Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

The following table summarizes certain of Newmark's contractual obligations at December 31, 2022 (in thousands):


	Total		Less than 1 Year		1-3 Years		3-5 Years		More than 5 Years
Operating leases (1)	$	865,740	$	126,520	$	257,609	$	235,518	$	246,093
Warehouse facilities(2)	137,406		137,406		—		—		—
Debt(3)	550,000		550,000		—		—		—
Interest on debt(4)	30,479		30,479		—		—		—
Interest on warehouse facilities(5)	1,765		1,765		—		—		—
Total	$	1,585,390	$	846,170	$	257,609	$	235,518	$	246,093

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

(2)Warehouse facilities are collateralized by $137.4 million of loans held for sale, at fair value (See Note 21 - “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 $550.0 million of 6.125% Senior Notes. The carrying amount of these notes was approximately $547.8 million. Debt also includes borrowings under the Credit Facility, which is assumed to be outstanding until the maturity date of the Credit Facility. The carrying amount of the borrowing under the Credit Facility is $0.0 million. (See Note 22 - “Debt”)

(4)Reflects interest on the $550.0 million 6.125% Senior Notes until their maturity date of November 15, 2023.

(5)Interest on the warehouse facilities collateralized by U.S. Government Sponsored Enterprises was projected by using the 1-month SOFR rate plus their respective additional basis points, primarily 130 basis points above SOFR and 115 basis points above SOFR, applied to their respective outstanding balances as of December 31, 2022, through their respective maturity dates. Their respective maturity dates range from June 2023 to October 2023, while one line has an open maturity date. The notional amount of these committed and uncommitted warehouse facilities was $2.4 billion at December 31, 2022. See Note 21 - “Warehouse Facilities Collateralized by U.S. Government Sponsored Enterprises".