Douglas Elliman (DOUG) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity Registrant Name	DOUGLAS ELLIMAN INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	1-41054
Entity Tax Identification Number	87-2176850
Entity Address, Address Line One	4400 Biscayne Boulevard
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33137
City Area Code	305
Local Phone Number	579-8000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	DOUG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		81,235,626
Entity Central Index Key	0001878897
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED COMBINED CONSOLIDATED

CONDENSED COMBINED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 203,669	$ 211,623
Receivables	27,404	32,488
Agent receivables, net	14,597	9,192
Restricted cash and cash equivalents	7,861	15,336
Other current assets	22,728	12,166
Total current assets	276,259	280,805
Property, plant and equipment, net	38,390	39,381
Operating lease right-of-use assets	125,646	123,538
Long-term investments (includes $3,033 and $3,756 at fair value)	7,396	8,094
Contract assets, net	25,723	28,996
Goodwill	32,571	32,571
Other intangible assets, net	74,224	74,421
Equity-method investments	2,508	2,521
Other assets	5,510	4,842
Total assets	588,227	595,169
Current liabilities:
Current portion of notes payable and other obligations	9,405	12,527
Current operating lease liability	23,207	22,666
Income taxes payable, net	2,407	1,240
Accounts payable	6,301	5,874
Commissions payable	30,796	35,766
Accrued salaries and benefits	7,376	25,446
Contract liabilities	16,774	6,689
Other current liabilities	28,048	22,259
Total current liabilities	124,314	132,467
Notes payable and other obligations less current portion	169	176
Deferred income taxes, net	11,412	11,412
Non-current operating lease liabilities	130,071	129,496
Contract liabilities	34,950	39,557
Other liabilities	188	188
Total liabilities	301,104	313,296
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized	0	0
Common stock, par value $0.01 per share, 250,000,000 shares authorized, 81,235,626 and 81,210,626 shares issued and outstanding	812	812
Additional paid-in capital	281,152	278,500
Retained earnings	3,070	622
Total Douglas Elliman Inc. stockholders' equity	285,034	279,934
Non-controlling interest	2,089	1,939
Total stockholders' equity	287,123	281,873
Total liabilities and stockholders' equity	$ 588,227	$ 595,169

CONDENSED COMBINED CONSOLIDAT_2

CONDENSED COMBINED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Long-term investments, fair value	$ 3,033	$ 3,756
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	81,235,626	81,210,626
Common stock, shares outstanding (in shares)	81,235,626	81,210,626

CONDENSED COMBINED CONSOLIDAT_3

CONDENSED COMBINED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Total revenues	$ 308,900	$ 272,776
Expenses:
Sales and marketing	19,306	19,354
General and administrative	32,830	19,307
Depreciation and amortization	2,079	2,123
Operating income	7,879	14,228
Other income (expenses):
Interest income	39	47
Equity in earnings from equity-method investments	532	0
Change in fair value of contingent liability	0	73
Investment income (loss)	752	(102)
Income before provision for income taxes	9,202	14,246
Income tax expense	2,917	281
Net income	6,285	13,965
Net loss attributed to non-controlling interest	225	0
Net income attributed to Douglas Elliman Inc.	$ 6,510	$ 13,965
Per basic common share:
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	$ 0.08	$ 0.18
Per diluted common share:
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	$ 0.08	$ 0.18
Commissions and other brokerage income
Revenues:
Total revenues	$ 295,109	$ 259,100
Property management
Revenues:
Total revenues	9,199	9,268
Other ancillary services
Revenues:
Total revenues	4,592	4,408
Real estate agent commissions
Expenses:
Costs related to sales	223,422	197,017
Operations and support
Expenses:
Costs related to sales	18,091	17,250
Technology
Expenses:
Costs related to sales	$ 5,293	$ 3,497

CONDENSED COMBINED CONSOLIDAT_4

CONDENSED COMBINED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Former Parent’s Net Investment	Non-controlling Interest
Beginning Balance (in shares) at Dec. 31, 2020		0
Beginning Balance at Dec. 31, 2020	$ 163,590	$ 0	$ 0	$ 0	$ 163,590	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13,965				13,965
Net transfers from Former Parent	5,969				5,969
Ending Balance (in shares) at Mar. 31, 2021		0
Ending Balance at Mar. 31, 2021	$ 183,524	$ 0	0	0	$ 183,524	0
Beginning Balance (in shares) at Dec. 31, 2021	81,210,626	81,210,626
Beginning Balance at Dec. 31, 2021	$ 281,873	$ 812	278,500	622		1,939
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,285			6,510		(225)
Dividends on common stock	(4,062)			(4,062)
Restricted stock grants, net (in shares)		25,000
Restricted stock grants, net	0
Stock-based compensation	2,652		2,652
Contributions from non-controlling interest	$ 375					375
Ending Balance (in shares) at Mar. 31, 2022	81,235,626	81,235,626
Ending Balance at Mar. 31, 2022	$ 287,123	$ 812	$ 281,152	$ 3,070		$ 2,089

CONDENSED COMBINED CONSOLIDAT_5

CONDENSED COMBINED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2022$ / shares
Statement of Stockholders' Equity [Abstract]
Distributions and dividends on common stock (in dollars per share)	$ 0.05

CONDENSED COMBINED CONSOLIDAT_6

CONDENSED COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Net cash (used in) provided by operating activities	$ (6,780)	$ 13,993
Cash flows from investing activities:
Investments in equity-method investments	(100)	0
Distributions from equity-method investments	60	0
Purchase of debt securities	(701)	0
Purchase of equity securities	(25)	0
Purchase of long-term investments	(200)	0
Capital expenditures	(849)	(597)
Net cash used in investing activities	(1,815)	(597)
Cash flows from financing activities:
Repayment of debt	(3,129)	0
Dividends on common stock	(4,062)	0
Contributions from non-controlling interest	375	0
Earn out payments	(18)	(21)
Net cash used in financing activities	(6,834)	(21)
Net (decrease) increase in cash, cash equivalents and restricted cash	(15,429)	13,375
Cash, cash equivalents and restricted cash, beginning of period	228,866	106,702
Cash, cash equivalents and restricted cash, end of period	$ 213,437	$ 120,077

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation : Douglas Elliman Inc. (“Douglas Elliman” or the “Company”) i s engaged in the real estate services and property technology investment business and is seeking to acquire or invest in additional real estate services and property technology, or PropTech, companies. The condensed combined consolidated financial statements of Douglas Elliman include the accounts of DER Holdings LLC and New Valley Ventures LLC (“New Valley Ventures”), directly and indirectly wholly-owned subsidiaries of the Company. DER Holdings LLC owns Douglas Elliman Realty, LLC and Douglas Elliman of California, Inc., which are engaged in the residential real estate brokerage business with their subsidiaries. The operations of New Valley Ventures consist of minority investments in innovative and cutting-edge PropTech companies. Certain references to “Douglas Elliman Realty” refer to the Company’s residential real estate brokerage business, including the operations of Douglas Elliman Realty, LLC and Douglas Elliman of California Inc., unless otherwise specified. Prior to its distribution (the “Distribution”) from Vector Group Ltd. (“Vector Group” or, collectively with its subsidiaries, “Former Parent”) in December 2021, Douglas Elliman was a subsidiary of Vector Group. Douglas Elliman’s condensed combined consolidated financial statements as of and for the period ended March 31, 2021 include certain indirect general and administrative costs allocated to it by Vector Group for certain functions and services including, but not limited to, executive office, finance and other administrative support. These expenses have been allocated to Douglas Elliman on the basis of direct usage, when identifiable. Douglas Elliman’s condensed combined consolidated results of operations, financial position and cash flows may not be indicative of its future performance and do not necessarily reflect what its combined consolidated results of operations, financial position and cash flows would have been had Douglas Elliman operated as a separate, stand-alone entity during the three months ended March 31, 2021, including changes in its operations and capitalization as a result of the separation and distribution from Vector Group. The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and, in management’s opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These financial statements as of and for the period ended March 31, 2021 reflect the combined historical results of our operations, financial position and cash flows in accordance with U.S. GAAP and SEC Staff Accounting Bulletin Topic 1-B, Allocation of Expenses and Related Disclosure in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity . References to GAAP issued by the Financial Accounting Standards Board (“FASB”) are to the FASB Accounting Standards Codification, also referred to as the “Codification” or “ASC.” These condensed combined consolidated financial statements should be read in conjunction with the combined consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”). The condensed combined consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year. In presenting the condensed combined consolidated financial statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. (b) Principles of Consolidation : The condensed combined consolidated financial statements presented herein have been prepared on a stand-alone basis and, prior to December 29, 2021, are derived from the combined consolidated financial statements and accounting records of Vector Group. The combined consolidated financial statements include the assets, liabilities, revenues, expenses and cash flows of DER Holdings LLC and New Valley Ventures as well as all other entities in which Douglas Elliman has a controlling financial interest. All intercompany balances and transactions have been eliminated in the combined consolidated financial statements. When evaluating an entity for consolidation, Douglas Elliman first determines whether an entity is within the scope of the guidance for consolidation of variable interest entities (“VIE”) and if it is deemed to be a VIE. If the entity is considered to be a VIE, Douglas Elliman determines whether it would be considered the entity’s primary beneficiary. Douglas Elliman consolidates those VIEs for which it has determined that it is the primary beneficiary. Douglas Elliman will consolidate an entity not deemed a VIE upon a determination that it has a controlling financial interest. For entities where Douglas Elliman does not have a controlling financial interest, the investments in such entities are classified as available-for-sale securities or accounted for using the equity or cost method, as appropriate. (c) Former Parent’s Net Investment : The Former Parent’s net investment in the condensed combined consolidated statement of stockholders’ equity represents Vector Group’s historical net investment in Douglas Elliman resulting from various transactions with and allocations from the Former Parent. Balances due to and due from the Former Parent and accumulated earnings attributable to Douglas Elliman operations have been presented as components of Former Parent’s net investment. (d) Estimates and Assumptions : The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant estimates subject