Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

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 years ended December 31, 2018 and 2017 (in thousands):

	Year Ended December 31,
	2018		2017
Revenues:
Commissions	$	1,116,935	$	1,014,741
Gains from mortgage banking activities/originations, net		160,688		205,999
Real estate management and other services		375,428		233,063
Servicing fees		119,587		110,441
Fees from related parties		1,055		1,373
Interest income		35,238		36,546
Other revenues		607		242
Total revenues		1,809,538		1,602,405
Expenses:
Compensation and employee benefits		1,052,487		1,007,173
Equity-based compensation and allocations of net income to limited    partnership units and FPUs		141,965		111,917
Total compensation and employee benefits		1,194,452		1,119,090
Occupancy and equipment		69,368		62,448
Fees to related parties		15,999		13,208
Professional and consulting fees		31,699		34,270
Communications		11,328		11,809
Selling and promotion		54,650		52,443
Commissions and floor brokerage		1,087		956
Interest expense		79,732		25,546
Other expenses		197,144		128,417
Total expenses		1,655,459		1,448,187
Other income (losses), net:
Gains (losses) on equity method investments		2,759		1,562
Other income (loss)		110,145		72,081
Total other income (losses), net		112,904		73,643
Income (loss) from operations before income taxes		266,983		227,861
Provision (benefit) for income taxes		90,814		57,496
Consolidated net income (loss) from discontinued operations, net of tax		176,169		170,365
Less: Net income (loss) from discontinued operations attributable    to noncontrolling interest in subsidiaries		52,353		(5,913	)
Net income (loss) from discontinued operations available to    common stockholders1	$	123,816	$	176,278

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.”