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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Contracts | The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):
|  | As of June 30, 2019 |  |  | As of December 31, 2018 |  |
Derivative contract |  | Assets |  |  | Liabilities |  |  | Notional Amounts |  |  | Assets |  |  | Liabilities |  |  | Notional Amounts |  |
Forwards |  | $ | 51,497 |  | (1) | $ | 27,261 |  |  | $ | 1,794,842 |  | (2) | $ | 85,796 |  | (1) | $ | 9,208 |  |  | $ | 1,574,114 |  | (2)
Rate lock commitments |  |  | 21,951 |  |  |  | 2,428 |  |  |  | 640,671 |  |  |  | 6,732 |  |  |  | 7,470 |  |  |  | 240,720 |  |
Total |  | $ | 73,448 |  |  | $ | 29,689 |  |  | $ | 2,435,513 |  |  | $ | 92,528 |  |  | $ | 16,678 |  |  | $ | 1,814,834 |  |
| (1) | Included in Forwards is $48.7 million and $77.6 million of the Nasdaq Forwards as of June 30, 2019 and December 31, 2018, respectively (See Note 1 — Organization and Basis of Presentation). Newmark recorded $29.0 million and $(19.0) million of unrealized (gains)/losses for a change in the fair value of the Nasdaq Forwards as of June 30, 2019 and December 31, 2018, respectively.
| (2) | Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and does not represent anticipated losses. Included in the notional amounts of forwards is $361.0 million for the Nasdaq Forwards as of June 30, 2019 and December 31, 2018.
Summary of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations | The table below summarizes gains and losses on derivative contracts which are included in the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 (in thousands):
|  | Location of gain (loss) recognized |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | in income for derivatives |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Derivatives not designed as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nasdaq Forwards |  | Other income (loss) |  | $ | (15,638 | ) |  | $ | 2,808 |  |  | $ | (28,967 | ) |  | $ | 2,808 |
Rate lock commitments |  | Gains from mortgage banking activities/originations, net |  |  | 14,292 |  |  |  | 1,515 |  |  |  | 21,379 |  |  |  | 3,784 |
Rate lock commitments |  | Compensation and employee benefits |  |  | 211 |  |  |  | (782 | ) |  |  | (1,856 | ) |  |  | (3,282 | )
Forward sale contracts |  | Gains from mortgage banking activities/originations, net |  |  | (20,784 | ) |  |  | 8,536 |  |  |  | (24,416 | ) |  |  | 15,802 |
|  |  |  | $ | (21,919 | ) |  | $ | 12,077 |  |  | $ | (33,860 | ) |  | $ | 19,112 |

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