to material changes in the near term include impairment charges and valuation of intangible assets. Actual results could differ from those estimates. (e) Earnings Per Share (“EPS”) : On December 29, 2021, the date of the Distribution, 77,720,626 shares of the Common Stock, par value $0.01 per share, were distributed to Vector Group shareholders of record as of December 20, 2021. This share amount is being utilized for the calculation of basic and diluted earnings per share for the period presented prior to the Distribution as all shares were owned by Vector Group prior to the Distribution. For the 2021 period, these shares are treated as issued and outstanding at January 1, 2021 for purposes of calculating historical basic and diluted earnings per share. The Company has restricted stock awards which will provide cash dividends at the same rate as paid on the common stock with respect to the shares underlying the restricted stock awards. These outstanding restricted stock awards represent participating securities under authoritative guidance. The Company first paid dividends during the three months ended March 31, 2022. As a result, in its calculation of basic EPS and dilutive EPS for the three months ended March 31, 2022, the Company adjusted its net income for the effect of these participating securities. For the three months ended March 31, 2021, the Company did not adjust its net income for the effect of these participating securities because the adjustment was negligible. Three Months Ended March 31, 2022 2021 Net income attributed to Douglas Elliman Inc. $ 6,510 $ 13,965 Income attributable to participating securities (275) — Net income available to common stockholders attributed to Douglas Elliman Inc. $ 6,235 $ 13,965 Basic EPS is computed by dividing net income available to common stockholders attributed to Douglas Elliman Inc. by the weighted-average number of shares outstanding, which will include vested restricted stock. Basic and diluted EPS were calculated using the following common shares for the periods presented below: Three Months Ended March 31, 2022 2021 Weighted-average shares for basic EPS 77,666,210 77,720,626 Plus incremental shares related to non-vested restricted stock 54,416 — Weighted-average shares for diluted EPS 77,720,626 77,720,626 (f) Reconciliation of Cash, Cash Equivalents and Restricted Cash : Restricted cash amounts included in current assets and other assets represent cash and cash equivalents required to be deposited into escrow for amounts required for letters of credit related to office leases, and certain deposit requirements for banking arrangements. The restrictions related to the letters of credit will remain in place for the duration of the respective lease. The restrictions related to the banking arrangements will remain in place for the duration of the arrangement. The components of “Cash, cash equivalents and restricted cash” in the condensed combined consolidated statements of cash flows were as follows: March 31, December 31, Cash and cash equivalents $ 203,669 $ 211,623 Restricted cash and cash equivalents included in current assets 7,861 15,336 Restricted cash and cash equivalents included in other assets 1,907 1,907 Total cash, cash equivalents, and restricted cash shown in the condensed combined consolidated statements of cash flows $ 213,437 $ 228,866 (g) Related Party Transactions : Agreements with Vector Group. The Company paid $1,050 under the Transition Services Agreement and $491 under the Aircraft Lease Agreement during the three months ended March 31, 2022. Vector Group has agreed to indemnify the Company for a contingent liability. The value of the contingent liability was $965 as of March 31, 2022. Accordingly, the Company has recorded a receivable equal to the amount of the contingent liability. Real estate commissions. Real estate commissions includes commissions of approximately $900 and $2,357 for the three months ended March 31, 2022 and 2021, respectively, from projects where the Company has been engaged by certain developers as the sole broker or the co-broker for several of the real estate development projects that Vector Group owns an interest in through its real estate venture investments. (h) Other Comprehensive Income: The Company does not have any activity that results in Other Comprehensive Income, therefore no statement of Comprehensive Income is included in the combined consolidated financial statements. (i) Subsequent Events: The Company has evaluated subsequent events through May 11, 2022, the date the financial statements were issued. (j) New Accounting Pronouncements : ASUs to be adopted in future periods: In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of the new guidance on its combined consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Disaggregation of Revenue In the following table, revenue is disaggregated by major services line and primary geographical market: Three Months Ended March 31, 2022 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 92,388 $ 50,079 $ 80,824 $ 51,884 $ 275,175 Commission and other brokerage income - development marketing 11,369 — 8,216 349 19,934 Property management revenue 9,041 158 — — 9,199 Escrow and title fees 717 271 — 3,604 4,592 Total revenue $ 113,515 $ 50,508 $ 89,040 $ 55,837 $ 308,900 Three Months Ended March 31, 2021 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 70,135 $ 56,250 $ 75,553 $ 41,078 $ 243,016 Commission and other brokerage income - development marketing 8,444 — 7,307 333 16,084 Property management revenue 9,095 173 — — 9,268 Escrow and title fees 466 417 — 3,525 4,408 Total revenue $ 88,140 $ 56,840 $ 82,860 $ 44,936 $ 272,776 Contract Balances The following table provides information about contract assets and contract liabilities from development marketing and commercial leasing contracts with customers: March 31, 2022 December 31, 2021 Receivables, which are included in accounts receivable - trade, net $ 2,730 $ 2,749 Contract assets, net, which are included in other current assets 9,179 2,187 Payables, which are included in other current liabilities 2,038 2,070 Contract liabilities, which are in current liabilities 16,774 6,689 Contract assets, net, which are in other assets 25,723 28,996 Contract liabilities, which are in other liabilities 34,950 39,557

