Revenues from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Revenues from Contracts with Customers and Our Other Sources of Revenues

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,
	2024		2023
Revenues from contracts with customers:
Leasing and other commissions	$	158,799	$	193,306
Investment sales	70,823		71,993
Mortgage brokerage and debt placement	27,100		17,146
Management services	193,437		159,956
Total	$	450,159	$	442,401
Other sources of revenue(1):
Fair value of expected net future cash flows from servicing recognized at commitment, net	$	16,144	$	14,099
Loan originations related fees and sales premiums, net	16,699		11,963
Servicing fees and other (2)	63,497		52,336
Total	$	546,499	$	520,799

(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.

(2)Beginning in the first quarter of 2024, the portion of Spring11's revenues associated with its servicing and asset management portfolio are no longer reported under “Management services” but are instead recorded as part of “Servicing and other revenues” for all periods from the first quarter of 2023 onwards. For the quarter ended March 31, 2023, $2.1 million was reclassified from “Management services” to “Servicing fees and other”.

Schedule of Revenue Remaining Performance Obligation

Approximate future cash flows to be received over the next five years as of March 31, 2024 are as follows (in thousands):

2024	$	93,594
2025	60,724
2026	26,566
2027	7,932
2028	3,713
Thereafter	15
Total	$	192,544