Marcus & Millichap (MMI) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	MMI
Entity Registrant Name	Marcus & Millichap, Inc.
Entity Central Index Key	1,578,732
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		38,581,859

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 199,370	$ 220,786
Commissions receivable	2,851	9,586
Prepaid expenses	7,432	9,661
Income tax receivable	0	1,308
Marketable securities, available-for-sale	94,826	73,560
Other assets, net	4,624	5,529
Total current assets	309,103	320,430
Prepaid rent	15,193	15,392
Property and equipment, net	17,097	17,153
Marketable securities, available-for-sale	35,573	52,099
Assets held in rabbi trust	8,756	8,787
Deferred tax assets, net	21,054	22,640
Other assets	26,191	23,163
Total assets	432,967	459,664
Current liabilities:
Accounts payable and accrued expenses	6,482	9,202
Notes payable to former stockholders	1,035	1,035
Deferred compensation and commissions	26,913	49,180
Income tax payable	3,131
Accrued bonuses and other employee related expenses	10,741	23,842
Total current liabilities	48,302	83,259
Deferred compensation and commissions	38,969	49,361
Notes payable to former stockholders	7,651	7,651
Deferred rent and other liabilities	4,636	4,505
Total liabilities	99,558	144,776
Commitments and contingencies	0	0
Stockholders' equity:
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at March 31, 2018 and December 31, 2017, respectively	0	0
Common stock, $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 38,578,834 and 38,374,011 at March 31, 2018 and December 31, 2017, respectively	4	4
Additional paid-in capital	90,840	89,877
Stock notes receivable from employees	(4)	(4)
Retained earnings	242,095	224,071
Accumulated other comprehensive income	474	940
Total stockholders' equity	333,409	314,888
Total liabilities and stockholders' equity	$ 432,967	$ 459,664

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	38,578,834	38,374,011
Common stock, shares outstanding	38,578,834	38,374,011

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Real estate brokerage commissions	$ 162,525	$ 140,137
Financing fees	9,724	10,054
Other revenues	2,292	3,021
Total revenues	174,541	153,212
Operating expenses:
Cost of services	101,649	89,647
Selling, general, and administrative expense	48,053	43,220
Depreciation and amortization expense	1,375	1,297
Total operating expenses	151,077	134,164
Operating income	23,464	19,048
Other income (expense), net	1,209	836
Interest expense	(360)	(382)
Income before provision for income taxes	24,313	19,502
Provision for income taxes	6,302	7,502
Net income	18,011	12,000
Other comprehensive (loss) income:
Unrealized (losses) gains on marketable securities, net of tax of $(164) and $65 for the three months ended March 31, 2018 and 2017, respectively	(492)	47
Foreign currency translation gain (loss), net of tax of $0 for each of the three months ended March 31, 2018 and 2017	39	(2)
Total other comprehensive (loss) income	(453)	45
Comprehensive income	$ 17,558	$ 12,045
Earnings per share:
Basic	$ 0.46	$ 0.31
Diluted	$ 0.46	$ 0.31
Weighted average common shares outstanding:
Basic	39,095	38,948
Diluted	39,250	39,108

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Unrealized gains (losses) on marketable securities, tax	$ (164)	$ 65
Foreign currency translation gain (loss), tax	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Stock Notes Receivable From Employees [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]
Beginning Balance at Dec. 31, 2017	$ 314,888	$ 0	$ 4	$ 89,877	$ (4)	$ 224,071	$ 940
Beginning Balance, Shares at Dec. 31, 2017		0	38,374,011
Balance as adjusted at Dec. 31, 2017	314,888	$ 0	$ 4	89,877	(4)	224,084	927
Balance as adjusted, Shares at Dec. 31, 2017		0	38,374,011
Net and comprehensive income	17,558	$ 0	$ 0	0	0	18,011	(453)
Stock-based compensation	2,613	$ 0	$ 0	2,613	0	0	0
Stock-based compensation, Shares		0	0
Issuance of common stock for vesting of restricted stock units	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for vesting of restricted stock units, Shares		0	252,930
Shares withheld related to net share settlement of stock-based awards, units	(1,650)	$ 0	$ 0	(1,650)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(48,107)
Ending Balance at Mar. 31, 2018	333,409	$ 0	$ 4	90,840	(4)	242,095	474
Ending Balance, Shares at Mar. 31, 2018		0	38,578,834
Cumulative effect of a change in accounting principle	$ 0	$ 0	$ 0	$ 0	$ 0	$ 13	$ (13)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net income	$ 18,011	$ 12,000
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expense	1,375	1,297
(Recovery) provision for bad debt expense	(106)	(44)
Stock-based compensation	2,613	1,866
Deferred taxes, net	1,750	1,179
Other non-cash items	55	(8)
Changes in operating assets and liabilities:
Commissions receivable	6,735	1,500
Prepaid expenses	2,229	1,608
Prepaid rent	199	(1,315)
Other assets	(2,109)	(8,728)
Accounts payable and accrued expenses	(2,682)	(1,381)
Income tax receivable (payable)	4,439	(3,495)
Accrued bonuses and other employee related expenses	(12,970)	(14,113)
Deferred compensation and commissions	(32,659)	(28,106)
Deferred rent obligation and other liabilities	131	654
Net cash used in operating activities	(12,989)	(37,086)
Cash flows from investing activities
Purchases of marketable securities, available-for-sale	(35,360)	(23,014)
Proceeds from sales and maturities of marketable securities, available-for-sale	30,067	4,741
Issuances of employee notes receivable	(125)	(265)
Payments received on employee notes receivable	3	3
Proceeds from sale of property and equipment	0	10
Purchase of property and equipment	(1,362)	(1,367)
Net cash used in investing activities	(6,777)	(19,892)
Cash flows from financing activities
Taxes paid related to net share settlement of stock-based awards	(1,650)	(1,361)
Net cash used in financing activities	(1,650)	(1,361)
Net decrease in cash and cash equivalents	(21,416)	(58,339)
Cash and cash equivalents at beginning of period	220,786	187,371
Cash and cash equivalents at end of period	199,370	129,032
Supplemental disclosures of cash flow information
Interest paid during the period	1,553	15
Income taxes paid, net	113	9,818
Supplemental disclosures of noncash investing and financing activities
Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable	131	235
Change in property and equipment included in accounts payable and accrued expenses	$ (38)	$ (142)

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Description of Business Marcus & Millichap, Inc., (the “Company”, “Marcus & Millichap”, or “MMI”), a Delaware corporation, is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of March 31, 2018, MMI operates 78 offices in the United States and Canada through its wholly-owned subsidiary, Marcus & Millichap Real Estate Investment Services, Inc. (“MMREIS”), which includes the operations of Marcus & Millichap Capital Corporation (“MMCC”). Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for Marcus & Millichap Company (“MMC”) to spin-off (“Spin-Off”). Basis of Presentation The financial information presented in the accompanying unaudited condensed consolidated financial statements, has been prepared in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q Article 10-01 Regulation S-X. 10-K Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. 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 and the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Accounting Policies and Recent

Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Accounting Policies and Recent Accounting Pronouncements	2. Accounting Policies and Recent Accounting Pronouncements Accounting Policies The complete list of the Company’s accounting policies is included in the Company’s Annual Report on Form 10-K Revenue Recognition The Company generates real estate brokerage commissions by acting as a broker for real estate owners or investors seeking to buy or sell commercial properties. The Company generates financing fees from securing financing on purchase transactions as well as fees earned from refinancing its clients’ existing mortgage debt and other financing activities. Other revenues include fees generated from consulting and advisory services, as well as referral fees from other real estate brokers. The Company’s contracts contain one performance obligation related to its real estate brokerage, financing and consulting and advisory services offered to buyers and sellers of commercial real estate and provide that it is operating as a principal in all its revenue generating activities. The Company does not have multiple-element arrangements, variable consideration, financing components, significant noncash consideration, licenses, long-term contracts with customers or other items affecting the transaction price. Accordingly, the Company determined that the transaction price is generally fixed and determinable and collectability is reasonably assured. The Company recognizes revenue in principally all cases at the close of escrow for real estate brokerage, close of loan for financing and when services are provided upon closing of the transaction for other revenues. Capitalization of Internal Labor Certain costs related to the development or purchases of internal-use Concentration of Credit Risk 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 non-current available-for-sale, non-current available-for-sale To reduce its credit risk, the Company monitors the credit standing of the financial institutions that hold the Company’s cash and cash equivalents. The Company historically has not experienced any significant losses related to cash and cash equivalents. 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 case-by-case During the three months ended March 31, 2018 and 2017, the Company’s Canadian operations represented less than 1% of total revenues. During the three months ended March 31, 2018 and 2017, no office represented 10% or more of total revenues. Segment Reporting The Company follows the guidance for segment reporting, which requires reporting information on operating segments in interim and annual financial statements. Substantially all of the Company’s operations involve the delivery of commercial real estate services to its customers including real estate investment sales, financing and consulting and advisory services. Management makes operating decisions, assesses performance and allocates resources based on an ongoing review of these integrated operations, which constitute the Company’s only operating segment for financial reporting purposes. Recent Accounting Pronouncements Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers 2014-09”), 2014-09, No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date No. 2016-08, Revenue from Contacts with Customers: Principal Versus Agent Considerations No. 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients 2014-09 2014-09 The Company assessed the impact of the standard and determined that its contracts contain one performance obligation related to its real estate brokerage, financing and consulting and advisory services offered to buyers and sellers of commercial real estate and provide that it is operating as a principal in all of its revenue generating activities. The Company does not have multiple-element arrangements, variable consideration, financing components, significant noncash consideration, licenses, long-term contracts with customers or other items affecting the transaction price. The Company determined the transaction price is generally fixed and determinable and collectability is reasonably assured. Revenue was and will continue to be recognized in principally all cases at the close of escrow for real estate brokerage, close of loan for financing and when services are provided upon closing of the transaction for other revenues. Accordingly, the adoption of ASU 2014-09, In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02”). 2018-02 2018-02 Pending Adoption In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses 2016-13”). 2016-13 2016-13, available-for

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	3. Property and Equipment Property and equipment, net consisted of the following (in thousands): March 31, December 31, Computer software and hardware equipment $ 16,543 $ 16,247 Furniture, fixtures, and equipment 21,939 21,695 Less: accumulated depreciation and amortization (21,385 ) (20,789 ) $ 17,097 $ 17,153 During the three months ended March 31, 2018 and 2017, the Company wrote off approximately $784,000 and $949,000 respectively, of fully depreciated computer software and hardware and furniture, fixtures and equipment.

Selected Balance Sheet Data

Selected Balance Sheet Data	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Selected Balance Sheet Data	4. Selected Balance Sheet Data Other Assets Other assets consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Due from independent contractors, net (1) (2) $ 2,713 $ 3,672 $ 24,798 $ 21,726 Security deposits — — 1,161 1,158 Employee notes receivable (3) 351 366 177 255 Customer trust accounts and other 1,560 1,491 55 24 $ 4,624 $ 5,529 $ 26,191 $ 23,163 (1) Represents amounts advanced, notes receivable and other receivables due from the Company’s investment sales and financing professionals. The notes receivable along with interest, are typically collected from future commissions and are generally due in one to five years. (2) Includes allowance for doubtful accounts related to current receivables of $337 and $494 as of March 31, 2018 and December 31, 2017, respectively. The Company recorded a (recovery) provision for bad debt expense of $(106) and $(44) and wrote off $51 and $16 of these receivables for the three months ended March 31, 2018 and 2017, respectively. Any cash receipts on notes are applied first to unpaid principal balance prior to any income being recognized. (3) See Note 7 – “Related-Party Transactions” for additional information. Deferred Compensation and Commissions Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,895 $ 1,662 $ 18,706 $ 20,217 Commissions payable to investment sales and financing professionals 23,635 46,257 12,501 21,924 Deferred compensation liability (1) 1,383 1,261 7,762 7,220 $ 26,913 $ 49,180 $ 38,969 $ 49,361 (1) The SARs and deferred compensation liability become subject to payout as a result of a participant no longer being considered as a service provider. As a result of the retirement of certain participants, estimated amounts to be paid to the participants within the next twelve months has been classified as current. SARs Liability Prior to the IPO, certain employees of the Company were granted SARs under a stock-based compensation program assumed by MMC. In connection with the IPO, the SARs agreements were revised, the MMC liability of $20.0 million for the SARs was frozen as of March 31, 2013, and was transferred to MMI through a capital distribution. The SARs liability will be settled with each participant in ten annual installments in January of each year upon retirement or termination from service. Under the revised agreements, MMI is required to accrue interest on the outstanding balance beginning on January 1, 2014 at a rate based on the 10-year Estimated payouts within the next twelve months for participants that have separated from service have been classified as current. During the three months ended March 31, 2018, the Company made total payments (consisting of accumulated interest) of $1.5 million classified as an operating cash flow in the deferred compensation and commissions caption in the accompanying condensed consolidated statements of cash flows. Commissions Payable Certain investment sales professionals have the ability to earn additional commissions after meeting certain annual revenue thresholds. These commissions are recognized as cost of services in the period in which they are earned as they relate to specific transactions closed. The Company has the ability to defer payment of certain commissions, at its election, for up to three years. Commissions payable that are not expected to be paid within twelve months are classified as long-term. Deferred Compensation Liability A select group of management is eligible to participate in a Deferred Compensation Plan. The plan is a 409A plan and permits the participant to defer compensation up to limits as determined by the plan. Amounts are paid out generally when the participant is no longer a service provider; however, an in-service The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses consisted of the following (in thousands): Three Months Ended 2018 2017 Increase in the carrying value of the assets held in the rabbi trust (1) $ 14 $ 199 Increase in the carrying value of the deferred compensation obligation (2) $ — $ 211 (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. (2) Recorded in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income.

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investments in Marketable Securities	5. Investments in Marketable Securities Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2018 December 31, 2017 Amortized Gross Gross Fair Amortized Gross Gross Fair Short-term investments: U.S. treasuries $ 72,344 $ — $ (171 ) $ 72,173 $ 57,712 $ — $ (88 ) $ 57,624 U.S. government sponsored entities 10,536 — (35 ) 10,501 7,016 — (8 ) 7,008 Corporate debt securities 12,165 — (13 ) 12,152 8,931 — (3 ) 8,928 $ 95,045 $ — $ (219 ) $ 94,826 $ 73,659 $ — $ (99 ) $ 73,560 Long-term investments: U.S. treasuries $ 4,553 $ — $ (160 ) $ 4,393 $ 18,111 $ 7 $ (164 ) $ 17,954 U.S. government sponsored entities 1,737 — (67 ) 1,670 5,306 — (62 ) 5,244 Corporate debt securities 23,332 28 (304 ) 23,056 22,505 268 (54 ) 22,719 Asset-backed securities and other 6,485 9 (40 ) 6,454 6,180 17 (15 ) 6,182 $ 36,107 $ 37 $ (571 ) $ 35,573 $ 52,102 $ 292 $ (295 ) $ 52,099 The amortized cost and fair value of the Company’s investments in available-for-sale March 31, 2018 December 31, 2017 Unrealized Fair Unrealized Fair Less than 12 months $ (508 ) $ 96,685 $ (158 ) $ 63,229 12 months or longer $ (282 ) $ 28,880 $ (236 ) $ 44,961 Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale Three Months Ended 2018 2017 Gross realized gains (1) $ — $ — Gross realized losses (1) $ — $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. The cost basis of securities sold were determined on the specific identification method. As of March 31, 2018, the Company considers the declines in market value of its marketable securities, available-for-sale available-for-sale Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2018 December 31, 2017 Amortized Fair Value Amortized Fair Value Due in one year or less $ 95,045 $ 94,826 $ 73,659 $ 73,560 Due after one year through five years 14,733 14,608 30,644 30,517 Due after five years through ten years 14,956 14,645 15,090 15,200 Due after ten years 6,418 6,320 6,368 6,382 $ 131,152 $ 130,399 $ 125,761 $ 125,659 Weighted average contractual maturity 2.5 years 2.6 years Actual maturities may differ from contractual maturities because certain borrowers have the right to prepay certain obligations with or without prepayment penalties.

Notes Payable to Former Stockho

Notes Payable to Former Stockholders	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Notes Payable to Former Stockholders	6. Notes Payable to Former Stockholders In conjunction with the Spin-Off Accrued interest included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets pertaining to the Notes consisted of the following (in thousands): March 31, December 31, Accrued interest $ 415 $ 305 Interest expense pertaining to the Notes consisted of the following (in thousands): Three Months Ended 2018 2017 Interest expense $ 109 $ 122

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	7. Related-Party Transactions Shared and Transition Services Prior to October 2013, the Company operated under a shared services arrangement with MMC whereby the Company was charged for actual costs specifically incurred on behalf of the Company or allocated to the Company on a pro rata basis. Beginning in October 2013, certain services are provided to the Company under a Transition Services Agreement (“TSA”) between MMC and the Company, which replaced the pre-IPO Brokerage and Financing Services with the Subsidiaries of MMC MMC has wholly or majority owned subsidiaries that buy and sell commercial real estate properties. The Company performs certain brokerage and financing services related to transactions of the subsidiaries of MMC. For the three months ended March 31, 2018 and 2017, the Company earned real estate brokerage commissions and financing fees of $2.6 million and $203,000, respectively, from transactions with subsidiaries of MMC related to these services. The Company incurred cost of services of $1.5 million and $122,000, respectively, related to these revenues. Operating Lease with MMC The Company has an operating lease with MMC for a single story office building located in Palo Alto, California, which expires on May 31, 2022. Rent expense for this lease aggregated $253,000 for each of the three months ended March 31, 2018 and 2017. Rent expense is included in selling, general and administrative expense in the accompanying condensed consolidated statements of net and comprehensive income. Accounts Payable and Accrued Expenses with MMC As of March 31, 2018 and December 31, 2017, accounts payable and accrued expenses with MMC totaling $101,000 and $91,000, respectively, remain unpaid and are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets. Other The Company makes advances to non-executive time-to-time. non-current As of March 31, 2018, George M. Marcus, the Company’s founder and Co-Chairman,

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements U.S. GAAP defines the fair value of a financial instrument as the amount that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date. The Company is responsible for the determination of the value of the investment carried at fair value and the supporting methodologies and assumptions. The Company uses various pricing sources to validate the values utilized. The degree of judgment used in measuring the fair value of financial instruments is generally inversely correlated with the level of observable valuation inputs. Financial instruments with quoted prices in active markets generally have more pricing observability and less judgment is used in measuring fair value. Financial instruments for which no quoted prices are available have less observability and are measured at fair value using valuation models or other pricing techniques that require more judgment. Assets recorded at fair value are measured and classified in accordance with a fair value hierarchy consisting of the three “levels” based on the observability of inputs available in the marketplace used to measure the fair values as discussed below: Level 1: Level 2: Level 3: Investment in marketable securities, available-for-sale Recurring Fair Value Measurements The Company values its investments including assets held in rabbi trust, commercial paper, money market funds and investments in marketable securities, available-for-sale Assets carried at fair value are categorized into one of the three categories described above and consisted of the following (in thousands): March 31, 2018 December 31, 2017 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets held in rabbi trust $ 8,756 $ — $ 8,756 $ — $ 8,787 $ — $ 8,787 $ — Cash equivalents (1) Commercial paper $ 7,945 $ — $ 7,945 $ — $ 11,441 $ — $ 11,441 $ — Money market funds 165,027 165,027 — — 157,788 157,788 — — $ 172,972 $ 165,027 $ 7,945 $ — $ 169,229 $ 157,788 $ 11,441 $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 72,173 $ 72,173 $ — $ — $ 57,624 $ 57,624 $ — $ — U.S. government sponsored entities 10,501 — 10,501 — 7,008 — 7,008 — Corporate debt securities 12,152 — 12,152 — 8,928 — 8,928 — $ 94,826 $ 72,173 $ 22,653 $ — $ 73,560 $ 57,624 $ 15,936 $ — Long-term investments: U.S. treasuries $ 4,393 $ 4,393 $ — $ — $ 17,954 $ 17,954 $ — $ — U.S. government sponsored entities 1,670 — 1,670 — 5,244 — 5,244 — Corporate debt securities 23,056 — 23,056 — 22,719 — 22,719 — Asset-backed securities and other 6,454 — 6,454 — 6,182 — 6,182 — $ 35,573 $ 4,393 $ 31,180 $ — $ 52,099 $ 17,954 $ 34,145 $ — (1) Included in cash and cash equivalents. There were no transfers in or out of Level 1 and Level 2 during the three months ended March 31, 2018.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Common Stock As of March 31, 2018 and December 31, 2017, there were 38,578,834 and 38,374,011 shares of common stock, $0.0001 par value, issued and outstanding, which includes unvested restricted stock awards issued to non-employee Preferred Stock The Company has 25,000,000 authorized shares of preferred stock with a par value $0.0001 per share. At March 31, 2018 and December 31, 2017, there were no preferred shares issued or outstanding. Accumulated Other Comprehensive (Loss) Income The components of accumulated other comprehensive income as of March 31, 2018, by component, net of income taxes consisted of the following (in thousands): Unrealized available-for- Foreign (3) Total Beginning balance, December 31, 2017 $ (62 ) $ 1,002 $ 940 Cumulative effect of change in accounting principle (1) (13 ) — (13 ) Balance at January 1, 2018, as adjusted (75 ) 1,002 927 Other comprehensive (loss) income before reclassifications (492 ) 39 (453 ) Amounts reclassified from accumulated other comprehensive (loss) income (2) — — — Net current-period other comprehensive (loss) income (492 ) 39 (453 ) Ending balance, March 31, 2018 $ (567 ) $ 1,041 $ 474 (1) Relates to reclassification of stranded tax effects from accumulated other comprehensive income to retained earnings as a result of adoption of ASU 2018-02. (2) Included as a component of other income (expense), net in the condensed consolidated statements of net and comprehensive income. The reclassifications were determined on a specific identification basis. (3) The Company has not provided for U.S. taxes on unremitted earnings of its foreign subsidiary as it is operating at a loss and has no earnings and profits to remit. As a result, deferred taxes were not provided related to the cumulative foreign currency translation adjustments.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	10. Stock-Based Compensation Plans 2013 Omnibus Equity Incentive Plan The board of directors adopted the 2013 Omnibus Equity Incentive Plan (“2013 Plan”), which became effective upon the Company’s IPO. In February 2017, the board of directors approved an amendment to the 2013 Plan, which was approved by the shareholders in May 2017. Grants are made from time to time by the Company’s board of directors at its discretion subject to certain restrictions as to the number and value of shares that may be granted to any individual. Upon adoption of the 2013 Plan, 5,500,000 shares of common stock were initially reserved for the issuance of awards. Pursuant to the automatic increases previously provided for in the 2013 Plan, the board of directors approved share reserve increases aggregating 3,300,000. Pursuant to the amendment to the 2013 Plan referenced above, the automatic share increase provision was removed. At March 31, 2018, there were 5,502,845 shares available for future grants under the Plan. Awards Granted and Settled Under the 2013 Plan, the Company has issued restricted stock awards (“RSAs”) to non-employee one-year During the three months ended March 31, 2018, 258,930 shares of RSUs vested of which 252,930 shares of common stock were delivered and 48,107 shares of common stock were withheld to pay applicable required employee statutory withholding taxes based on the market value of the shares on the vesting date. The shares withheld for taxes were returned to the share reserve and are available for future issuance in accordance with provisions of the 2013 Plan. Outstanding Awards Activity under the 2013 Plan consisted of the following (dollars in thousands, except per share data): RSA Grants to Non-employee RSU Grants to RSU Grants to Total Weighted- Nonvested shares at December 31, 2017 30,732 500,859 450,264 981,855 $ 23.90 Granted February 2018 — 106,419 20,293 126,712 March 2018 — 15,000 — 15,000 Total Granted — 121,419 20,293 141,712 32.43 Vested — (132,325 ) (126,605 ) (258,930 ) 20.59 Transferred — — — — — Forfeited/canceled — (1,960 ) (4,598 ) (6,558 ) 29.21 Nonvested shares at March 31, 2018 (1) 30,732 487,993 339,354 858,079 $ 26.27 Unrecognized stock-based compensation expense as of March 31, 2018 (2) $ 423 $ 12,669 $ 10,154 $ 23,246 Weighted average remaining vesting period (years) as of March 31, 2018 1.60 3.54 2.69 3.14 (1) Nonvested RSU’s will be settled through the issuance of new shares of common stock. (2) The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.14 years. As of March 31, 2018, 578,618 fully vested deferred stock units (“DSUs”) remained outstanding. See “Amendments to Restricted Stock and SARs” section below and Note 12 – “Earnings Per Share” for additional information. Future share settlements of DSUs by year consisted of the following: March 31, 2018 2018 237,052 2021 60,373 2022 281,193 578,618 Employee Stock Purchase Plan In 2013, the Company adopted the 2013 Employee Stock Purchase Plan (“ESPP Plan”). The ESPP Plan qualifies under Section 423 of the IRS Code and provides for consecutive, non-overlapping 6-month 6-month The ESPP Plan initially had 366,667 shares of common stock reserved and 246,895 shares of common stock remain available for issuance for each of the periods at March 31, 2018 and December 31, 2017, respectively. The ESPP Plan provides for annual increases in the number of shares available for issuance under the ESPP, equal to the least of (i) 366,667 shares, (ii) 1% of the outstanding shares on such date, or (iii) an amount determined by the board. Pursuant to the provisions of the ESPP Plan, the board of directors determined a share reserve increase was not required in the prior years. At March 31, 2018, total unrecognized compensation cost related to the ESPP Plan was $19,000 and is expected to be recognized over a weighted average period of 0.12 years. Amendments to Restricted Stock and SARs Restricted Stock In connection with the IPO, the formula settlement value of all outstanding shares of stock held by the plan participants was removed, and all such shares of stock are subject to sales restrictions that lapse at a rate of 20% per year for five years if the participant remains employed by the Company. In the event of death or termination of employment after reaching the age of 67, 100% of the shares of stock will be released from the resale restriction. Further, 100% of the shares of stock will be released from the resale restriction upon the consummation of a change of control of the Company. Of the original 3,689,326 shares subject to resale restriction, 732,020 shares remain subject to sales restriction at March 31, 2018. SARs and DSUs Prior to the IPO, certain employees were granted SARs. As of March 31, 2013, the outstanding SARs were frozen at the liability amount, and will be paid out to each participant in installments upon retirement or departure under the terms of the revised SARs agreements. To replace beneficial ownership in the SARs, the difference between the book value liability and the fair value of the awards was granted to plan participants in the form of DSUs, which were fully vested upon receipt and will be settled in actual stock at a rate of 20% per year if the participant remains employed by the Company during that period (otherwise all unsettled shares of stock upon termination from service will be settled five years from the termination date, unless otherwise agreed to by the Company). In the event of death or termination of service after reaching the age of 67, 100% of the DSUs will be settled. Summary of Stock-Based Compensation Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income consisted of the following (in thousands, except common stock price): Three Months 2018 2017 Employee stock purchase plan $ 39 $ 46 RSAs – non-employee 111 89 RSUs – employees 953 914 RSUs – independent contractors (1) 1,510 817 $ 2,613 $ 1,866 Common stock price at beginning of period $ 32.61 $ 26.72 Common stock price at end of period $ 36.06 $ 24.58 Increase (decrease) in stock price $ 3.45 $ (2.14 ) (1) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company’s effective tax rate for the three months ended March 31, 2018 and 2017 was 25.9% and 38.5%, respectively. The Company provides for the effects of income taxes in interim financial statements based on the Company’s estimate of its annual effective tax rate for the full year, which is based on forecasted income by jurisdiction where the Company operates, adjusted for the tax effects of items that relate discretely to the period, if any. The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (in thousands): Three Months Ended March 31, 2018 2017 Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 5,106 21.0 % $ 6,826 35.0 % State income tax expense, net of federal benefit 1,097 4.5 % 768 3.9 % Effect of foreign operations 32 0.1 % 76 0.4 % Windfall tax benefits, net related to stock-based compensation (217 ) (0.9 )% (156 ) (0.7 )% Permanent items and other 284 1.2 % (12 ) (0.1 )% $ 6,302 25.9 % $ 7,502 38.5 % On December 22, 2017, the Act was enacted, which significantly changed the U.S. corporate income tax laws by, among other items, reducing the U.S. corporate income tax rate to 21% from 35% starting in 2018, further limiting 162(m) deductions and creating a territorial tax system with a one-time

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share	12. Earnings per Share Basic and diluted earnings per share for the three months ended March 31, 2018 and 2017, respectively consisted of the following (in thousands, except per share data): Three Months 2018 2017 Numerator (Basic and Diluted): Net income $ 18,011 $ 12,000 Denominator: Basic Weighted average common shares issued and outstanding 38,547 38,047 Deduct: Unvested RSAs (1) (31 ) (29 ) Add: Fully vested DSUs (2) 579 930 Weighted Average Common Shares Outstanding 39,095 38,948 Basic earnings per common share $ 0.46 $ 0.31 Diluted Weighted Average Common Shares Outstanding from above 39,095 38,948 Add: Dilutive effect of RSUs, RSAs & ESPP 155 160 Weighted Average Common Shares Outstanding 39,250 39,108 Diluted earnings per common share $ 0.46 $ 0.31 Antidilutive shares excluded from diluted earnings per common share (3) 291 299 (1) RSAs were issued and outstanding to the non-employee one-year (2) Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 10 – “Stock-Based Compensation Plans” for additional information. (3) Primarily pertaining to RSU grants to the Company’s employees and independent contractors.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Credit Agreement On June 18, 2014, the Company entered into a Credit Agreement with Wells Fargo Bank, National Association (“Bank”), dated as of June 1, 2014 (the “Credit Agreement”). The Credit Agreement provides for a $60.0 million principal amount senior secured revolving credit facility that is guaranteed by all of the Company’s domestic subsidiaries (the “Credit Facility”), which, as amended, matures on June 1, 2020. The Company may borrow, repay and reborrow amounts under the Credit Facility until its maturity date, at which time all amounts outstanding under the Credit Facility must be repaid in full. Borrowings under the Credit Agreement are available for general corporate purposes and working capital. The Credit Facility includes a $10.0 million sublimit for the issuance of standby letters of credit of which $533,000 was utilized at March 31, 2018. Borrowings under the 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-month The Credit Facility contains customary covenants, including financial and other covenant reporting requirements and events of default. Financial covenants require the Company, on a combined basis with its guarantors, to maintain (i) an EBITDAR Coverage Ratio (as defined in the Credit Agreement) of not less than 1.25:1.0 as of each quarter end and (ii) total funded debt to EBITDA not greater than 2.0:1.0 as of each quarter end both on a rolling 4-quarter non-financial Litigation The Company is subject to various legal proceedings and claims that arise in the ordinary course of business, some of which involve claims for damages that are substantial in amount. Most of these litigation matters are covered by insurance, which contain deductibles, exclusions, claim limits and aggregate policy limits. While the ultimate liability for these legal proceeding cannot be determined, the Company reviews the need for its accrual for loss contingencies quarterly and records an accrual for litigation related losses where the likelihood of loss is both probable and estimable. The Company believes that the ultimate resolution of the legal proceedings will not have a material adverse effect on its financial condition or results of operations. The Company accrues legal fees for litigation as the legal services are provided. Other In connection with certain agreements with investment sales and financing professionals, the Company may agree to advance amounts to its investment sales and financing professionals upon reaching certain performance goals. Such commitments as of March 31, 2018 aggregated $1.4 million.

Description of Business and B21

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Description of Business	Description of Business Marcus & Millichap, Inc., (the “Company”, “Marcus & Millichap”, or “MMI”), a Delaware corporation, is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of March 31, 2018, MMI operates 78 offices in the United States and Canada through its wholly-owned subsidiary, Marcus & Millichap Real Estate Investment Services, Inc. (“MMREIS”), which includes the operations of Marcus & Millichap Capital Corporation (“MMCC”).
Reorganization and Initial Public Offering	Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for Marcus & Millichap Company (“MMC”) to spin-off (“Spin-Off”).
Basis of Presentation	Basis of Presentation The financial information presented in the accompanying unaudited condensed consolidated financial statements, has been prepared in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q Article 10-01 Regulation S-X. 10-K
Consolidation	Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	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 and the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company generates real estate brokerage commissions by acting as a broker for real estate owners or investors seeking to buy or sell commercial properties. The Company generates financing fees from securing financing on purchase transactions as well as fees earned from refinancing its clients’ existing mortgage debt and other financing activities. Other revenues include fees generated from consulting and advisory services, as well as referral fees from other real estate brokers. The Company’s contracts contain one performance obligation related to its real estate brokerage, financing and consulting and advisory services offered to buyers and sellers of commercial real estate and provide that it is operating as a principal in all its revenue generating activities. The Company does not have multiple-element arrangements, variable consideration, financing components, significant noncash consideration, licenses, long-term contracts with customers or other items affecting the transaction price. Accordingly, the Company determined that the transaction price is generally fixed and determinable and collectability is reasonably assured. The Company recognizes revenue in principally all cases at the close of escrow for real estate brokerage, close of loan for financing and when services are provided upon closing of the transaction for other revenues.
Capitalization of Internal Labor	Capitalization of Internal Labor Certain costs related to the development or purchases of internal-use
Concentration of Credit Risk	Concentration of Credit Risk 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 non-current available-for-sale, non-current available-for-sale To reduce its credit risk, the Company monitors the credit standing of the financial institutions that hold the Company’s cash and cash equivalents. The Company historically has not experienced any significant losses related to cash and cash equivalents. 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 case-by-case During the three months ended March 31, 2018 and 2017, the Company’s Canadian operations represented less than 1% of total revenues. During the three months ended March 31, 2018 and 2017, no office represented 10% or more of total revenues.
Segment Reporting	Segment Reporting The Company follows the guidance for segment reporting, which requires reporting information on operating segments in interim and annual financial statements. Substantially all of the Company’s operations involve the delivery of commercial real estate services to its customers including real estate investment sales, financing and consulting and advisory services. Management makes operating decisions, assesses performance and allocates resources based on an ongoing review of these integrated operations, which constitute the Company’s only operating segment for financial reporting purposes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers 2014-09”), 2014-09, No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date No. 2016-08, Revenue from Contacts with Customers: Principal Versus Agent Considerations No. 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients 2014-09 2014-09 The Company assessed the impact of the standard and determined that its contracts contain one performance obligation related to its real estate brokerage, financing and consulting and advisory services offered to buyers and sellers of commercial real estate and provide that it is operating as a principal in all of its revenue generating activities. The Company does not have multiple-element arrangements, variable consideration, financing components, significant noncash consideration, licenses, long-term contracts with customers or other items affecting the transaction price. The Company determined the transaction price is generally fixed and determinable and collectability is reasonably assured. Revenue was and will continue to be recognized in principally all cases at the close of escrow for real estate brokerage, close of loan for financing and when services are provided upon closing of the transaction for other revenues. Accordingly, the adoption of ASU 2014-09, In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02”). 2018-02 2018-02 Pending Adoption In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses 2016-13”). 2016-13 2016-13, available-for

