Company Quick10K Filing
Newmark Group
Price9.28 EPS1
Shares207 P/E11
MCap1,917 P/FCF5
Net Debt424 EBIT289
TEV2,342 TEV/EBIT8
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-11-06
10-Q 2020-06-30 Filed 2020-08-07
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-02-28
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-03-15
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-15
10-K 2017-12-31 Filed 2018-03-20
8-K 2020-11-05
8-K 2020-09-22
8-K 2020-08-06
8-K 2020-06-23
8-K 2020-06-16
8-K 2020-05-07
8-K 2020-03-17
8-K 2020-02-13
8-K 2019-12-19
8-K 2019-10-30
8-K 2019-09-24
8-K 2019-08-01
8-K 2019-05-09
8-K 2019-02-12
8-K 2019-02-05
8-K 2018-12-20
8-K 2018-11-30
8-K 2018-11-28
8-K 2018-11-23
8-K 2018-11-14
8-K 2018-11-13
8-K 2018-11-05
8-K 2018-11-02
8-K 2018-10-25
8-K 2018-10-25
8-K 2018-09-25
8-K 2018-09-25
8-K 2018-09-04
8-K 2018-08-03
8-K 2018-08-02
8-K 2018-06-29
8-K 2018-06-18
8-K 2018-05-03
8-K 2018-03-27
8-K 2018-03-06
8-K 2018-02-09
8-K 2018-02-05

NMRK 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits and Financial Statement Schedules
EX-31.1 exhibit311q32020.htm
EX-31.2 exhibit312q32020.htm
EX-32.1 exhibit321q32020.htm

Newmark Group Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
3.83.02.31.50.80.02016201720182020
Assets, Equity
0.60.50.40.20.10.02016201720182020
Rev, G Profit, Net Income
0.70.40.2-0.1-0.3-0.62016201720182020
Ops, Inv, Fin

