$MMI
Marcus & Millichap, Inc.

2023 Q3 Form 10-Q Financial Statement

#000157873223000030 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $162.0M $162.9M
YoY Change -49.97% -58.87%
Cost Of Revenue $104.6M $101.2M
YoY Change -51.88% -60.49%
Gross Profit $57.40M $61.70M
YoY Change -46.09% -55.9%
Gross Profit Margin 35.43% 37.89%
Selling, General & Admin $69.19M $68.91M
YoY Change -5.22% -13.69%
% of Gross Profit 120.54% 111.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.400M $3.468M
YoY Change 41.18% 92.67%
% of Gross Profit 4.18% 5.62%
Operating Expenses $177.5M $72.38M
YoY Change -39.49% -78.66%
Operating Profit -$15.43M -$10.68M
YoY Change -150.51% -118.81%
Interest Expense $241.0K -$216.0K
YoY Change 5.24% -236.71%
% of Operating Profit
Other Income/Expense, Net $4.422M $4.890M
YoY Change 352.15% -1160.74%
Pretax Income -$11.25M -$6.001M
YoY Change -135.94% -110.69%
Income Tax -$2.010M $2.728M
% Of Pretax Income
Net Earnings -$9.240M -$8.729M
YoY Change -143.25% -120.7%
Net Earnings / Revenue -5.7% -5.36%
Basic Earnings Per Share -$0.24 -$0.23
Diluted Earnings Per Share -$0.24 -$0.23
COMMON SHARES
Basic Shares Outstanding 38.46M shares 38.48M shares
Diluted Shares Outstanding 38.49M shares 38.54M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $340.9M $336.1M
YoY Change -29.37% -27.68%
Cash & Equivalents $224.2M $171.2M
Short-Term Investments $116.7M $164.9M
Other Short-Term Assets $14.80M $18.22M
YoY Change 148.09% 209.85%
Inventory
Prepaid Expenses $6.457M $8.872M
Receivables
Other Receivables
Total Short-Term Assets $389.9M $381.7M
YoY Change -24.41% -23.4%
LONG-TERM ASSETS
Property, Plant & Equipment $28.09M $131.2M
YoY Change 4.72% 417.81%
Goodwill $37.91M $38.05M
YoY Change -0.5% -0.14%
Intangibles
YoY Change
Long-Term Investments $80.60M $81.08M
YoY Change -18.21% -7.0%
Other Assets $9.662M $236.0M
YoY Change -36.31% 1638.52%
Total Long-Term Assets $492.3M $501.8M
YoY Change 1.68% 7.12%
TOTAL ASSETS
Total Short-Term Assets $389.9M $381.7M
Total Long-Term Assets $492.3M $501.8M
Total Assets $882.1M $883.5M
YoY Change -11.78% -8.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.200M $11.89M
YoY Change -10.13% -8.67%
Accrued Expenses $33.60M $28.93M
YoY Change -36.91% -41.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $103.4M $89.07M
YoY Change -29.52% -30.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.33M $130.5M
YoY Change -2.79% 1193.86%
Total Long-Term Liabilities $10.33M $130.5M
YoY Change -2.79% 1193.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.4M $89.07M
Total Long-Term Liabilities $10.33M $130.5M
Total Liabilities $232.8M $219.6M
YoY Change -15.64% -12.02%
SHAREHOLDERS EQUITY
Retained Earnings $507.0M $526.4M
YoY Change -15.45% -11.74%
Common Stock $145.2M $140.1M
YoY Change 13.3% 13.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $649.4M $663.9M
YoY Change
Total Liabilities & Shareholders Equity $882.1M $883.5M
YoY Change -11.78% -8.61%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$9.240M -$8.729M
YoY Change -143.25% -120.7%
Depreciation, Depletion And Amortization $2.400M $3.468M
YoY Change 41.18% 92.67%
Cash From Operating Activities $7.700M $6.432M
YoY Change -80.78% -59.02%
INVESTING ACTIVITIES
Capital Expenditures $2.200M $2.606M
YoY Change -162.11% -183.02%
Acquisitions
YoY Change
Other Investing Activities $48.60M -$32.38M
YoY Change 68.6% -46.41%
Cash From Investing Activities $46.30M -$34.98M
YoY Change 83.12% -44.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -900.0K -28.36M
YoY Change -84.68% -49.32%
NET CHANGE
Cash From Operating Activities 7.700M 6.432M
Cash From Investing Activities 46.30M -34.98M
Cash From Financing Activities -900.0K -28.36M
Net Change In Cash 53.10M -56.91M
YoY Change -10.72% -45.19%
FREE CASH FLOW
Cash From Operating Activities $7.700M $6.432M
Capital Expenditures $2.200M $2.606M
Free Cash Flow $5.500M $3.826M
YoY Change -87.39% -79.69%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
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CY2022Q1 us-gaap Stockholders Equity
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CY2022Q2 us-gaap Comprehensive Income Net Of Tax
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2022Q2 us-gaap Stock Issued During Period Value Acquisitions
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q4 us-gaap Stockholders Equity
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Dividends Common Stock
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Stock Issued During Period Value Acquisitions
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us-gaap Stock Repurchased And Retired During Period Value
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Dividends Common Stock
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Stock Issued During Period Value Acquisitions
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CY2022Q2 us-gaap Stockholders Equity
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us-gaap Profit Loss
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us-gaap Depreciation And Amortization
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mmi Noncash Lease Expense
NoncashLeaseExpense
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mmi Credit Loss Expense Reversal
CreditLossExpenseReversal
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us-gaap Share Based Compensation
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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mmi Increase Decrease In Commissions Receivable
IncreaseDecreaseInCommissionsReceivable
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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mmi Increase Decrease In Advances And Loans
IncreaseDecreaseInAdvancesAndLoans
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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mmi Increase Decrease In Income Taxes Receivable Payable
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mmi Increase Decrease In Income Taxes Receivable Payable
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us-gaap Increase Decrease In Employee Related Liabilities
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mmi Deferred Compensation And Commissions Increase Decrease
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us-gaap Increase Decrease In Operating Lease Liability