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, Computer software and hardware equipment $ 16,543 $ 16,247 Furniture, fixtures, and equipment 21,939 21,695 Less: accumulated depreciation and amortization (21,385 ) (20,789 ) $ 17,097 $ 17,153

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Due from independent contractors, net (1) (2) $ 2,713 $ 3,672 $ 24,798 $ 21,726 Security deposits — — 1,161 1,158 Employee notes receivable (3) 351 366 177 255 Customer trust accounts and other 1,560 1,491 55 24 $ 4,624 $ 5,529 $ 26,191 $ 23,163 (1) Represents amounts advanced, notes receivable and other receivables due from the Company’s investment sales and financing professionals. The notes receivable along with interest, are typically collected from future commissions and are generally due in one to five years. (2) Includes allowance for doubtful accounts related to current receivables of $337 and $494 as of March 31, 2018 and December 31, 2017, respectively. The Company recorded a (recovery) provision for bad debt expense of $(106) and $(44) and wrote off $51 and $16 of these receivables for the three months ended March 31, 2018 and 2017, respectively. Any cash receipts on notes are applied first to unpaid principal balance prior to any income being recognized. (3) See Note 7 – “Related-Party Transactions” for additional information.
Components of Deferred Compensation and Commissions	Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,895 $ 1,662 $ 18,706 $ 20,217 Commissions payable to investment sales and financing professionals 23,635 46,257 12,501 21,924 Deferred compensation liability (1) 1,383 1,261 7,762 7,220 $ 26,913 $ 49,180 $ 38,969 $ 49,361 (1) The SARs and deferred compensation liability become subject to payout as a result of a participant no longer being considered as a service provider. As a result of the retirement of certain participants, estimated amounts to be paid to the participants within the next twelve months has been classified as current.
Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability	The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses consisted of the following (in thousands): Three Months Ended 2018 2017 Increase in the carrying value of the assets held in the rabbi trust (1) $ 14 $ 199 Increase in the carrying value of the deferred compensation obligation (2) $ — $ 211 (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. (2) Recorded in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income.

Investments in Marketable Sec24

Investments in Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security	Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2018 December 31, 2017 Amortized Gross Gross Fair Amortized Gross Gross Fair Short-term investments: U.S. treasuries $ 72,344 $ — $ (171 ) $ 72,173 $ 57,712 $ — $ (88 ) $ 57,624 U.S. government sponsored entities 10,536 — (35 ) 10,501 7,016 — (8 ) 7,008 Corporate debt securities 12,165 — (13 ) 12,152 8,931 — (3 ) 8,928 $ 95,045 $ — $ (219 ) $ 94,826 $ 73,659 $ — $ (99 ) $ 73,560 Long-term investments: U.S. treasuries $ 4,553 $ — $ (160 ) $ 4,393 $ 18,111 $ 7 $ (164 ) $ 17,954 U.S. government sponsored entities 1,737 — (67 ) 1,670 5,306 — (62 ) 5,244 Corporate debt securities 23,332 28 (304 ) 23,056 22,505 268 (54 ) 22,719 Asset-backed securities and other 6,485 9 (40 ) 6,454 6,180 17 (15 ) 6,182 $ 36,107 $ 37 $ (571 ) $ 35,573 $ 52,102 $ 292 $ (295 ) $ 52,099
Amortized Cost and Fair Value of Investments in Available for Sale Securities	The amortized cost and fair value of the Company’s investments in available-for-sale March 31, 2018 December 31, 2017 Unrealized Fair Unrealized Fair Less than 12 months $ (508 ) $ 96,685 $ (158 ) $ 63,229 12 months or longer $ (282 ) $ 28,880 $ (236 ) $ 44,961
Gross Realized Gains and Losses from Sale of Available for Sale Securities	Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale Three Months Ended 2018 2017 Gross realized gains (1) $ — $ — Gross realized losses (1) $ — $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. The cost basis of securities sold were determined on the specific identification method.
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity	Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2018 December 31, 2017 Amortized Fair Value Amortized Fair Value Due in one year or less $ 95,045 $ 94,826 $ 73,659 $ 73,560 Due after one year through five years 14,733 14,608 30,644 30,517 Due after five years through ten years 14,956 14,645 15,090 15,200 Due after ten years 6,418 6,320 6,368 6,382 $ 131,152 $ 130,399 $ 125,761 $ 125,659 Weighted average contractual maturity 2.5 years 2.6 years

Notes Payable to Former Stock25

Notes Payable to Former Stockholders (Tables)	3 Months Ended
	Mar. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses Pertaining to Notes	Accrued interest included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets pertaining to the Notes consisted of the following (in thousands): March 31, December 31, Accrued interest $ 415 $ 305
Schedule of Interest Expense Pertaining to Notes	Interest expense pertaining to the Notes consisted of the following (in thousands): Three Months Ended 2018 2017 Interest expense $ 109 $ 122

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Assets at Fair Value on Recurring Basis	Assets carried at fair value are categorized into one of the three categories described above and consisted of the following (in thousands): March 31, 2018 December 31, 2017 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets held in rabbi trust $ 8,756 $ — $ 8,756 $ — $ 8,787 $ — $ 8,787 $ — Cash equivalents (1) Commercial paper $ 7,945 $ — $ 7,945 $ — $ 11,441 $ — $ 11,441 $ — Money market funds 165,027 165,027 — — 157,788 157,788 — — $ 172,972 $ 165,027 $ 7,945 $ — $ 169,229 $ 157,788 $ 11,441 $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 72,173 $ 72,173 $ — $ — $ 57,624 $ 57,624 $ — $ — U.S. government sponsored entities 10,501 — 10,501 — 7,008 — 7,008 — Corporate debt securities 12,152 — 12,152 — 8,928 — 8,928 — $ 94,826 $ 72,173 $ 22,653 $ — $ 73,560 $ 57,624 $ 15,936 $ — Long-term investments: U.S. treasuries $ 4,393 $ 4,393 $ — $ — $ 17,954 $ 17,954 $ — $ — U.S. government sponsored entities 1,670 — 1,670 — 5,244 — 5,244 — Corporate debt securities 23,056 — 23,056 — 22,719 — 22,719 — Asset-backed securities and other 6,454 — 6,454 — 6,182 — 6,182 — $ 35,573 $ 4,393 $ 31,180 $ — $ 52,099 $ 17,954 $ 34,145 $ — (1) Included in cash and cash equivalents.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income, Net of Income Taxes	The components of accumulated other comprehensive income as of March 31, 2018, by component, net of income taxes consisted of the following (in thousands): Unrealized available-for- Foreign (3) Total Beginning balance, December 31, 2017 $ (62 ) $ 1,002 $ 940 Cumulative effect of change in accounting principle (1) (13 ) — (13 ) Balance at January 1, 2018, as adjusted (75 ) 1,002 927 Other comprehensive (loss) income before reclassifications (492 ) 39 (453 ) Amounts reclassified from accumulated other comprehensive (loss) income (2) — — — Net current-period other comprehensive (loss) income (492 ) 39 (453 ) Ending balance, March 31, 2018 $ (567 ) $ 1,041 $ 474 (1) Relates to reclassification of stranded tax effects from accumulated other comprehensive income to retained earnings as a result of adoption of ASU 2018-02. (2) Included as a component of other income (expense), net in the condensed consolidated statements of net and comprehensive income. The reclassifications were determined on a specific identification basis. (3) The Company has not provided for U.S. taxes on unremitted earnings of its foreign subsidiary as it is operating at a loss and has no earnings and profits to remit. As a result, deferred taxes were not provided related to the cumulative foreign currency translation adjustments.

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding Awards Under 2013 Omnibus Equity Incentive Plan	Activity under the 2013 Plan consisted of the following (dollars in thousands, except per share data): RSA Grants to Non-employee RSU Grants to RSU Grants to Total Weighted- Nonvested shares at December 31, 2017 30,732 500,859 450,264 981,855 $ 23.90 Granted February 2018 — 106,419 20,293 126,712 March 2018 — 15,000 — 15,000 Total Granted — 121,419 20,293 141,712 32.43 Vested — (132,325 ) (126,605 ) (258,930 ) 20.59 Transferred — — — — — Forfeited/canceled — (1,960 ) (4,598 ) (6,558 ) 29.21 Nonvested shares at March 31, 2018 (1) 30,732 487,993 339,354 858,079 $ 26.27 Unrecognized stock-based compensation expense as of March 31, 2018 (2) $ 423 $ 12,669 $ 10,154 $ 23,246 Weighted average remaining vesting period (years) as of March 31, 2018 1.60 3.54 2.69 3.14 (1) Nonvested RSU’s will be settled through the issuance of new shares of common stock. (2) The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.14 years.
Schedule of Future Share Settlements	Future share settlements of DSUs by year consisted of the following: March 31, 2018 2018 237,052 2021 60,373 2022 281,193 578,618
Stock-Based Compensation Expense	Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income consisted of the following (in thousands, except common stock price): Three Months 2018 2017 Employee stock purchase plan $ 39 $ 46 RSAs – non-employee 111 89 RSUs – employees 953 914 RSUs – independent contractors (1) 1,510 817 $ 2,613 $ 1,866 Common stock price at beginning of period $ 32.61 $ 26.72 Common stock price at end of period $ 36.06 $ 24.58 Increase (decrease) in stock price $ 3.45 $ (2.14 ) (1) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes and Income before Provision for Income Taxes	The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (in thousands): Three Months Ended March 31, 2018 2017 Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 5,106 21.0 % $ 6,826 35.0 % State income tax expense, net of federal benefit 1,097 4.5 % 768 3.9 % Effect of foreign operations 32 0.1 % 76 0.4 % Windfall tax benefits, net related to stock-based compensation (217 ) (0.9 )% (156 ) (0.7 )% Permanent items and other 284 1.2 % (12 ) (0.1 )% $ 6,302 25.9 % $ 7,502 38.5 %

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share	Basic and diluted earnings per share for the three months ended March 31, 2018 and 2017, respectively consisted of the following (in thousands, except per share data): Three Months 2018 2017 Numerator (Basic and Diluted): Net income $ 18,011 $ 12,000 Denominator: Basic Weighted average common shares issued and outstanding 38,547 38,047 Deduct: Unvested RSAs (1) (31 ) (29 ) Add: Fully vested DSUs (2) 579 930 Weighted Average Common Shares Outstanding 39,095 38,948 Basic earnings per common share $ 0.46 $ 0.31 Diluted Weighted Average Common Shares Outstanding from above 39,095 38,948 Add: Dilutive effect of RSUs, RSAs & ESPP 155 160 Weighted Average Common Shares Outstanding 39,250 39,108 Diluted earnings per common share $ 0.46 $ 0.31 Antidilutive shares excluded from diluted earnings per common share (3) 291 299 (1) RSAs were issued and outstanding to the non-employee one-year (2) Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 10 – “Stock-Based Compensation Plans” for additional information. (3) Primarily pertaining to RSU grants to the Company’s employees and independent contractors.

Description of Business and B31

Description of Business and Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Office
Class of Stock [Line Items]
Number of offices in the United States and Canada	78
Formation date	2013-06
Percentage of common stock distributed	80.00%
IPO MMI [Member]
Class of Stock [Line Items]
IPO completion date	Oct. 30, 2013

Accounting Policies and Recen32

Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)Office	Mar. 31, 2017Office	Dec. 31, 2017USD ($)
Accounting Policies [Line Items]
Commission's receivable settled period	10 days
Marketable securities, available for sale	$ 130,399,000		$ 125,659,000
Accounting Standards Update 2018-02 [Member]
Accounting Policies [Line Items]
Reclassification of stranded tax effects from accumulated other comprehensive income to retained earnings	13,000
Accounting Standards Update 2016-02 [Member]
Accounting Policies [Line Items]
Operating lease obligations	$ 83,600,000
Customer Concentration Risk [Member] | Total revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Customer Concentration Risk [Member] | Commissions receivable [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Geographic Concentration Risk [Member] | Total revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Number of offices | Office	0	0
Capitalization of Internal Labor [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	7 years
Capitalization of Internal Labor [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	3 years
Average AA Credit Rating [Member] | Accounting Standards Update 2016-13 [Member]
Accounting Policies [Line Items]
Marketable securities, available for sale	$ 130,400,000
Impairment write-downs marketable securities, available for sale	$ 0
International Revenues [Member] | Maximum [Member] | Geographic Concentration Risk [Member] | Total revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	1.00%	1.00%

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (21,385)	$ (20,789)
Property and equipment, net	17,097	17,153
Computer software and hardware equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	16,543	16,247
Furniture, fixtures, and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 21,939	$ 21,695

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Fully depreciated computer software and hardware and furniture, fixtures and equipment write-off	$ 784,000	$ 949,000

Selected Balance Sheet Data - S

Selected Balance Sheet Data - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Assets [Line Items]
Other assets Current	$ 4,624	$ 5,529
Other assets Non-Current	26,191	23,163
Due from independent contractors, net [Member]
Other Assets [Line Items]
Other assets Current	2,713	3,672
Other assets Non-Current	24,798	21,726
Security deposits [Member]
Other Assets [Line Items]
Other assets Current	0	0
Other assets Non-Current	1,161	1,158
Employee Notes Receivable [Member]
Other Assets [Line Items]
Other assets Current	351	366
Other assets Non-Current	177	255
Customer trust accounts and other [Member]
Other Assets [Line Items]
Other assets Current	1,560	1,491
Other assets Non-Current	$ 55	$ 24

Selected Balance Sheet Data -36

Selected Balance Sheet Data - Schedule of Other Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Other Assets [Line Items]
Allowance of doubtful accounts	$ 337		$ 494
(Recovery) provision for bad debt expense	(106)	$ (44)
Write-off receivables	$ 51	$ 16
Minimum [Member]
Other Assets [Line Items]
Notes receivable due period	1 year
Maximum [Member]
Other Assets [Line Items]
Notes receivable due period	5 years

Selected Balance Sheet Data - C

Selected Balance Sheet Data - Components of Deferred Compensation and Commissions (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock appreciation rights ("SARs") liability	$ 1,895	$ 1,662
Deferred compensation liability	1,383	1,261
Deferred compensation and commissions, current	26,913	49,180
Stock appreciation rights ("SARs") liability	18,706	20,217
Deferred compensation liability	7,762	7,220
Deferred compensation and commissions, non-current	38,969	49,361
Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	23,635	46,257
Non-Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	$ 12,501	$ 21,924

Selected Balance Sheet Data - A

Selected Balance Sheet Data - Additional Information (Detail)	Jan. 01, 2018	Jan. 01, 2017	Jan. 01, 2014	Mar. 31, 2018USD ($)Installments	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2013USD ($)
Schedule Of Accrued Expenses [Line Items]
SARs frozen liability amount				$ 18,706,000		$ 20,217,000
Interest expense				$ 360,000	$ 382,000
Maximum payment deferral period for certain commissions payable				3 years
SARs [Member]
Schedule Of Accrued Expenses [Line Items]
SARs frozen liability amount							$ 20,000,000
SARs liability frozen value date				Mar. 31, 2013
SARs liability interest accrual commencement date				Jan. 1, 2014
Interest expense				$ 225,000	$ 233,000
Treasury note term			10 years
Base spread on SARs liability variable rate			2.00%
SARs liability interest accrual rates	4.409%	4.446%
SARs liability number of annual installments | Installments				10
Estimated payouts description				Estimated payouts within the next twelve months for participants that have separated from service have been classified as current.
Payments made during the period				$ 1,500,000
Deferred Compensation Liability [Member]
Schedule Of Accrued Expenses [Line Items]
Estimated payouts description				Estimated payouts within the next twelve months for participants that have separated from service have been classified as current.
Payments made during the period				$ 193,000
Deferred Compensation Liability, Minimum Payout Period				2 years
Deferred Compensation Liability, Maximum Payout Period				15 years
Fair value of deferred compensation plan assets				110.00%

Selected Balance Sheet Data -39

Selected Balance Sheet Data - Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Increase in the carrying value of the assets held in the rabbi trust	$ 14	$ 199
Increase in the carrying value of the deferred compensation obligation	$ 0	$ 211

Investments in Marketable Sec40

Investments in Marketable Securities - Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 131,152	$ 125,761
Fair Value	130,399	125,659
Short-term investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	95,045	73,659
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(219)	(99)
Fair Value	94,826	73,560
Short-term investments [Member] | U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	72,344	57,712
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(171)	(88)
Fair Value	72,173	57,624
Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,536	7,016
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(35)	(8)
Fair Value	10,501	7,008
Short-term investments [Member] | Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,165	8,931
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(13)	(3)
Fair Value	12,152	8,928
Long-term marketable securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	36,107	52,102
Gross Unrealized Gains	37	292
Gross Unrealized Losses	(571)	(295)
Fair Value	35,573	52,099
Long-term marketable securities [Member] | U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,553	18,111
Gross Unrealized Gains	0	7
Gross Unrealized Losses	(160)	(164)
Fair Value	4,393	17,954
Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,737	5,306
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(67)	(62)
Fair Value	1,670	5,244
Long-term marketable securities [Member] | Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	23,332	22,505
Gross Unrealized Gains	28	268
Gross Unrealized Losses	(304)	(54)
Fair Value	23,056	22,719
Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,485	6,180
Gross Unrealized Gains	9	17
Gross Unrealized Losses	(40)	(15)
Fair Value	$ 6,454	$ 6,182

Investments in Marketable Sec41

Investments in Marketable Securities - Amortized Cost and Fair Value of Investments in Available for Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Available for sale securities continuous unrealized loss position for less than 12 months, unrealized loss	$ (508)	$ (158)
Available for sale securities continuous unrealized loss position for 12 months or longer, unrealized loss	(282)	(236)
Available for sale securities continuous unrealized loss position for less than 12 months, fair value	96,685	63,229
Available for sale securities continuous unrealized loss position for 12 months or longer, fair value	$ 28,880	$ 44,961

Investments in Marketable Sec42

Investments in Marketable Securities - Gross Realized Gains and Losses from Sale of Available for Sale Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
Gross realized gains	$ 0	$ 0
Gross realized losses	$ 0	$ 0

Investments in Marketable Sec43

Investments in Marketable Securities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)
Marketable Securities [Abstract]
Investments other-than-temporarily impaired	$ 0

Investments in Marketable Sec44

Investments in Marketable Securities - Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 95,045	$ 73,659
Due after one year through five years, Amortized Cost	14,733	30,644
Due after five years through ten years, Amortized Cost	14,956	15,090
Due after ten years, Amortized Cost	6,418	6,368
Amortized Cost	131,152	125,761
Due in one year or less, Fair Value	94,826	73,560
Due after one year through five years, Fair Value	14,608	30,517
Due after five years through ten years, Fair Value	14,645	15,200
Due after ten years, Fair Value	6,320	6,382
Total Fair Value	$ 130,399	$ 125,659
Weighted average contractual maturity	2 years 6 months	2 years 7 months 6 days

Notes Payable to Former Stock45

Notes Payable to Former Stockholders - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
Restricted Stock - Notes Payable [Member]
Debt Instrument [Line Items]
Unsecured notes interest rate	5.00%
Unsecured notes maturity date	Jun. 30, 2020
SARs - Notes Payable [Member]
Debt Instrument [Line Items]
Unsecured notes interest rate	5.00%
Unsecured notes maturity date	Jun. 30, 2020

Notes Payable to Former Stock46

Notes Payable to Former Stockholders - Schedule of Accounts Payable and Accrued Expenses Pertaining to Notes (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Expenses [Member]
Accounts Payable And Accrued Expenses [Line Items]
Accrued interest	$ 415	$ 305

Notes Payable to Former Stock47

Notes Payable to Former Stockholders - Schedule of Interest Expense Pertaining to Notes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest Expense [Line Items]
Interest expense	$ 360	$ 382
Notes Payable to Former Stockholders [Member]
Interest Expense [Line Items]
Interest expense	$ 109	$ 122

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Aggregate principal amount for employee notes receivable	$ 528,000		$ 621,000
MMC [Member]
Related Party Transaction [Line Items]
Real estate brokerage commissions and financing fees from transactions with subsidiaries of Marcus & Millichap Company	2,600,000	$ 203,000
Commission expenses for transactions with subsidiaries of Marcus & Millichap Company	1,500,000	122,000
Rent expense for lease	$ 253,000	253,000
Lease expiration date	May 31, 2022
Accounts payable and other accrued expenses - related party	$ 101,000		$ 91,000
MMC [Member] | Transition Services Agreement [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expense	$ 72,000	$ 82,000
Transition services agreement date	Oct. 1, 2013
George M. Marcus [Member]
Related Party Transaction [Line Items]
Beneficial ownership percentage	48.00%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Mar. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, assets, level 1 to level 2 transfers, amount	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	$ 8,756	$ 8,787
Marketable securities, available for sale	130,399	125,659
Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	94,826	73,560
Short-term investments [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	72,173	57,624
Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	10,501	7,008
Short-term investments [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	12,152	8,928
Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	35,573	52,099
Long-term marketable securities [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	4,393	17,954
Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,670	5,244
Long-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	23,056	22,719
Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	6,454	6,182
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	172,972	169,229
Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	7,945	11,441
Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	165,027	157,788
Recurring [Member] | Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	8,756	8,787
Recurring [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	94,826	73,560
Recurring [Member] | Short-term investments [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	72,173	57,624
Recurring [Member] | Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	10,501	7,008
Recurring [Member] | Short-term investments [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	12,152	8,928
Recurring [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	35,573	52,099
Recurring [Member] | Long-term marketable securities [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	4,393	17,954
Recurring [Member] | Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,670	5,244
Recurring [Member] | Long-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	23,056	22,719
Recurring [Member] | Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	6,454	6,182
Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	165,027	157,788
Level 1 [Member] | Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 1 [Member] | Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	165,027	157,788
Level 1 [Member] | Recurring [Member] | Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	0	0
Level 1 [Member] | Recurring [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	72,173	57,624
Level 1 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	72,173	57,624
Level 1 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] | Recurring [Member] | Short-term investments [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] | Recurring [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	4,393	17,954
Level 1 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	4,393	17,954
Level 1 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	7,945	11,441
Level 2 [Member] | Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	7,945	11,441
Level 2 [Member] | Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 2 [Member] | Recurring [Member] | Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	8,756	8,787
Level 2 [Member] | Recurring [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	22,653	15,936
Level 2 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	10,501	7,008
Level 2 [Member] | Recurring [Member] | Short-term investments [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	12,152	8,928
Level 2 [Member] | Recurring [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	31,180	34,145
Level 2 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,670	5,244
Level 2 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	23,056	22,719
Level 2 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	6,454	6,182
Level 3 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] | Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] | Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] | Recurring [Member] | Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	0	0
Level 3 [Member] | Recurring [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Short-term investments [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Treasuries [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Corporate debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] | Recurring [Member] | Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	$ 0	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Common stock, shares issued	38,578,834	38,374,011
Common stock, shares outstanding	38,578,834	38,374,011
Common stock share, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income, Net of Income Taxes (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 314,888
Balance as adjusted	314,888
Ending Balance	333,409
Unrealized gains and (losses) of available-for-sale securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as adjusted	(75)
Other comprehensive (loss) income before reclassifications	(492)
Amounts reclassified from accumulated other comprehensive (loss) income	0
Net current-period other comprehensive (loss) income	(492)
Ending Balance	(567)
Unrealized gains and (losses) of available-for-sale securities [Member] | Scenario, Previously Reported [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(62)
Unrealized gains and (losses) of available-for-sale securities [Member] | Scenario, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of change in accounting principle	(13)
Foreign currency translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as adjusted	1,002
Other comprehensive (loss) income before reclassifications	39
Amounts reclassified from accumulated other comprehensive (loss) income	0
Net current-period other comprehensive (loss) income	39
Ending Balance	1,041
Foreign currency translation [Member] | Scenario, Previously Reported [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	1,002
Foreign currency translation [Member] | Scenario, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of change in accounting principle	0
Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	940
Balance as adjusted	927
Other comprehensive (loss) income before reclassifications	(453)
Amounts reclassified from accumulated other comprehensive (loss) income	0
Net current-period other comprehensive (loss) income	(453)
Ending Balance	474
Accumulated Other Comprehensive Income [Member] | Scenario, Previously Reported [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	940
Accumulated Other Comprehensive Income [Member] | Scenario, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative effect of change in accounting principle	$ (13)

Stockholders' Equity - Change53

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income, Net of Income Taxes (Parenthetical) (Detail)	Mar. 31, 2018USD ($)
Equity [Abstract]
Undistributed earnings of foreign subsidiary	$ 0

Stock-Based Compensation Plan54

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Award Limitations - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Incentive_Planshares
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Common stock shares reserved for issuance of awards	5,500,000
Common stock shares available for grant	5,502,845
Increase of common stock share reserve approved	3,300,000
Number of active equity plans | Incentive_Plan	1
Equity incentive plan amendment, shareholder approval date	May 4, 2017
Equity incentive plan amendment, board of directors approval date	2017-02