nmrk-20200930
FALSE2020Q30001690680--12-31P4Y1.151.41.151.41.151.41.052.00P3YP2YP2Y00016906802020-01-012020-09-30xbrli:shares0001690680us-gaap:CommonClassAMember2020-11-040001690680us-gaap:CommonClassBMember2020-11-04iso4217:USD00016906802020-09-3000016906802019-12-31iso4217:USDxbrli:shares0001690680us-gaap:CommonClassAMember2020-09-300001690680us-gaap:CommonClassAMember2019-12-310001690680us-gaap:CommonClassBMember2019-12-310001690680us-gaap:CommonClassBMember2020-09-300001690680nmrk:ContingentClassACommonStockMember2020-09-300001690680nmrk:ContingentClassACommonStockMember2019-12-310001690680nmrk:CommissionsMember2020-07-012020-09-300001690680nmrk:CommissionsMember2019-07-012019-09-300001690680nmrk:CommissionsMember2020-01-012020-09-300001690680nmrk:CommissionsMember2019-01-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationNetMember2020-07-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationNetMember2019-07-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationNetMember2020-01-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationNetMember2019-01-012019-09-300001690680nmrk:ManagementServicesServicingFeesAndOtherMember2020-07-012020-09-300001690680nmrk:ManagementServicesServicingFeesAndOtherMember2019-07-012019-09-300001690680nmrk:ManagementServicesServicingFeesAndOtherMember2020-01-012020-09-300001690680nmrk:ManagementServicesServicingFeesAndOtherMember2019-01-012019-09-3000016906802020-07-012020-09-3000016906802019-07-012019-09-3000016906802019-01-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-06-300001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-06-300001690680us-gaap:AdditionalPaidInCapitalMember2020-06-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2020-06-300001690680us-gaap:TreasuryStockCommonMember2020-06-300001690680us-gaap:RetainedEarningsMember2020-06-300001690680us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-06-300001690680us-gaap:NoncontrollingInterestMember2020-06-3000016906802020-06-300001690680us-gaap:RetainedEarningsMember2020-07-012020-09-300001690680us-gaap:NoncontrollingInterestMember2020-07-012020-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-07-012020-09-300001690680us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2020-07-012020-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-09-300001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2020-09-300001690680us-gaap:AdditionalPaidInCapitalMember2020-09-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2020-09-300001690680us-gaap:TreasuryStockCommonMember2020-09-300001690680us-gaap:RetainedEarningsMember2020-09-300001690680us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-09-300001690680us-gaap:NoncontrollingInterestMember2020-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-12-310001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-12-310001690680us-gaap:AdditionalPaidInCapitalMember2019-12-310001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2019-12-310001690680us-gaap:TreasuryStockCommonMember2019-12-310001690680us-gaap:RetainedEarningsMember2019-12-310001690680us-gaap:NoncontrollingInterestMember2019-12-310001690680us-gaap:RetainedEarningsMember2020-01-012020-09-300001690680us-gaap:NoncontrollingInterestMember2020-01-012020-09-300001690680us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-09-300001690680us-gaap:RetainedEarningsMembernmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2019-12-310001690680nmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2019-12-310001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-01-012020-09-300001690680us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2020-01-012020-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-06-300001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-06-300001690680us-gaap:AdditionalPaidInCapitalMember2019-06-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2019-06-300001690680us-gaap:TreasuryStockCommonMember2019-06-300001690680us-gaap:RetainedEarningsMember2019-06-300001690680us-gaap:NoncontrollingInterestMember2019-06-3000016906802019-06-300001690680us-gaap:RetainedEarningsMember2019-07-012019-09-300001690680us-gaap:NoncontrollingInterestMember2019-07-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-07-012019-09-300001690680us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2019-07-012019-09-300001690680us-gaap:TreasuryStockCommonMember2019-07-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-09-300001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2019-09-300001690680us-gaap:AdditionalPaidInCapitalMember2019-09-300001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2019-09-300001690680us-gaap:TreasuryStockCommonMember2019-09-300001690680us-gaap:RetainedEarningsMember2019-09-300001690680us-gaap:NoncontrollingInterestMember2019-09-3000016906802019-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2018-12-310001690680us-gaap:CommonClassBMemberus-gaap:CommonStockMember2018-12-310001690680us-gaap:AdditionalPaidInCapitalMember2018-12-310001690680us-gaap:CommonStockMembernmrk:ContingentClassACommonStockMember2018-12-310001690680us-gaap:TreasuryStockCommonMember2018-12-310001690680us-gaap:RetainedEarningsMember2018-12-310001690680us-gaap:NoncontrollingInterestMember2018-12-3100016906802018-12-310001690680us-gaap:RetainedEarningsMember2019-01-012019-09-300001690680us-gaap:NoncontrollingInterestMember2019-01-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-01-012019-09-300001690680us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-300001690680us-gaap:TreasuryStockCommonMember2019-01-012019-09-300001690680us-gaap:CommonStockMember2020-07-012020-09-300001690680us-gaap:CommonStockMember2019-07-012019-09-300001690680us-gaap:CommonStockMember2020-01-012020-09-300001690680us-gaap:CommonStockMember2019-01-012019-09-30xbrli:pure0001690680us-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassAMember2018-11-300001690680us-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassBMember2018-11-300001690680nmrk:BGCPartnersIncMembernmrk:NewmarkHoldingsMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMember2018-11-290001690680us-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassAMember2018-11-302018-11-300001690680us-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassBMember2018-11-302018-11-300001690680nmrk:NewmarkOpCoMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonStockMember2018-11-302018-11-300001690680nmrk:NewmarkOpCoMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassAMember2018-11-302018-11-300001690680nmrk:BGCPartnersIncMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassAMembernmrk:NewmarkGroupMember2018-11-300001690680nmrk:BGCPartnersIncMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassBMembernmrk:NewmarkGroupMember2018-11-300001690680nmrk:BGCPartnersIncMemberus-gaap:DisposalGroupDisposedOfByMeansOtherThanSaleNotDiscontinuedOperationsSpinoffMemberus-gaap:CommonClassAMembernmrk:NewmarkGroupMember2018-11-302018-11-300001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkUnitsMember2018-03-072018-03-0700016906802018-11-300001690680us-gaap:CommonClassAMember2018-11-300001690680nmrk:NasdaqOmxMember2013-06-282013-06-280001690680nmrk:BGCPartnersIncMembersrt:MaximumMembernmrk:NasdaqOmxMember2013-06-282013-06-280001690680nmrk:BGCPartnersIncMembersrt:MinimumMembernmrk:NasdaqOmxMember2013-06-282013-06-280001690680nmrk:NewmarkOpCoMembernmrk:TheRoyalBankOfCanadaMember2018-06-180001690680nmrk:NewmarkOpCoMembernmrk:TheRoyalBankOfCanadaMember2018-09-260001690680nmrk:NewmarkOpCoMembernmrk:TheRoyalBankOfCanadaMember2018-01-012018-12-31nmrk:tranchenmrk:contract0001690680nmrk:NasdaqForwardsMember2018-09-260001690680srt:MaximumMembernmrk:NasdaqOmxMember2018-09-262018-09-260001690680srt:ScenarioForecastMemberus-gaap:CommonStockMember2020-11-3000016906802019-12-022019-12-020001690680us-gaap:CommonStockMembernmrk:NasdaqEarnOutMember2019-11-3000016906802019-12-020001690680nmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2017-12-310001690680us-gaap:AccountingStandardsUpdate201602Member2019-01-010001690680us-gaap:CommonClassAMember2017-12-1300016906802020-01-012020-03-3100016906802019-10-012019-12-3100016906802019-04-012019-06-3000016906802019-01-012019-12-310001690680nmrk:NonDistributionEarningUnitsMember2020-01-012020-09-300001690680nmrk:NewmarkOpCoMembernmrk:TheRoyalBankOfCanadaMember2020-09-300001690680nmrk:CantorMemberus-gaap:CommonClassBMember2020-09-300001690680nmrk:CantorMemberus-gaap:CommonClassBMember2020-01-012020-09-300001690680us-gaap:AccountsReceivableMembernmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2019-12-310001690680us-gaap:LoansReceivableMembernmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2019-12-310001690680nmrk:LeasingAndOtherCommissionsMember2020-07-012020-09-300001690680nmrk:LeasingAndOtherCommissionsMember2019-07-012019-09-300001690680nmrk:LeasingAndOtherCommissionsMember2020-01-012020-09-300001690680nmrk:LeasingAndOtherCommissionsMember2019-01-012019-09-300001690680nmrk:CapitalMarketsCommissionsMember2020-07-012020-09-300001690680nmrk:CapitalMarketsCommissionsMember2019-07-012019-09-300001690680nmrk:CapitalMarketsCommissionsMember2020-01-012020-09-300001690680nmrk:CapitalMarketsCommissionsMember2019-01-012019-09-300001690680nmrk:HVSMember2020-01-012020-01-310001690680nmrk:HVSMember2020-01-310001690680nmrk:HVSMember2020-01-012020-09-300001690680nmrk:HVSMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680nmrk:HVSMember2020-09-300001690680nmrk:TwoThousandNineteenAcquisitionsMember2019-01-012019-12-310001690680nmrk:TwoThousandNineteenAcquisitionsMember2019-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMembernmrk:TwoThousandNineteenAcquisitionsMember2019-01-012019-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMembernmrk:TwoThousandNineteenAcquisitionsMember2019-12-310001690680nmrk:TwoThousandNineteenAcquisitionsMember2019-07-012019-09-300001690680nmrk:TwoThousandNineteenAcquisitionsMember2019-01-012019-09-300001690680nmrk:LimitedPartnershipUnitsMember2019-07-012019-09-300001690680us-gaap:RestrictedStockUnitsRSUMember2019-07-012019-09-300001690680nmrk:LimitedPartnershipUnitsMember2019-01-012019-09-300001690680us-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-30nmrk:classnmrk:vote0001690680us-gaap:CommonClassAMember2020-06-300001690680us-gaap:CommonClassAMember2019-06-300001690680us-gaap:CommonClassAMember2018-12-310001690680us-gaap:CommonClassAMember2020-07-012020-09-300001690680us-gaap:CommonClassAMember2019-07-012019-09-300001690680us-gaap:CommonClassAMember2020-01-012020-09-300001690680us-gaap:CommonClassAMember2019-01-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300001690680us-gaap:CommonClassAMemberus-gaap:RestrictedStockUnitsRSUMember2019-07-012019-09-300001690680us-gaap:CommonClassAMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680us-gaap:CommonClassAMemberus-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-300001690680us-gaap:CommonClassAMember2019-09-300001690680us-gaap:CommonClassBMember2020-01-012020-09-300001690680us-gaap:CommonClassBMember2019-09-300001690680srt:AffiliatedEntityMembersrt:MaximumMemberus-gaap:CommonClassAMemberus-gaap:NoncontrollingInterestMember2018-08-010001690680us-gaap:CommonClassAMember2019-01-012019-12-310001690680us-gaap:CommonClassAMember2020-01-012020-03-310001690680us-gaap:CommonClassAMember2020-04-012020-06-300001690680nmrk:BGCPartnersIncMembernmrk:NasdaqOmxMember2013-06-282013-06-280001690680us-gaap:CommonStockMember2019-01-012019-12-310001690680us-gaap:CommonStockMembersrt:MaximumMember2013-06-282013-06-280001690680nmrk:BGCPartnersIncMemberus-gaap:CommonStockMember2020-01-012020-09-300001690680srt:MinimumMemberus-gaap:CommonStockMember2013-06-282013-06-280001690680us-gaap:CommonStockMembernmrk:NasdaqEarnOutMember2020-07-012020-09-300001690680us-gaap:CommonStockMember2020-01-012020-03-310001690680us-gaap:CommonStockMember2019-07-012019-09-300001690680us-gaap:CommonStockMember2019-01-012019-09-300001690680us-gaap:CommonStockMember2020-09-300001690680us-gaap:CommonStockMember2019-12-310001690680nmrk:CFRealEstateFinanceHoldingsLimitedPartnershipMember2020-09-300001690680us-gaap:OtherNoncurrentAssetsMember2020-09-300001690680us-gaap:OtherNoncurrentAssetsMember2019-12-310001690680nmrk:SellerServicerAgreementsMember2020-09-300001690680us-gaap:OtherAssetsMember2020-09-300001690680us-gaap:OtherAssetsMember2019-12-310001690680us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-300001690680us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-300001690680us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001690680us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001690680us-gaap:InterestRateLockCommitmentsMember2020-09-300001690680us-gaap:InterestRateLockCommitmentsMember2019-12-310001690680nmrk:NasdaqForwardsMember2020-09-300001690680nmrk:NasdaqForwardsMember2019-12-310001690680us-gaap:ForwardContractsMember2020-09-300001690680us-gaap:ForwardContractsMember2019-12-310001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMember2020-07-012020-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMember2019-07-012019-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMember2019-01-012019-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMember2020-01-012020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:NondesignatedMemberus-gaap:OtherOperatingIncomeExpenseMember2020-07-012020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:NondesignatedMemberus-gaap:OtherOperatingIncomeExpenseMember2019-07-012019-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:NondesignatedMemberus-gaap:OtherOperatingIncomeExpenseMember2020-01-012020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:NondesignatedMemberus-gaap:OtherOperatingIncomeExpenseMember2019-01-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-07-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2019-07-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2020-01-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMemberus-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMember2019-01-012019-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMemberus-gaap:NondesignatedMember2020-07-012020-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMemberus-gaap:NondesignatedMember2019-07-012019-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMemberus-gaap:NondesignatedMember2020-01-012020-09-300001690680us-gaap:InterestRateLockCommitmentsMembernmrk:CostOfServicesDirectLaborMemberus-gaap:NondesignatedMember2019-01-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMembernmrk:ForwardSaleContractsMemberus-gaap:NondesignatedMember2020-07-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMembernmrk:ForwardSaleContractsMemberus-gaap:NondesignatedMember2019-07-012019-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMembernmrk:ForwardSaleContractsMemberus-gaap:NondesignatedMember2020-01-012020-09-300001690680nmrk:GainsFromMortgageBankingActivitiesOriginationsNetMembernmrk:ForwardSaleContractsMemberus-gaap:NondesignatedMember2019-01-012019-09-300001690680us-gaap:NondesignatedMember2020-07-012020-09-300001690680us-gaap:NondesignatedMember2019-07-012019-09-300001690680us-gaap:NondesignatedMember2020-01-012020-09-300001690680us-gaap:NondesignatedMember2019-01-012019-09-300001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2019-07-012019-09-300001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2020-07-012020-09-300001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2019-01-012019-09-300001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2020-01-012020-09-300001690680us-gaap:CreditRiskMember2020-09-300001690680us-gaap:CreditRiskMember2019-12-310001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2020-09-300001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2019-12-310001690680us-gaap:CreditRiskMembernmrk:DBCaymanMember2019-01-012019-12-310001690680nmrk:CapitalMarketsMember2020-07-012020-09-300001690680nmrk:CapitalMarketsMember2019-07-012019-09-300001690680nmrk:CapitalMarketsMember2020-01-012020-09-300001690680nmrk:CapitalMarketsMember2019-01-012019-09-300001690680nmrk:ManagementServicesMember2020-07-012020-09-300001690680nmrk:ManagementServicesMember2019-07-012019-09-300001690680nmrk:ManagementServicesMember2020-01-012020-09-300001690680nmrk:ManagementServicesMember2019-01-012019-09-300001690680nmrk:MortgageBankingActivitiesAndOriginationsMember2020-07-012020-09-300001690680nmrk:MortgageBankingActivitiesAndOriginationsMember2019-07-012019-09-300001690680nmrk:MortgageBankingActivitiesAndOriginationsMember2020-01-012020-09-300001690680nmrk:MortgageBankingActivitiesAndOriginationsMember2019-01-012019-09-300001690680nmrk:ServicingFeesAndOtherMember2020-07-012020-09-300001690680nmrk:ServicingFeesAndOtherMember2019-07-012019-09-300001690680nmrk:ServicingFeesAndOtherMember2020-01-012020-09-300001690680nmrk:ServicingFeesAndOtherMember2019-01-012019-09-300001690680nmrk:MortgageServicingRightsMember2020-06-300001690680nmrk:MortgageServicingRightsMember2019-06-300001690680nmrk:MortgageServicingRightsMember2019-12-310001690680nmrk:MortgageServicingRightsMember2018-12-310001690680nmrk:MortgageServicingRightsMember2020-07-012020-09-300001690680nmrk:MortgageServicingRightsMember2019-07-012019-09-300001690680nmrk:MortgageServicingRightsMember2020-01-012020-09-300001690680nmrk:MortgageServicingRightsMember2019-01-012019-09-300001690680nmrk:MortgageServicingRightsMember2020-09-300001690680nmrk:MortgageServicingRightsMember2019-09-300001690680srt:MinimumMember2019-01-012019-12-310001690680srt:MinimumMember2020-01-012020-09-300001690680srt:MaximumMember2019-01-012019-12-310001690680srt:MaximumMember2020-01-012020-09-300001690680srt:MinimumMembernmrk:DiscountRateOneMember2020-09-300001690680srt:MinimumMembernmrk:DiscountRateOneMember2019-12-310001690680srt:MaximumMembernmrk:DiscountRateTwoMember2020-09-300001690680srt:MaximumMembernmrk:DiscountRateTwoMember2019-12-310001690680nmrk:DiscountRateOneMember2020-01-012020-09-300001690680nmrk:DiscountRateTwoMember2020-01-012020-09-300001690680nmrk:DiscountRateOneMember2019-01-012019-12-310001690680nmrk:DiscountRateTwoMember2019-01-012019-12-310001690680us-gaap:TrademarksAndTradeNamesMember2020-09-300001690680us-gaap:LicensingAgreementsMember2020-09-300001690680us-gaap:TrademarksAndTradeNamesMember2020-09-300001690680us-gaap:TrademarksAndTradeNamesMember2020-01-012020-09-300001690680us-gaap:CustomerRelatedIntangibleAssetsMember2020-09-300001690680us-gaap:CustomerRelatedIntangibleAssetsMember2020-01-012020-09-300001690680us-gaap:LicensingAgreementsMember2020-09-300001690680us-gaap:LicensingAgreementsMember2020-01-012020-09-300001690680us-gaap:NoncompeteAgreementsMember2020-09-300001690680us-gaap:NoncompeteAgreementsMember2020-01-012020-09-300001690680us-gaap:CustomerContractsMember2020-09-300001690680us-gaap:CustomerContractsMember2020-01-012020-09-300001690680nmrk:BelowMarketLeasesMember2020-09-300001690680nmrk:BelowMarketLeasesMember2020-01-012020-09-300001690680us-gaap:TrademarksAndTradeNamesMember2019-12-310001690680us-gaap:LicensingAgreementsMember2019-12-310001690680us-gaap:TrademarksAndTradeNamesMember2019-12-310001690680us-gaap:TrademarksAndTradeNamesMember2019-01-012019-12-310001690680us-gaap:CustomerRelatedIntangibleAssetsMember2019-12-310001690680us-gaap:CustomerRelatedIntangibleAssetsMember2019-01-012019-12-310001690680us-gaap:LicensingAgreementsMember2019-12-310001690680us-gaap:LicensingAgreementsMember2019-01-012019-12-310001690680us-gaap:NoncompeteAgreementsMember2019-12-310001690680us-gaap:NoncompeteAgreementsMember2019-01-012019-12-310001690680us-gaap:CustomerContractsMember2019-12-310001690680us-gaap:CustomerContractsMember2019-01-012019-12-310001690680nmrk:BelowMarketLeasesMember2019-12-310001690680nmrk:BelowMarketLeasesMember2019-01-012019-12-310001690680nmrk:LeaseHoldImprovementsAndOtherFixedAssetsMember2020-09-300001690680nmrk:LeaseHoldImprovementsAndOtherFixedAssetsMember2019-12-310001690680us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-09-300001690680us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2019-12-310001690680us-gaap:ComputerEquipmentMember2020-09-300001690680us-gaap:ComputerEquipmentMember2019-12-310001690680us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-07-012020-09-300001690680us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2020-01-012020-09-300001690680srt:MinimumMember2020-09-300001690680srt:MaximumMember2020-09-300001690680nmrk:CantorFitzgeraldCoMember2020-09-300001690680nmrk:CantorFitzgeraldCoMember2019-12-310001690680nmrk:WarehouseFacilityDueOctoberEightTwoThousandTwentyOneMembernmrk:CommittedLinesMember2020-09-300001690680nmrk:WarehouseFacilityDueOctoberEightTwoThousandTwentyOneMember2020-09-300001690680nmrk:WarehouseFacilityDueOctoberEightTwoThousandTwentyOneMember2019-12-310001690680nmrk:CommittedLinesMembernmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneMember2020-09-300001690680nmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneMember2020-09-300001690680nmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneMember2019-12-310001690680nmrk:CommittedLinesMembernmrk:WarehouseFacilityDueSeptemberTwentyFifthTwoThousandTwentyOneMember2020-09-300001690680nmrk:WarehouseFacilityDueSeptemberTwentyFifthTwoThousandTwentyOneMember2020-09-300001690680nmrk:WarehouseFacilityDueSeptemberTwentyFifthTwoThousandTwentyOneMember2019-12-310001690680nmrk:UncommittedLinesMembernmrk:FannieMaeRepurchaseAgreementOpenMaturityMember2020-09-300001690680nmrk:FannieMaeRepurchaseAgreementOpenMaturityMember2020-09-300001690680nmrk:FannieMaeRepurchaseAgreementOpenMaturityMember2019-12-310001690680nmrk:CommittedLinesMember2020-09-300001690680nmrk:UncommittedLinesMember2020-09-300001690680nmrk:CommittedLinesMemberus-gaap:SubsequentEventMember2020-08-282020-10-270001690680nmrk:CommittedLinesMemberus-gaap:SubsequentEventMember2020-09-082020-10-310001690680nmrk:CommittedLinesMembernmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneSublimitMember2020-09-300001690680srt:MinimumMembernmrk:WarehouseFacilityDueOctoberEightTwoThousandTwentyOneMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300001690680nmrk:WarehouseFacilityDueOctoberEightTwoThousandTwentyOneMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMember2020-01-012020-09-300001690680srt:MinimumMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneMember2020-01-012020-09-300001690680us-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMembernmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneMember2020-01-012020-09-300001690680srt:MinimumMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:WarehouseFacilityDueSeptemberTwentyFifthTwoThousandTwentyOneMember2020-01-012020-09-300001690680us-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMembernmrk:WarehouseFacilityDueSeptemberTwentyFifthTwoThousandTwentyOneMember2020-01-012020-09-300001690680us-gaap:LondonInterbankOfferedRateLIBORMembernmrk:FannieMaeRepurchaseAgreementOpenMaturityMember2020-01-012020-09-300001690680us-gaap:LondonInterbankOfferedRateLIBORMembernmrk:CommittedLinesMembernmrk:WarehouseFacilityDueJuneSixteenTwoThousandTwentyOneSublimitMember2020-01-012020-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2020-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2019-12-310001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-12-310001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2018-11-060001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2018-11-010001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2020-07-012020-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2019-07-012019-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2020-01-012020-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2019-01-012019-09-300001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMemberus-gaap:SeniorNotesMember2020-06-160001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:FederalFundsEffectiveSwapRateMembernmrk:InterestRateOptionTwoMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembernmrk:OneMonthLIBORMembernmrk:InterestRateOptionTwoMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:InterestRateOptionTwoMember2018-11-282018-11-280001690680srt:MinimumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:InterestRateOptionTwoMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMembernmrk:InterestRateOptionTwoMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:InterestRateOptionOneMember2018-11-282018-11-280001690680srt:MinimumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembernmrk:InterestRateOptionOneMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMembernmrk:InterestRateOptionOneMember2018-11-282018-11-280001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-02-260001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-02-262020-02-260001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-03-160001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-03-162020-03-160001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-01-012020-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberus-gaap:SubsequentEventMember2020-10-142020-10-140001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:WeightedAverageMember2020-01-012020-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMembersrt:WeightedAverageMember2019-01-012019-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2020-07-012020-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-07-012019-09-300001690680us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMember2019-01-012019-09-300001690680nmrk:FannieMaeDUSOrFreddieTargetedAffordableHousingLoansMembersrt:MaximumMember2020-01-012020-09-30nmrk:loan0001690680us-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-300001690680us-gaap:FinancingReceivables60To89DaysPastDueMember2020-01-012020-09-300001690680nmrk:CumulativeEffectPeriodofAdoptionAdjustmentMember2018-12-310001690680nmrk:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2019-12-310001690680us-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberstpr:CAus-gaap:LiabilitiesTotalMember2020-01-012020-09-300001690680stpr:TXus-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberus-gaap:LiabilitiesTotalMember2020-01-012020-09-300001690680us-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberus-gaap:LiabilitiesTotalMember2020-01-012020-09-300001690680us-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberstpr:CAus-gaap:LiabilitiesTotalMember2019-01-012019-12-310001690680stpr:TXus-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberus-gaap:LiabilitiesTotalMember2019-01-012019-12-310001690680us-gaap:CreditConcentrationRiskMembernmrk:FannieMaeDUSAndFreddieMacTAHLoansMemberus-gaap:LiabilitiesTotalMember2019-01-012019-12-310001690680us-gaap:FairValueInputsLevel1Member2020-09-300001690680us-gaap:FairValueInputsLevel2Member2020-09-300001690680us-gaap:FairValueInputsLevel3Member2020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel1Member2020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001690680nmrk:NasdaqForwardsMember2020-09-300001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel1Member2020-09-300001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001690680us-gaap:InterestRateLockCommitmentsMember2020-09-300001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel1Member2020-09-300001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel2Member2020-09-300001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel3Member2020-09-300001690680nmrk:ForwardSaleContractsMember2020-09-300001690680us-gaap:FairValueInputsLevel1Member2019-12-310001690680us-gaap:FairValueInputsLevel2Member2019-12-310001690680us-gaap:FairValueInputsLevel3Member2019-12-310001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel1Member2019-12-310001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel2Member2019-12-310001690680nmrk:NasdaqForwardsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001690680nmrk:NasdaqForwardsMember2019-12-310001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel1Member2019-12-310001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Member2019-12-310001690680us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001690680us-gaap:InterestRateLockCommitmentsMember2019-12-310001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel1Member2019-12-310001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel2Member2019-12-310001690680nmrk:ForwardSaleContractsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001690680nmrk:ForwardSaleContractsMember2019-12-310001690680us-gaap:InterestRateLockCommitmentsMember2020-01-012020-09-300001690680nmrk:ForwardSaleContractsMember2020-01-012020-09-300001690680nmrk:NasdaqForwardsMember2020-01-012020-09-300001690680nmrk:ContingentConsiderationLiabilityMember2019-12-310001690680nmrk:ContingentConsiderationLiabilityMember2020-01-012020-09-300001690680nmrk:ContingentConsiderationLiabilityMember2020-09-300001690680us-gaap:InterestRateLockCommitmentsMember2018-12-310001690680us-gaap:InterestRateLockCommitmentsMember2019-01-012019-12-310001690680nmrk:ForwardSaleContractsMember2018-12-310001690680nmrk:ForwardSaleContractsMember2019-01-012019-12-310001690680nmrk:NasdaqForwardsMember2018-12-310001690680nmrk:NasdaqForwardsMember2019-01-012019-12-310001690680nmrk:ContingentConsiderationLiabilityMember2018-12-310001690680nmrk:ContingentConsiderationLiabilityMember2019-01-012019-12-310001690680srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2020-09-300001690680srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2020-09-300001690680us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMember2020-09-300001690680srt:MinimumMembernmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMember2020-09-300001690680srt:MaximumMembernmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMember2020-09-300001690680nmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMembersrt:WeightedAverageMember2020-09-300001690680srt:MinimumMembernmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:FairValueInputsLevel3Member2020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-09-300001690680nmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2020-09-300001690680srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2019-12-310001690680srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMember2019-12-310001690680us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMember2019-12-310001690680srt:MinimumMemberus-gaap:FairValueInputsLevel3Membernmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMember2019-12-310001690680srt:MaximumMemberus-gaap:FairValueInputsLevel3Membernmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMember2019-12-310001690680us-gaap:FairValueInputsLevel3Membernmrk:MeasurementInputExpectedEarnoutAndContingenciesRateMembersrt:WeightedAverageMember2019-12-310001690680srt:MinimumMembernmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:FairValueInputsLevel3Member2019-12-310001690680nmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2019-12-310001690680nmrk:NasdaqForwardsMemberus-gaap:MeasurementInputPriceVolatilityMemberus-gaap:FairValueInputsLevel3Membersrt:WeightedAverageMember2019-12-310001690680us-gaap:FairValueMeasurementsNonrecurringMember2020-09-300001690680us-gaap:FairValueMeasurementsNonrecurringMember2019-12-310001690680nmrk:CantorFitzgeraldLimitedPartnershipAndBGCPartnersIncorporationMember2020-07-012020-09-300001690680nmrk:CantorFitzgeraldLimitedPartnershipAndBGCPartnersIncorporationMember2019-07-012019-09-300001690680nmrk:CantorFitzgeraldLimitedPartnershipAndBGCPartnersIncorporationMember2020-01-012020-09-300001690680nmrk:CantorFitzgeraldLimitedPartnershipAndBGCPartnersIncorporationMember2019-01-012019-09-300001690680nmrk:EmployeeLoansMember2020-09-300001690680nmrk:EmployeeLoansMember2019-12-310001690680nmrk:EmployeeLoansMember2020-07-012020-09-300001690680nmrk:EmployeeLoansMember2019-07-012019-09-300001690680nmrk:EmployeeLoansMember2020-01-012020-09-300001690680nmrk:EmployeeLoansMember2019-01-012019-09-30nmrk:Employee0001690680nmrk:CantorCommercialRealEstateCompanyMember2018-05-010001690680nmrk:CantorCommercialRealEstateCompanyMember2018-10-012018-10-310001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:NewmarkHoldingsLimitedPartnershipMember2018-10-012018-10-310001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:NewmarkHoldingsLimitedPartnershipMember2020-01-012020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMember2020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMember2018-05-012018-05-010001690680nmrk:CantorCommercialRealEstateCompanyMember2019-12-310001690680nmrk:CantorCommercialRealEstateCompanyMember2020-07-310001690680nmrk:CantorFitzgeraldLimitedPartnershipAndBGCPartnersIncorporationMembernmrk:GovernmentSponsoredEnterpriseLoansMember2019-02-012019-02-280001690680nmrk:CantorCommercialRealEstateCompanyMember2020-07-012020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMember2019-07-012019-09-300001690680nmrk:CantorCommercialRealEstateCompanyMember2020-01-012020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMember2019-01-012019-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:LoanReferralAgreementMember2019-07-012019-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:LoanReferralAgreementMember2019-01-012019-09-300001690680nmrk:PrimaryServicingRightsMember2020-07-012020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:PrimaryServicingRightsMember2019-07-012019-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:PrimaryServicingRightsMember2020-01-012020-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:PrimaryServicingRightsMember2019-01-012019-09-300001690680nmrk:CantorCommercialRealEstateCompanyMembernmrk:PrimaryServicingRightsMember2020-07-012020-09-300001690680nmrk:ThirdPartyBankAndCantorCommercialRealEstateLPMemberus-gaap:RealEstateLoanMember2019-07-220001690680nmrk:ThirdPartyBankAndCantorCommercialRealEstateLPMembersrt:ChiefExecutiveOfficerMember2019-07-222019-07-220001690680nmrk:ThirdPartyBankAndCantorCommercialRealEstateLPMember2019-08-162019-08-160001690680srt:BoardOfDirectorsChairmanMembernmrk:PreferredUnitsMember2019-12-192019-12-190001690680srt:BoardOfDirectorsChairmanMember2019-12-192019-12-190001690680srt:BoardOfDirectorsChairmanMember2019-12-190001690680srt:BoardOfDirectorsChairmanMembernmrk:PreferredUnitsMember2019-12-190001690680srt:ChiefExecutiveOfficerMembernmrk:PreferredUnitsMember2019-12-192019-12-190001690680srt:ChiefExecutiveOfficerMember2019-12-192019-12-190001690680srt:ChiefExecutiveOfficerMember2019-12-190001690680srt:ChiefExecutiveOfficerMembernmrk:PreferredUnitsMember2019-12-190001690680srt:ExecutiveVicePresidentMembernmrk:PreferredUnitsMembernmrk:PSUMember2019-12-190001690680srt:ExecutiveVicePresidentMembernmrk:NonExchangeablePPSUMembernmrk:PreferredUnitsMember2019-12-190001690680srt:ExecutiveVicePresidentMembernmrk:PreferredUnitsMember2019-12-190001690680nmrk:NewmarkHoldingsPSUsExchangedMembersrt:ExecutiveVicePresidentMembernmrk:PreferredUnitsMember2019-12-192019-12-190001690680nmrk:NewmarkHoldingsPSUsExchangedMembersrt:ExecutiveVicePresidentMember2019-12-192019-12-190001690680nmrk:NewmarkHoldingsPSUsExchangedMembersrt:ExecutiveVicePresidentMember2019-12-190001690680srt:ChiefFinancialOfficerMembernmrk:PreferredUnitsMember2019-12-192019-12-190001690680srt:ChiefFinancialOfficerMember2019-12-192019-12-190001690680srt:ChiefFinancialOfficerMember2019-12-190001690680srt:ChiefFinancialOfficerMembernmrk:PreferredUnitsMember2019-12-190001690680us-gaap:CommonClassAMembersrt:ExecutiveVicePresidentMember2019-10-302019-10-300001690680us-gaap:CommonClassAMembersrt:ExecutiveVicePresidentMember2019-12-192019-12-190001690680nmrk:CFRealEstateFinanceHoldingsLimitedPartnershipMember2017-09-080001690680nmrk:BGCPartnersIncMemberus-gaap:CommonClassBMember2018-11-300001690680us-gaap:CommonClassAMember2018-11-302018-11-300001690680us-gaap:CommonClassBMember2018-11-302018-11-300001690680nmrk:BGCPartnersIncMembernmrk:CantorAndCFGMMemberus-gaap:CommonClassBMember2018-11-302018-11-300001690680nmrk:CantorAndCFGMMemberus-gaap:CommonClassBMember2018-11-302018-11-300001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkUnitsMember2018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMemberus-gaap:CommonClassAMembernmrk:NewmarkUnitsMember2018-03-072018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMemberus-gaap:CommonClassBMembernmrk:NewmarkUnitsMember2018-03-072018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkOpCoMembernmrk:NewmarkUnitsMember2018-03-072018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkOpCoMemberus-gaap:CommonClassAMembernmrk:NewmarkUnitsMember2018-03-072018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkUnitsMember2018-11-292018-11-300001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:CantorMembernmrk:NewmarkUnitsMember2018-11-292018-11-300001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkUnitsMember2018-11-300001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkUnitsMember2018-03-072018-03-070001690680nmrk:BGCPartnersLPAndItsOperatingSubsidiariesMembernmrk:NewmarkOpCoMembernmrk:NewmarkUnitsMember2018-03-070001690680nmrk:CantorFitzgeraldCoMember2018-06-182018-09-260001690680nmrk:SixPointOneTwoFivePercentSeniorNotesMembernmrk:CantorFitzgeraldCoMember2018-11-060001690680nmrk:CantorCreditAgreementMembernmrk:CantorFitzgeraldCoMember2018-11-300001690680nmrk:CantorCreditAgreementMembernmrk:CantorFitzgeraldCoMember2018-11-302018-11-300001690680srt:AffiliatedEntityMembernmrk:BGCHoldingPartnershipUnitsMember2020-05-150001690680srt:AffiliatedEntityMembernmrk:BGCHoldingPartnershipUnitsMember2020-07-012020-09-300001690680srt:AffiliatedEntityMembernmrk:BGCHoldingPartnershipUnitsMember2020-01-012020-09-300001690680nmrk:LongTermEquityIncentivePlanMembersrt:MaximumMemberus-gaap:CommonClassAMember2017-12-130001690680nmrk:ExecutivesAndNonExecutivesEmployeesMember2020-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMember2020-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2020-07-012020-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2019-07-012019-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2020-01-012020-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2019-01-012019-09-300001690680srt:ParentCompanyMemberus-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300001690680srt:ParentCompanyMemberus-gaap:RestrictedStockUnitsRSUMember2019-07-012019-09-300001690680srt:ParentCompanyMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680srt:ParentCompanyMemberus-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-300001690680srt:ParentCompanyMember2020-07-012020-09-300001690680srt:ParentCompanyMember2019-07-012019-09-300001690680srt:ParentCompanyMember2020-01-012020-09-300001690680srt:ParentCompanyMember2019-01-012019-09-300001690680srt:ParentCompanyMember2018-12-310001690680nmrk:BGCHoldingsLimitedPartnershipMember2018-12-310001690680srt:ParentCompanyMember2019-01-012019-12-310001690680nmrk:BGCHoldingsLimitedPartnershipMember2019-01-012019-12-310001690680srt:ParentCompanyMember2019-12-310001690680nmrk:BGCHoldingsLimitedPartnershipMember2019-12-310001690680nmrk:BGCHoldingsLimitedPartnershipMember2020-01-012020-09-300001690680srt:ParentCompanyMember2020-09-300001690680nmrk:BGCHoldingsLimitedPartnershipMember2020-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2020-09-300001690680nmrk:LimitedPartnershipUnitsMembernmrk:BGCHoldingsLimitedPartnershipMember2020-09-300001690680srt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2019-12-310001690680nmrk:LimitedPartnershipUnitsMembernmrk:BGCHoldingsLimitedPartnershipMember2019-12-310001690680nmrk:RegularUnitsMembersrt:ParentCompanyMember2020-09-300001690680nmrk:RegularUnitsMembernmrk:BGCHoldingsLimitedPartnershipMember2020-09-300001690680nmrk:PreferredUnitsMembersrt:ParentCompanyMember2020-09-300001690680nmrk:PreferredUnitsMembernmrk:BGCHoldingsLimitedPartnershipMember2020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2020-07-012020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2019-07-012019-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2020-01-012020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2019-01-012019-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMember2019-12-310001690680nmrk:BGCHoldingPartnershipUnitsMember2019-01-012019-12-310001690680srt:MinimumMembersrt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2020-01-012020-09-300001690680srt:MaximumMembersrt:ParentCompanyMembernmrk:LimitedPartnershipUnitsMember2020-01-012020-09-300001690680nmrk:BGCHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2020-07-012020-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2020-01-012020-09-300001690680nmrk:BGCHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2019-07-012019-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2019-07-012019-09-300001690680nmrk:BGCHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2019-01-012019-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMembernmrk:LimitedPartnershipUnitsMember2019-01-012019-09-300001690680nmrk:LimitedPartnershipUnitsMember2020-09-300001690680nmrk:LimitedPartnershipUnitsMember2019-12-310001690680nmrk:LimitedPartnershipUnitsMember2020-01-012020-09-300001690680nmrk:LimitedPartnershipUnitsMember2020-01-012020-03-310001690680nmrk:LimitedPartnershipUnitsMember2020-07-012020-09-300001690680nmrk:NonDistributionEarningUnitsMember2020-07-012020-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2018-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2018-12-312018-12-310001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2018-12-310001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2018-12-312018-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2019-01-012019-12-310001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2019-01-012019-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2019-12-310001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2019-12-310001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2020-09-300001690680srt:MinimumMembernmrk:NewmarkHoldingsLimitedPartnershipMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680nmrk:NewmarkHoldingsLimitedPartnershipMembersrt:MaximumMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680srt:MinimumMembernmrk:BGCHoldingPartnershipUnitsMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680nmrk:BGCHoldingPartnershipUnitsMembersrt:MaximumMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-300001690680us-gaap:ConstructionLoansMember2020-09-300001690680us-gaap:ConstructionLoansMember2019-12-310001690680nmrk:AcquisitionsFromTwoThousandFourteenThroughTwoThousandEighteenMember2020-09-300001690680us-gaap:SubsequentEventMember2020-11-042020-11-04

