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Revenues from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2018
Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues | The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and our other sources of revenues (in thousands):
|  | Three Months Ended March 31, |
|  | 2018 |
Revenues from contracts with customers: |  |  |  |
Leasing and other commissions |  | $ | 159,371 |
Capital markets |  |  | 101,364 |
Management services |  |  | 96,933 |
Revenues |  |  | 357,668 |
Other sources of revenue: |  |  |  |
Gains from mortgage banking activities/originations, net(1) |  |  | 38,914 |
Servicing fees and other(1) |  |  | 33,878 |
Revenues |  | $ | 430,460 |
(1) | Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASU No. 2014-09.
ASC 606 [Member] |
Summary of Impact to Condensed Consolidated Balance Sheets and Condensed Consolidated Statement of Operations | The table below presents the impact to the Newmark’s condensed consolidated balance sheets and condensed consolidated statement of operations as a result of applying the new revenue recognition standard, as codified within ASC 606 (in thousands):
|  | For the Three Months Ended March 31, 2018 |
|  | As Reported |  |  | Under Previous U.S. GAAP |  |  | Effect of Change Higher/(Lower) (1) |
Income Statement |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Leasing and other commissions |  | $ | 159,371 |  |  |  | 148,754 |  |  | $ | 10,617 |
Capital Markets |  |  | 101,364 |  |  |  | 101,364 |  |  |  | — |
Gains from mortgage banking activities/originations, net |  |  | 38,914 |  |  |  | 38,914 |  |  |  | — |
Management services, servicing fees and other |  |  | 130,811 |  |  |  | 112,424 |  |  |  | 18,387 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Compensation and employee benefits |  |  | 252,695 |  |  |  | 247,053 |  |  |  | 5,642 |
Operating, administrative and other |  | $ | 75,427 |  |  |  | 57,040 |  |  | $ | 18,387 |
(1) | The amounts reflect each affected financial statement line item as they would have been reported under U.S. GAAP, prior to the adoption of the new revenue standard.
|  | March 31, 2018 |
|  | As Reported |  |  | Under Previous U.S. GAAP |  |  | Effect of Change Higher/(Lower) (1) |
Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |
Receivables, net |  | $ | 293,148 |  |  |  | 214,695 |  |  | $ | 78,453 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accrued compensation |  |  | 205,732 |  |  |  | 168,338 |  |  |  | 37,394 |
Current portion of accounts payable, accrued expenses and other liabilities |  | $ | 165,746 |  |  |  | 148,466 |  |  | $ | 17,280 |
(1) | The amounts reflect each affected financial statement line item as they would have been reported under U.S. GAAP, prior to the adoption of the new revenue standard

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