Stock-Based Compensation Plan55

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested shares	258,930
2013 Omnibus Equity Incentive Plan [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] | Deferred stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fully vested deferred stock units remaining outstanding	578,618
2013 Omnibus Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
2013 Omnibus Equity Incentive Plan [Member] | Restricted Stock Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2013 Omnibus Equity Incentive Plan [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Vested shares	258,930
Number of common stock shares withheld to pay employee statutory withholding taxes	48,107
Vested and delivered shares	252,930
2013 Omnibus Equity Incentive Plan [Member] | SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0

Stock-Based Compensation Plan56

Stock-Based Compensation Plans - Outstanding Awards Under 2013 Omnibus Equity Incentive Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended
	Mar. 31, 2018	Feb. 28, 2018	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2017			981,855
Granted	15,000	126,712	141,712
Vested			(258,930)
Transferred			0
Forfeited/canceled			(6,558)
Nonvested shares at March 31, 2018	858,079		858,079
Unrecognized stock-based compensation expense as of March 31, 2018	$ 23,246		$ 23,246
Unrecognized stock-based compensation expenses recognition period			3 years 1 month 20 days
Nonvested weighted average grant date fair value per share, beginning balance			$ 23.90
Weighted average grant date fair value per share, Granted			32.43
Weighted average grant date fair value, Vested			20.59
Weighted average grant date fair value, Transferred			0
Weighted average grant date fair value, Forfeited/canceled			29.21
Nonvested weighted average grant date fair value per share, ending balance	$ 26.27		$ 26.27
Restricted Stock Awards [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2017			30,732
Granted	0	0	0
Vested			0
Transferred			0
Forfeited/canceled			0
Nonvested shares at March 31, 2018	30,732		30,732
Unrecognized stock-based compensation expense as of March 31, 2018	$ 423		$ 423
Unrecognized stock-based compensation expenses recognition period			1 year 7 months 6 days
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2017			500,859
Granted	15,000	106,419	121,419
Vested			(132,325)
Transferred			0
Forfeited/canceled			(1,960)
Nonvested shares at March 31, 2018	487,993		487,993
Unrecognized stock-based compensation expense as of March 31, 2018	$ 12,669		$ 12,669
Unrecognized stock-based compensation expenses recognition period			3 years 6 months 14 days
Restricted Stock Units [Member] | Independent Contractors [member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2017			450,264
Granted	0	20,293	20,293
Vested			(126,605)
Transferred			0
Forfeited/canceled			(4,598)
Nonvested shares at March 31, 2018	339,354		339,354
Unrecognized stock-based compensation expense as of March 31, 2018	$ 10,154		$ 10,154
Unrecognized stock-based compensation expenses recognition period			2 years 8 months 9 days

Stock-Based Compensation Plan57

Stock-Based Compensation Plans - Schedule of Future Share Settlements (Detail) - 2013 Omnibus Equity Incentive Plan [Member] - Deferred stock units [Member]	Mar. 31, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2,018	237,052
2,021	60,373
2,022	281,193
Total	578,618

Stock-Based Compensation Plan58

Stock-Based Compensation Plans - Employee Stock Purchase Plan - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for issuance	5,502,845
Unrecognized stock-based compensation expense	$ 23,246,000
Unrecognized stock-based compensation expenses recognition period	3 years 1 month 20 days
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP offering period description	The offering periods generally start on the first trading day on or after May 15 and November 15 of each year.
Length of purchase intervals	6 months
ESPP discount rate	10.00%
Common stock reserved and available for issuance	366,667
Common stock shares available for issuance	246,895	246,895
Unrecognized stock-based compensation expense	$ 19,000
Unrecognized stock-based compensation expenses recognition period	1 month 13 days
Employee Stock Purchase Plan - Annual Available for Issuance Share Increase [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for future issuance authorized annual share increase	366,667
Common stock available for future issuance authorized annual percentage increase	1.00%
ESPP description	The ESPP Plan provides for annual increases in the number of shares available for issuance under the ESPP, equal to the least of (i) 366,667 shares, (ii) 1% of the outstanding shares on such date, or (iii) an amount determined by the board. Pursuant to the provisions of the ESPP Plan, the board of directors determined a share reserve increase was not required in the prior years.

Stock-Based Compensation Plan59

Stock-Based Compensation Plans - Amendments to Restricted Stock and SARs - Additional Information (Detail) - shares	Oct. 30, 2013	Mar. 31, 2018
Deferred stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee termination age	67 years
DSU settlement to common stock percentage	20.00%
DSU settlement into actual stock issued term	5 years
Percentage of shares of deferred stock units settled in the event of death or termination after reaching age 67	100.00%
Restricted Stock Sales Restriction [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sales restriction lapse percentage for restricted stock	20.00%
Employee termination age	67 years
Sales restriction period for restricted stock	5 years
Percentage of shares of stock released from resale restriction upon consummation of change of control	100.00%
Percentage of shares of restricted released from resale restriction in the event of death or termination after reaching age 67	100.00%
Number of original shares subject to resale restriction	3,689,326
Number of shares remain subject to sales restriction		732,020

Stock-Based Compensation Plan60

Stock-Based Compensation Plans - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense - Independent contractors	$ 1,510	$ 817
Allocated share-based compensation expense	2,613	1,866
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	39	46
Restricted Stock Awards [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	111	89
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 953	$ 914

Stock-Based Compensation Plan61

Stock-Based Compensation Plans - Changes in Company's Common Stock Price During Reporting Period (Detail) - Stock Based Compensation Expense [Member] - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock price at beginning of period	$ 32.61	$ 26.72
Common stock price at end of period	36.06	24.58
Increase (decrease) in stock price	$ 3.45	$ (2.14)

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes and Income before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense at the federal statutory rate	$ 5,106	$ 6,826
State income tax expense, net of federal benefit	1,097	768
Effect of foreign operations	32	76
Windfall tax benefits, net related to stock-based compensation	(217)	(156)
Permanent items and other	284	(12)
Provision for income taxes, amount	$ 6,302	$ 7,502
Income tax expense at the federal statutory rate	21.00%	35.00%	35.00%
State income tax expense, net of federal benefit	4.50%	3.90%
Effect of foreign operations	0.10%	0.40%
Windfall tax benefits, net related to stock-based compensation	(0.90%)	(0.70%)
Permanent items and other	1.20%	(0.10%)
Provision for income taxes, rate	25.90%	38.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax computed at federal rate, percentage	21.00%	35.00%	35.00%
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense			$ 11.6
Provision for income taxes, rate	25.90%	38.50%

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator (Basic and Diluted):
Net income	$ 18,011	$ 12,000
Denominator:
Weighted average common shares issued and outstanding	38,547	38,047
Deduct: Unvested RSAs	(31)	(29)
Add: Fully vested DSUs	579	930
Weighted Average Common Shares Outstanding	39,095	38,948
Basic earnings per common share	$ 0.46	$ 0.31
Weighted Average Common Shares Outstanding from above	39,095	38,948
Add: Dilutive effect of RSUs, RSAs & ESPP	155	160
Weighted Average Common Shares Outstanding	39,250	39,108
Diluted earnings per common share	$ 0.46	$ 0.31
Antidilutive shares excluded from diluted earnings per common share	291	299

Earnings per Share - Computat65

Earnings per Share - Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share (Parenthetical) (Detail) - Restricted Stock Awards [Member] - 2013 Omnibus Equity Incentive Plan [Member]	3 Months Ended
	Mar. 31, 2018
Minimum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting period	1 year
Maximum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting period	3 years

Commitments and Contingencies -

Commitments and Contingencies - Additional Information Credit Agreement (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Line of Credit Facility [Line Items]
Senior secured revolving credit facility maximum borrowing capacity	$ 60,000,000
Revolving credit facility maturity date	Jun. 1, 2020
Date the Company entered into a Credit Agreement	Jun. 18, 2014
Credit agreement date	Jun. 1, 2014
Standby letters of credit borrowing capacity	$ 10,000,000
Standby letters of credit, utilized amount	$ 533,000
Credit facility interest rate description	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-month LIBOR 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
LIBOR rate duration period	1 month
Credit agreement, unused capacity, commitment fee percentage	0.10%
Interest expense	$ 360,000	$ 382,000
Credit agreement, amount outstanding	$ 0
Credit facility covenants	(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
Minimum EBITDAR coverage ratio	1.25%
Maximum Total Funded Debt to EBITDA ratio	2.00%
Credit agreement, pledge percentage	100.00%
Compliance description	As of March 31, 2018, the Company was in compliance with all financial and non-financial covenants.
LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.50%
Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.50%
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Interest expense	$ 26,000	$ 27,000
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	0.875%
Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.125%

Commitments and Contingencies67

Commitments and Contingencies - Additional Information Other (Detail) $ in Millions	Mar. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment amount	$ 1.4