XML 75 R60.htm IDEA: XBRL DOCUMENT v3.25.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following (in thousands):

			Year Ended December 31,
			2025						2024						2023
Current:
U.S. federal			$	15,252					$	22,931					$	28,317
U.S. state and local			7,215						9,748						11,634
Foreign			6,433						10,343						3,881
UBT			365						1,714						2,466
Total			$	29,265					$	44,736					$	46,298
Deferred:
U.S. federal			12,615						2,660						(2,592)
U.S. state and local			7,062						222						(2,074)
Foreign			(2,895)						(2,275)						(91)
UBT			27						440						(438)
Total			$	16,809					$	1,047					$	(5,195)
Provision for income taxes			$	46,074					$	45,783					$	41,103

Schedule of Pre-Tax Book Income

Pre-Tax Book Income in the consolidated statements of income included the following components (in thousands):

			Year Ended December 31,
			2025						2024						2023
U.S.			223,585						144,246						111,902
International			(22,065)						(12,972)						(8,424)
Total			$	201,520					$	131,274					$	103,478

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate is as follows:

			Year ended December 31, 2025
			Amount						Rate
U.S. Federal Statutory Rate			$	42,319					21.0		%
State and Local Income Taxes, Net of Federal Income Tax Effects (1)			11,489						5.7
Foreign Tax Effects
United Kingdom
Valuation Allowance			3,721						1.9
Non-Controlling Interest			(2,206)						(1.1)
Other			605						0.3
France
Valuation Allowance			2,249						1.1
Other			(301)						(0.1)
Other Foreign			3,869						1.9
Effect of Cross- Borders Tax Laws
Foreign branch income (losses)			(4,770)						(2.4)
Tax Credits			(410)						(0.2)
Nontaxable / Nondeductible Items
Non-Controlling Interest			(4,777)						(2.4)
Sec 162(m) Compensation Deduction Limitation			572						0.3
Travel and Entertainment			2,493						1.3
Other			2,301						1.1
Changes in Unrecognized Tax Benefits			335						0.2
Other Adjustments
Stock-Based Compensation			(7,032)						(3.5)
Revaluation of deferred taxes related to ownership changes			(4,383)						(2.2)
Provision for income tax			$	46,074					22.9		%

(1)State and local income taxes in New York State, New York City and California made up the majority(greater than 50 percent) of the tax effect     in this category.

Differences between Newmark’s actual income tax expense and the amount calculated utilizing the U.S. federal statutory rates were as follows (in thousands):

						Year Ended December 31,
									2024						2023
Tax expense at federal statutory rate									$	27,567					$	21,728
Non-controlling interest									(10,246)						(5,909)
Incremental impact of foreign taxes compared to the federal rate									(3,723)						(2,127)
Other permanent differences									2,602						(829)
U.S. state and local taxes, net of U.S. federal benefit									6,098						5,872
New York City UBT									1,762						1,041
Section 162(m) compensation deduction limitation									8,149						5,806
Revaluation of deferred taxes related to ownership changes									2,134						2,752
Other rate change									581						(1,408)
Valuation allowance									7,904						6,881
Prior year true ups									3,901						7,439
Windfall Tax Benefit									(4,201)						828
Uncertain Tax Positions									3,468						—
Other									(213)						(971)
Provision for income tax									$	45,783					$	41,103

Schedule of Deferred Tax Assets and Liabilities

Significant components of Newmark’s deferred tax asset and liability consisted of the following (in thousands):

			December 31,
			2025						2024
Deferred tax asset
Basis difference of investments			$	32,371					$	36,266
Deferred compensation			143,685						130,510
Other deferred and accrued expenses			8,510						11,576
Net operating loss and credit carry-forwards			50,825						37,599
Other			—						1,238
Total deferred tax asset			235,391						217,189
Valuation Allowance			(48,815)						(38,261)
Deferred tax asset, net of allowance			$	186,576					$	178,928
Deferred tax liability
Depreciation and amortization			84,041						80,016
Other			2,271						—
Deferred tax liability(1)			$	86,312					$	80,016
Net deferred tax asset			$	100,264					$	98,912

(1)Before netting within tax jurisdictions.

Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of the beginning to the ending amounts of gross unrecognized tax benefits for the years ended December 31, 2025, 2024 and 2023 is as follows (in thousands):

Balance, January 1, 2023			$	—
Balance, December 31, 2023			$	—
Increases related to prior year			$	2,577
Balance, December 31, 2024			2,577
Increases related to prior year			142
Balance, December 31, 2025			$	2,719

Schedule of Cash Tax Payments, Net of Refunds

The cash tax payments, net of refunds, consisted of the following (in thousands):

			Year Ended December 31,
			2025
Federal			$	23,494
State
NYS			$	2,395
NYC			1,799
Other States			5,035
Foreign
United Kingdom			8,022
Other Foreign			2,718
Total Cash Payments, net of refunds			$	43,463

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration