Marcus & Millichap (MMI) 10-Q 8 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2019
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	Marcus & Millichap, Inc.
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Trading Symbol	MMI
Security Exchange Name	NYSE
Entity File Number	001-36155
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2478370
Entity Address, Address Line One	23975 Park Sorrento, Suite 400
Entity Address, City or Town	Calabasas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91302
City Area Code	818
Local Phone Number	212-2250
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		39,132,236
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001578732
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 226,081	$ 214,683
Commissions receivable	6,316	4,948
Prepaid expenses	9,330	7,904
Income tax receivable	7,786	0
Marketable securities, available-for-sale	124,475	137,436
Other assets, net	12,352	6,368
Total current assets	386,340	371,339
Prepaid rent	0	13,892
Property and equipment, net	21,609	19,550
Operating lease right-of-use assets, net	90,165	0
Marketable securities, available-for-sale	70,785	83,209
Assets held in rabbi trust	9,102	8,268
Deferred tax assets, net	18,513	22,959
Goodwill and other intangible assets, net	14,647	15,385
Other assets	53,432	31,778
Total assets	664,593	566,380
Current liabilities:
Accounts payable and other liabilities	11,003	11,035
Notes payable to former stockholders	6,564	1,087
Deferred compensation and commissions	32,450	47,910
Income tax payable	0	4,486
Operating lease liabilities	17,500	0
Accrued bonuses and other employee related expenses	16,964	28,338
Total current liabilities	84,481	92,856
Deferred compensation and commissions	41,695	49,887
Notes payable to former stockholders	0	6,564
Operating lease liabilities	64,316	0
Deferred rent and other liabilities	2,001	7,499
Total liabilities	192,493	156,806
Commitments and contingencies	0	0
Stockholders' equity:
Preferred stock, $0.0001 par value: Authorized shares – 25,000,000; issued and outstanding shares – none at September 30, 2019 and December 31, 2018, respectively	0	0
Common stock, $0.0001 par value: Authorized shares – 150,000,000; issued and outstanding shares – 39,132,236 and 38,814,464 at September 30, 2019 and December 31, 2018, respectively	4	4
Additional paid-in capital	102,142	97,458
Stock notes receivable from employees	(4)	(4)
Retained earnings	367,550	311,341
Accumulated other comprehensive income	2,408	775
Total stockholders' equity	472,100	409,574
Total liabilities and stockholders' equity	$ 664,593	$ 566,380

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
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	39,132,236	38,814,464
Common stock, shares outstanding	39,132,236	38,814,464

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Revenue	$ 198,220	$ 210,590	$ 568,520	$ 584,533
Operating expenses:
Cost of services	124,147	132,896	343,682	354,414
Selling, general and administrative expense	48,091	48,659	149,845	145,792
Depreciation and amortization expense	1,910	1,651	5,674	4,529
Total operating expenses	174,148	183,206	499,201	504,735
Operating income	24,072	27,384	69,319	79,798
Other income (expense), net	2,573	2,127	9,067	5,060
Interest expense	(329)	(342)	(1,018)	(1,054)
Income before provision for income taxes	26,316	29,169	77,368	83,804
Provision for income taxes	7,024	8,315	21,159	22,772
Net income	19,292	20,854	56,209	61,032
Marketable securities, available-for-sale:
Change in unrealized gains (losses)	160	(115)	1,874	(779)
Less: reclassification adjustment for net (gains) losses included in other income (expense), net	(23)	0	(41)	8
Net change, net of tax of $46, $(38), $617 and $(259) for the three and nine months ended September 30, 2019 and 2018, respectively	137	(115)	1,833	(771)
Foreign currency translation gain (loss), net of tax of $0 for each of the three and nine months ended September 30, 2019 and 2018	114	(29)	(200)	44
Total other comprehensive income (loss)	251	(144)	1,633	(727)
Comprehensive income	$ 19,543	$ 20,710	$ 57,842	$ 60,305
Earnings per share:
Basic	$ 0.49	$ 0.53	$ 1.43	$ 1.56
Diluted	$ 0.49	$ 0.53	$ 1.42	$ 1.55
Weighted average common shares outstanding:
Basic	39,441	39,191	39,383	39,147
Diluted	39,550	39,484	39,527	39,359
Real Estate Brokerage Commissions [Member]
Revenues:
Revenue	$ 180,198	$ 191,980	$ 513,815	$ 536,145
Financing Fees [Member]
Revenues:
Revenue	16,013	15,947	47,487	41,234
Other Revenues [Member]
Revenues:
Revenue	$ 2,009	$ 2,663	$ 7,218	$ 7,154

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Marketable securities net change, tax	$ 46	$ (38)	$ 617	$ (259)
Foreign currency translation (loss) gain, tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 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 (Loss) [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
Cumulative effect of a change in accounting principle at Dec. 31, 2017	0	$ 0	$ 0	0	0	13	(13)
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	60,305	$ 0	$ 0	0	0	61,032	(727)
Stock-based compensation	8,919	$ 0	$ 0	8,919	0	0	0
Stock-based compensation, Shares		0	0
Shares issued pursuant to employee stock purchase plan	356	$ 0	$ 0	356	0	0	0
Shares issued pursuant to employee stock purchase plan, Shares		0	13,028
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	305,975
Issuance of common stock for unvested restricted stock awards	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for unvested restricted stock awards, Shares		0	12,852
Shares withheld related to net share settlement of stock-based awards	(1,777)	$ 0	$ 0	(1,777)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(54,506)
Ending Balance at Sep. 30, 2018	382,691	$ 0	$ 4	97,375	(4)	285,116	200
Ending Balance, Shares at Sep. 30, 2018		0	38,651,360
Beginning Balance at Jun. 30, 2018	358,897	$ 0	$ 4	94,291	(4)	264,262	344
Beginning Balance, Shares at Jun. 30, 2018		0	38,621,712
Net and comprehensive income	20,710	$ 0	$ 0	0	0	20,854	(144)
Stock-based compensation	3,147	$ 0	$ 0	3,147	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	31,235
Shares withheld related to net share settlement of stock-based awards	(63)	$ 0	$ 0	(63)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(1,587)
Ending Balance at Sep. 30, 2018	382,691	$ 0	$ 4	97,375	(4)	285,116	200
Ending Balance, Shares at Sep. 30, 2018		0	38,651,360
Beginning Balance at Dec. 31, 2018	409,574	$ 0	$ 4	97,458	(4)	311,341	775
Beginning Balance, Shares at Dec. 31, 2018		0	38,814,464
Net and comprehensive income	57,842	$ 0	$ 0	0	0	56,209	1,633
Stock-based compensation	7,040	$ 0	$ 0	7,040	0	0	0
Stock-based compensation, Shares		0	0
Shares issued pursuant to employee stock purchase plan	338	$ 0	$ 0	338	0	0	0
Shares issued pursuant to employee stock purchase plan, Shares		0	11,022
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	366,476
Issuance of common stock for unvested restricted stock awards	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for unvested restricted stock awards, Shares		0	12,806
Shares withheld related to net share settlement of stock-based awards	(2,694)	$ 0	$ 0	(2,694)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(72,532)
Ending Balance at Sep. 30, 2019	472,100	$ 0	$ 4	102,142	(4)	367,550	2,408
Ending Balance, Shares at Sep. 30, 2019		0	39,132,236
Beginning Balance at Jun. 30, 2019	450,513	$ 0	$ 4	100,098	(4)	348,258	2,157
Beginning Balance, Shares at Jun. 30, 2019		0	39,090,861
Net and comprehensive income	19,543	$ 0	$ 0	0	0	19,292	251
Stock-based compensation	2,114	$ 0	$ 0	2,114	0	0	0
Stock-based compensation, Shares		0	0
Shares issued pursuant to employee stock purchase plan	0	$ 0	$ 0	0	0	0	0
Shares issued pursuant to employee stock purchase plan, 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	41,257
Issuance of common stock for unvested restricted stock awards	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for unvested restricted stock awards, Shares		0	2,264
Shares withheld related to net share settlement of stock-based awards	(70)	$ 0	$ 0	(70)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(2,146)
Ending Balance at Sep. 30, 2019	$ 472,100	$ 0	$ 4	$ 102,142	$ (4)	$ 367,550	$ 2,408
Ending Balance, Shares at Sep. 30, 2019		0	39,132,236

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 56,209	$ 61,032
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization expense	5,674	4,529
Amortization of right-of-use assets	15,433	0
Provision of bad debt expense	75	52
Stock-based compensation	7,040	8,919
Deferred taxes, net	3,829	(735)
Net realized gains on marketable securities, available-for-sale	(70)	(12)
Other non-cash items	489	(148)
Changes in operating assets and liabilities:
Commissions receivable	(1,368)	4,183
Prepaid expenses	(1,426)	3,145
Prepaid rent	0	875
Other assets, net	(31,302)	(9,066)
Accounts payable and other liabilities	103	(1,552)
Income tax receivable/payable	(12,272)	7,271
Accrued bonuses and other employee related expenses	(11,314)	(558)
Deferred compensation and commissions	(24,409)	(23,739)
Operating lease liabilities	(12,725)	0
Deferred rent and other liabilities	(19)	817
Net cash (used in) provided by operating activities	(6,053)	55,013
Cash flows from investing activities
Acquisition, net of cash received	0	(6,990)
Purchases of marketable securities, available-for-sale	(115,744)	(168,672)
Proceeds from sales and maturities of marketable securities, available-for-sale	143,638	88,027
Issuances of employee notes receivable	(200)	(126)
Payments received on employee notes receivable	28	12
Purchase of property and equipment	(6,643)	(4,574)
Net cash provided by (used in) investing activities	21,079	(92,323)
Cash flows from financing activities
Taxes paid related to net share settlement of stock-based awards	(2,694)	(1,777)
Proceeds from issuance of shares pursuant to employee stock purchase plan	338	356
Principal payments on notes payable to former stockholders	(1,087)	(1,035)
Principal payments on stock appreciation rights liability	(185)	0
Net cash used in financing activities	(3,628)	(2,456)
Net increase (decrease) in cash and cash equivalents	11,398	(39,766)
Cash and cash equivalents at beginning of period	214,683	220,786
Cash and cash equivalents at end of period	226,081	181,020
Supplemental disclosures of cash flow information
Interest paid during the period	2,092	2,180
Income taxes paid, net	$ 29,602	$ 16,237

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019, MMI operated 82 offices in the United States and Canada through its wholly-owned subsidiaries, including the operations of Marcus & Millichap Capital Corporation . Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for Marcus & Millichap Company (“MMC”) to spin-off October 30, 2013 . 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 10-01 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. Segment Reporting The Company follows U.S. GAAP 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 our customers including real estate investment sales, financing (including mortgage servicing rights revenue) 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. Reclassifications Certain prior-period amounts in Note 13 – “Income Taxes” have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations or any totals or subtotals therein.

Accounting Policies and Recent

Accounting Policies and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2019
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 Leases The Company utilizes operating leases for all its facilities and autos. The Company determines if an arrangement is a lease at inception. Right-of-use non-current, non-current Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Lease agreements may contain periods of free rent or reduced rent, predetermined fixed increases in the minimum rent and renewal or termination options, all of which impact the determination of the lease term and lease payments to be used in calculating the lease liability. Certain facility leases provide for rental escalations related to increases in the lessors’ direct operating expenses. The Company uses the implicit rate in the lease when determinable. As most of the Company’s leases do not have a determinable implicit rate, the Company uses a derived incremental borrowing rate based on borrowing options under its credit agreement. The Company applies a spread over treasury rates for the indicated term of the lease based on the information available on the commencement date of the lease. The Company typically leases general purpose built-out The Company has lease agreements with lease and non-lease 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 and money market funds that represent amounts recorded as 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 maintains allowances, as needed, for estimated credit losses based on management’s assessment of the likelihood of collection. For the nine months ended September 30, 2019 and 2018, no transaction represented 10% or more of total revenues. Further, while one or more transactions may represent 10% or more of commissions receivable at any reporting date, amounts due are typically collected within 10 days of settlement and, therefore, do not expose the Company to significant credit risk. During the three and nine months ended September 30, 2019 and 2018, the Company’s Canadian operations represented less than 1% of total revenues. During the three and nine months ended September 30, 2019 and 2018, no office represented 10% or more of total revenues. Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases On the The adoption of the new standard had a material impact on the Company’s condensed consolidated balance sheet, but did not have a material impact on the Company’s condensed consolidated statements of net and comprehensive income. The Company elected available practical expedients permitted under the guidance, which among other items, allow the Company to (i) carry forward its historical lease classification, (ii) not reassess leases for the definition of “lease” under the new standard, (iii) utilize a discount rate as of the effective date and (iv) not record leases that expired or were terminated prior to the effective date. The Company made an accounting policy election to account for lease and non-lease The Company implemented internal controls and key system functionality to enable the preparation of the required financial information. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities 2017-08”). 2017-08 2017-08 Pending Adoption In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses 2016-13”). 2016-13 2016-13, Company will be required to use an expected-loss model for its marketable securities, available-for available-for-sale available-for-sale In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 2018-13 2018-13 2018-13 In August 2018, the FASB issued ASU No. 2018-15, Internal-Use Software (Subtopic 350-40) - 2018-15”). 2018-15 2018-15 internal-use internal-use 2018-15

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	3. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): September 30, December 31, Computer software and hardware equipment $ 24,489 $ 20,427 Furniture, fixtures, and equipment 23,410 24,227 Less: accumulated depreciation and amortization (26,290 ) (25,104 ) $ 21,609 $ 19,550 During the nine months ended September 30, 2019 and 2018, the Company wrote-off As of September 30, 2019 and 2018, property and equipment additions incurred but not yet paid included in accounts payable and other liabilities were $264,000 and $926,000, respectively.

Operating Leases

Operating Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Operating Leases	4. Operating Leases The Company has operating leases for all of its facilities and autos. As of September 30, 2019, operating lease ROU assets were $105.6 million and the related accumulated amortization was $15.4 million. The operating lease cost consisted of the following (in thousands): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost: Lease cost (1) $ 6,148 $ 18,163 Variable lease cost (2) 1,423 3,913 Sublease income (68 ) (199 ) $ 7,503 $ 21,877 (1) Includes short-term lease cost and ROU asset amortization. (2) Primarily relates to common area maintenance, property taxes, insurance, utilities and parking. Maturities of lease liabilities by fiscal year consisted of the following (in thousands): September 30, Remainder of 2019 $ 5,187 2020 20,724 2021 18,233 2022 14,158 2023 10,959 Thereafter 21,345 Total future minimum lease payments 90,606 Less imputed interest (8,790 ) Present value of operating lease liabilities $ 81,816 Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands): Nine Months Ended September 30, 2019 Operating cash flow information: Cash paid for amounts included in the measurement of operating lease liabilities $ 15,064 Noncash activity: ROU assets obtained in exchange for operating lease liabilities $ 17,806 Tenant improvements owned by lessor related to ROU assets (1) $ 3,642 (1) Reclassification from other assets current. Additional noncash activity in connection with the adoption of the new lease standard on January 1, 2019 included recording of $76.7 million of ROU assets and operating lease liabilities, and reclassifying $7.8 million in prepaid rent and deferred rent to ROU assets. Other information related to the operating leases consisted of the following: September 30, 2019 Weighted average remaining operating lease term 5.18 years Weighted average discount rate 3.9 % Prior to the adoption of the new leases standard (as previously disclosed in the Company’s Annual Report on Form 10-K non-cancelable December 31, 2019 $ 19,649 2020 19,287 2021 16,833 2022 12,368 2023 8,805 Thereafter 10,452 $ 87,394

Investments in Marketable Secur

Investments in Marketable Securities	9 Months Ended
	Sep. 30, 2019
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, September 30, 2019 December 31, 2018 Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value Short-term investments: U.S. treasuries $ 109,208 $ 192 $ (1 ) $ 109,399 $ 121,252 $ 7 $ (79 ) $ 121,180 U.S. government sponsored entities — — — — 3,512 — (7 ) 3,505 Corporate debt securities 15,019 57 — 15,076 11,962 — (11 ) 11,951 Asset-backed securities and other — — — — 806 — (6 ) 800 $ 124,227 $ 249 $ (1 ) $ 124,475 $ 137,532 $ 7 $ (103 ) $ 137,436 Long-term investments: U.S. treasuries $ 30,146 $ 325 $ (15 ) $ 30,456 $ 44,997 $ 128 $ (115 ) $ 45,010 U.S. government sponsored entities 1,415 2 (4 ) 1,413 1,569 — (62 ) 1,507 Corporate debt securities 29,870 980 (8 ) 30,842 32,467 3 (633 ) 31,837 Asset-backed securities and other 7,965 113 (4 ) 8,074 4,889 12 (46 ) 4,855 $ 69,396 $ 1,420 $ (31 ) $ 70,785 $ 83,922 $ 143 $ (856 ) $ 83,209 The amortized cost and fair value of the Company’s investments in available-for-sale September 30, 2019 December 31, 2018 Unrealized Fair Value Unrealized Fair Value Less than 12 months $ (28 ) $ 11,931 $ (576 ) $ 127,326 12 months or longer $ (4 ) $ 1,071 $ (383 ) $ 30,609 Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Gross realized gains (1) $ 58 $ — $ 117 $ 12 Gross realized losses (1) $ — $ — $ (47 ) $ — (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 based on the specific identification method. As of September 30, 2019, the Company considers the declines in market value of its marketable securities, available-for-sale m available-for-sale Amortized cost and fair value of marketable securities, available-for-sale, September 30, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in one year or less $ 124,227 $ 124,475 $ 137,532 $ 137,436 Due after one year through five years 49,754 50,435 61,875 61,846 Due after five years through ten years 14,923 15,601 17,310 16,747 Due after ten years 4,719 4,749 4,737 4,616 $ 193,623 $ 195,260 $ 221,454 $ 220,645 Weighted average contractual maturity 1.9 1.8 Actual maturities may differ from contractual maturities because certain borrowers have the right to prepay certain obligations with or without prepayment penalties.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Goodwill and intangible assets, net consisted of the following (in thousands): September 30, 2019 December 31, 2018 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill and intangible assets: Goodwill (1) $ 11,459 $ — $ 11,459 $ 11,459 $ — $ 11,459 Intangible assets (1) 4,240 (1,052 ) 3,188 4,240 (314 ) 3,926 $ 15,699 $ (1,052 ) $ 14,647 $ 15,699 $ (314 ) $ 15,385 (1) Represents additions from acquisitions. The changes in the carrying amount of goodwill consisted of the following (in thousands): Nine Months Ended September 30, 2019 2018 Beginning balance $ 11,459 $ — Additions from acquisitions — 4,186 Impairment losses — — Ending balance $ 11,459 $ 4,186 Estimated amortization expense for intangible assets for the next five years and thereafter consisted of the following (in thousands): September 30, 2019 Remainder of 2019 $ 205 2020 817 2021 743 2022 621 2023 493 Thereafter 309 $ 3,188