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
 

(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended 09/30/2020
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File Numbers: 001-38329
NEWMARK GROUP, INC.
(Exact name of Registrant as specified in its charter)
Delaware81-4467492
(State or other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification Number)
125 Park Avenue
New York, New York 10017
(212) 372-2000
(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)
 
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s) Name of Each Exchange on Which Registered
Class A Common Stock, $0.01 par valueNMRK The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definition of “large accelerated filer”, “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company
  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.
ClassOutstanding at November 4, 2020
Class A Common Stock, par value $0.01 per share159,084,572 shares
Class B Common Stock, par value $0.01 per share21,285,533 shares

1


NEWMARK GROUP, INC.

TABLE OF CONTENTS
  Page
PART I - FINANCIAL INFORMATION
   
ITEM 1.FINANCIAL STATEMENTS (unaudited)
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Comprehensive Income
Condensed Consolidated Statements of Changes in Equity
Condensed Consolidated Statements of Cash Flows
Notes to Condensed Consolidated Financial Statements
ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 4.CONTROLS AND PROCEDURES
PART II - OTHER INFORMATION
   
ITEM 1.LEGAL PROCEEDINGS
ITEM 1A.RISK FACTORS
ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 3.DEFAULTS UPON SENIOR SECURITIES
ITEM 4.
ITEM 5.OTHER INFORMATION
ITEM 6.

2


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (this “Form 10-Q”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, which we refer to as the “Securities Act,” and Section 21E of the Securities Exchange Act of 1934, as amended, which we refer to as the “Exchange Act.” Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as “may,” “will,” “should,” “estimates,” “predicts,” “possible,” “potential,” “continue,” “strategy,” “believes,” “anticipates,” “plans,” “expects,” “intends,” and similar expressions are intended to identify forward-looking statements.

Our actual results and the outcome and timing of certain events may differ significantly from the expectations discussed in the forward-looking statements. Factors that might cause or contribute to such a discrepancy include, but are not limited to, the factors set forth below:

the impact of the coronavirus (COVID-19) pandemic, including possible successive waves, on our operations, including the continued ability of our executives, employees, clients and third-party service providers to perform their functions at normal levels and our ability to continue providing on-site commercial property management services;
macroeconomic and other challenges and uncertainties resulting from the COVID-19 pandemic, such as the extent and duration of the impact on public health, including the development and distribution of an effective vaccine, public acceptance of the vaccine, and government and public reactions thereto, the economy, the commercial real estate services industry and the global financial markets, and consumer and corporate clients and customers, as well as the impact of government responses thereto, including the effect on demand for commercial real estate including office space, levels of new lease activity and renewals, frequency of loan defaults and forbearance, fluctuations in the mortgage-backed securities market and increases in transition expenses to reposition aspects of our business to address the changing business environment;
market conditions, transaction volumes, possible disruptions in transactions, potential deterioration of equity and debt capital markets for commercial real estate and related services, impact of significant changes in interest rates and our ability to access the capital markets as needed or on reasonable terms and conditions;
our ability to adapt to near-term or longer-term changes in the mix of demand for commercial real estate space, including decreased demand for urban office and retail space generally, which may be offset in whole or in part by increased demand for suburban office, data storage, fulfillment, and distribution centers and life sciences facilities;
pricing, commissions and fees, and market position with respect to any of our products and services and those of our competitors;
the effect of industry concentration and reorganization, reduction of customers and consolidation;
liquidity, regulatory requirements and the impact of credit market events, including the impact of COVID-19 and actions taken by governments and businesses in responses thereto on the credit markets and interest rates;
our relationship and transactions with Cantor Fitzgerald, L.P. (“Cantor”) and its affiliates, Newmark’s structure, including Newmark Holdings, L.P. (“Newmark Holdings”), which is owned by Newmark, Cantor, Newmark’s employee partners and other partners, and our operating partnership, which is owned jointly by us and Newmark Holdings (which we refer to as “Newmark OpCo” ) any related transactions, conflicts of interest, or litigation, any loans to or from Newmark or Cantor, Newmark Holdings or Newmark OpCo, including the balances and interest rates thereof from time to time and any convertible or equity features of any such loans, competition for and retention of brokers and other managers and key employees;
the impact on our stock price on the reduction of our dividend and potential future changes in our dividend policy and in Newmark Holdings distributions to partners and the related impact of such reductions, as well as the effect of layoffs, salary cuts, and expected lower commissions or bonuses on the repayment of partner loans;
market volatility as a result of the effects of COVID-19, which may not be sustainable or predictable in future periods;
our ability to grow in other geographic regions and to manage our recent overseas growth and the impact of the COVID-19 pandemic on these regions and transactions;
the impact of, and limitations on our ability to enter into certain transactions in order to preserve the tax-free treatment of, the November 2018 pro-rata distribution (the “Spin-Off”) by BGC Partners, Inc. (“BGC Partners” or “BGC”) to BGC stockholders of all of the shares of our common stock owned by BGC as of immediately prior to the effective time of the Spin-Off;
our ability to maintain or develop relationships with independently owned offices or affiliated businesses or partners in our business;
the impact of the Separation, the Spin-Off and related transactions or any restructuring or similar transactions on our business and financial results in current or future periods, including with respect to any assumed liabilities or indemnification obligations with respect to such transactions, the integration of any completed acquisitions and the use of proceeds of any completed dispositions;
the integration of acquired businesses with our business;
the rebranding of our current businesses from “Newmark Knight Frank” to “Newmark” or risks related to any potential dispositions of all or any portion of our existing or acquired businesses;
risks related to changes in our relationships with the Government Sponsored Enterprises (“GSEs”) and Housing and Urban Development (“HUD”), including the impact of COVID-19 and related changes in the credit markets, changes in prevailing interest rates and the risk of loss in connection with loan defaults;
risks related to changes in the future of the GSEs, including changes in the terms of applicable conservatorships and changes in their capabilities;
3


economic or geopolitical conditions or uncertainties, the actions of governments or central banks, including the impact of COVID-19 on the global markets, and related government stimulus packages, government ”shelter-in- place” orders and other restrictions on business and commercial activity and timing of reopening of local, national, and world economies, uncertainty regarding the nature, timing and consequences of the United Kingdom (“U.K.”)’s exit from the European Union (“EU”) following the withdrawal process, proposed transition period and related rulings, including potential reduction in investment in the U.K., and the pursuit of trade, border control or other related policies by the U.S. and/or other countries (including U.S. - China trade relations), political and civil unrest in the U.S., including demonstrations, riots, rising tensions with law enforcement, the impact of the U.S. Presidential and Congressional elections or in response to governmental mandates and other restrictions related to COVID-19 in the U.S. or abroad, political unrest or stalemates relating to the U.S. Presidential election, risks of illness of the U.S. President and other governmental officials, political and labor unrest in France, Hong Kong, China and other jurisdictions, conflict in the Middle East, the impact of U.S. government shutdowns, impasses other and elections, the impact of terrorist acts, acts of war or other violence or political unrest, as well as natural disasters or weather-related or similar events, including hurricanes as well as power failures, communication and transportation disruptions, and other interruptions of utilities or other essential services, and the impact of pandemics and other international health incidents, including COVID-19;
the effect on our business, clients, the markets in which we operate, and the economy in general of changes in the U.S. and foreign tax and other laws, including changes in tax rates, repatriation rules, and deductibility of interest, potential policy and regulatory changes in Mexico and other countries, sequestrations, uncertainties regarding the debt ceiling and the federal budget, and future changes to tax policy and other potential political policies resulting from elections and changes in governments;
the effect on our business of changes in interest rates, changes in benchmarks, including the phase out of the London Interbank Offering Rate (“LIBOR”), the level of worldwide governmental debt issuances, austerity programs, government stimulus packages, including those related to COVID-19, increases or decreases in deficits and the impact of increased government tax rates, and other changes to monetary policy, and potential political impasses or regulatory requirements, including increased capital requirements for banks and other institutions or changes in legislation, regulations and priorities;
extensive regulation of our business and clients, changes in regulations relating to commercial real estate and other industries, and risks relating to compliance matters, including regulatory examinations, inspections, investigations and enforcement actions, and any resulting costs, increased financial and capital requirements, enhanced oversight, remediation, fines, penalties, sanctions, and changes to or restrictions or limitations on specific activities, operations, compensatory arrangements, and growth opportunities, including acquisitions, hiring, and new businesses, products, or services, as well as risks related to our taking actions to ensure that we and Newmark Holdings are not deemed investment companies under the Investment Company Act of 1940;
the impact of illness or governmental actions preventing a significant portion of our workforce or the workforce of our clients or third-party vendors from performing functions that can only be conducted in-person, including on-site tours and inspections of buildings;
factors related to specific transactions or series of transactions as well as counterparty failure;
costs and expenses of developing, maintaining and protecting our intellectual property, as well as employment, regulatory, and other litigation, proceedings and their related costs, including related to acquisitions and other matters, including judgments, fines, or settlements paid, reputational risk, and the impact thereof on our financial results and cash flow in any given period;
our ability to maintain continued access to credit and availability of financing necessary to support our ongoing business needs, including to refinance indebtedness, and the risks associated with the resulting leverage, as well as fluctuations in interest rates;
certain other financial risks, including the possibility of future losses, indemnification obligations, assumed liabilities, reduced cash flows from operations, increased leverage, reduced availability under our Credit Facility (as defined below) resulting from recent borrowings, and the need for short or long-term borrowings, including from Cantor, the ability of Newmark to refinance its indebtedness, including in the credit markets weakened by the impact of COVID-19 and our ability to satisfy eligibility criteria for government-sponsored loan programs and changes to interest rates and market liquidity or our access to other sources of cash relating to acquisitions, dispositions, or other matters, potential liquidity and other risks relating to our ability to maintain continued access to credit and availability of financing necessary to support ongoing business needs on terms acceptable to us, if at all, and risks associated with the resulting leverage, including potentially causing a reduction in credit ratings and the associated outlooks and increased borrowing costs as well as interest rate and foreign currency exchange rate fluctuations;
risks associated with the temporary or longer-term investment of our available cash, including in Newmark OpCo, defaults or impairments on the Company’s investments (including investments in non-marketable securities), joint venture interests, stock loans or cash management vehicles and collectability of loan balances owed to us by partners, employees, Newmark OpCo or others;
the impact of any reduction in the willingness of commercial property owners to outsource their property management needs;
4


