Derivatives (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Contracts

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

	December 31, 2023						December 31, 2022
Derivative contract	Assets		Liabilities		Notional Amounts(1)		Assets		Liabilities		Notional Amounts(1)
Rate lock commitments	$	9,604	$	1,023	$	290,380	$	3,181	$	8,754	$	140,697
Forward Sale Contracts	1,259		20,304		792,662		11,139		624		278,331
Total	$	10,863	$	21,327	$	1,083,042	$	14,320	$	9,378	$	419,028

(1)Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do 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 accompanying consolidated statements of operations were as follows (in thousands):

	Location of gains (losses) recognized in income for derivatives	Year Ended December 31,
		2023		2022		2021
Derivatives not designed as hedging instruments:
Nasdaq Forwards	Other income (loss), net	$	—	$	—	$	(12,475)
Rate lock commitments	Commercial mortgage origination, net	9,274		(4,869)		2,162
Rate lock commitments	Compensation and employee benefits	(693)		(705)		(1,043)
Forward Sale Contracts	Commercial mortgage origination, net	(19,045)		10,516		2,365
Total		$	(10,464)	$	4,942	$	(8,991)