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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Contracts | The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):
|  | June 30, 2024 |  | December 31, 2023
Derivative contract |  | Assets |  | Liabilities |  | Notional Amounts(1) |  | Assets |  | Liabilities |  | Notional Amounts(1)
Rate lock commitments |  | $ | 5,824 |  |  | $ | 3,521 |  |  | $ | 296,032 |  |  | $ | 9,604 |  |  | $ | 1,023 |  |  | $ | 290,380 |
Forward Sales Contracts |  | 5,588 |  |  | 7,765 |  |  | 1,098,969 |  |  | 1,259 |  |  | 20,304 |  |  | 792,662 |
Total |  | $ | 11,412 |  |  | $ | 11,286 |  |  | $ | 1,395,001 |  |  | $ | 10,863 |  |  | $ | 21,327 |  |  | $ | 1,083,042 |
(1)Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do not represent anticipated losses.
Schedule of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations | Gains and losses on derivative contracts, which are included on the accompanying unaudited condensed consolidated statements of operations were as follows (in thousands):
|  | Location of gains (losses) recognized in income for derivatives |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Derivatives not designed as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Rate lock commitments |  | Capital markets |  | 1,107 |  |  | (7,167) |  |  | 3,136 |  |  | (100) |  |  |
Rate lock commitments |  | Compensation and employee benefits |  | (363) |  |  | 1,238 |  |  | (833) |  |  | (558) |  |  |
Forward Sale Contracts |  | Capital markets |  | (3,452) |  |  | 18,718 |  |  | (2,177) |  |  | 20,414 |  |  |
Total |  |  |  | $ | (2,708) |  |  | $ | 12,789 |  |  | $ | 126 |  |  | $ | 19,756 |  |  |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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