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Stock Transactions and Unit Redemptions (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Changes in Common Stock Outstanding | Changes in shares of Newmark’s Class A common stock outstanding were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Shares outstanding at beginning of period |  | 152,681,596 |  |  | 153,142,810 |  |  | 152,639,359 |  |  | 150,384,605 |  |  |
Share issuances: |  |  |  |  |  |  |  |  |  |
LPU redemption/exchange (1) |  | 2,978,758 |  |  | 1,158,346 |  |  | 5,167,941 |  |  | 3,086,251 |  |  |
Issuance of Class A common stock for Newmark RSUs |  | 372,312 |  |  | 286,608 |  |  | 1,442,339 |  |  | 1,272,148 |  |  |
Other |  | (145,034) |  |  | 1,051 |  |  | 101,392 |  |  | (154,189) |  |  |
Treasury stock repurchases |  | (5,502,703) |  |  | (2,354,217) |  |  | (8,966,102) |  |  | (2,354,217) |  |  |
Shares outstanding at end of period |  | 150,384,929 |  |  | 152,234,598 |  |  | 150,384,929 |  |  | 152,234,598 |  |  |
(1)Because they were included in Newmark’s fully diluted share count, if dilutive, any exchange of LPUs into Class A common stock would not impact the fully diluted number of shares and units outstanding.
Schedule of Share Repurchase Activity | The gross share repurchases of Newmark’s Class A common stock during the six months ended June 30, 2024 were as follows (in thousands, except shares and per share amounts):
| Total Number of Shares Repurchased/Purchased |  | Average Price Paid per Share |  | Approximate Dollar Value of Units and Shares That May Yet Be Repurchased/ Purchased Under the Program
Repurchases |  |  |  |  |
January 1, 2024 - March 31, 2024 | 3,463,399 |  |  | $ | 10.73 |  |  |
April 2024 | — |  |  | $ | — |  |  |
May 2024 | 3,884,084 |  |  | $ | 10.13 |  |  |
June 2024 | 1,618,619 |  |  | $ | 9.99 |  |  |
Total Repurchases | 8,966,102 |  |  | $ | 10.34 |  |  | $ | 262,184 |
Schedule of Changes in Carrying Amount of Redeemable Partnership Interest | The changes in the carrying amount of FPUs follow (in thousands):
| June 30, 2024 |  | December 31, 2023
Balance at beginning of period: | $ | 16,244 |  |  | $ | 16,550 |
Income allocation | 37 |  |  | 1,451 |
Distributions of income | (1,158) |  |  | (380) |
Issuance and other | (1,658) |  |  | (1,377) |
Balance at end of period | $ | 13,465 |  |  | $ | 16,244 |

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- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
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