{
  "docId": "019dd923-5e88-73ef-bd5a-64885b718f1e",
  "docSlug": "9169de9da530a61b",
  "documentTitle": "Newmark May 2023 FI Conference Presentation Vf Final",
  "authorId": "GoldmanSachs",
  "authorName": "Newmark",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.779,
  "pageNumber": 40,
  "pageCount": 46,
  "prevPage": 39,
  "nextPage": 41,
  "slideType": "appendix_disclosure",
  "function": "other",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "This is a standard financial disclosure slide found in investor presentations.",
  "elementsJson": [
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5a-64885b718f1e/40",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5a-64885b718f1e",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-64885b718f1e.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-64885b718f1e#slide-40",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.35,
        "x": 0.05,
        "y": 0.38
      },
      "kind": "callout",
      "text": "MANAGEMENT RATIONALE FOR USING ADJUSTED EARNINGS",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "abc27588-30f2-462f-a7cb-a925ba46cd52",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Management believes that these measures help provide investors with a clearer understanding of Newmark's financial performance and offer useful information to both management and investors regarding certain financial and business trends.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-1d6d-7403-aea6-fd74ee55d240",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.12
      },
      "kind": "paragraph",
      "text": "The share count for Adjusted Earnings excludes certain shares and share equivalents expected to be issued in future periods but not yet eligible to receive dividends and/or distributions...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "75a91fcc-9856-4899-ad18-5b1849f6c16e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.74
      },
      "kind": "paragraph",
      "text": "For more information regarding Adjusted Earnings, see the sections of this document and/or the Company's most recent financial results press release...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8068e52c-ad21-4e10-85d3-4d064fff3097",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.42
      },
      "kind": "paragraph",
      "text": "Newmark's calculation of Adjusted Earnings excludes the items discussed above because they are either non-cash in nature, because the anticipated benefits from the expenditures are not expected to be fully realized until future periods...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a556ac64-f041-4843-baf9-fcef3b9fc44e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.58
      },
      "kind": "paragraph",
      "text": "The term \"Adjusted Earnings\" should not be considered in isolation or as an alternative to GAAP net income (loss)...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae66d47f-3bef-4ed1-bda0-156209da2f5b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.28
      },
      "kind": "paragraph",
      "text": "The declaration, payment, timing, and amount of any future dividends payable by the Company will be at the discretion of its Board of Directors using the fully diluted share count...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f51d392a-4ab1-4632-bc54-69bdaafe4320",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Non-GAAP Financial Measures (continued)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ba81201-5128-4d06-a96f-cf8efbe9c3fb",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Call to action",
      "slug": "call-to-action",
      "agent": null,
      "layer": "slide",
      "matchId": "458fdd94-9e1a-4fe2-9fe6-5a912d27e695",
      "evidence": "The slide mentions that management believes these measures help provide investors with a clearer understanding, but it's not a direct call to action.",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 46,
      "from": 22,
      "beatId": "45fc7695-5b39-4765-817d-3b54651fa595",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "Slides 22-46 outline the implications and next steps for Newmark",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}