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Fair Value of Financial Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2018
Fair Value Disclosures [Abstract] |
Fair Value Hierarchy of Financial Assets and Liabilities under U.S. GAAP Guidance | The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance at March 31, 2018 and December 31, 2017 (in thousands):
|  | As of March 31, 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 8,622 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 8,622 |
Loans held for sale |  |  | — |  |  |  | 965,639 |  |  |  | — |  |  |  |  |  | 965,639 |
Rate lock commitments |  |  | — |  |  |  | — |  |  |  | 8,750 |  |  |  |  |  | 8,750 |
Forwards |  |  | — |  |  |  | — |  |  |  | 9,687 |  |  |  |  |  | 9,687 |
Total assets |  | $ | 8,622 |  |  | $ | 965,639 |  |  | $ | 18,437 |  |  | # |  | $ | 992,698 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities—contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 23,087 |  |  |  |  | $ | 23,087 |
Rate lock commitments |  |  | — |  |  |  | — |  |  |  | 8,980 |  |  |  |  |  | 8,980 |
Forwards |  |  | — |  |  |  | — |  |  |  | 2,421 |  |  |  |  |  | 2,421 |
Total Liabilities |  | $ | — |  |  | $ | — |  |  | $ | 34,488 |  |  |  |  | $ | 34,488 |
|  | As of December 31, 2017 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 57,623 |  |  | $ | — |  |  | $ | — |  |  | $ | 57,623 |
Loans held for sale |  |  | — |  |  |  | 362,635 |  |  |  | — |  |  |  | 362,635 |
Rate lock commitments |  |  | — |  |  |  | — |  |  |  | 2,923 |  |  |  | 2,923 |
Forwards |  |  | — |  |  |  | — |  |  |  | 3,753 |  |  |  | 3,753 |
Total assets |  | $ | 57,623 |  |  | $ | 362,635 |  |  | $ | 6,676 |  |  | $ | 426,934 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities—contingent consideration |  | $ | — |  |  | $ | — |  |  | $ | 23,711 |  |  | $ | 23,711 |
Rate lock commitments |  |  | — |  |  |  | — |  |  |  | 2,390 |  |  |  | 2,390 |
Forwards |  |  | — |  |  |  | — |  |  |  | 657 |  |  |  | 657 |
Total Liabilities |  | $ | — |  |  | $ | — |  |  | $ | 26,758 |  |  | $ | 26,758 |
Roll forward of Derivative Instruments and Contingent Consideration Require Valuation Based upon Significant Unobservable Inputs | A roll forward of derivative instruments and contingent consideration (level 3) that require valuation based upon significant unobservable inputs is presented below (in thousands):
|  | As of March 31, 2018 |
|  | Opening Balance |  |  | Total realized and unrealized (gains) losses included in Net income(1) |  |  | Issuances |  |  | Settlements |  |  | Closing Balance |  |  | Unrealized (gains) losses outstanding as of March 31, 2018 |
Accounts payable, accrued expenses and other liabilities—contingent consideration |  | $ | 23,711 |  |  | $ | 134 |  |  | $ | — |  |  | $ | (758 | ) |  | $ | 23,087 |  |  | $ | 134 |
Rate lock commitments and forwards, net |  |  | 3,629 |  |  |  | 7,036 |  |  |  | — |  |  |  | (3,629 | ) |  |  | 7,036 |  |  |  | 7,036 |
|  | $ | 27,340 |  |  | $ | 7,170 |  |  | $ | — |  |  | $ | (4,387 | ) |  | $ | 30,123 |  |  | $ | 7,170 |
|  | As of March 31, 2017 |
|  | Opening Balance |  |  | Total realized and unrealized (gains) losses included in Net income(1) |  |  | Issuances |  |  | Settlements |  |  | Closing Balance |  |  | Unrealized (gains) losses outstanding as of March 31, 2017 |
Accounts payable, accrued expenses and other liabilities—contingent consideration |  | $ | 38,713 |  |  | $ | 438 |  |  | $ | — |  |  | $ | (10,153 | ) |  | $ | 28,998 |  |  | $ | 438 |
Rate lock commitments and forwards, net |  |  | 10,254 |  |  |  | 2,462 |  |  |  | — |  |  |  | (10,254 | ) |  |  | 2,462 |  |  |  | 2,462 |
|  | $ | 48,967 |  |  | $ | 2,900 |  |  | $ | — |  |  | $ | (20,407 | ) |  | $ | 31,460 |  |  | $ | 2,900 |
(1) | Realized losses are reported in “Other income, net” in Newmark’s unaudited condensed consolidated statements of operations.
Quantitative Information about Level 3 Fair Value Measurements | The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis:
March 31, 2018
Level 3 assets and liabilities |  | Assets |  |  | Liabilities |  |  | Significant Unobservable Inputs
Accounts payable, accrued expenses and other liabilities: |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | — |  |  | $ | 23,087 |  |  | Discount rate—6.6% weighted average rate(a)
Derivative assets and liabilities: |  |  |  |  |  |  |  |  |  | Financial forecast information
Forward sale contracts |  | $ | 9,687 |  |  | $ | 2,421 |  |  | Counterparty credit risk
Rate lock commitments |  | $ | 8,750 |  |  | $ | 8,980 |  |  | Counterparty credit risk
December 31, 2017
Level 3 assets and liabilities |  | Assets |  |  | Liabilities |  |  | Significant Unobservable Inputs
Accounts payable, accrued expenses and other liabilities: |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | — |  |  | $ | 23,711 |  |  | Discount rate—6.43% weighted average rate(a)
Derivative assets and liabilities: |  |  |  |  |  |  |  |  |  | Financial forecast information
Forward sale contracts |  | $ | 3,753 |  |  | $ | 657 |  |  | Counterparty credit risk
Rate lock commitments |  | $ | 2,923 |  |  | $ | 2,390 |  |  | Counterparty credit risk
(a) | Newmark’s estimate of contingent consideration as of March 31, 2018 and December 31, 2017 was based on the acquired business’ projected future financial performance, including revenues.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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