XML 38 R25.htm IDEA: XBRL DOCUMENT
v3.21.2

Goodwill and Other Intangible Assets, Net | 6 Months Ended
--- | ---
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net | Goodwill and Other Intangible Assets, Net The changes in the carrying amount of goodwill were as follows (in thousands):
Balance, January 1, 2020 | $ | 557,914 |
Acquisitions | 6,294 |
Measurement period adjustments | (3,876) |
Balance, December 31, 2020 | 560,332 |
Acquisitions | 37,123 |
Measurement period adjustments | 7 |
Balance, June 30, 2021 | $ | 597,462 |
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 for the year ended December 31, 2020, which did not result in a goodwill impairment (see Note 4 — “Acquisitions” for more information). Other intangible assets consisted of the following (in thousands, except weighted-average life):
| June 30, 2021
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted- Average Remaining Life (Years)
Indefinite life: |  |  |  |  |  |  |
Trademark and trade names | $ | 11,350 |  |  | $ | — |  |  | $ | 11,350 |  |  | N/A
License agreements (GSE) | 5,390 |  |  | — |  |  | 5,390 |  |  | N/A
Definite life: |  |  |  |  |  |  |
Trademark and trade names | 8,804 |  |  | (5,047) |  |  | 3,757 |  |  | 3.5
Non-contractual customers | 30,131 |  |  | (11,539) |  |  | 18,592 |  |  | 9.7
License agreements | 4,981 |  |  | (4,752) |  |  | 229 |  |  | 0.3
Non-compete agreements | 6,557 |  |  | (3,410) |  |  | 3,147 |  |  | 3.9
Contractual customers | 13,852 |  |  | (2,191) |  |  | 11,661 |  |  | 6.0
Other | 4,552 |  |  | (1,483) |  |  | 3,069 |  |  | 5.7
Total | $ | 85,617 |  |  | $ | (28,422) |  |  | $ | 57,195 |  |  | 7.3
| December 31, 2020
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted- Average Remaining Life (Years)
Indefinite life: |  |  |  |  |  |  |
Trademark and trade names | $ | 11,350 |  |  | $ | — |  |  | $ | 11,350 |  |  | N/A
License agreements (GSE) | 5,390 |  |  | — |  |  | 5,390 |  |  | N/A
Definite life: |  |  |  |  |  |  |
Trademark and trade names | 5,704 |  |  | (4,519) |  |  | 1,185 |  |  | 0.1
Non-contractual customers | 30,131 |  |  | (9,729) |  |  | 20,402 |  |  | 7.2
License agreements | 4,981 |  |  | (4,266) |  |  | 715 |  |  | 0.0
Non-compete agreements | 6,557 |  |  | (2,920) |  |  | 3,637 |  |  | 0.6
Contractual customers | 3,052 |  |  | (1,584) |  |  | 1,468 |  |  | 0.4
Other | 350 |  |  | (208) |  |  | 142 |  |  | 0.0
Total | $ | 67,515 |  |  | $ | (23,226) |  |  | $ | 44,289 |  |  | 5.5
Intangible amortization expense for the three months ended June 30, 2021 and 2020 was $2.4 million and $1.7 million, respectively, and $4.1 million and $3.4 million for the six months ended June 30, 2021 and 2020, respectively. Intangible amortization is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. Impairment charges are included in intangible amortization expense. The estimated future amortization of definite life intangible assets as of June 30, 2021 was as follows (in thousands):
2021 | $ | 3,915 |
2022 | 6,741 |
2023 | 6,382 |
2024 | 5,828 |
2025 | 4,787 |
Thereafter | 12,802 |
Total | $ | 40,455 |

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 goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration