Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contractual Obligations

The following table summarizes certain of Newmark’s contractual obligations as of December 31, 2024 (in thousands):

	Total		Less than 1 Year		1-3 Years		3-5 Years		More than 5 Years
Operating leases (1)	$	703,258	$	137,812	$	246,716	$	184,514	$	134,216
Warehouse facilities(2)	754,308		754,308		—		—		—
Debt(3)	675,000		—		—		675,000		—
Interest on debt(4)	192,211		49,675		96,161		46,375		—
Interest on warehouse facilities(5)	2,297		2,297		—		—		—
Total	$	2,327,074	$	944,092	$	342,877	$	905,889	$	134,216

(1)Operating leases are related to rental payments under various non-cancelable leases principally for office space.

(2)Warehouse facilities are collateralized by $774.9 million of loans held for sale, at fair value (see Note 18 – “Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises”), which loans were either under commitment to be purchased by Freddie Mac or had confirmed forward trade commitments for the issuance of and purchase of Fannie Mae or Ginnie Mae mortgage-backed securities.

(3)Debt reflects long-term borrowings of $675.0 million which include $600.0 million outstanding aggregate principal amount of 7.500% Senior Notes and $75.0 million outstanding under the Credit Facility. The carrying amount of long-term debt was approximately $670.7 million in the aggregate, which includes $595.7 million under the 7.500% Senior Notes and $75.0 million under the Credit Facility. See Note 19 – “Debt.”

(4)Reflects interest on the $675.0 million of long-term debt which includes $600.0 million outstanding aggregate principal amount of 7.500% Senior Notes until their maturity date of January 11, 2029 and $75.0 million under the Credit Facility, which is assumed to be outstanding until the maturity date of the Credit Facility. Interest on the borrowings under the Credit Facility was projected using the SOFR rate plus 160 basis points.

(5)Interest on the warehouse facilities collateralized by U.S. Government Sponsored Enterprises was projected by using the one-month SOFR rate plus their respective additional basis points, primarily 130 basis points above SOFR, applied to their respective outstanding balances as of December 31, 2024, through their respective maturity dates. Their respective maturity dates range from May 2025 to October 2025, while one line has an open maturity date. The notional amount of these committed and uncommitted warehouse facilities was $3.1 billion at December 31, 2024. See Note 18 – “Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises.”