Current Expected Credit Losses

Current Expected Credit Losses	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
CURRENT EXPECTED CREDIT LOSSES	CURRENT EXPECTED CREDIT LOSSES Real estate broker agent receivables: Douglas Elliman Realty is exposed to credit losses for various amounts due from real estate agents, which are included in Other current assets on the condensed combined consolidated balance sheets, net of an allowance for credit losses. The Company estimates its allowance for credit losses on receivables from agents based on an evaluation of aging, agent sales in pipeline, any security, specific exposures, historical experience of collections from the individual agents, and current and expected future market trends. The Company estimated that the credit losses for these receivables were $8,833 and $8,607 at March 31, 2022 and December 31, 2021, respectively. The following is the rollforward of the allowance for credit losses for the three months ended March 31, 2022: January 1, Current Period Provision Write-offs Recoveries March 31, Allowance for credit losses: Real estate broker agent receivables $ 8,607 $ 558 (1) $ 332 $ — $ 8,833 _____________________________ (1) The bad debt expense related to the real estate broker agent receivables is included in General and administrative expenses on the condensed combined consolidated statements of operations. The following is the rollforward of the allowance for credit losses for the three months ended March 31, 2021: January 1, Current Period Provision Write-offs Recoveries March 31, Allowance for credit losses: Real estate broker agent receivables $ 7,038 $ 385 (1) $ 109 $ — $ 7,314 _____________________________ (1) The bad debt expense related to the real estate broker agent receivables is included in General and administrative expenses on the condensed combined consolidated statements of operations.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	LEASES Leases The Company has operating leases for corporate and sales offices and equipment. The components of lease expense were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 8,169 $ 8,135 Short-term lease cost 257 200 Variable lease cost 985 956 Less: Sublease income (121) (88) Total lease cost $ 9,290 $ 9,203 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 9,196 $ 9,473 Right-of-use assets obtained in exchange for lease obligations: Operating leases 6,984 717 Supplemental balance sheet information related to leases was as follows: March 31, December 31, 2022 2021 Weighted average remaining lease term: Operating leases 7.42 7.65 Weighted average discount rate: Operating leases 8.89 % 9.12 % As of March 31, 2022, maturities of lease liabilities were as follows: Operating Leases Period Ending December 31: Remainder of 2022 $ 27,079 2023 33,222 2024 27,931 2025 23,399 2026 21,141 2027 18,898 Thereafter 61,901 Total lease payments 213,571 Less imputed interest (60,293) Total $ 153,278

Long-Term Investments

Long-Term Investments	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
LONG-TERM INVESTMENTS	LONG-TERM INVESTMENTS Long-term investments consisted of the following: March 31, 2022 December 31, 2021 PropTech convertible trading debt securities $ 3,077 $ 2,222 Long-term investment securities at fair value (1) 2,332 1,534 PropTech investments at cost 4,363 4,338 Total investments $ 9,772 $ 8,094 Less PropTech current convertible trading debt securities (2) 2,376 — Total long-term investments $ 7,396 $ 8,094 _____________________________ (1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820. (2) These amounts are included in Other current assets on the condensed combined consolidated balance sheets. Net gains recognized on long-term investment securities were as follows: Three Months Ended March 31, 2022 2021 Net gains recognized on PropTech convertible trading debt securities $ 154 $ — Net gains recognized on long-term investments at fair value 598 34 Net gains recognized on long-term investment securities $ 752 $ 34 (a) PropTech Convertible Trading Debt Securities: During the three months ended March 31, 2022, New Valley Ventures invested $701 into convertible notes of two additional PropTech ventures. The securities are classified as trading debt securities and are accounted for at fair value. The maturities of all of the convertible notes range from February 2023 to December 2023. (b) Long-Term Investment Securities at Fair Value: The following is a summary of unrealized and realized net gains recognized in net income on long-term investment securities at fair value during the three months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, 2022 2021 Net gains recognized on long-term investment securities $ 598 $ 34 The Company has unfunded commitments of $1,460 related to long-term investment securities at fair value as of March 31, 2022. (c) Equity Securities Without Readily Determinable Fair Values That Do Not Qualify for the NAV Practical Expedient

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS Equity-method investments consisted of the following: March 31, 2022 December 31, 2021 Ancillary services ventures $ 2,508 $ 2,521 At March 31, 2022, the Company’s ownership percentages in the investments accounted for under the equity method ranged from 17% to 50%, which meet the threshold for equity-method accounting. VIE Consideration: The Company has determined that the Company is not the primary beneficiary of any of its equity method investments because it does not control the activities that most significantly impact the economic performance of the investment. The Company determined that the entities were VIEs but the Company was not the primary beneficiary. Therefore, the Company’s equity method investments have been accounted for under the equity method of accounting. Maximum Exposure to Loss: The Company’s maximum exposure to loss from its equity method investments consisted of the net carrying value of the investments adjusted for any future capital commitments and/or guarantee arrangements. The maximum exposure to loss was $2,508 as of March 31, 2022.

Notes Payable and Other Obligat

Notes Payable and Other Obligations	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE AND OTHER OBLIGATIONS	NOTES PAYABLE AND OTHER OBLIGATIONS Notes payable and other obligations consisted of: March 31, 2022 December 31, 2021 Notes payable $ 9,375 $ 12,500 Other 199 203 Total notes payable and other obligations 9,574 12,703 Less: Current maturities (9,405) (12,527) Amount due after one year $ 169 $ 176 Notes Payable: Notes payable consists primarily of $9,375 of notes payable issued by DER Holdings LLC in connection with the acquisition of the 29.41% interest in Douglas Elliman on December 31, 2018. Principal of $20,625 has been repaid through March 31, 2022 and the remaining principal of $9,375 is due in 2022. Fair V alue of Notes Payable and Other Obligations: The estimated fair value of the Company’s notes payable and long-term debt were as follows: March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes payable $ 9,375 $ 9,375 $ 12,500 $ 12,500 Other 199 199 203 203 Notes payable and other obligations $ 9,574 $ 9,574 $ 12,703 $ 12,703 Notes payable and other obligations are carried on the condensed combined consolidated balance sheets at amortized cost. The fair value determinations disclosed above would be classified as Level 2 under the fair value hierarchy disclosed in Note 10 if such liabilities were recorded on the condensed combined consolidated balance sheets at fair value. The estimated fair value of the Company’s notes payable and other obligations has been determined by the Company using available information. However, considerable judgment is required to develop the estimates of fair value and, accordingly, the estimate presented herein is not necessarily indicative of the amount that could be realized in a current market exchange.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The financial statements of Douglas Elliman Inc. include the tax accounts of the following entities: (i) DER Holdings LLC, the parent of Douglas Elliman Realty LLC, is a single-member limited liability company that is a disregarded entity for U.S. income tax purposes, (ii) Douglas Elliman Realty LLC is a limited liability company that files as a partnership for U.S. income tax purposes, (iii) Douglas Elliman of California, Inc. is a corporation that reported on a separate company basis until February 28, 2019, then elected to become a consolidated subsidiary included in Vector Group’s consolidated U.S. income tax return until the Spin-off, and thereafter is a consolidated subsidiary of Douglas Elliman Inc. (iv) DER Holdings II LLC, a subsidiary of DER Holdings LLC, which has elected to be taxed as corporation for U.S. income tax purposes, and (v) New Valley Ventures LLC, NV Mortgage LLC and NV Title LLC, which are single member limited liability companies that are treated as disregarded entities for U.S. income tax purposes. Upon completion of the Spin-off, Douglas Elliman Inc. and its subsidiaries detailed above became a separate taxable entity for federal and state income tax purposes. After the the Distribution, the Company calculated its provision for income taxes based upon the taxable income attributable to its activity and the activity of its subsidiaries during this period. For the periods presented prior to the Distribution, the Company calculated its provision for income taxes by using a separate-return method and elected not to allocate tax expense to single-member limited liability companies or partnerships that did not incur income tax liability because they were not severally liable for the taxes of their owners. Prior to the Distribution, Douglas Elliman of California, Inc. and DER Holdings II LLC were the only two entities taxed as corporations for U.S. Income Tax purposes while the remaining entities were pass through entities for federal income tax purposes. Therefore, no income tax expense was allocated to entities other than DER Holdings II LLC, Douglas Elliman of California, Inc. and, for purposes of New York City UBT only, Douglas Elliman Realty, LLC. The Company’s income tax expense consisted of the following: Three Months Ended March 31, 2022 2021 Income before provision for income taxes $ 9,202 $ 14,246 Income tax expense using estimated annual effective income tax rate 2,917 4,097 Less Federal income tax expense attributable to pass-through entities — (3,816) Income tax expense $ 2,917 $ 281

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
INVESTMENTS AND FAIR VALUE MEASUREMENTS	INVESTMENTS AND FAIR VALUE MEASUREMENTS The Company’s financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of March 31, 2022 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 44,975 $ 44,975 $ — $ — Certificates of deposit (2) 569 — 569 — PropTech convertible trading debt securities 2,376 — — 2,376 Long-term investments PropTech convertible trading debt securities 701 — — 701 Long-term investment securities at fair value (3) 2,332 — — — Total long-term investments 3,033 — — 701 Total assets $ 50,953 $ 44,975 $ 569 $ 3,077 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed combined consolidated balance sheets, except for $7,861 that is included in current restricted cash and cash equivalents and $1,907 that is included in non-current restricted assets. (2) Amounts included in current restricted assets and non-current restricted assets on the condensed combined consolidated balance sheets. (3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. Fair Value Measurements as of December 31, 2021 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 51,492 $ 51,492 $ — $ — Certificates of deposit (2) 569 — 569 — Long-term investments PropTech convertible trading debt securities 2,222 — — 2,222 Long-term investment securities at fair value (3) 1,534 — — — Total long-term investments 3,756 — — 2,222 Total assets $ 55,817 $ 51,492 $ 569 $ 2,222 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed combined consolidated balance sheets, except for $15,336 that is included in current restricted assets and $1,907 that is included in non-current restricted assets. (2) Amounts included in current restricted assets and non-current restricted assets on the condensed combined consolidated balance sheets. (3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. The fair value of the Level 2 certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is the rate offered by the financial institution. The fair values of the Level 3 PropTech convertible trading debt securities were derived using a discounted cash flow model utilizing a probability-weighted expected return method based on the probabilities of different potential outcomes for the convertible trading debt securities. The long-term investments are based on NAV per share provided by the partnerships based on the indicated market value of the underlying assets or investment portfolio. In accordance with Subtopic 820-10, these investments are not classified under the fair value hierarchy disclosed above because they are measured at fair value using the NAV practical expedient. The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at March 31, 2022: Quantitative Information about Level 3 Fair Value Measurements Fair Value at March 31, Valuation Technique Unobservable Input Range (Actual) PropTech convertible trading debt securities $ 3,077 Discounted cash flow Interest rate 4% and 8% Maturity Feb 2023 - Dec 2023 Volatility 40.7% - 73.6% Discount rate 28.22% - 46.66% The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2021: Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Input Range (Actual) PropTech convertible trading debt securities $ 2,222 Discounted cash flow Interest rate 5 % Maturity Feb 2023 -Mar 2023 Volatility 37.7% - 86.8% Discount rate 27.25% - 46.83% In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record assets and liabilities at fair value on a nonrecurring basis. Generally, assets and liabilities are recorded at fair value on a nonrecurring basis as a result of impairment charges. The Company had no nonrecurring nonfinancial assets subject to fair value measurements as of March 31, 2022 and December 31, 2021, respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company’s business segments were Real Estate Brokerage and Corporate and Other. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Financial information for the Company’s operations before taxes and non-controlling interests for the three months ended March 31, 2022 and 2021 were as follows: Real Estate Brokerage Corporate and Other Total Three months ended March 31, 2022 Revenues $ 308,900 $ — $ 308,900 Operating income (loss) 14,541 (6,662) 7,879 Adjusted EBITDA attributed to Douglas Elliman (a) 17,662 (4,935) 12,727 Depreciation and amortization 2,079 — 2,079 Capital expenditures 849 — 849 Three months ended March 31, 2021 Revenues $ 272,776 $ — $ 272,776 Operating income 14,228 — 14,228 Adjusted EBITDA attributed to Douglas Elliman (a) 16,351 — 16,351 Depreciation and amortization 2,123 — 2,123 Capital expenditures 597 — 597 (a) The following table reconciles operating income to Adjusted EBITDA attributed to Douglas Elliman for the three months ended March 31, 2022 and 2021. Three months ended March 31, 2022 2021 Real estate brokerage segment Operating income $ 14,541 $ 14,228 Depreciation and amortization 2,079 2,123 Stock-based compensation 925 — Adjusted EBITDA 17,545 16,351 Adjusted EBITDA attributed to non-controlling interest 117 — Adjusted EBITDA attributed to Douglas Elliman $ 17,662 $ 16,351 Corporate and other segment Operating loss $ (6,662) $ — Stock-based compensation 1,727 — Adjusted EBITDA attributed to Douglas Elliman $ (4,935) $ —

