XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Goodwill and Other Intangible Assets, Net of Accumulated Amortization | 3 Months Ended
--- | ---
Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net of Accumulated Amortization |
(15) | Goodwill and Other Intangible Assets, Net of Accumulated Amortization
The changes in the carrying amount of goodwill the three months ended March 31, 2018 and the year ended December 31, 2017 were as follows (in thousands):
Balance at December 31, 2016 |  | $ | 412,846 |
Acquisitions |  |  | 64,291 |
Measurement period adjustments |  |  | 395 |
Balance at December 31, 2017 |  |  | 477,532 |
Acquisitions |  |  | — |
Measurement period adjustments |  |  | (2,542 | )
Balance at March 31, 2018 |  | $ | 474,990 |
During the three months ended March 31, 2018, Newmark recognized measurement period adjustments of approximately $(2.5) million. Newmark did not have any additions to goodwill as a result of acquisitions for the three months ended March 31, 2018. During the years ended December 31, 2017, Newmark recognized additional goodwill and measurement period adjustments of approximately $64.3 million and $0.4 million, respectively. See Note 4—Acquisitions for more information. Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets. Newmark completed its annual goodwill impairment testing during the fourth quarter of 2017, which did not result in any goodwill impairment. Other intangible assets consisted of the following at March 31, 2018 and December 31, 2017 (in thousands, except weighted average life):
|  | March 31, 2018 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted- Average Remaining Life (Years) |
Indefinite life: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademark and trade names |  | $ | 4,400 |  |  | $ | — |  |  | $ | 4,400 |  |  | N/A |
License agreements (GSE) |  |  | 5,390 |  |  |  | — |  |  |  | 5,390 |  |  | N/A |
Definite life: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademark and trade names |  |  | 7,061 |  |  |  | (6,183 | ) |  |  | 878 |  |  |  | 0.1 |
Non-contractual customers |  |  | 10,447 |  |  |  | (2,407 | ) |  |  | 8,040 |  |  |  | 2.5 |
License agreements |  |  | 4,981 |  |  |  | (1,548 | ) |  |  | 3,433 |  |  |  | 0.7 |
Non-compete agreements |  |  | 3,608 |  |  |  | (642 | ) |  |  | 2,966 |  |  |  | 1.1 |
Contractual customers |  |  | 1,452 |  |  |  | (664 | ) |  |  | 788 |  |  |  | 0.2 |
Below market leases |  |  | 15 |  |  |  | (14 | ) |  |  | 1 |  |  |  | — |
|  | $ | 37,354 |  |  | $ | (11,458 | ) |  | $ | 25,896 |  |  |  | 4.6 |
|  | December 31, 2017 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted- Average Remaining Life (Years) |
Indefinite life: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademark and trade names |  | $ | 4,400 |  |  | $ | — |  |  | $ | 4,400 |  |  | N/A |
License agreements (GSE) |  |  | 5,390 |  |  |  | — |  |  |  | 5,390 |  |  | N/A |
Definite life: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademark and trade names |  |  | 7,061 |  |  |  | (6,030 | ) |  |  | 1,031 |  |  |  | 0.2 |
Non-contractual customers |  |  | 7,950 |  |  |  | (1,495 | ) |  |  | 6,455 |  |  |  | 2.5 |
License agreements |  |  | 4,981 |  |  |  | (1,298 | ) |  |  | 3,683 |  |  |  | 0.9 |
Non-compete agreements |  |  | 3,606 |  |  |  | (496 | ) |  |  | 3,110 |  |  |  | 1.2 |
Contractual customers |  |  | 1,452 |  |  |  | (602 | ) |  |  | 850 |  |  |  | 0.2 |
Below market leases |  |  | 15 |  |  |  | (13 | ) |  |  | 2 |  |  |  | — |
|  | $ | 34,855 |  |  | $ | (9,934 | ) |  | $ | 24,921 |  |  |  | 5.0 |
Intangible amortization expense for the three months ended March 31, 2018 and 2017 was $1.5 million and $1.3 million, respectively. Intangible amortization is included as a part of “Depreciation and amortization” in Newmark’s unaudited condensed consolidated statements of operations. The estimated future amortization of definite life intangible assets as of March 31, 2018 was as follows (in thousands):
2018 |  | $ | 3,047 |
2019 |  |  | 3,934 |
2020 |  |  | 3,691 |
2021 |  |  | 2,709 |
2022 and thereafter |  |  | 2,725 |
Total |  | $ | 16,106 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration