Company: MMI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001578732-25-000015
Chunk: 96

Company: Marcus & Millichap, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 96
---
 2024 related to these guarantee obligations. The Company is required to provide cash collateral to MTRCC for this obligation and this is reflected as $0.7 million of restricted cash as of December 31, 2024, which is included in cash, cash equivalents, and restricted cash on the consolidated balance sheet. 

Material Cash Requirements 

The following table summarizes current and long-term material cash requirements as of December 31, 2024, which we expect to fund primarily with operating cash flows (in thousands):

TotalLess than1 Year1-3Years3-5YearsMoreThan 5YearsOther (7)Operating lease liabilities, including imputed interest (1)$96,645 $22,183 $36,533 $20,976 $16,953 $— SARs liability (principal and interest) (2)17,545 2,603 3,743 980 10,219 — Deferred commissions payable (3)40,110 24,502 12,554 1,931 1,123 — Deferred compensation liability (4)8,304 173 240 238 489 7,164 Contingent consideration (5)4,731 4,614 117 — — — Deferred consideration (5)411 411 — — — — Other (6)16,775 6,980 7,850 550 75 1,320 $184,521 $61,466 $61,037 $24,675 $28,859 $8,484 

(1)See Note 4 – “Operating Leases” of our accompanying Notes to Consolidated Financial Statements. 

(2)Forecasted principal payments are based on each participant’s estimated retirement age and current contractual interest rate of 5.95% as of January 1, 2024 and reflect required payments that resulted from the retirement of certain executives. See Note 7 – “Selected Balance Sheet Data” of our accompanying Notes to Consolidated Financial Statements. 

(3)Includes short-term and long-term deferred commissions payable (excludes commissions currently payable on closed transactions). See Note 7 – “Selected Balance Sheet Data” of our accompanying Notes to Consolidated Financial Statements.

(4)Represents current estimated payouts for participants currently receiving payments based on their elections at the time of deferral. We hold assets in a rabbi trust