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation : Douglas Elliman Inc. (“Douglas Elliman” or the “Company”) i s engaged in the real estate services and property technology investment business and is seeking to acquire or invest in additional real estate services and property technology, or PropTech, companies. The condensed combined consolidated financial statements of Douglas Elliman include the accounts of DER Holdings LLC and New Valley Ventures LLC (“New Valley Ventures”), directly and indirectly wholly-owned subsidiaries of the Company. DER Holdings LLC owns Douglas Elliman Realty, LLC and Douglas Elliman of California, Inc., which are engaged in the residential real estate brokerage business with their subsidiaries. The operations of New Valley Ventures consist of minority investments in innovative and cutting-edge PropTech companies. Certain references to “Douglas Elliman Realty” refer to the Company’s residential real estate brokerage business, including the operations of Douglas Elliman Realty, LLC and Douglas Elliman of California Inc., unless otherwise specified. Prior to its distribution (the “Distribution”) from Vector Group Ltd. (“Vector Group” or, collectively with its subsidiaries, “Former Parent”) in December 2021, Douglas Elliman was a subsidiary of Vector Group. Douglas Elliman’s condensed combined consolidated financial statements as of and for the period ended March 31, 2021 include certain indirect general and administrative costs allocated to it by Vector Group for certain functions and services including, but not limited to, executive office, finance and other administrative support. These expenses have been allocated to Douglas Elliman on the basis of direct usage, when identifiable. Douglas Elliman’s condensed combined consolidated results of operations, financial position and cash flows may not be indicative of its future performance and do not necessarily reflect what its combined consolidated results of operations, financial position and cash flows would have been had Douglas Elliman operated as a separate, stand-alone entity during the three months ended March 31, 2021, including changes in its operations and capitalization as a result of the separation and distribution from Vector Group. The unaudited, interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and, in management’s opinion, contain all adjustments, consisting only of normal recurring items, necessary for a fair statement of the results for the periods presented. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. These financial statements as of and for the period ended March 31, 2021 reflect the combined historical results of our operations, financial position and cash flows in accordance with U.S. GAAP and SEC Staff Accounting Bulletin Topic 1-B, Allocation of Expenses and Related Disclosure in Financial Statements of Subsidiaries, Divisions or Lesser Business Components of Another Entity . References to GAAP issued by the Financial Accounting Standards Board (“FASB”) are to the FASB Accounting Standards Codification, also referred to as the “Codification” or “ASC.” These condensed combined consolidated financial statements should be read in conjunction with the combined consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”). The condensed combined consolidated results of operations for interim periods should not be regarded as necessarily indicative of the results that may be expected for the entire year. In presenting the condensed combined consolidated financial statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates. (b) Principles of Consolidation : The condensed combined consolidated financial statements presented herein have been prepared on a stand-alone basis and, prior to December 29, 2021, are derived from the combined consolidated financial statements and accounting records of Vector Group. The combined consolidated financial statements include the assets, liabilities, revenues, expenses and cash flows of DER Holdings LLC and New Valley Ventures as well as all other entities in which Douglas Elliman has a controlling financial interest. All intercompany balances and transactions have been eliminated in the combined consolidated financial statements. When evaluating an entity for consolidation, Douglas Elliman first determines whether an entity is within the scope of the guidance for consolidation of variable interest entities (“VIE”) and if it is deemed to be a VIE. If the entity is considered to be a VIE, Douglas Elliman determines whether it would be considered the entity’s primary beneficiary. Douglas Elliman
Former Parent’s Net Investment	Former Parent’s Net Investment :
Estimates and Assumptions	Estimates and Assumptions :
Earnings Per Share (“EPS”)	Earnings Per Share (“EPS”) :
Reconciliation of Cash, Cash Equivalents and Restricted Cash	Reconciliation of Cash, Cash Equivalents and Restricted Cash :
Other Comprehensive Income	Other Comprehensive Income: The Company does not have any activity that results in Other Comprehensive Income, therefore no statement of Comprehensive Income is included in the combined consolidated financial statements.
Subsequent Events	Subsequent Events: The Company has evaluated subsequent events through May 11, 2022, the date the financial statements were issued.
New Accounting Pronouncements	New Accounting Pronouncements : ASUs to be adopted in future periods: In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The ASU requires that an acquirer recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is currently evaluating the impact of the new guidance on its combined consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Net Income for Purposes of Determining Basic and Diluted EPS	As a result, in its calculation of basic EPS and dilutive EPS for the three months ended March 31, 2022, the Company adjusted its net income for the effect of these participating securities. For the three months ended March 31, 2021, the Company did not adjust its net income for the effect of these participating securities because the adjustment was negligible. Three Months Ended March 31, 2022 2021 Net income attributed to Douglas Elliman Inc. $ 6,510 $ 13,965 Income attributable to participating securities (275) — Net income available to common stockholders attributed to Douglas Elliman Inc. $ 6,235 $ 13,965
Basic and Diluted EPS Calculation Shares	Basic and diluted EPS were calculated using the following common shares for the periods presented below: Three Months Ended March 31, 2022 2021 Weighted-average shares for basic EPS 77,666,210 77,720,626 Plus incremental shares related to non-vested restricted stock 54,416 — Weighted-average shares for diluted EPS 77,720,626 77,720,626
Schedule of Components of Cash, Cash Equivalents and Restricted Cash	The components of “Cash, cash equivalents and restricted cash” in the condensed combined consolidated statements of cash flows were as follows: March 31, December 31, Cash and cash equivalents $ 203,669 $ 211,623 Restricted cash and cash equivalents included in current assets 7,861 15,336 Restricted cash and cash equivalents included in other assets 1,907 1,907 Total cash, cash equivalents, and restricted cash shown in the condensed combined consolidated statements of cash flows $ 213,437 $ 228,866

