Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):



	As of December 31, 2019							As of December 31, 2018
Derivative contract	Assets		Liabilities		Notional Amounts			Assets		Liabilities		Notional Amounts⁽¹⁾
Forward sale contracts	$	14,389	$	13,537	$	1,606,943	⁽¹⁾	$	8,177	$	9,208	$	1,213,154	⁽¹⁾
Nasdaq Forwards	26,502		—		267,480			77,619		—		360,960
Rate lock commitments	32,035		12,124		1,396,827			6,732		7,470		240,720
Total	$	72,926	$	25,661	$	3,271,250		$	92,528	$	16,678	$	1,814,834

⁽¹⁾

Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and does not represent anticipated losses.

Summary of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations

Gains and losses on derivative contracts which are included on the consolidated statements of operations were as follows (in thousands):



	Location of gain (loss) recognized in income for derivatives	For the Year Ended December 31,
		2019			2018			2017
Derivatives not designed as hedging instruments:
Nasdaq Forwards	Other income (loss), net	$	(51,117	)	$	19,002		$	—
Rate lock commitments	Gains from mortgage banking activities/originations, net	21,916			935			1,953
Rate lock commitments	Compensation and employee benefits	(2,004		)	(1,673		)	(1,420		)
Forward sale contracts	Gains from mortgage banking activities/originations, net	851			(1,031		)	3,096
Total		$	(30,354	)	$	17,233		$	3,629