our ability to enter new markets or develop new products or services and to induce clients to use these products or services and to secure and maintain market share, and the impact of COVID-19 generally and on the commercial real estate services business in particular;
our ability to enter into marketing and strategic alliances, business combinations, restructuring, rebranding or other transactions, including acquisitions, dispositions, reorganizations, partnering opportunities and joint ventures, the anticipated benefits of any such transactions, relationships or growth and the future impact of any such transactions, relationships or growth on other businesses and financial results for current or future periods, the integration of any completed acquisitions and the use of proceeds of any completed dispositions, the impact of amendments and/or terminations of any strategic arrangements, and the value of any hedging entered into in connection with consideration received or to be received in connection with such dispositions and any transfers thereof;
our estimates or determinations of potential value with respect to various assets or portions of the Company’s business, including with respect to the accuracy of the assumptions or the valuation models or multiples used;
the impact of layoffs and furloughs on our business, including on our ability to hire and retain personnel, including brokers, salespeople, managers, and other professionals;
our ability to effectively manage any growth that may be achieved, including outside of the U.S., while ensuring compliance with all applicable financial reporting, internal control, legal compliance, and regulatory requirements;
our ability to identify and remediate any material weaknesses in internal controls that could affect the ability to properly maintain books and records, prepare financial statements and reports in a timely manner, control policies, practices and procedures, operations and assets, assess and manage the Company’s operational, regulatory and financial risks, and integrate acquired businesses and brokers, salespeople, managers and other professionals;
the impact of unexpected market moves and similar events;
information technology risks, including capacity constraints, failures, or disruptions in our systems or those of clients, counterparties, or other parties with which we interact, increased demands on such systems and on the telecommunications infrastructure from remote working during the COVID-19 pandemic, including cyber-security risks and incidents, compliance with regulations requiring data minimization and protection and preservation of records of access and transfers of data, privacy risk and exposure to potential liability and regulatory focus;
the impact of our recent significant reductions to our dividends and distributions and the timing and amounts of any future dividends or distributions, including our ability to meet expectations with respect to payment of dividends and repurchases of common stock or purchases of Newmark Holdings limited partnership interests or other equity interests in subsidiaries, including Newmark OpCo, including from Cantor or our executive officers, other employees, partners and others and the effect on the market for and trading price of our Class A common stock as a result of any such transactions;
the effectiveness of our governance, risks management, and oversight procedures and the impact of any potential transactions or relationships with related parties;
the impact of our environmental, social and governance (“ESG”) or “sustainability” ratings on the decisions by clients, investors, potential clients and other parties with respect to our business, investments in us or the market for and trading price of Newmark Class A common stock or other matters;
the fact that the prices at which shares of our Class A common stock are or may be sold in offerings or other transactions may vary significantly, and purchasers of shares in such offerings or other transactions, as well as existing stockholders, may suffer significant dilution if the price they paid for their shares is higher than the price paid by other purchasers in such offerings or transactions;
the effect on the markets for and trading prices of our Class A common stock due to COVID-19 and other market factors, as well as on various offerings and other transactions, including offerings of Class A common stock and convertible or exchangeable debt or other securities, repurchases of shares of Class A common stock and purchases or redemptions of Newmark Holdings limited partnership interests or other equity interests in us or its subsidiaries, any exchanges by Cantor of shares of Class A common stock for shares of Class B common stock, any exchanges or redemptions of limited partnership units and issuances of shares of Class A common stock in connection therewith, including in corporate or partnership restructurings, payment of dividends on Class A common stock and distributions on limited partnership interests of Newmark Holdings and Newmark OpCo, convertible arbitrage, hedging, and other transactions engaged in by us or holders of outstanding shares, debt or other securities, share sales and stock pledge, stock loans, and other financing transactions by holders of shares or units (including by Cantor executive officers, partners, employees or others), including of shares acquired pursuant to employee benefit plans, unit exchanges and redemptions, corporate or partnership restructurings, acquisitions, conversions of shares of our Class B common stock and other convertible securities into shares of our Class A common stock, stock pledge, stock loans, or other financing transactions, distributions of our Class A common stock by Cantor to its partners, including deferred distribution rights shares;
the effect of a potential conversion of BGC’s partnership into a corporation on Newmark, including but not limited to, impacts on Newmark’s employees holding BGC Holdings units and on our financial statements; and
other factors, including those that are discussed under “Risk Factors,” to the extent applicable.

5


The foregoing risks and uncertainties, as well as those risks and uncertainties set forth in this Quarterly Report on Form 10-Q, may cause actual results and events to differ materially from the forward-looking statements. The information included herein is given as of the filing date of this Form 10-Q with the Securities and Exchange Commission (the “SEC”), and future results or events could differ significantly from these forward-looking statements. We do not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
6


WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the SEC. These filings are also available to the public from the SEC’s website at www.sec.gov.

Our website address is www.nmrk.com. Through our website, we make available, free of charge, the following documents as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC: our Annual Reports on Form 10-K; our proxy statements for our annual and special stockholder meetings; our Quarterly Reports on Form 10-Q; our Current Reports on Form 8-K; Forms 3, 4 and 5 and Schedules 13D filed on behalf of Cantor Fitzgerald, L.P., CF Group Management, Inc., our directors and our executive officers; and amendments to those documents. Our website also contains additional information with respect to our industry and business. The information contained on, or that may be accessed through, our website is not part of, and is not incorporated into, this Quarterly Report on Form 10-Q.
7


