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Investments | 6 Months Ended
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Jun. 30, 2019
Equity Method Investments And Joint Ventures [Abstract] |
Investments |
(8) | Investments
Newmark has a 27% ownership in Real Estate LP, a joint venture with Cantor in which Newmark has the ability to exert significant influence over the operating and financial policies. Accordingly, Newmark accounts for this investment under the equity method of accounting. Newmark recognized equity income of $4.8 million and $1.8 million for the three months ended June 30, 2019 and 2018 respectively and $4.8 million and $5.0 million for the six months ended June 30, 2019 and 2018, respectively. These amounts were included in “Other income (loss), net” in Newmark’s unaudited condensed consolidated statements of operations. As of June 30, 2019 and December 31, 2018, Newmark had $106.0 million and $101.3 million in this equity method investment, respectively, included in “Other assets” in Newmark’s unaudited condensed consolidated balance sheets. Investments Carried Under Measurements Alternatives Newmark had previously acquired investments for which it does not have the ability to exert significant influence over operating and financial policies. The investments are generally accounted for using the cost method of accounting in accordance with U.S. GAAP guidance, Investments—Other. These investments are included in “Other assets” in Newmark’s unaudited condensed consolidated balance sheets. Effective January 1, 2018, these investments are accounted for using the measurement alternative in accordance with the new guidance on recognition and measurement. Certain of these investments issued and sold additional shares in the quarter ended June 30, 2019. The issuance of these shares resulted in a triggering event that required Newmark to assess the values of the investments. As a result, for the three and six months ended June 30, 2019, Newmark recorded an unrealized gain of $3.9 million included in “Other income (loss), net” in Newmark’s unaudited condensed consolidated statements of operations. The carrying value of these investments was $57.5 million and $53.5 million and is included in “Other assets” in Newmark’s unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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