XML 76 R60.htm IDEA: XBRL DOCUMENT v3.20.4
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2020
Newmark [Member]  
Components of Consolidated Net Income (Loss) from Discontinued Operations, Net of Tax

The following table provides the components of “Consolidated net income (loss) from discontinued operations, net of tax” and “Net income (loss) from discontinued operations attributable to noncontrolling interest in subsidiaries” for the year ended December 31, 2018 (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2018

 

Revenues:

 

 

 

 

Commissions

 

$

1,112,629

 

Gains from mortgage banking activities/originations, net

 

 

160,688

 

Real estate management and other services

 

 

375,428

 

Servicing fees

 

 

119,587

 

Fees from related parties

 

 

1,055

 

Interest income

 

 

35,238

 

Other revenues

 

 

607

 

Total revenues

 

 

1,805,232

 

Expenses:

 

 

 

 

Compensation and employee benefits

 

 

1,049,903

 

Equity-based compensation and allocations of net income to limited

   partnership units and FPUs

 

 

141,965

 

Total compensation and employee benefits

 

 

1,191,868

 

Occupancy and equipment

 

 

69,368

 

Fees to related parties

 

 

15,999

 

Professional and consulting fees

 

 

31,699

 

Communications

 

 

11,328

 

Selling and promotion

 

 

54,650

 

Commissions and floor brokerage

 

 

1,087

 

Interest expense

 

 

79,732

 

Other expenses

 

 

197,144

 

Total expenses

 

 

1,652,875

 

Other income (losses), net:

 

 

 

 

Gains (losses) on equity method investments

 

 

2,759

 

Other income (loss)

 

 

110,145

 

Total other income (losses), net

 

 

112,904

 

Income (loss) from operations before income taxes

 

 

265,261

 

Provision (benefit) for income taxes

 

 

86,799

 

Consolidated net income (loss) from discontinued operations, net of tax

 

 

178,462

 

Less: Net income (loss) from discontinued operations attributable

   to noncontrolling interest in subsidiaries

 

 

53,121

 

Net income (loss) from discontinued operations available to

   common stockholders1

 

$

125,341

 

 

1

This amount excludes EPU payable-in-kind dividends, which is a reduction to “Net income (loss) from discontinued operations available to common stockholders” for the calculation of the Company’s “Basic earnings (loss) per share and Fully diluted earnings (loss) per share from discontinued operations.”