Company: MMI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001578732-25-000031
Chunk: 83

Company: Marcus & Millichap, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 Due after one year through five years24,925 24,724 26,315 25,944 Due after five years through ten years11,053 10,744 11,246 10,716 Due after ten years25,849 25,645 14,805 14,487 $181,259 $180,494 $242,033 $240,814 Weighted average contractual maturity4.7 years2.3 years

Actual maturities may differ from contractual maturities because certain issuers have the right to prepay certain obligations with or without prepayment penalties. 

4.    Acquisitions, Goodwill and Other Intangible Assets 

Goodwill is recorded as part of the Company’s acquisitions and primarily arose from the acquired assembled workforce and brokerage and financing sales platforms. The Company expects all of the goodwill to be tax deductible, with the tax-deductible amount of goodwill related to the contingent and deferred consideration to be determined once the cash payments are made to settle any contingent and deferred consideration. The goodwill resulting from acquisitions is allocated to the Company’s one reporting unit. Goodwill and intangible assets, net consisted of the following (in thousands): March 31, 2025December 31, 2024GrossCarryingAmountAccumulatedAmortization Net BookValueGrossCarryingAmountAccumulatedAmortization Net BookValueGoodwill and intangible assets:      Goodwill$37,599 $— $37,599 $37,597 $— $37,597 Intangible assets (1)19,125 (13,758)5,367 19,123 (13,199)5,924 $56,724 $(13,758)$42,966 $56,720 $(13,199)$43,521 (1)Total weighted remaining average amortization period was 3.3 years and 3.5 years as of March 31, 2025 and December 31, 2024, respectively. Intangible assets principally include non-compete agreements and customer relationships.The Company recorded amortization expense for intangible assets of $0.6 million and $1.0 million for the three months ended March 31, 2025 and 2024, respectively. The changes in the carrying amount of goodwill consisted of the following (in thousands): Three Months Ended March 31, 2025Beginning balance