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Revenues from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues | 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 June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Revenues from contracts with customers: |  |  |  |  |  |  |  |  |  |
Leasing and other commissions |  | $ | 208,557 |  |  | $ | 203,611 |  |  | $ | 367,356 |  |  | $ | 396,917 |  |  |
Investment sales |  | 91,731 |  |  | 77,604 |  |  | 162,554 |  |  | 149,597 |  |  |
Mortgage brokerage and debt placement |  | 28,260 |  |  | 19,330 |  |  | 55,360 |  |  | 36,476 |  |  |
Management services |  | 198,778 |  |  | 176,196 |  |  | 392,199 |  |  | 336,151 |  |  |
Total |  | 527,326 |  |  | 476,741 |  |  | $ | 977,469 |  |  | $ | 919,141 |  |  |
Other sources of revenue(1): |  |  |  |  |  |  |  |  |  |
Fair value of expected net future cash flows from servicing recognized at commitment, net |  | 23,395 |  |  | 23,046 |  |  | $ | 39,539 |  |  | $ | 37,145 |  |  |
Loan originations related fees and sales premiums, net |  | 18,654 |  |  | 21,593 |  |  | 35,353 |  |  | 33,556 |  |  |
Servicing fees and other (2) |  | 64,000 |  |  | 64,464 |  |  | 127,513 |  |  | 116,801 |  |  |
Total |  | $ | 633,375 |  |  | $ | 585,844 |  |  | $ | 1,179,874 |  |  | $ | 1,106,643 |  |  |
(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. (2)Beginning in the first quarter of 2024, the portion of Spring11’s revenues associated with its servicing and asset management portfolio is no longer reported under “Management services” but is instead recorded as part of “Servicing and other revenues” for all periods from the first quarter of 2023 onwards. For the three and six months ended June 30, 2023, $2.0 million and $4.1 million, respectively, was reclassified from “Management services” to “Servicing fees and other.”
Schedule of Revenue Remaining Performance Obligation | Approximate future cash flows to be received over the next five years as of June 30, 2024 are as follows (in thousands):
2024 | $ | 71,177 |
2025 | 69,545 |
2026 | 28,511 |
2027 | 8,463 |
2028 | 3,297 |
Thereafter | 15 |
Total | $ | 181,008 |

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