Selected Balance Sheet Data

Selected Balance Sheet Data	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Selected Balance Sheet Data	7. Selected Balance Sheet Data Other Assets Other assets consisted of the following (in thousands): Current Non-Current September 30, 2019 December 31, September 30, 2019 December 31, MSRs, net of amortization $ — $ — $ 2,039 $ 2,209 Due from independent contractors, net (1) (2) 2,381 3,831 48,911 27,157 Security deposits — — 1,313 1,196 Employee notes receivable (3) 150 156 373 370 Customer trust accounts and other 9,821 2,381 796 846 $ 12,352 $ 6,368 $ 53,432 $ 31,778 (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 (2) Includes allowance for doubtful accounts related to current receivables of $404 and $514 as of September 30, 2019 and December 31, 2018, respectively. The Company recorded a provision for bad debt expense of $88 and $81 and wrote-off wrote-off (3) Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable were $60 and $192 for the nine months ended September 30, 2019 and 2018, respectively. See Note 9 – “Related-Party Transactions” for additional information. MSRs The net change in the carrying value of MSRs consisted of the following (in thousands): September 30, 2019 December 31, Beginning balance $ 2,209 $ — Additions from acquisition — 2,121 Additions 243 391 Amortization (413 ) (303 ) Ending balance $ 2,039 $ 2,209 The portfolio of loans serviced by the Company aggregated $1.6 billion as of September 30, 2019 and December 31, 2018. See Note 10 – “Fair Value Measurements” for additional information on MSRs. In connection with MSR activities, the Company holds funds in escrow for the benefit of the lenders. These funds, which totaled $2.6 million and $2.1 million as of September 30, 2019 and December 31, 2018, respectively , Deferred Compensation and Commissions Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current September 30, 2019 December 31, September 30, 2019 December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,895 $ 1,810 $ 18,082 $ 19,299 Commissions payable to investment sales and financing professionals 29,118 44,812 16,858 23,983 Deferred compensation liability (1) 1,437 1,288 6,755 6,605 $ 32,450 $ 47,910 $ 41,695 $ 49,887 (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 have 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 Under the revised agreements, MMI is required to accrue interest on the outstanding balance beginning on January 1, 2014 10-year Estimated payouts within the next twelve months for participants that have separated from service have been classified as current. 185,000 1.6 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 the Marcus & Millichap Deferred Compensation Plan (the “Deferred Compensation Plan”). The Deferred Compensation Plan is a non-qualified the in-service two Estimated payouts within the next twelve months for participants that have separated from service or elected in service payout have been classified as current. The assets held in the rabbi trust are carried at the cash surrender value of the variable life insurance policies, which represents its fair value. 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Increase in the carrying value of the assets held in the rabbi trust (1) $ 31 $ 266 $ 959 $ 456 Increase in the net carrying value of the deferred compensation obligation (2) $ 31 $ 267 $ 943 $ 455 (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. Deferred Rent and Other Liabilities Deferred rent and other liabilities consisted of the following (in thousands): Non-Current September 30, 2019 December 31, Deferred rent (1) $ — $ 5,445 Contingent consideration and other (2) 2,001 2,054 $ 2,001 $ 7,499 (1) The Company does not have deferred rent in 2019 due to adoption of the new lease standard on January 1, 2019. (2) The current portions of contingent consideration in the amounts of $853 and $821 as of September 30, 2019 and December 31, 2018, respectively, are included in accounts payable and other liabilities in the condensed consolidated balance sheets.

Notes Payable to Former Stockho

Notes Payable to Former Stockholders	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Notes Payable to Former Stockholders	8. Notes Payable to Former Stockholders In conjunction with the spin-off 2020

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	9. Related-Party Transactions Shared and Transition Services Certain services are provided to the Company under a Transition Services Agreement (“TSA”) between MMC and the Company. The TSA is intended to provide certain services until the Company acquires the services separately. Under the TSA, the Company incurred net costs during the three months ended September 30, 2019 and 2018 of $21,000 and $20,000, respectively, and during the nine months ended September 30, 2019 and 2018 of $96,000 and $147,000, respectively. These amounts are included in selling, general and administrative expense in the accompanying condensed consolidated statements of net and comprehensive income. 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 September 30, 2019 and 2018, the Company earned real estate brokerage commissions and financing fees of $1.2 million and $1.8 million, respectively, from transactions with subsidiaries of MMC related to these services. The Company incurred cost of services of $688,000 and $1.1 million, respectively, related to these revenues. For the nine months ended September 30, 2019 and 2018, the Company earned real estate brokerage commissions and financing fees of $4.0 million and $4.9 million, respectively, from transactions with subsidiaries of MMC related to these services. The Company incurred cost of services of $2.3 million and $2.9 million, 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. The related operating lease cost for the three months ended September 30, 2019 and 2018 was $333,000 and $257,000, respectively, and for the nine months ended September 30, 2019 and 2018 was $999,000 and $765,000, respectively. Operating lease cost is included in selling, general and administrative expense in the accompanying condensed consolidated statements of net and comprehensive income. See Note 4 – “Operating Leases” for additional information. Accounts Payable and Other Liabilities with MMC As of September 30, 2019 and December 31, 2018, accounts payable and other liabilities with MMC totaling $93,000 and $101,000, respectively, remain unpaid and are included in accounts payable and other liabilities in the accompanying condensed consolidated balance sheets. Other The Company makes advances to non-executive time-to-time. non-current), As of September 30, 2019, George M. Marcus, the Company’s founder and Co-Chairman,

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. 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 investments carried at fair value and the supporting methodologies and assumptions. The Company uses various pricing sources and third parties 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: . Recurring Fair Value Measurements The Company values its investments including commercial paper and floating NAV money market funds recorded in cash and cash equivalents, investments in marketable securities, available-for-sale, available-for-sale Fair values for assets held in the rabbi trust and r e Contingent consideration, in connection with acquisitions, is carried at fair value and determined on a contract-by-contract The Company values MSRs at fair value upon acquisition of a servicing contract. MSRs do not trade in an active, open market with readily observable prices, and are a Level 3 measurement. Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands): September 30, 2019 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets: Assets held in rabbi trust $ 9,102 $ — $ 9,102 $ — $ 8,268 $ — $ 8,268 $ — Cash equivalents (1) Commercial paper and other $ 12,480 $ — $ 12,480 $ — $ 1,599 $ 1,599 $ — $ — Money market funds 167,321 167,321 — — 163,126 163,126 — — $ 179,801 $ 167,321 $ $ — $ 164,725 $ 164,725 $ — $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 109,399 $ 109,399 $ — $ — $ 121,180 $ 121,180 $ — $ — U.S. government sponsored entities — — — — 3,505 — 3,505 — Corporate debt securities 15,076 — 15,076 — 11,951 — 11,951 — Asset-backed securities and other — — — — 800 — 800 — $ 124,475 $ 109,399 $ 15,076 $ — $ 137,436 $ 121,180 $ 16,256 $ — Long-term investments: U.S. treasuries $ 30,456 $ 30,456 $ — $ — $ 45,010 $ 45,010 $ — $ — U.S. government sponsored entities 1,413 — 1,413 — 1,507 — 1,507 — Corporate debt securities 30,842 — 30,842 — 31,837 — 31,837 — Asset-backed securities and other 8,074 — 8,074 — 4,855 — 4,855 — $ 70,785 $ 30,456 $ 40,329 $ — $ 83,209 $ 45,010 $ 38,199 $ — Liabilities: Contingent consideration (2) $ 2,864 $ — $ — $ 2,864 $ 2,875 $ — $ — $ 2,875 Deferred compensation liability $ 8,192 $ 8,192 $ — $ — $ 7,893 $ 7,893 $ — $ — (1) Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets. (2) As of September 30, 2019, contingent consideration has a maximum undiscounted payment of $4.2 million. Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out payments will be made over the next three seven-year September 30, 2019 December 31, Beginning balance $ 2,875 $ — Contingent consideration in connection with acquisitions — 2,674 Change in fair value of contingent consideration (11 ) 201 Payments of contingent consideration — — Ending balance $ 2,864 $ 2,875 There were no transfers in or out of Level 1, Level 2 and Level 3 during the nine months ended September 30, 2019. Nonrecurring Fair Value Measurements The Company reviews the carrying value of MSRs, intangibles, goodwill and other assets for indications of impairment quarterly. When indications of potential impairment are identified, the Company may be required to determine the fair value of those assets and record an adjustment for the carrying amount in excess of the fair value determined. Any fair value determination would be based on valuation approaches , which appropriate under

