Revenues from Contracts with Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and other sources of revenues (in thousands):



	Year Ended December 31,
	2019		2018
Revenues from contracts with customers:
Leasing and other commissions	$	854,780	$	817,435
Capital markets commissions	541,255		468,904
Management services	446,367		414,447
Total	1,842,402		1,700,786
Other sources of revenue:
Gains from mortgage banking activities/originations, net⁽¹⁾	198,085		182,264
Servicing fees and other⁽¹⁾	177,645		164,529
Total	$	2,218,132	$	2,047,579


⁽¹⁾	Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASU No. 2014-9.

Disaggregation of Revenue

Newmark’s chief operating decision maker regardless of geographic location evaluates the operating results of Newmark as total real estate. (See Note 3 — “Summary of Significant Accounting Policies” for further discussion).

Contract Balances

The timing of Newmark’s revenue recognition may differ from the timing of payment by its customers. Newmark records a receivable when revenue is recognized prior to payment and Newmark has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, Newmark records deferred revenue until the performance obligations are satisfied.

Newmark’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue at December 31, 2019 and 2018 was $4.2 million, respectively. During the years ended December 31, 2019 and 2018 Newmark recognized revenue of $1.8 million and $3.2 million that was recorded as deferred revenue at the beginning of the period.