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Revenues from Contracts with Customers
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenues from Contracts with Customers Revenues from Contracts with Customers
The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and other sources of revenues (in thousands):
 Three Months Ended March 31,
 20232022
Revenues from contracts with customers:
Leasing and other commissions$193,306 $198,952 
Investment sales71,993 152,113 
Mortgage brokerage and debt placement17,146 46,290 
Management services162,104 185,061 
Total444,549 582,416 
Other sources of revenue(1):
Fair value of expected net future cash flows from servicing recognized at commitment, net14,099 29,472 
Loan originations related fees and sales premiums, net11,963 18,300 
Servicing fees and other
50,188 48,059 
Total$520,799 $678,247 
(1)Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASU No. 2014-9.

Disaggregation of revenues
Newmark’s chief operating decision-maker, regardless of geographic location, evaluates the operating results, including revenues, of Newmark as total real estate services (see Note 3 — “Summary of Significant Accounting Policies” for further discussion).

Contract balances
The timing of Newmark’s revenue recognition may differ from the timing of payment by its customers. Newmark records a receivable when revenue is recognized prior to payment and Newmark has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, Newmark records deferred revenue until the performance obligations are satisfied.

Newmark’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue is recorded as a contract liability. Deferred revenue at March 31, 2023 and December 31, 2022 was $2.7 million and $2.9 million, respectively. During the three months ended March 31, 2023 and 2022, Newmark recognized revenue of $1.5 million and $0.9 million, respectively, that was recorded as deferred revenue in a previous period.

For Knotel and Deskeo, the Company’s remaining performance obligations that represent contracted customer revenues, that have not yet been recognized as revenue as of March 31, 2023, that will be recognized as revenue in future periods over the life of the customer contracts, in accordance with ASC 606, is approximately $180.8 million. Over half of the remaining performance obligation as of March 31, 2023 is scheduled to be recognized as revenue within the next twelve months, with the remaining to be recognized over the remaining life of the customer contracts, which extends through 2030.

Approximate future cash flows to be received over the next five years as of March 31, 2023 are as follows (in thousands):
2023$81,637 
202458,708 
202528,645 
20267,540 
20272,677 
Thereafter1,601 
Total$180,808