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Federal Home Loan Banks [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Common Stock As of September 30, 2019 and December 31, 2018, there were 39,132,236 and 38,814,464 shares of common stock, $0.0001 par value, issued and outstanding, which include 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 September 30, 2019 and December 31, 2018, there were no preferred shares issued or outstanding. Accumulated Other Comprehensive Income/Loss Amounts reclassified from accumulated other comprehensive income/loss are 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. 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	9 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	12. Stock-Based Compensation Plans 2013 Omnibus Equity Incentive Plan The Company’s board of directors adopted the 2013 Omnibus Equity Incentive Plan (the “2013 Plan”), which became effective upon the Company’s IPO. In February 2017, the board of directors amended and restated the 2013 Plan, which was approved by the Company’s stockholders in May 2017. Grants are made from time to time by the compensation committee of 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. In addition, non-employee Awards Granted and Settled Under the 2013 Plan, the Company has issued restricted stock awards (“RSAs”) to non-employee one-year During the nine months ended September 30, 2019, 366,476 shares of RSUs were vested and delivered. Additionally, 72,532 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, 2018 27,096 471,782 392,697 891,575 $ Granted 12,806 241,932 76,642 331,380 38.62 Vested (22,422 ) (182,714 ) (183,762 ) (388,898 ) 24.11 Transferred — (8,136 ) 8,136 — 29.68 Forfeited/canceled — (8,119 ) (32,354 ) (40,473 ) 30.99 Nonvested shares at September 30, 2019 (1) 17,480 514,745 261,359 793,584 $ 33.73 Unrecognized stock-based compensation expense as of (2) $ 397 $ 14,629 $ 8,473 $ 23,499 Weighted average remaining vesting period (years) as of September 30, 2019 0.63 3.70 3.45 3.56 (1) Nonvested RSUs 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 ​​​​​​​3.56 years. Employee Stock Purchase Plan In 2013, the Company adopted the 2013 Employee Stock Purchase Plan (“ESPP”). The ESPP is intended to qualify non-overlapping 6-month 6-month The ESPP initially had 366,667 shares of common stock reserved , SARs and Deferred Stock Units (“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 were settled in actual stock at a rate of 20% per year if the participant remained 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. Future share settlements of fully vested DSUs by year consisted of the following: September 30, 2021 60,373 2022 281,193 341,566 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 and Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 ESPP $ 40 $ 37 $ 108 $ 100 RSAs – non-employee 157 182 481 458 RSUs – employees (1) 1,230 1,112 4,197 3,161 RSUs – independent contractors (2) 687 1,816 2,254 5,200 $ $ $ $ (1) 2019 includes expense related to the acceleration of vesting of certain RSUs. (2) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees​​​​​​​. 2018-07 non-employee

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective tax rate for the three and nine months ended September 30, 2019 was 26.7% and 27.3%, respectively, compared to 28.5% and 27.2% for the three and nine months ended September 30, 2018, 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 (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amount Rate Amount Rate Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 21.0 % $ 21.0 % $ 21.0 % $ 21.0 % State income tax expense, net of federal benefit 1,118 4.2 % 1,462 5.0 % 3,359 4.3 % 3,974 4.7 % Windfall (shortfall) tax benefits, net related to stock-based compensation 53 0.2 % (17 ) (0.1 )% (201 ) (0.2 )% (261 ) (0.3 )% Change in valuation allowance 408 1.6 % 162 0.6 % 874 1.1 % 284 0.3 % Permanent and other items (1) (81 ) (0.3 )% 583 2.0 % 880 1.1 % 1,176 1.5 % $ 7,024 26.7 % $ 8,315 28.5 % $ 21,159 27.3 % $ 22,772 27.2 % (1) Permanent items relate principally to compensation charges, qualified transportation fringe benefits, reversal of uncertain tax positions and meals and entertainment.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	14. Earnings per Share Basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018, respectively consisted of the following (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator (Basic and Diluted): Net income $ $ $ $ Denominator: Basic Weighted average common shares issued and outstanding 39,116 38,641 39,062 38,598 Deduct: Unvested RSAs (1) (17 ) (29 ) (21 ) (30 ) Add: Fully vested DSUs (2) 342 579 342 579 Weighted Average Common Shares Outstanding 39,441 39,191 39,383 39,147 Basic earnings per common share $ 0.49 $ 0.53 $ 1.43 $ 1.56 Diluted Weighted Average Common Shares Outstanding from above 39,441 39,191 39,383 39,147 Add: Dilutive effect of RSUs, RSAs & ESPP 109 293 144 212 Weighted Average Common Shares Outstanding 39,550 39,484 39,527 39,359 Diluted earnings per common share $ 0.49 $ 0.53 $ 1.42 $ 1.55 Antidilutive shares excluded from diluted earnings per common share (3) 425 76 325 250 (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 12 – “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	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Credit Agreement On June 18, 2014, the Company entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Bank”), dated as of June 1, 2014, which was amended and restated on May 28, 2019 (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”) and matures on June 1, 2022. 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 September 30, 2019. Borrowings under the Credit Facility will bear interest, at the Company’s option, at either (i) a fluctuating rate per annum 2.00% below the Base Rate (defined as the highest of (a) the Bank’s prime rate, (b) one-month the amendment of 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, determined on a rolling four-quarter basis, and (ii) total funded debt to EBITDA not greater than 2.0:1.0 as of each quarter end, determined on a rolling four-quarter basis, and also limit investments in foreign entities and cap certain other loans. The Credit Facility is secured by substantially all assets of the Company, including pledges of 100% of the stock or other equity interest of each subsidiary except for the capital stock of a controlled foreign corporation (as defined in the Internal Revenue Code), in which case no such pledge is required. As of September 30, 2019, the Company was in compliance with all financial and non-financial Other In connection with certain agreements with current and prospective investment sales and financing professionals, the Company has commitments as of September 30, 2019 and December 31, 2018, aggregating $0.7 million and $1.0 million, respectively, including amounts committed to through the date these condensed consolidated financial statements were issued. These commitments are subject to various conditions and/or reaching of performance goals.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events In October 2019, the Company completed the acquisition of a real estate brokerage firm in Canada .

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019, MMI operated 82 offices in the United States and Canada through its wholly-owned subsidiaries, including the operations of Marcus & Millichap Capital Corporation .
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 October 30, 2013 .
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 10-01 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.
Segment Reporting	Segment Reporting The Company follows U.S. GAAP 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 our customers including real estate investment sales, financing (including mortgage servicing rights revenue) 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.
Reclassifications	Reclassifications Certain prior-period amounts in Note 13 – “Income Taxes” have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations or any totals or subtotals therein.
Leases	Leases The Company utilizes operating leases for all its facilities and autos. The Company determines if an arrangement is a lease at inception. Right-of-use non-current, non-current Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Lease agreements may contain periods of free rent or reduced rent, predetermined fixed increases in the minimum rent and renewal or termination options, all of which impact the determination of the lease term and lease payments to be used in calculating the lease liability. Certain facility leases provide for rental escalations related to increases in the lessors’ direct operating expenses. The Company uses the implicit rate in the lease when determinable. As most of the Company’s leases do not have a determinable implicit rate, the Company uses a derived incremental borrowing rate based on borrowing options under its credit agreement. The Company applies a spread over treasury rates for the indicated term of the lease based on the information available on the commencement date of the lease. The Company typically leases general purpose built-out The Company has lease agreements with lease and non-lease
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 and money market funds that represent amounts recorded as 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 maintains allowances, as needed, for estimated credit losses based on management’s assessment of the likelihood of collection. For the nine months ended September 30, 2019 and 2018, no transaction represented 10% or more of total revenues. Further, while one or more transactions may represent 10% or more of commissions receivable at any reporting date, amounts due are typically collected within 10 days of settlement and, therefore, do not expose the Company to significant credit risk. During the three and nine months ended September 30, 2019 and 2018, the Company’s Canadian operations represented less than 1% of total revenues. During the three and nine months ended September 30, 2019 and 2018, no office represented 10% or more of total revenues.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases On the The adoption of the new standard had a material impact on the Company’s condensed consolidated balance sheet, but did not have a material impact on the Company’s condensed consolidated statements of net and comprehensive income. The Company elected available practical expedients permitted under the guidance, which among other items, allow the Company to (i) carry forward its historical lease classification, (ii) not reassess leases for the definition of “lease” under the new standard, (iii) utilize a discount rate as of the effective date and (iv) not record leases that expired or were terminated prior to the effective date. The Company made an accounting policy election to account for lease and non-lease The Company implemented internal controls and key system functionality to enable the preparation of the required financial information. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities 2017-08”). 2017-08 2017-08 Pending Adoption In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses 2016-13”). 2016-13 2016-13, Company will be required to use an expected-loss model for its marketable securities, available-for available-for-sale available-for-sale In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 2018-13 2018-13 2018-13 In August 2018, the FASB issued ASU No. 2018-15, Internal-Use Software (Subtopic 350-40) - 2018-15”). 2018-15 2018-15 internal-use internal-use 2018-15

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): September 30, December 31, Computer software and hardware equipment $ 24,489 $ 20,427 Furniture, fixtures, and equipment 23,410 24,227 Less: accumulated depreciation and amortization (26,290 ) (25,104 ) $ 21,609 $ 19,550

Operating Leases (Tables)

Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Operating Lease Cost	The operating lease cost consisted of the following (in thousands): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost: Lease cost (1) $ 6,148 $ 18,163 Variable lease cost (2) 1,423 3,913 Sublease income (68 ) (199 ) $ 7,503 $ 21,877 (1) Includes short-term lease cost and ROU asset amortization. (2) Primarily relates to common area maintenance, property taxes, insurance, utilities and parking.
Maturities of lease liabilities	Maturities of lease liabilities by fiscal year consisted of the following (in thousands): September 30, Remainder of 2019 $ 5,187 2020 20,724 2021 18,233 2022 14,158 2023 10,959 Thereafter 21,345 Total future minimum lease payments 90,606 Less imputed interest (8,790 ) Present value of operating lease liabilities $ 81,816
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands): Nine Months Ended September 30, 2019 Operating cash flow information: Cash paid for amounts included in the measurement of operating lease liabilities $ 15,064 Noncash activity: ROU assets obtained in exchange for operating lease liabilities $ 17,806 Tenant improvements owned by lessor related to ROU assets (1) $ 3,642 (1) Reclassification from other assets current.
Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases	Other information related to the operating leases consisted of the following: September 30, 2019 Weighted average remaining operating lease term 5.18 years Weighted average discount rate 3.9 %
Schedule of Other Information Related to Operating Leases	Prior to the adoption of the new leases standard (as previously disclosed in the Company’s Annual Report on Form 10-K non-cancelable December 31, 2019 $ 19,649 2020 19,287 2021 16,833 2022 12,368 2023 8,805 Thereafter 10,452 $ 87,394

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2019
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, September 30, 2019 December 31, 2018 Amortized Gross Gross Fair Value Amortized Gross Gross Fair Value Short-term investments: U.S. treasuries $ 109,208 $ 192 $ (1 ) $ 109,399 $ 121,252 $ 7 $ (79 ) $ 121,180 U.S. government sponsored entities — — — — 3,512 — (7 ) 3,505 Corporate debt securities 15,019 57 — 15,076 11,962 — (11 ) 11,951 Asset-backed securities and other — — — — 806 — (6 ) 800 $ 124,227 $ 249 $ (1 ) $ 124,475 $ 137,532 $ 7 $ (103 ) $ 137,436 Long-term investments: U.S. treasuries $ 30,146 $ 325 $ (15 ) $ 30,456 $ 44,997 $ 128 $ (115 ) $ 45,010 U.S. government sponsored entities 1,415 2 (4 ) 1,413 1,569 — (62 ) 1,507 Corporate debt securities 29,870 980 (8 ) 30,842 32,467 3 (633 ) 31,837 Asset-backed securities and other 7,965 113 (4 ) 8,074 4,889 12 (46 ) 4,855 $ 69,396 $ 1,420 $ (31 ) $ 70,785 $ 83,922 $ 143 $ (856 ) $ 83,209
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 September 30, 2019 December 31, 2018 Unrealized Fair Value Unrealized Fair Value Less than 12 months $ (28 ) $ 11,931 $ (576 ) $ 127,326 12 months or longer $ (4 ) $ 1,071 $ (383 ) $ 30,609
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Gross realized gains (1) $ 58 $ — $ 117 $ 12 Gross realized losses (1) $ — $ — $ (47 ) $ — (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 based 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, September 30, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in one year or less $ 124,227 $ 124,475 $ 137,532 $ 137,436 Due after one year through five years 49,754 50,435 61,875 61,846 Due after five years through ten years 14,923 15,601 17,310 16,747 Due after ten years 4,719 4,749 4,737 4,616 $ 193,623 $ 195,260 $ 221,454 $ 220,645 Weighted average contractual maturity 1.9 1.8

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	Goodwill and intangible assets, net consisted of the following (in thousands): September 30, 2019 December 31, 2018 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill and intangible assets: Goodwill (1) $ 11,459 $ — $ 11,459 $ 11,459 $ — $ 11,459 Intangible assets (1) 4,240 (1,052 ) 3,188 4,240 (314 ) 3,926 $ 15,699 $ (1,052 ) $ 14,647 $ 15,699 $ (314 ) $ 15,385 (1) Represents additions from acquisitions.
Summary of Changes in Carrying Carrying Amount of Goodwill	The changes in the carrying amount of goodwill consisted of the following (in thousands): Nine Months Ended September 30, 2019 2018 Beginning balance $ 11,459 $ — Additions from acquisitions — 4,186 Impairment losses — — Ending balance $ 11,459 $ 4,186
Schedule of Estimated Amortization Expense for Intangible Assets	Estimated amortization expense for intangible assets for the next five years and thereafter consisted of the following (in thousands): September 30, 2019 Remainder of 2019 $ 205 2020 817 2021 743 2022 621 2023 493 Thereafter 309 $ 3,188

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): Current Non-Current September 30, 2019 December 31, September 30, 2019 December 31, MSRs, net of amortization $ — $ — $ 2,039 $ 2,209 Due from independent contractors, net (1) (2) 2,381 3,831 48,911 27,157 Security deposits — — 1,313 1,196 Employee notes receivable (3) 150 156 373 370 Customer trust accounts and other 9,821 2,381 796 846 $ 12,352 $ 6,368 $ 53,432 $ 31,778 (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 (2) Includes allowance for doubtful accounts related to current receivables of $404 and $514 as of September 30, 2019 and December 31, 2018, respectively. The Company recorded a provision for bad debt expense of $88 and $81 and wrote-off wrote-off (3) Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable were $60 and $192 for the nine months ended September 30, 2019 and 2018, respectively. See Note 9 – “Related-Party Transactions” for additional information.
Summary of Net Change in Carrying Value of MSRs	The net change in the carrying value of MSRs consisted of the following (in thousands): September 30, 2019 December 31, Beginning balance $ 2,209 $ — Additions from acquisition — 2,121 Additions 243 391 Amortization (413 ) (303 ) Ending balance $ 2,039 $ 2,209
Components of Deferred Compensation and Commissions	Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current September 30, 2019 December 31, September 30, 2019 December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,895 $ 1,810 $ 18,082 $ 19,299 Commissions payable to investment sales and financing professionals 29,118 44,812 16,858 23,983 Deferred compensation liability (1) 1,437 1,288 6,755 6,605 $ 32,450 $ 47,910 $ 41,695 $ 49,887 (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 have 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Increase in the carrying value of the assets held in the rabbi trust (1) $ 31 $ 266 $ 959 $ 456 Increase in the net carrying value of the deferred compensation obligation (2) $ 31 $ 267 $ 943 $ 455 (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.
Summary of Deferred Rent and Other Liabilities	Deferred rent and other liabilities consisted of the following (in thousands): Non-Current September 30, 2019 December 31, Deferred rent (1) $ — $ 5,445 Contingent consideration and other (2) 2,001 2,054 $ 2,001 $ 7,499 (1) The Company does not have deferred rent in 2019 due to adoption of the new lease standard on January 1, 2019. (2) The current portions of contingent consideration in the amounts of $853 and $821 as of September 30, 2019 and December 31, 2018, respectively, are included in accounts payable and other liabilities in the condensed consolidated balance sheets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and liabilities at Fair Value on Recurring Basis	Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands): September 30, 2019 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets: Assets held in rabbi trust $ 9,102 $ — $ 9,102 $ — $ 8,268 $ — $ 8,268 $ — Cash equivalents (1) Commercial paper and other $ 12,480 $ — $ 12,480 $ — $ 1,599 $ 1,599 $ — $ — Money market funds 167,321 167,321 — — 163,126 163,126 — — $ 179,801 $ 167,321 $ $ — $ 164,725 $ 164,725 $ — $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 109,399 $ 109,399 $ — $ — $ 121,180 $ 121,180 $ — $ — U.S. government sponsored entities — — — — 3,505 — 3,505 — Corporate debt securities 15,076 — 15,076 — 11,951 — 11,951 — Asset-backed securities and other — — — — 800 — 800 — $ 124,475 $ 109,399 $ 15,076 $ — $ 137,436 $ 121,180 $ 16,256 $ — Long-term investments: U.S. treasuries $ 30,456 $ 30,456 $ — $ — $ 45,010 $ 45,010 $ — $ — U.S. government sponsored entities 1,413 — 1,413 — 1,507 — 1,507 — Corporate debt securities 30,842 — 30,842 — 31,837 — 31,837 — Asset-backed securities and other 8,074 — 8,074 — 4,855 — 4,855 — $ 70,785 $ 30,456 $ 40,329 $ — $ 83,209 $ 45,010 $ 38,199 $ — Liabilities: Contingent consideration (2) $ 2,864 $ — $ — $ 2,864 $ 2,875 $ — $ — $ 2,875 Deferred compensation liability $ 8,192 $ 8,192 $ — $ — $ 7,893 $ 7,893 $ — $ — (1) Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets. (2) As of September 30, 2019, contingent consideration has a maximum undiscounted payment of $4.2 million. Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out payments will be made over the next three seven-year
Schedule of Reconciliation of Contingent Consideration Measured at Fair Value on Recurring Basis	Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out payments will be made over the next three seven-year September 30, 2019 December 31, Beginning balance $ 2,875 $ — Contingent consideration in connection with acquisitions — 2,674 Change in fair value of contingent consideration (11 ) 201 Payments of contingent consideration — — Ending balance $ 2,864 $ 2,875

