent
PrepaidRent
13892000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
27.59
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
5491161 shares
CY2018Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
2209000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
891575 shares
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
409574000
CY2018Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1246000
CY2018Q4 mmi Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Working Capital
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedWorkingCapital
100000
CY2018Q4 mmi Fair Value Assets Level1 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel3TransfersAmount
0
CY2018Q4 mmi Fair Value Assets Level3 To Level1 Transfers Amount
FairValueAssetsLevel3ToLevel1TransfersAmount
0
CY2018Q4 mmi Fair Value Assets Level2 To Level3 Transfers Amount
FairValueAssetsLevel2ToLevel3TransfersAmount
0
CY2018Q4 mmi Commissions Receivable Current
CommissionsReceivableCurrent
4948000
CY2018Q4 mmi Standby Letters Of Credit Amount Utilized
StandbyLettersOfCreditAmountUtilized
533000
CY2018Q4 mmi Fair Value Assets Level3 To Level2 Transfers Amount
FairValueAssetsLevel3ToLevel2TransfersAmount
0
CY2018Q4 mmi Standby Letters Of Credit Sublimit
StandbyLettersOfCreditSublimit
10000000
CY2018Q4 mmi Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
15699000
CY2018Q4 mmi Deferred Compensation And Commissions Non Current
DeferredCompensationAndCommissionsNonCurrent
49887000
CY2018Q4 mmi Stock Appreciation Rights Liability Current
StockAppreciationRightsLiabilityCurrent
1810000
CY2018Q4 mmi Deferred Compensation And Commissions Current
DeferredCompensationAndCommissionsCurrent
47910000
CY2018Q4 mmi Deferred Rent Credit Noncurrent And Other Noncurrent Obligations
DeferredRentCreditNoncurrentAndOtherNoncurrentObligations
7499000
CY2018Q4 mmi Stock Appreciation Rights Liability Noncurrent
StockAppreciationRightsLiabilityNoncurrent
19299000
CY2018Q4 mmi Stock Notes Receivable From Employees
StockNotesReceivableFromEmployees
4000
CY2018Q4 mmi Deferred Tax Assets Deferred Compensation
DeferredTaxAssetsDeferredCompensation
13337000
CY2018Q4 mmi Number Of Financial Institutions
NumberOfFinancialInstitutions
5 Financial_Institutions
CY2018Q4 mmi Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Mortgage Servicing Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedMortgageServicingNet
2000000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
31986 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
126712 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
10322 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
74058 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
15000 shares
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9145000
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
512000 shares
CY2017 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5451000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
824000
CY2017 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
9145000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2017 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
2000
CY2017 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
0
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
33415000
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
51654000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
28993000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.002 pure
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
34729000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
170000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3577000
CY2017 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
-572000
CY2017 us-gaap Interest Expense
InterestExpense
1496000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5883000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2017 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
446557000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
13249000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
12825000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-423000
CY2017 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5363000
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.481 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.026 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.036 pure
CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
CY2017 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2017 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
42242000
CY2017 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
0
CY2017 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99226000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47702000
CY2017 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
904000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
35002000
CY2017 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
4870000
CY2017 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1782000
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
13665000
CY2017 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1567000
CY2017 us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
2107000
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
112000 shares
CY2017 us-gaap Interest Paid Net
InterestPaidNet
1912000
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4590000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27338000
CY2017 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
2000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5784000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
66537000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
51524000
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
130000
CY2017 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-108000
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
193000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6554000
CY2017 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
481000
CY2017 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
44753000
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10000
CY2017 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
653000
CY2017 us-gaap Profit Loss
ProfitLoss
51524000
CY2017 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
986000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
219000
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
719700000
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
9145000
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
171648000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
37528 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
26.86
CY2017 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
0
CY2017 us-gaap Operating Expenses
OperatingExpenses
623568000
CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-63000
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
96132000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
25600000
CY2017 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
139000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
193000
CY2017 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
27000
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5451000
CY2017 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
65093000
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
264550 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
295597 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
21.21
CY2017 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
23.30
CY2017 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
5460000
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
CY2017 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
653000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39100000 shares
CY2017 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
875000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38988000 shares
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
170000
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
38142000 shares
CY2017 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
29000 shares
CY2017 mmi Increase Decrease In Income Taxes Receivable Payable
IncreaseDecreaseInIncomeTaxesReceivablePayable
126000
CY2017 mmi Increase Decrease In Commissions Receivable
IncreaseDecreaseInCommissionsReceivable
4777000
CY2017 mmi Net Change In Accounts Payable And Accrued Expenses Related To Property And Equipment Additions
NetChangeInAccountsPayableAndAccruedExpensesRelatedToPropertyAndEquipmentAdditions
359000
CY2017 mmi Tax Benefit From Stock Based Award Activity Included In Provision For Income Taxes
TaxBenefitFromStockBasedAwardActivityIncludedInProvisionForIncomeTaxes
2900000
CY2017 mmi Windfall Tax Benefits Net Of Shortfalls Related To Stockbased Compensation Amount
WindfallTaxBenefitsNetOfShortfallsRelatedToStockbasedCompensationAmount
-2568000
CY2017 mmi Deferred Compensation And Commissions Increase Decrease
DeferredCompensationAndCommissionsIncreaseDecrease
8427000
CY2017 mmi Stock Issued During Period Fair Value Of Shares Restricted Stock Units Before Tax Settlement
StockIssuedDuringPeriodFairValueOfSharesRestrictedStockUnitsBeforeTaxSettlement
0
CY2017 mmi Stock Issued During Period Fair Value Of Shares Deferred Stock Units Before Tax Settlement
StockIssuedDuringPeriodFairValueOfSharesDeferredStockUnitsBeforeTaxSettlement
0
CY2017 mmi Fully Depreciated Computer Software Hardware And Furniture Fixtures And Equipment Writeoff
FullyDepreciatedComputerSoftwareHardwareAndFurnitureFixturesAndEquipmentWriteoff
2900000
CY2017 mmi Increase Decrease Assets In Rabbi Trust Account
IncreaseDecreaseAssetsInRabbiTrustAccount
700000
CY2017 mmi Reduction Of Accrued Bonuses And Other Employee Related Expenses In Settlement Of Employee Notes Receivable
ReductionOfAccruedBonusesAndOtherEmployeeRelatedExpensesInSettlementOfEmployeeNotesReceivable
243000
CY2017 mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
849000
CY2017 mmi Increase Decrease In Deferred Rent Credit Noncurrent And Other Noncurrent Obligations
IncreaseDecreaseInDeferredRentCreditNoncurrentAndOtherNoncurrentObligations
660000
CY2017 mmi Tax Benefit From Stock Based Award Activity
TaxBenefitFromStockBasedAwardActivity
0
CY2017 mmi Allowance For Doubtful Accounts Receivable Write Offs Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsAdjustments
38000
CY2017 mmi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Transferred In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredInPeriod
0 shares
CY2017 mmi Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P2Y7M6D
CY2017 mmi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Transferred In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredInPeriodWeightedAverageGrantDateFairValue
25.70
CY2017 mmi Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActPercent
0.117 pure
CY2017 mmi Servicing Asset At Amortized Cost Additions Following Acquisition
ServicingAssetAtAmortizedCostAdditionsFollowingAcquisition
0
CY2017 mmi Income Tax Reconciliation Permanent And Other Items
IncomeTaxReconciliationPermanentAndOtherItems
180000
CY2017 mmi Contingent Consideration And Deferred Payments In Connection With Acquisitions
ContingentConsiderationAndDeferredPaymentsInConnectionWithAcquisitions
0
CY2017 mmi Tax Cuts And Jobs Act Of2017 Completed Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017CompletedAccountingProvisionalIncomeTaxExpenseBenefit
11644000
CY2017 mmi Income Tax Reconciliation Effect Of State And Foreign Rate Change On Deferred Taxes Amount
IncomeTaxReconciliationEffectOfStateAndForeignRateChangeOnDeferredTaxesAmount
-30000
CY2017 mmi Income Tax Reconciliation Effect Of State And Foreign Rate Change On Deferred Taxes Rate
IncomeTaxReconciliationEffectOfStateAndForeignRateChangeOnDeferredTaxesRate
0.000 pure
CY2017 mmi Effective Income Tax Rate Reconciliation Permanent And Other Items
EffectiveIncomeTaxRateReconciliationPermanentAndOtherItems
0.002 pure
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11983000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
137000 shares
CY2018 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5023000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
1100000
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
11983000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
314000
CY2018 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
12000
CY2018 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
2000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-36000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6004000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
24101000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Concentration of Credit Risk</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents, due from independent contractors (included under other assets, net current and other assets <font style="white-space:nowrap">non-current),</font> investments in marketable securities, <font style="white-space:nowrap"><font style="white-space:nowrap">available-for-sale,</font></font> security deposits (included under other assets, <font style="white-space:nowrap">non-current)</font> and commissions receivable. Cash and cash equivalents are placed with high-credit quality financial institutions and invested in high-credit quality money market funds and commercial paper. Concentrations of marketable securities, <font style="white-space:nowrap"><font style="white-space:nowrap">available-for-sale</font></font> are limited by the approved investment policy.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> To reduce its credit risk, the Company monitors the credit standing of the financial institutions money market funds that represent amounts in the Company&#x2019;s cash and cash equivalents. The Company historically has not experienced any significant losses related to cash and cash equivalents.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The Company derives its revenues from a broad range of real estate investors, owners, and users in the United States and Canada, none of which individually represents a significant concentration of credit risk. The Company requires collateral on a <font style="white-space:nowrap"><font style="white-space:nowrap">case-by-case</font></font> basis. The Company maintains allowances, as needed, for estimated credit losses based on management&#x2019;s assessment of the likelihood of collection. For the twelve months ended December&#xA0;31, 2018, 2017 and 2016, no transaction represented 10% or more of total revenues. Further, while one or more transactions may represent 10% or more of commissions receivable at any reporting date, amounts due are typically collected within 10 days of settlement and, therefore, do not expose the Company to significant credit risk.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> During the twelve months ended December&#xA0;31, 2018, 2017 and 2016, the Company&#x2019;s Canadian operations represented less than 1% of total revenues.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> During the twelve months ended December&#xA0;31, 2018, 2017 and 2016, no office represented 10% or more of total revenues.</p> </div>
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6103000
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
87105000
CY2018 dei Document Type
DocumentType
10-K
CY2018 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6297000
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.256 pure
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.22
CY2018 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
502883000
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-268000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-142000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
162000
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.006 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.013 pure
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0001578732
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.039 pure
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M23D
CY2018 dei Entity Registrant Name
EntityRegistrantName
Marcus & Millichap, Inc.