PART I — FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
NEWMARK GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
(unaudited)
 September 30, 2020December 31, 2019
Assets:  
Current assets:  
Cash and cash equivalents$272,957 $163,564 
Restricted cash 63,705 58,308 
Marketable securities121,759 36,795 
Loans held for sale, at fair value1,537,734 215,290 
Receivables, net380,128 508,379 
Receivables from related parties652  
Other current assets (see Note 19)88,803 91,194 
Total current assets2,465,738 1,073,530 
Goodwill559,935 557,914 
Mortgage servicing rights, net453,187 413,644 
Loans, forgivable loans and other receivables from employees and partners, net479,792 403,710 
Right-of-use assets191,705 201,661 
Fixed assets, net102,016 98,016 
Other intangible assets, net46,554 45,226 
Other assets (see Note 19)379,685 407,898 
Total assets$4,678,612 $3,201,599 
Liabilities, Redeemable Partnership Interests, and Equity:
Current liabilities: 
Warehouse facilities collateralized by U.S. Government Sponsored Enterprises$1,510,333 $209,648 
Accrued compensation270,312 343,845 
Accounts payable, accrued expenses and other liabilities (see Note 29)465,333 417,069 
Securities loaned 36,735 
Payables to related parties5,185 38,090 
Total current liabilities2,251,163 1,045,387 
Long-term debt879,504 589,294 
Right-of-use liabilities216,993 227,942 
Other long-term liabilities (see Note 29)418,227 376,834 
Total liabilities3,765,887 2,239,457 
Commitments and contingencies (see Note 31)
Redeemable partnership interests22,608 21,517 
Equity:
Class A common stock, par value of $0.01 per share: 1,000,000,000 shares authorized; 163,198,127 and
      160,833,463 shares issued at September 30, 2020 and December 31, 2019, respectively, and 158,630,125
      and 156,265,461 shares outstanding at September 30, 2020 and December 31, 2019, respectively
1,632 1,608 
Class B common stock, par value of $0.01 per share: 500,000,000 shares authorized; 21,285,533 shares issued and
      outstanding at September 30, 2020 and December 31, 2019, convertible into Class A common stock
212 212 
Additional paid-in capital335,955 318,165 
Retained earnings348,430 313,112 
Contingent Class A common stock1,160 1,461 
Treasury stock at cost: 4,568,002 shares of Class A common stock at September 30, 2020 and December 31, 2019
(34,894)(34,894)
 Accumulated other comprehensive income (loss)(3,739) 
Total stockholders’ equity648,756 599,664 
Noncontrolling interests241,361 340,961 
Total equity890,117 940,625 
Total liabilities, redeemable partnership interests, and equity$4,678,612 $3,201,599 

The accompanying Notes to the Condensed Consolidated Financial Statements are an integral part of these financial statements.
8


NEWMARK GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited) 
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Revenues:  
Commissions$197,903 $357,908 $639,303 $979,307 
Gains from mortgage banking activities/originations, net91,192 72,332 210,686 148,769 
Management services, servicing fees and other146,829 156,394 453,583 457,692 
Total revenues435,924 586,634 1,303,572 1,585,768 
Expenses:
Compensation and employee benefits253,908 341,036 784,684 921,126 
Equity-based compensation and allocations of net income to limited
partnership units and FPUs
50,769 56,647 74,544 109,871 
Total compensation and employee benefits304,677 397,683 859,228 1,030,997 
Operating, administrative and other61,790 86,297 215,083 275,939 
Fees to related parties6,109 7,088 17,126 21,035 
Depreciation and amortization29,627 36,781 104,613 98,510 
Total operating expenses402,203 527,849 1,196,050 1,426,481 
Other income, net108,608 108,711 73,657 95,267 
Income from operations142,329 167,496 181,179 254,554 
Interest expense, net(9,532)(8,167)(28,617)(23,947)
Income before income taxes and noncontrolling interests132,797 159,329 152,562 230,607 
Provision for income taxes33,272 36,760 38,158 52,568 
Consolidated net income99,525 122,569 114,404 178,039 
Less: Net income attributable to noncontrolling interests24,176 33,871 30,563 49,769 
Net income available to common stockholders$75,349 $88,698 $83,841 $128,270 
Per share data:
Basic earnings per share
Net income available to common stockholders (1)
$72,101 $85,475 $75,703 $118,599 
Basic earning per share$0.40 $0.48 $0.42 $0.67 
Basic weighted-average shares of common stock outstanding179,501 177,020 178,527 178,122 
Fully diluted earnings per share
Net income for fully diluted shares$103,623 $99,500 $110,422 $122,379 
Fully diluted earnings per share$0.39 $0.48 $0.42 $0.66 
Fully diluted weighted-average shares of common stock
outstanding
266,793 206,616 265,104 185,413 
(1)Includes a reduction for dividends on preferred stock or exchangeable preferred partnership units in the amount of $3.2 million and $8.1 million for the three and nine months ended September 30, 2020, respectively, and $3.2 million and $9.7 million for the three and nine months ended September 30, 2019, respectively (see Note 1 — “Organization and Basis of Presentation”).
The accompanying Notes to the Condensed Consolidated Financial Statements are an integral part of these financial statements.
9


NEWMARK GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME  
(In thousands)
(unaudited) 
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Consolidated net income$99,525 $122,569 $114,404 $178,039 
Foreign currency translation adjustments(1,135) (3,739) 
Comprehensive income, net of tax98,390 122,569 110,665 178,039 
Less: Comprehensive income attributable to noncontrolling interests,
net of tax
24,176 33,871 30,563 49,769 
Comprehensive income available to common stockholders$74,214 $88,698 $80,102 $128,270 

The accompanying Notes to the Condensed Consolidated Financial Statements are an integral part of these financial statements.

10


NEWMARK GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(In thousands, except share and per share amounts)I
(unaudited)
 Class A
Common
Stock
Class B
Common
Stock
Additional
Paid-in
Capital
Contingent
Class A
Common Stock
Treasury
Stock
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Noncontrolling
Interests
Total
Balance, July 1, 2020$1,623 $212 $329,196 $1,050 $(34,894)$278,130 $(2,604)$312,099 $884,812 
Consolidated net income— — — — — 75,349 — 24,176 99,525 
Other comprehensive income (loss), net of tax— — — — — — (1,135)— (1,135)
Dividends to common stockholders— — — — — (1,799)— — (1,799)
Preferred dividends on exchangeable preferred
partnership units
— — — — — (3,250)— 3,250  
Earnings distributions to limited partnership interests
and other noncontrolling interests
— — — — — — — (6,530)(6,530)
Grant of exchangeability, redemption and issuance of
      Class A common stock, 818,689 shares
9 — 4,525 — — — — 745 5,279 
Issuance and redemption of limited partnership units
including contingent units
— — (110)110 — — — — — 
Restricted stock units compensation— — 2,265 — — — — 1,101 3,366 
Redemption of EPU's— — — — — — — (93,480)(93,480)
Other— — 79 — — — — — 79 
Balance, September 30, 2020$1,632 $212 $335,955 $1,160 $(34,894)$348,430 $(3,739)$241,361 $890,117 
 Class A
Common
Stock
Class B
Common
Stock
Additional
Paid-in
Capital
Contingent
Class A
Common Stock
Treasury
Stock
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Noncontrolling
Interests
Total
Balance, January 1, 2020$1,608 $212 $318,165 $1,461 $(34,894)$313,112 $— $340,961 $940,625 
Consolidated net income— — — — — 83,841 — 30,563 114,404 
Other comprehensive income (loss), net of tax— — — — — — (3,421)— (3,421)
Cumulative effect of the credit loss standard adoption,
net of tax
— — — — — (19,023)— — (19,023)
Dividends to common stockholders— — — — — (21,362)— — (21,362)
Preferred dividends on exchangeable preferred
partnership units
— — — — — (8,138)— 8,138  
Earnings distributions to limited partnership interests
and other noncontrolling interests
— — — — — — — (44,609)(44,609)
Grant of exchangeability, redemption and issuance of
      Class A common stock, 2,364,664 shares
24 — 11,188 — — — — (3,807)7,405 
Issuance and redemption of limited partnership units
including contingent units
— — 315 (301)— — — 893 907 
Restricted stock units compensation— — 5,587 — — — — 2,702 8,289 
Redemption of EPU's— — — — — — — (93,480)(93,480)
Other
— — 700 — — — (318)— 382 
Balance, September 30, 2020$1,632 $212 $335,955 $1,160 $(34,894)$348,430 $(3,739)$241,361 $890,117 

The accompanying Notes to the Condensed Consolidated Financial Statements are an integral part of these financial statements.
11


NEWMARK GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (CONTINUED)
(In thousands, except share and per share amounts)
(unaudited)
 Class A
Common
Stock
Class B
Common
Stock
Additional
Paid-in
Capital
Contingent
Class A
Common Stock
Treasury
Stock
Retained
Earnings
Noncontrolling
Interests
Total
Balance, July 1, 2019$1,583 $212 $292,441 $2,956 $(14,382)$277,115 $456,078 $1,016,003 
Consolidated net income— — — — — 88,698 33,871 122,569 
Dividends to common stockholders— — — — — (17,698)— (17,698)
Preferred dividends on exchangeable preferred partnership units— — — — — (3,224)3,224  
Earnings distributions to limited partnership interests and other
noncontrolling interests
— — — — — — (26,101)(26,101)
Grant of exchangeability, redemption and issuance of Class A common stock,
      588,972 shares
7 — 2,872 — — — (2,197)682 
Issuance of limited partnership units including contingent units— — 620 294 — — 1,801 2,715 
Issuance and redemption of limited partnership units including
contingent units
— — — — (20,087)— — (20,087)
Repurchase of 2,279,373 shares of Class A common stock
— — (2,363)— — — (