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2018 27,096 471,782 392,697 891,575 $ Granted 12,806 241,932 76,642 331,380 38.62 Vested (22,422 ) (182,714 ) (183,762 ) (388,898 ) 24.11 Transferred — (8,136 ) 8,136 — 29.68 Forfeited/canceled — (8,119 ) (32,354 ) (40,473 ) 30.99 Nonvested shares at September 30, 2019 (1) 17,480 514,745 261,359 793,584 $ 33.73 Unrecognized stock-based compensation expense as of (2) $ 397 $ 14,629 $ 8,473 $ 23,499 Weighted average remaining vesting period (years) as of September 30, 2019 0.63 3.70 3.45 3.56 (1) Nonvested RSUs 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 ​​​​​​​3.56 years.
Schedule of Future Share Settlements	Future share settlements of fully vested DSUs by year consisted of the following: September 30, 2021 60,373 2022 281,193 341,566
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 and Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 ESPP $ 40 $ 37 $ 108 $ 100 RSAs – non-employee 157 182 481 458 RSUs – employees (1) 1,230 1,112 4,197 3,161 RSUs – independent contractors (2) 687 1,816 2,254 5,200 $ $ $ $ (1) 2019 includes expense related to the acceleration of vesting of certain RSUs. (2) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees​​​​​​​. 2018-07 non-employee

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2019
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 (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Amount Rate Amount Rate Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 21.0 % $ 21.0 % $ 21.0 % $ 21.0 % State income tax expense, net of federal benefit 1,118 4.2 % 1,462 5.0 % 3,359 4.3 % 3,974 4.7 % Windfall (shortfall) tax benefits, net related to stock-based compensation 53 0.2 % (17 ) (0.1 )% (201 ) (0.2 )% (261 ) (0.3 )% Change in valuation allowance 408 1.6 % 162 0.6 % 874 1.1 % 284 0.3 % Permanent and other items (1) (81 ) (0.3 )% 583 2.0 % 880 1.1 % 1,176 1.5 % $ 7,024 26.7 % $ 8,315 28.5 % $ 21,159 27.3 % $ 22,772 27.2 % (1) Permanent items relate principally to compensation charges, qualified transportation fringe benefits, reversal of uncertain tax positions and meals and entertainment.

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2019
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 and nine months ended September 30, 2019 and 2018, respectively consisted of the following (in thousands, except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator (Basic and Diluted): Net income $ $ $ $ Denominator: Basic Weighted average common shares issued and outstanding 39,116 38,641 39,062 38,598 Deduct: Unvested RSAs (1) (17 ) (29 ) (21 ) (30 ) Add: Fully vested DSUs (2) 342 579 342 579 Weighted Average Common Shares Outstanding 39,441 39,191 39,383 39,147 Basic earnings per common share $ 0.49 $ 0.53 $ 1.43 $ 1.56 Diluted Weighted Average Common Shares Outstanding from above 39,441 39,191 39,383 39,147 Add: Dilutive effect of RSUs, RSAs & ESPP 109 293 144 212 Weighted Average Common Shares Outstanding 39,550 39,484 39,527 39,359 Diluted earnings per common share $ 0.49 $ 0.53 $ 1.42 $ 1.55 Antidilutive shares excluded from diluted earnings per common share (3) 425 76 325 250 (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 12 – “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 B_3

Description of Business and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019Office
Class of Stock [Line Items]
Number of offices in the United States and Canada	82
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 Recen_2

Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Office	Sep. 30, 2018Office	Sep. 30, 2019USD ($)Office	Sep. 30, 2018Office	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Line Items]
Commission's receivable settled period			10 days
Number of offices | Office			82
Operating lease right-of-use assets	$ 90,165,000		$ 90,165,000			$ 0
Operating lease liabilities	81,816,000		81,816,000
Prepaid Rent Reclassified to Other Assets, Current	$ 12,352,000		$ 12,352,000			$ 6,368,000
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%	10.00%	10.00%
Number of offices | Office	0	0	0	0
Accounting Standards Update 2016-02 [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets					$ 76,700,000
Operating lease liabilities					76,700,000
Prepaid Rent Reclassified to Other Assets, Current					462,000
Accounting Standards Update 2016-02 [Member] | Deferred rent reclassified to Operating Lease ROU Asset [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets					5,600,000
Accounting Standards Update 2016-02 [Member] | Prepaid rent reclassified to Operating Lease ROU Asset [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets					$ 13,400,000
Accounting Standards Update 2018-13 [Member]
Accounting Policies [Line Items]
Contingent consideration liability	$ 2,900,000		$ 2,900,000
Accounting Standards Update 2018-13 [Member] | Fair Value, Inputs, Level 3 [Member]
Accounting Policies [Line Items]
Mortgage servicing rights	$ 2,000,000		$ 2,000,000
Maximum [Member] | Geographic Concentration Risk [Member] | Total revenues [Member] | International Revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	1.00%	1.00%	1.00%	1.00%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (26,290)	$ (25,104)
Property and equipment, net	21,609	19,550
Computer software and hardware equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	24,489	20,427
Furniture, fixtures, and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 23,410	$ 24,227

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Fully depreciated computer software and hardware equipment and furniture, fixtures and equipment write-off	$ 3,300,000	$ 1,400,000
Property and equipment additions incurred but not yet paid	$ 264,000	$ 926,000

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) - USD ($) $ in Millions	Jan. 01, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease right-of-use assets		$ 105.6
Operating lease right-of-use assets, accumulated amortization		$ 15.4
ROU assets and operating lease liabilities in connection with adoption of new lease standard	$ 76.7
Reclassification of prepaid rent and deferred rent to ROU assets in connection with adoption of new lease standard	$ 7.8

Operating Leases - Schedule of

Operating Leases - Schedule of Operating Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating lease cost:
Lease cost	$ 6,148	$ 18,163
Variable lease cost	1,423	3,913
Sublease income	(68)	(199)
Total operating lease cost	$ 7,503	$ 21,877

Operating Leases - Maturities o

Operating Leases - Maturities of lease liabilities (Detail) $ in Thousands	Sep. 30, 2019USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2019	$ 5,187
2020	20,724
2021	18,233
2022	14,158
2023	10,959
Thereafter	21,345
Total future minimum lease payments	90,606
Less imputed interest	(8,790)
Present value of operating lease liabilities	$ 81,816

Operating Leases - Schedule o_2

Operating Leases - Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Operating cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$ 15,064
Noncash activity:
ROU assets obtained in exchange for operating lease liabilities	17,806
Tenant improvements owned by lessor related to ROU assets	$ 3,642

Operating Leases - Schedule o_3

Operating Leases - Schedule of Other Information Related to Operating Leases (Detail)	Sep. 30, 2019
Leases, Operating [Abstract]
Weighted average remaining operating lease term	5 years 2 months 4 days
Weighted average discount rate	3.90%

Operating Leases - Schedule o_4

Operating Leases - Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Leases, Operating [Abstract]
2019	$ 19,649
2020	19,287
2021	16,833
2022	12,368
2023	8,805
Thereafter	10,452
Total future minimum lease payments	$ 87,394

Investments in Marketable Sec_3

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	Sep. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 193,623	$ 221,454
Fair Value	195,260	220,645
Short-term investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	124,227	137,532
Gross Unrealized Gains	249	7
Gross Unrealized Losses	(1)	(103)
Fair Value	124,475	137,436
Short-term investments [Member] | U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	109,208	121,252
Gross Unrealized Gains	192	7
Gross Unrealized Losses	(1)	(79)
Fair Value	109,399	121,180
Short-term investments [Member] | U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0	3,512
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(7)
Fair Value	0	3,505
Short-term investments [Member] | Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,019	11,962
Gross Unrealized Gains	57	0
Gross Unrealized Losses	0	(11)
Fair Value	15,076	11,951
Short-term investments [Member] | Asset-backed securities and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0	806
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(6)
Fair Value	0	800
Long-term marketable securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	69,396	83,922
Gross Unrealized Gains	1,420	143
Gross Unrealized Losses	(31)	(856)
Fair Value	70,785	83,209
Long-term marketable securities [Member] | U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	30,146	44,997
Gross Unrealized Gains	325	128
Gross Unrealized Losses	(15)	(115)
Fair Value	30,456	45,010
Long-term marketable securities [Member] | U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,415	1,569
Gross Unrealized Gains	2	0
Gross Unrealized Losses	(4)	(62)
Fair Value	1,413	1,507
Long-term marketable securities [Member] | Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	29,870	32,467
Gross Unrealized Gains	980	3
Gross Unrealized Losses	(8)	(633)
Fair Value	30,842	31,837
Long-term marketable securities [Member] | Asset-backed securities and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,965	4,889
Gross Unrealized Gains	113	12
Gross Unrealized Losses	(4)	(46)
Fair Value	$ 8,074	$ 4,855

Investments in Marketable Sec_4

Investments in Marketable Securities - Amortized Cost and Fair Value of Investments in Available for Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Available for sale securities continuous unrealized loss position for less than 12 months, unrealized loss	$ (28)	$ (576)
Available for sale securities continuous unrealized loss position for 12 months or longer, unrealized loss	(4)	(383)
Available for sale securities continuous unrealized loss position for less than 12 months, fair value	11,931	127,326
Available for sale securities continuous unrealized loss position for 12 months or longer, fair value	$ 1,071	$ 30,609

Investments in Marketable Sec_5

Investments in Marketable Securities - Gross Realized Gains and Losses from Sale of Available for Sale Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 58	$ 0	$ 117	$ 12
Gross realized losses	$ 0	$ 0	$ (47)	$ 0

Investments in Marketable Sec_6

Investments in Marketable Securities - Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 124,227	$ 137,532
Due after one year through five years, Amortized Cost	49,754	61,875
Due after five years through ten years, Amortized Cost	14,923	17,310
Due after ten years, Amortized Cost	4,719	4,737
Amortized Cost	193,623	221,454
Due in one year or less, Fair Value	124,475	137,436
Due after one year through five years, Fair Value	50,435	61,846
Due after five years through ten years, Fair Value	15,601	16,747
Due after ten years, Fair Value	4,749	4,616
Total Fair Value	$ 195,260	$ 220,645
Weighted average contractual maturity	1 year 10 months 24 days	1 year 9 months 18 days

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, gross carrying amount	$ 11,459	$ 11,459
Intangible assets, gross carrying amount	4,240	4,240
Goodwill and intangible assets, gross carrying amount, total	15,699	15,699
Goodwill, accumulated amortization	0	0
Intangible assets, accumulated amortization	(1,052)	(314)
Goodwill, net book value	11,459	11,459	$ 4,186	$ 0
Intangible assets, net book value	3,188	3,926
Goodwill and intangible assets, net book value	$ 14,647	$ 15,385

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Net Change in Carrying Value of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Beginning balance	$ 11,459	$ 0
Additions from acquisitions	0	4,186
Impairment losses	0	0
Ending balance	$ 11,459	$ 4,186

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2019	$ 205
2020	817
2021	743
2022	621
2023	493
Thereafter	309
Total	$ 3,188	$ 3,926

Selected Balance Sheet Data - S

Selected Balance Sheet Data - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Assets [Line Items]
Other assets Current	$ 12,352	$ 6,368
Other assets Non-Current	53,432	31,778
Mortgage servicing rights [Member]
Other Assets [Line Items]
Other assets Current	0	0
Other assets Non-Current	2,039	2,209
Due from independent contractors, net [Member]
Other Assets [Line Items]
Other assets Current	2,381	3,831
Other assets Non-Current	48,911	27,157
Security deposits [Member]
Other Assets [Line Items]
Other assets Current	0	0
Other assets Non-Current	1,313	1,196
Employee Notes Receivable [Member]
Other Assets [Line Items]
Other assets Current	150	156
Other assets Non-Current	373	370
Customer trust accounts and other [Member]
Other Assets [Line Items]
Other assets Current	9,821	2,381
Other assets Non-Current	$ 796	$ 846

Selected Balance Sheet Data -_2

Selected Balance Sheet Data - Schedule of Other Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Other Assets [Line Items]
Allowance of doubtful accounts	$ 404		$ 404		$ 514
Provision of bad debt expense	88	$ 81	75	$ 52
Write-off receivables	$ 82	$ 17	185	72
Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable			$ 60	$ 192
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 -_3

Selected Balance Sheet Data - Summary of Net Change in Carrying Value of MSRs (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning balance	$ 2,209	$ 0
Additions from acquisition	0	2,121
Additions	243	391
Amortization	(413)	(303)
Ending balance	$ 2,039	$ 2,209

Selected Balance Sheet Data - A

Selected Balance Sheet Data - Additional Information (Detail)	Jan. 01, 2019	Jan. 01, 2018	Jan. 01, 2014	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Installments	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2013USD ($)
Schedule Of Accrued Expenses [Line Items]
Servicing portfolio of commercial real estate loans, unpaid principal balance				$ 1,600,000,000		$ 1,600,000,000		$ 1,600,000,000
SARs frozen liability amount				18,082,000		18,082,000		19,299,000
Interest expense				329,000	$ 342,000	$ 1,018,000	$ 1,054,000
Maximum payment deferral period for certain commissions payable						3 years
Mortgage servicing rights [Member]
Schedule Of Accrued Expenses [Line Items]
Escrow Funds				2,600,000		$ 2,600,000		$ 2,100,000
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 number of annual installments | Installments						10
SARs liability interest accrual commencement date						Jan. 1, 2014
SARs liability interest accrual rates	4.684%	4.409%
Interest expense				$ 226,000	$ 220,000	$ 678,000	669,000
Treasury note term			10 years
Base spread on SARs liability variable rate			2.00%
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						$ 1,800,000	1,700,000
Sars liability principal paid						185,000
Sars liability interest paid						$ 1,600,000
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 or elected in service payout have been classified as current.
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%
Payments made during the period						$ 1,300,000	$ 946,000

Selected Balance Sheet Data - C

Selected Balance Sheet Data - Components of Deferred Compensation and Commissions (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock appreciation rights ("SARs") liability	$ 1,895	$ 1,810
Deferred compensation liability	1,437	1,288
Deferred compensation and commissions, current	32,450	47,910
Stock appreciation rights ("SARs") liability	18,082	19,299
Deferred compensation liability	6,755	6,605
Deferred compensation and commissions, non-current	41,695	49,887
Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	29,118	44,812
Non-Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	$ 16,858	$ 23,983

Selected Balance Sheet Data -_4

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Balance Sheet Related Disclosures [Abstract]
Increase in the carrying value of the assets held in the rabbi trust	$ 31	$ 266	$ 959	$ 456
Increase in the net carrying value of the deferred compensation obligation	$ 31	$ 267	$ 943	$ 455

Selected Balance Sheet Data -_5

Selected Balance Sheet Data - Summary of Deferred Rent and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deferred Rent And Other Liabilities [Abstract]
Deferred rent	$ 0	$ 5,445
Contingent consideration and other	2,001	2,054
Deferred rent and other liabilities	$ 2,001	$ 7,499

Selected Balance Sheet Data -_6

Selected Balance Sheet Data - Summary of Deferred Rent and Other Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts Payable and Accrued Liabilities [Member]
Deferred Rent and other liabilities [Line Items]
Contingent consideration, current	$ 853	$ 821

Notes Payable to Former Stock_2

Notes Payable to Former Stockholders - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 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 Stockholders [Member]
Debt Instrument [Line Items]
Principal and interest payments on notes payable to former stockholders	$ 1.5	$ 1.5

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Operating lease cost	$ 6,148,000		$ 18,163,000
Aggregate principal amount for employee notes receivable	523,000		523,000		$ 526,000
MMC [Member]
Related Party Transaction [Line Items]
Real estate brokerage commissions and financing fees from transactions with subsidiaries of Marcus & Millichap Company	1,200,000	$ 1,800,000	4,000,000	$ 4,900,000
Commission expenses for transactions with subsidiaries of Marcus & Millichap Company	688,000	1,100,000	2,300,000	2,900,000
Operating lease cost	333,000	257,000	$ 999,000	765,000
Lease expiration date			May 31, 2022
Accounts payable and other liabilities - related party	93,000		$ 93,000		$ 101,000
MMC [Member] | Transition Services Agreement [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expense	$ 21,000	$ 20,000	$ 96,000	$ 147,000
George M. Marcus [Member]
Related Party Transaction [Line Items]
Beneficial ownership percentage			40.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	$ 9,102	$ 8,268
Marketable securities, available for sale	195,260	220,645
Deferred compensation liability	8,192	7,893
Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	124,475	137,436
Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	70,785	83,209
U.S. Treasuries [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	109,399	121,180
U.S. Treasuries [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,456	45,010
U.S. Government Sponsored Entities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
U.S. Government Sponsored Entities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,413	1,507
Corporate debt securities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	15,076	11,951
Corporate debt securities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,842	31,837
Asset-backed securities and other [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	800
Asset-backed securities and other [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	8,074	4,855
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	179,801	164,725
Recurring [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	124,475	137,436
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	70,785	83,209
Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	12,480	1,599
Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	167,321	163,126
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	9,102	8,268
Recurring [Member] | U.S. Treasuries [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	109,399	121,180
Recurring [Member] | U.S. Treasuries [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,456	45,010
Recurring [Member] | U.S. Government Sponsored Entities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
Recurring [Member] | U.S. Government Sponsored Entities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,413	1,507
Recurring [Member] | Corporate debt securities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	15,076	11,951
Recurring [Member] | Corporate debt securities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,842	31,837
Recurring [Member] | Asset-backed securities and other [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	800
Recurring [Member] | Asset-backed securities and other [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	8,074	4,855
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	8,192	7,893
Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	167,321	164,725
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	109,399	121,180
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	30,456	45,010
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	1,599
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	167,321	163,126
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] | U.S. Treasuries [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	109,399	121,180
Level 1 [Member] | Recurring [Member] | U.S. Treasuries [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,456	45,010
Level 1 [Member] | Recurring [Member] | U.S. Government Sponsored Entities [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 1 [Member] | Recurring [Member] | U.S. Government Sponsored Entities [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 1 [Member] | Recurring [Member] | Corporate debt securities [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 1 [Member] | Recurring [Member] | Corporate debt securities [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 1 [Member] | Recurring [Member] | Asset-backed securities and other [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 1 [Member] | Recurring [Member] | Asset-backed securities and other [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 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	12,480	0
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	15,076	16,256
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	40,329	38,199
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	12,480	0
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	9,102	8,268
Level 2 [Member] | Recurring [Member] | U.S. Treasuries [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 2 [Member] | Recurring [Member] | U.S. Treasuries [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 2 [Member] | Recurring [Member] | U.S. Government Sponsored Entities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
Level 2 [Member] | Recurring [Member] | U.S. Government Sponsored Entities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,413	1,507
Level 2 [Member] | Recurring [Member] | Corporate debt securities [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	15,076	11,951
Level 2 [Member] | Recurring [Member] | Corporate debt securities [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	30,842	31,837
Level 2 [Member] | Recurring [Member] | Asset-backed securities and other [Member] | Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	800
Level 2 [Member] | Recurring [Member] | Asset-backed securities and other [Member] | Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	8,074	4,855
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
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] | 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] | 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] | 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] | U.S. Treasuries [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] | U.S. Treasuries [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] | U.S. Government Sponsored Entities [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] | U.S. Government Sponsored Entities [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] | Corporate debt securities [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] | Corporate debt securities [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] | Asset-backed securities and other [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] | Asset-backed securities and other [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
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	2,864	2,875	$ 0
Contingent Consideration [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent Consideration [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent Consideration [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 2,864	$ 2,875