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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us-gaap Payments To Acquire Notes Receivable
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us-gaap Proceeds From Collection Of Notes Receivable
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Payments Of Dividends
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mmi Payments On Stock Appreciation Rights
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mmi Principal Payments On Deferred And Contingent Consideration
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Stock Issued During Period Value Acquisitions
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mmi Number Of Offices
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mmi Percentage Of Common Stock Distributed
PercentageOfCommonStockDistributed
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us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of condensed 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, the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash, cash equivalents, and restricted cash, investments in marketable debt securities, available-for-sale, security deposits (included under other assets, non-current) and commissions receivable, net. Cash, cash equivalents, and restricted cash are placed with high-credit quality financial institutions and invested in high-credit quality money market funds and commercial paper. Concentrations and ratings of marketable debt securities, available-for-sale are limited by the approved investment policy. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To reduce its credit risk, the Company monitors the credit standing of the financial institutions money market funds that represent amounts recorded as cash, cash equivalents, and restricted cash. The Company historically has not experienced any significant losses related to cash, cash equivalents, and restricted cash. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2021, the Company entered into a Strategic Alliance (“Strategic Alliance”) with M&amp;T Realty Capital Corporation (“MTRCC”) pursuant to which the Company has agreed to provide loan opportunities that may be funded through MTRCC’s Delegated Underwriting and Servicing Agreement (“DUS Agreement”) with the Federal National Mortgage Association (“Fannie Mae”) that requires MTRCC to guarantee a portion of each loan funded. On a loan-by-loan basis, the Company, at its option, can indemnify a portion of MTRCC’s guarantee obligation of loan opportunities presented to and closed by MTRCC through the DUS Agreement. The Company manages and limits the concentration of risk related to the guarantees assumed by monitoring the underlying property type, geographic location, credit of the borrowers, underlying debt service coverage, and loan to value ratios.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company derives its revenue 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 maintains allowances, as needed, for estimated credit losses based on management’s assessment of the likelihood of collection. For the three and six months ended June 30, 2023 and 2022, no transaction represented 10% or more of total revenue. 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. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2023, the Company’s Canadian operations represented 3.5% and 3.2% of total revenue, respectively. During both the three and six months ended June 30, 2022, the Company’s Canadian operations represented 2.2% of total revenue. </span></div>During each of the three and six months ended June 30, 2023 and 2022, no office represented 10% or more of total revenue.
mmi Period Of Settlement For Receivable Balances
PeriodOfSettlementForReceivableBalances
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us-gaap Guarantee Obligations Liquidation Proceeds Percentage
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us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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CY2022 mmi Available For Sale Securities Weighted Average Maturity
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us-gaap Number Of Reporting Units
NumberOfReportingUnits
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GoodwillGross
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CY2023Q2 us-gaap Goodwill
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CY2022Q4 us-gaap Goodwill Gross
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CY2022Q4 us-gaap Goodwill
Goodwill
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CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
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CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2023Q2 us-gaap Finite Lived Intangible Assets Net
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CY2023Q2 us-gaap Other Assets Current
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CY2022Q4 us-gaap Other Assets Current
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CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2022Q4 us-gaap Other Assets Noncurrent
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mmi Treasury Note Rate Term
TreasuryNoteRateTerm
P1Y
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FiniteLivedIntangibleAssetsGross
32287000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
14505000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17782000 usd
CY2023Q2 mmi Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
70467000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
16942000 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
53525000 usd
CY2022Q4 mmi Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
70201000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
14505000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
55696000 usd
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y6M
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
37914000 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
133000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
38047000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2275000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
4101000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
3880000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
2156000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
1855000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1211000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15478000 usd
CY2022Q4 mmi Advances And Loans And Commissions Receivable Allowance For Credit Loss
AdvancesAndLoansAndCommissionsReceivableAllowanceForCreditLoss
791000 usd
CY2023Q2 mmi Stock Appreciation Rights Liability Current
StockAppreciationRightsLiabilityCurrent
2480000 usd
CY2022Q4 mmi Stock Appreciation Rights Liability Current
StockAppreciationRightsLiabilityCurrent
2323000 usd
CY2023Q2 mmi Stock Appreciation Rights Liability Noncurrent
StockAppreciationRightsLiabilityNoncurrent
11037000 usd
CY2022Q4 mmi Stock Appreciation Rights Liability Noncurrent
StockAppreciationRightsLiabilityNoncurrent
13137000 usd
CY2023Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
40196000 usd
CY2022Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
72247000 usd
CY2023Q2 mmi Accrued Sales Commission Non Current
AccruedSalesCommissionNonCurrent
22647000 usd
CY2022Q4 mmi Accrued Sales Commission Non Current
AccruedSalesCommissionNonCurrent
45156000 usd
CY2023Q2 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
471000 usd
CY2022Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
493000 usd
CY2023Q2 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
7615000 usd
CY2022Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
6168000 usd
CY2023Q2 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
204000 usd
CY2022Q4 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
258000 usd
CY2023Q2 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
0 usd
CY2022Q4 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
0 usd
CY2023Q2 mmi Deferred Compensation And Commissions Current
DeferredCompensationAndCommissionsCurrent
43351000 usd
CY2022Q4 mmi Deferred Compensation And Commissions Current
DeferredCompensationAndCommissionsCurrent
75321000 usd
CY2023Q2 mmi Deferred Compensation And Commissions Non Current
DeferredCompensationAndCommissionsNonCurrent
41299000 usd
CY2022Q4 mmi Deferred Compensation And Commissions Non Current
DeferredCompensationAndCommissionsNonCurrent
64461000 usd
mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
930000 usd
mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
-1784000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
885000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
-1791000 usd
CY2022Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
6661000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2023Q2 mmi Deferred Consideration Liabilities Current
DeferredConsiderationLiabilitiesCurrent
1294000 usd
CY2022Q4 mmi Deferred Consideration Liabilities Current
DeferredConsiderationLiabilitiesCurrent
3633000 usd
CY2023Q2 mmi Deferred Consideration Liabilities Noncurrent
DeferredConsiderationLiabilitiesNoncurrent
724000 usd
CY2022Q4 mmi Deferred Consideration Liabilities Noncurrent
DeferredConsiderationLiabilitiesNoncurrent
1486000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
1513000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
1726000 usd
CY2023Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
5005000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
5341000 usd
CY2023Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
645000 usd
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
612000 usd
CY2023Q2 mmi Dividends Payable Non Current
DividendsPayableNonCurrent
1528000 usd
CY2022Q4 mmi Dividends Payable Non Current
DividendsPayableNonCurrent
1603000 usd
CY2023Q2 mmi Stock Repurchase Payable Current
StockRepurchasePayableCurrent
0 usd
CY2022Q4 mmi Stock Repurchase Payable Current
StockRepurchasePayableCurrent
565000 usd
CY2023Q2 mmi Stock Repurchase Payable Noncurrent
StockRepurchasePayableNoncurrent
0 usd
CY2022Q4 mmi Stock Repurchase Payable Noncurrent
StockRepurchasePayableNoncurrent
0 usd
CY2023Q2 mmi Loan Guarantee Obligation Current
LoanGuaranteeObligationCurrent
537000 usd
CY2023Q2 mmi Loan Guarantee Obligation Noncurrent
LoanGuaranteeObligationNoncurrent
2696000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
910000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
566000 usd
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4899000 usd
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10519000 usd
CY2022Q4 mmi Deferred Consideration Liabilities Current Noncurrent
DeferredConsiderationLiabilitiesCurrentNoncurrent
5119000 usd
CY2023Q2 mmi Business Combination Contingent Deferred Consideration Arrangements Range Of Outcomes Value High
BusinessCombinationContingentDeferredConsiderationArrangementsRangeOfOutcomesValueHigh
17300000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7779000 usd
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38460595 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38460595 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39255838 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
39255838 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
0 usd
CY2022Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
70000000 usd
CY2023Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
70000000 usd
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
1098561 shares
us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
34400000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
31.28
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
76000000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3401886 shares
CY2023Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
114700000 usd
CY2023Q2 mmi Maximum Unpaid Loan Amount For Which Guarantee Obligations Granted
MaximumUnpaidLoanAmountForWhichGuaranteeObligationsGranted
688100000 usd
CY2023Q2 mmi Guarantor Obligations Allowance For Loss Sharing Obligations
GuarantorObligationsAllowanceForLossSharingObligations
656000 usd
CY2022Q4 mmi Guarantor Obligations Allowance For Loss Sharing Obligations
GuarantorObligationsAllowanceForLossSharingObligations
275000 usd
CY2023Q2 mmi Guarantor Obligations Amount Pledged
GuarantorObligationsAmountPledged
102000 usd
CY2022Q4 mmi Guarantor Obligations Amount Pledged
GuarantorObligationsAmountPledged
16000 usd
CY2023Q2 us-gaap Other Commitment
OtherCommitment
10000000 usd
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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