Revenues from Contracts with Customers

3 Months Ended

Mar. 31, 2020

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):



	Three Months Ended March 31,
	2020		2019
Revenues from contracts with customers:
Leasing and other commissions	$	140,439	$	172,471
Capital markets commissions	127,923		102,797
Management services	125,571		98,089
Total	393,933		373,357
Other sources of revenue:
Gains from mortgage banking activities/originations, net⁽¹⁾	50,422		31,346
Servicing fees and other⁽¹⁾	39,575		42,953
Total	$	483,930	$	447,656


⁽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 March 31, 2020 and December 31, 2019 was $4.0 million and $4.2 million, respectively. During the three months ended March 31, 2020, Newmark recognized revenue of $0.2 that was recorded as deferred revenue at the beginning of the period.