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Small Business
EntitySmallBusiness
false
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.23
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2018 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
23833000
CY2018 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-36000
CY2018 us-gaap Finite Lived Intangible Assets Amortization Method
FiniteLivedIntangibleAssetsAmortizationMethod
Straight-line
CY2018 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
4240000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
117220000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29963000
CY2018 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-306000
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
24311000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
24616000
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
7247000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
677000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4550000
CY2018 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company is not currently under income tax examination by any taxing authority.
CY2018 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
226000
CY2018 us-gaap Interest Expense
InterestExpense
1400000
CY2018 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
7009000
CY2018 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
4676000
CY2018 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-1757000
CY2018 us-gaap Increase Decrease In Prepaid Rent
IncreaseDecreaseInPrepaidRent
-1500000
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
234000 shares
CY2018 us-gaap Interest Paid Net
InterestPaidNet
2195000
CY2018 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Credit Facility will bear interest, at the Company's option, at either the (i) Base Rate (defined as the highest of (a) the Bank's prime rate, (b) the federal funds rate plus 1.5% and (c) one-monthLIBOR plus 1.5%), or (ii) at a variable rate between 0.875% and 1.125% above LIBOR, based upon the total funded debt to EBITDA ratio.
CY2018 us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
As of December 31, 2018, the Company was in compliance with all financial and non-financial covenants.
CY2018 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.001 pure
CY2018 us-gaap Line Of Credit Facility Initiation Date1
LineOfCreditFacilityInitiationDate1
2014-06-01
CY2018 us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
(i) an EBITDAR Coverage Ratio (as defined in the Credit Agreement) of not less than 1.251.0 as of each quarter end and (ii) total funded debt to EBITDA not greater than 2.01.0
CY2018 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2020-06-01
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
6333000
CY2018 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
4 Acquisition
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-117980000
CY2018 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
10000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5437000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
117314000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
87257000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-152000
CY2018 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
194000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-529000
CY2018 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1 Segment
CY2018 us-gaap Operating Expenses
OperatingExpenses
702529000
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
377000
CY2018 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
112287000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
27700000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-177000
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-7000
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-536000
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Certain prior-period amounts in Note 12 &#x2013; &#x201C;Income Taxes&#x201D; have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations or any totals or subtotals therein.</p> </div>
CY2018 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
18000
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5023000
CY2018 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
208460000
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
14926000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8072000
CY2018 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
451000
CY2018 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
113911000
CY2018 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
CY2018 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
621000
CY2018 us-gaap Property Plant And Equipment Depreciation Methods
PropertyPlantAndEquipmentDepreciationMethods
Straight-line
CY2018 us-gaap Profit Loss
ProfitLoss
87257000
CY2018 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1035000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
291000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
814816000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
11983000
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
193349000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
14634 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
34.94
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
22.31
CY2018 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
303000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
258078 shares
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
333724 shares
CY2018 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
2121000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
30.17
CY2018 dei Trading Symbol
TradingSymbol
MMI
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
6166000
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
677000
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
621000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1246000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39383000 shares
CY2018 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
542000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39149000 shares
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
167000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
38637000 shares
CY2018 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
30000 shares
CY2018 mmi Increase Decrease In Income Taxes Receivable Payable
IncreaseDecreaseInIncomeTaxesReceivablePayable
-5794000
CY2018 mmi Increase Decrease In Commissions Receivable
IncreaseDecreaseInCommissionsReceivable
-4783000
CY2018 mmi Net Change In Accounts Payable And Accrued Expenses Related To Property And Equipment Additions
NetChangeInAccountsPayableAndAccruedExpensesRelatedToPropertyAndEquipmentAdditions
-27000
CY2018 mmi Tax Benefit From Stock Based Award Activity Included In Provision For Income Taxes
TaxBenefitFromStockBasedAwardActivityIncludedInProvisionForIncomeTaxes
1900000
CY2018 mmi Windfall Tax Benefits Net Of Shortfalls Related To Stockbased Compensation Amount
WindfallTaxBenefitsNetOfShortfallsRelatedToStockbasedCompensationAmount
-1535000
CY2018 mmi Deferred Compensation And Commissions Increase Decrease
DeferredCompensationAndCommissionsIncreaseDecrease
-438000
CY2018 mmi Stock Issued During Period Fair Value Of Shares Restricted Stock Units Before Tax Settlement
StockIssuedDuringPeriodFairValueOfSharesRestrictedStockUnitsBeforeTaxSettlement
0
CY2018 mmi Stock Issued During Period Fair Value Of Shares Deferred Stock Units Before Tax Settlement
StockIssuedDuringPeriodFairValueOfSharesDeferredStockUnitsBeforeTaxSettlement
0
CY2018 mmi Fully Depreciated Computer Software Hardware And Furniture Fixtures And Equipment Writeoff
FullyDepreciatedComputerSoftwareHardwareAndFurnitureFixturesAndEquipmentWriteoff
1400000
CY2018 mmi Increase Decrease Assets In Rabbi Trust Account
IncreaseDecreaseAssetsInRabbiTrustAccount
0
CY2018 mmi Reduction Of Accrued Bonuses And Other Employee Related Expenses In Settlement Of Employee Notes Receivable
ReductionOfAccruedBonusesAndOtherEmployeeRelatedExpensesInSettlementOfEmployeeNotesReceivable
192000
CY2018 mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
-326000
CY2018 mmi Increase Decrease In Deferred Rent Credit Noncurrent And Other Noncurrent Obligations
IncreaseDecreaseInDeferredRentCreditNoncurrentAndOtherNoncurrentObligations
781000
CY2018 mmi Tax Benefit From Stock Based Award Activity
TaxBenefitFromStockBasedAwardActivity
0
CY2018 mmi Allowance For Doubtful Accounts Receivable Write Offs Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsAdjustments
271000
CY2018 mmi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Transferred In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredInPeriod
0 shares
CY2018 mmi Share Based Compensation Arrangement By Share Based Payment Award Share Reserve Increase Approved
ShareBasedCompensationArrangementByShareBasedPaymentAwardShareReserveIncreaseApproved
3300000 shares
CY2018 mmi Two Zero One Three Omnibus Equity Incentive Plan Amendment Shareholder Approval Date
TwoZeroOneThreeOmnibusEquityIncentivePlanAmendmentShareholderApprovalDate
2017-05
CY2018 mmi Date Entered Into Credit Agreement
DateEnteredIntoCreditAgreement
2014-06-18
CY2018 mmi Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2033
CY2018 mmi Number Of Office
NumberOfOffice
80 Office
CY2018 mmi Number Of Active Equity Plans
NumberOfActiveEquityPlans
1 Incentive_Plan
CY2018 mmi Commission Payable Payment Deferral Period
CommissionPayablePaymentDeferralPeriod
P3Y
CY2018 mmi Line Of Credit Libor Rate Duration Period
LineOfCreditLiborRateDurationPeriod
P1M
CY2018 mmi Period Of Settlement For Receivable Balances
PeriodOfSettlementForReceivableBalances
P10D
CY2018 mmi Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P1Y9M18D
CY2018 mmi Formation Date Of Incorporation
FormationDateOfIncorporation
2013-06
CY2018 mmi Defined Contribution New Plan Effective Date
DefinedContributionNewPlanEffectiveDate
2014-01
CY2018 mmi Two Zero One Three Omnibus Equity Incentive Plan Amendment Board Of Directors Approval Date
TwoZeroOneThreeOmnibusEquityIncentivePlanAmendmentBoardOfDirectorsApprovalDate
2017-02
CY2018 mmi Minimum Ebitdar Coverage Ratio
MinimumEbitdarCoverageRatio
0.0125 pure
CY2018 mmi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Transferred In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsTransferredInPeriodWeightedAverageGrantDateFairValue
30.69
CY2018 mmi Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActPercent
0.000 pure
CY2018 mmi Maximum Funded Debt To Ebitda Ratio
MaximumFundedDebtToEbitdaRatio
0.020 pure
CY2018 mmi Credit Facility Pledge Percentage
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