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets and Liabilities at Fair Value on Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, maximum undiscounted payment	$ 4,200
Recurring [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out period for contingent consideration	7 years
Recurring [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out period for contingent consideration	3 years
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 2,875	$ 0
Contingent consideration in connection with acquisitions	0	2,674
Change in fair value of contingent consideration	(11)	201
Payments of contingent consideration	0	0
Ending balance	$ 2,864	$ 2,875

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 30, 2019USD ($)
Fair Value Disclosures [Abstract]
Fair value, assets, level 1 to level 2 transfers, amount	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0
Fair value, assets, level 1 to level 3 transfers, amount	0
Fair value, assets, level 3 to level 1 transfers, amount	0
Fair value, assets, level 2 to level 3 transfers, amount	0
Fair value, assets, level 3 to level 2 transfers, amount	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Equity [Abstract]
Common stock, shares issued	39,132,236	38,814,464
Common stock, shares outstanding	39,132,236	38,814,464
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
Undistributed earnings of foreign subsidiary	$ 0	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Award Limitations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Common stock shares available for grant | shares	5,272,786
Equity incentive plan amendment, shareholder approval date	2017-05
Equity incentive plan amendment, board of directors approval date	2017-02

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested shares	388,898
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] | 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	366,476
Number of common stock shares withheld to pay employee statutory withholding taxes	72,532
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 Plan_4

Stock-Based Compensation Plans - Outstanding Awards Under 2013 Omnibus Equity Incentive Plan (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018	891,575
Granted	331,380
Vested	(388,898)
Transferred	0
Forfeited/canceled	(40,473)
Nonvested shares at September 30, 2019	793,584
Unrecognized stock-based compensation expense as of September 30, 2019 | $	$ 23,499
Weighted average remaining vesting period (years) as of September 30, 2019	3 years 6 months 21 days
Nonvested weighted average grant date fair value per share, beginning balance | $ / shares	$ 27.59
Weighted average grant date fair value per share, Granted | $ / shares	38.62
Weighted average grant date fair value, Vested | $ / shares	24.11
Weighted average grant date fair value, Transferred | $ / shares	29.68
Weighted average grant date fair value, Forfeited/canceled | $ / shares	30.99
Nonvested weighted average grant date fair value per share, ending balance | $ / shares	$ 33.73
Restricted Stock Awards [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018	27,096
Granted	12,806
Vested	(22,422)
Transferred	0
Forfeited/canceled	0
Nonvested shares at September 30, 2019	17,480
Unrecognized stock-based compensation expense as of September 30, 2019 | $	$ 397
Weighted average remaining vesting period (years) as of September 30, 2019	7 months 17 days
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018	471,782
Granted	241,932
Vested	(182,714)
Transferred	(8,136)
Forfeited/canceled	(8,119)
Nonvested shares at September 30, 2019	514,745
Unrecognized stock-based compensation expense as of September 30, 2019 | $	$ 14,629
Weighted average remaining vesting period (years) as of September 30, 2019	3 years 8 months 12 days
Restricted Stock Units [Member] | Independent Contractors, Prior to Adoption of New Standard [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018	392,697
Granted	76,642
Vested	(183,762)
Transferred	8,136
Forfeited/canceled	(32,354)
Nonvested shares at September 30, 2019	261,359
Unrecognized stock-based compensation expense as of September 30, 2019 | $	$ 8,473
Weighted average remaining vesting period (years) as of September 30, 2019	3 years 5 months 12 days

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Outstanding Awards Under 2013 Omnibus Equity Incentive Plan (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Unrecognized stock-based compensation expenses recognition period	3 years 6 months 21 days

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Employee Stock Purchase Plan - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2019USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for issuance	5,272,786
Unrecognized stock-based compensation expense | $	$ 23,499,000
Unrecognized stock-based compensation expenses recognition period	3 years 6 months 21 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	214,872
Unrecognized stock-based compensation expense | $	$ 20,000
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 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 compensation committee of the Company’s board of directors.

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Amendments to Restricted Stock and SARs - Additional Information (Detail) - Deferred stock units [Member]	Oct. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
DSU settlement to common stock percentage	20.00%
DSU settlement into actual stock issued term	5 years
Employee termination age	67 years
Percentage of shares of deferred stock units settled in the event of death or termination after reaching age 67	100.00%

Stock-Based Compensation Plan_8

Stock-Based Compensation Plans - Schedule of Future Share Settlements (Detail) - 2013 Omnibus Equity Incentive Plan [Member] - Deferred stock units [Member]	Sep. 30, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2021	60,373
2022	281,193
Total	341,566

Stock-Based Compensation Plan_9

Stock-Based Compensation Plans - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 2,114	$ 3,147	$ 7,040	$ 8,919
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	40	37	108	100
Restricted Stock Awards [Member] | Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	157	182	481	458
Restricted Stock Units [Member] | Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	1,230	1,112	4,197	3,161
Restricted Stock Units [Member] | Independent Contractors, Subsequent to Adoption of New Standard [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 687		$ 2,254
Restricted Stock Units [Member] | Independent Contractors, Prior to Adoption of New Standard [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense - Independent contractors		$ 1,816		$ 5,200

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes, rate	26.70%	28.50%	27.30%	27.20%

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income tax expense at the federal statutory rate, amount	$ 5,526	$ 6,125	$ 16,247	$ 17,599
State income tax expense, net of federal benefit, amount	1,118	1,462	3,359	3,974
Windfall (shortfall) tax benefits, net related to stock-based compensation, amount	53	(17)	(201)	(261)
Change in valuation allowance, amount	408	162	874	284
Permanent and other items, amount	(81)	583	880	1,176
Provision for income taxes, amount	$ 7,024	$ 8,315	$ 21,159	$ 22,772
Income tax expense at the federal statutory rate, rate	21.00%	21.00%	21.00%	21.00%
State income tax expense, net of federal benefit, rate	4.20%	5.00%	4.30%	4.70%
Windfall (shortfall) tax benefits, net related to stock-based compensation, rate	0.20%	(0.10%)	(0.20%)	(0.30%)
Change in valuation allowance, rate	1.60%	0.60%	1.10%	0.30%
Permanent and other items, rate	(0.30%)	2.00%	1.10%	1.50%
Provision for income taxes, rate	26.70%	28.50%	27.30%	27.20%

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator (Basic and Diluted):
Net income	$ 19,292	$ 20,854	$ 56,209	$ 61,032
Denominator:
Weighted average common shares issued and outstanding	39,116	38,641	39,062	38,598
Deduct: Unvested RSAs	(17)	(29)	(21)	(30)
Add: Fully vested DSUs	342	579	342	579
Weighted Average Common Shares Outstanding	39,441	39,191	39,383	39,147
Basic earnings per common share	$ 0.49	$ 0.53	$ 1.43	$ 1.56
Weighted Average Common Shares Outstanding from above	39,441	39,191	39,383	39,147
Add: Dilutive effect of RSUs, RSAs & ESPP	109	293	144	212
Weighted Average Common Shares Outstanding	39,550	39,484	39,527	39,359
Diluted earnings per common share	$ 0.49	$ 0.53	$ 1.42	$ 1.55
Antidilutive shares excluded from diluted earnings per common share	425	76	325	250

Earnings per Share - Computat_2

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]	9 Months Ended
	Sep. 30, 2019
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Line of Credit Facility [Line Items]
Senior secured revolving credit facility maximum borrowing capacity	$ 60,000,000		$ 60,000,000
Revolving credit facility maturity date			Jun. 1, 2022
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		$ 10,000,000
Standby letters of credit, utilized amount	533,000		$ 533,000
Credit facility interest rate description			Credit Facility will bear interest, at the Company’s option, at either (i) a fluctuating rate per annum 2.00% below the Base Rate (defined as the highest of (a) the Bank’s prime rate, (b) one-month LIBOR plus 1.50%, and (c) the federal funds rate plus 1.50%), or (ii) at a fixed rate per annum determined by Bank to be 0.875% above LIBOR.
LIBOR rate duration period			1 month
Credit agreement, unused capacity, commitment fee percentage			0.10%
Interest expense	329,000	$ 342,000	$ 1,018,000	$ 1,054,000
Credit agreement, amount outstanding	0		$ 0		$ 0
Credit facility covenants			(i) an EBITDAR Coverage Ratio (as defined in the Credit Agreement) of not less than 1.25:1.0 as of each quarter end, determined on a rolling four-quarter basis, and (ii) total funded debt to EBITDA not greater than 2.0:1.0 as of each quarter end, determined on a rolling four-quarter basis, and also limit investments in foreign entities and cap certain other loans.
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 September 30, 2019, the Company was in compliance with all financial and non-financial covenants and has not experienced any limitation in its operations as a result of the covenants.
LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate			1.50%
Base Rate [Member]
Line of Credit Facility [Line Items]
Fluctuating rate per annum			2.00%
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	$ 20,000	$ 26,000	$ 72,000	$ 78,000
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate			0.875%

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information Other (Detail) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Other commitment amount	$ 0.7	$ 1