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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Summary of Components of Purchase Consideration Transferred and Preliminary Allocation of Assets Acquired and Liabilities Assumed | For the three months ended March 31, 2023, the following table summarizes the components of the purchase consideration transferred, and the preliminary allocation of the assets acquired, and liabilities assumed, for the acquisition. Newmark expects to finalize its analysis of the assets acquired and liabilities assumed within the first year of the acquisitions, and therefore adjustments to assets and liabilities may occur (in thousands):
| As of the Acquisition Date
Purchase Price |
Cash | 101,152 |
Contingent consideration | 11,863 |
Accrued Liability | 1,756 |
Total | $ | 114,771 |
Allocations |
Cash | $ | 18,616 |
Goodwill | 77,089 |
Other intangible assets, net | 23,777 |
Receivables, net | 31,365 |
Fixed Assets, net | 6,279 |
Other assets | 434 |
Right-of-use assets | 19,473 |
Right-of-use liabilities | (20,925) |
Accrued compensation | (20,680) |
Accounts payable, accrued expenses and other liabilities | (20,657) |
Total | $ | 114,771 |
The following table summarizes the components of the purchase consideration transferred, and the of the assets acquired, and liabilities assumed, for the acquisitions which occurred in 2022:
| As of the Acquisition Date
Purchase Price |
Contingent consideration | 7,322 |
Cash and stock issued at closing | 65,533 |
Total | $ | 72,855 |
Allocations |
Cash | $ | 1,286 |
Goodwill | 50,756 |
Other intangible assets, net | 19,633 |
Receivables, net | 3,625 |
Other assets | 290 |
Right-of-use Assets | 4,305 |
Right-of-use Liabilities | (4,305) |
Accrued Compensation | (2,175) |
Accounts payable, accrued expenses and other liabilities | (560) |
Total | $ | 72,855 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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