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	In the following table, revenue is disaggregated by major services line and primary geographical market: Three Months Ended March 31, 2022 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 92,388 $ 50,079 $ 80,824 $ 51,884 $ 275,175 Commission and other brokerage income - development marketing 11,369 — 8,216 349 19,934 Property management revenue 9,041 158 — — 9,199 Escrow and title fees 717 271 — 3,604 4,592 Total revenue $ 113,515 $ 50,508 $ 89,040 $ 55,837 $ 308,900 Three Months Ended March 31, 2021 New York City Northeast Southeast West Total Revenues : Commission and other brokerage income - existing home sales $ 70,135 $ 56,250 $ 75,553 $ 41,078 $ 243,016 Commission and other brokerage income - development marketing 8,444 — 7,307 333 16,084 Property management revenue 9,095 173 — — 9,268 Escrow and title fees 466 417 — 3,525 4,408 Total revenue $ 88,140 $ 56,840 $ 82,860 $ 44,936 $ 272,776
Schedule of Contract Balances	The following table provides information about contract assets and contract liabilities from development marketing and commercial leasing contracts with customers: March 31, 2022 December 31, 2021 Receivables, which are included in accounts receivable - trade, net $ 2,730 $ 2,749 Contract assets, net, which are included in other current assets 9,179 2,187 Payables, which are included in other current liabilities 2,038 2,070 Contract liabilities, which are in current liabilities 16,774 6,689 Contract assets, net, which are in other assets 25,723 28,996 Contract liabilities, which are in other liabilities 34,950 39,557

Current Expected Credit Losses

Current Expected Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2022
Credit Loss [Abstract]
Schedule of Rollforward of Allowance for Credit Losses	The following is the rollforward of the allowance for credit losses for the three months ended March 31, 2022: January 1, Current Period Provision Write-offs Recoveries March 31, Allowance for credit losses: Real estate broker agent receivables $ 8,607 $ 558 (1) $ 332 $ — $ 8,833 _____________________________ (1) The bad debt expense related to the real estate broker agent receivables is included in General and administrative expenses on the condensed combined consolidated statements of operations. The following is the rollforward of the allowance for credit losses for the three months ended March 31, 2021: January 1, Current Period Provision Write-offs Recoveries March 31, Allowance for credit losses: Real estate broker agent receivables $ 7,038 $ 385 (1) $ 109 $ — $ 7,314 _____________________________ (1) The bad debt expense related to the real estate broker agent receivables is included in General and administrative expenses on the condensed combined consolidated statements of operations.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Lease Expense and Supplemental Cash Flow Information	The components of lease expense were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 8,169 $ 8,135 Short-term lease cost 257 200 Variable lease cost 985 956 Less: Sublease income (121) (88) Total lease cost $ 9,290 $ 9,203 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 9,196 $ 9,473 Right-of-use assets obtained in exchange for lease obligations: Operating leases 6,984 717
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: March 31, December 31, 2022 2021 Weighted average remaining lease term: Operating leases 7.42 7.65 Weighted average discount rate: Operating leases 8.89 % 9.12 %
Maturities of Operating Lease Liabilities	As of March 31, 2022, maturities of lease liabilities were as follows: Operating Leases Period Ending December 31: Remainder of 2022 $ 27,079 2023 33,222 2024 27,931 2025 23,399 2026 21,141 2027 18,898 Thereafter 61,901 Total lease payments 213,571 Less imputed interest (60,293) Total $ 153,278

Long-Term Investments (Tables)

Long-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Long-term Investment Securities	Long-term investments consisted of the following: March 31, 2022 December 31, 2021 PropTech convertible trading debt securities $ 3,077 $ 2,222 Long-term investment securities at fair value (1) 2,332 1,534 PropTech investments at cost 4,363 4,338 Total investments $ 9,772 $ 8,094 Less PropTech current convertible trading debt securities (2) 2,376 — Total long-term investments $ 7,396 $ 8,094 _____________________________ (1) These assets are measured at net asset value (“NAV”) as a practical expedient under ASC 820. (2) These amounts are included in Other current assets on the condensed combined consolidated balance sheets. Net gains recognized on long-term investment securities were as follows: Three Months Ended March 31, 2022 2021 Net gains recognized on PropTech convertible trading debt securities $ 154 $ — Net gains recognized on long-term investments at fair value 598 34 Net gains recognized on long-term investment securities $ 752 $ 34
Summary of Unrealized and Realized Net Gains	The following is a summary of unrealized and realized net gains recognized in net income on long-term investment securities at fair value during the three months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, 2022 2021 Net gains recognized on long-term investment securities $ 598 $ 34

Equity Method Investments (Tabl

Equity Method Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Equity-method investments consisted of the following: March 31, 2022 December 31, 2021 Ancillary services ventures $ 2,508 $ 2,521

Notes Payable and Other Oblig_2

Notes Payable and Other Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Notes Payable, Long-term Debt and Other Obligations	Notes payable and other obligations consisted of: March 31, 2022 December 31, 2021 Notes payable $ 9,375 $ 12,500 Other 199 203 Total notes payable and other obligations 9,574 12,703 Less: Current maturities (9,405) (12,527) Amount due after one year $ 169 $ 176
Schedule of Fair Value of Notes Payable and Long-term Debt	The estimated fair value of the Company’s notes payable and long-term debt were as follows: March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes payable $ 9,375 $ 9,375 $ 12,500 $ 12,500 Other 199 199 203 203 Notes payable and other obligations $ 9,574 $ 9,574 $ 12,703 $ 12,703

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	The Company’s income tax expense consisted of the following: Three Months Ended March 31, 2022 2021 Income before provision for income taxes $ 9,202 $ 14,246 Income tax expense using estimated annual effective income tax rate 2,917 4,097 Less Federal income tax expense attributable to pass-through entities — (3,816) Income tax expense $ 2,917 $ 281

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Company's Recurring Financial Assets and Liabilities Subject to Fair Value Measurements	The Company’s financial assets and liabilities subject to fair value measurements were as follows: Fair Value Measurements as of March 31, 2022 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 44,975 $ 44,975 $ — $ — Certificates of deposit (2) 569 — 569 — PropTech convertible trading debt securities 2,376 — — 2,376 Long-term investments PropTech convertible trading debt securities 701 — — 701 Long-term investment securities at fair value (3) 2,332 — — — Total long-term investments 3,033 — — 701 Total assets $ 50,953 $ 44,975 $ 569 $ 3,077 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed combined consolidated balance sheets, except for $7,861 that is included in current restricted cash and cash equivalents and $1,907 that is included in non-current restricted assets. (2) Amounts included in current restricted assets and non-current restricted assets on the condensed combined consolidated balance sheets. (3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy. Fair Value Measurements as of December 31, 2021 Description Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Assets: Money market funds (1) $ 51,492 $ 51,492 $ — $ — Certificates of deposit (2) 569 — 569 — Long-term investments PropTech convertible trading debt securities 2,222 — — 2,222 Long-term investment securities at fair value (3) 1,534 — — — Total long-term investments 3,756 — — 2,222 Total assets $ 55,817 $ 51,492 $ 569 $ 2,222 _____________________________ (1) Amounts included in Cash and cash equivalents on the condensed combined consolidated balance sheets, except for $15,336 that is included in current restricted assets and $1,907 that is included in non-current restricted assets. (2) Amounts included in current restricted assets and non-current restricted assets on the condensed combined consolidated balance sheets. (3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.
Schedule of Unobservable Inputs Related to the Valuations of the Level 3 Liabilities	The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at March 31, 2022: Quantitative Information about Level 3 Fair Value Measurements Fair Value at March 31, Valuation Technique Unobservable Input Range (Actual) PropTech convertible trading debt securities $ 3,077 Discounted cash flow Interest rate 4% and 8% Maturity Feb 2023 - Dec 2023 Volatility 40.7% - 73.6% Discount rate 28.22% - 46.66% The unobservable inputs related to the valuations of the Level 3 assets and liabilities were as follows at December 31, 2021: Quantitative Information about Level 3 Fair Value Measurements Fair Value at December 31, Valuation Technique Unobservable Input Range (Actual) PropTech convertible trading debt securities $ 2,222 Discounted cash flow Interest rate 5 % Maturity Feb 2023 -Mar 2023 Volatility 37.7% - 86.8% Discount rate 27.25% - 46.83%

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Financial Information for the Company's Operations Before Taxes	Financial information for the Company’s operations before taxes and non-controlling interests for the three months ended March 31, 2022 and 2021 were as follows: Real Estate Brokerage Corporate and Other Total Three months ended March 31, 2022 Revenues $ 308,900 $ — $ 308,900 Operating income (loss) 14,541 (6,662) 7,879 Adjusted EBITDA attributed to Douglas Elliman (a) 17,662 (4,935) 12,727 Depreciation and amortization 2,079 — 2,079 Capital expenditures 849 — 849 Three months ended March 31, 2021 Revenues $ 272,776 $ — $ 272,776 Operating income 14,228 — 14,228 Adjusted EBITDA attributed to Douglas Elliman (a) 16,351 — 16,351 Depreciation and amortization 2,123 — 2,123 Capital expenditures 597 — 597 (a) The following table reconciles operating income to Adjusted EBITDA attributed to Douglas Elliman for the three months ended March 31, 2022 and 2021. Three months ended March 31, 2022 2021 Real estate brokerage segment Operating income $ 14,541 $ 14,228 Depreciation and amortization 2,079 2,123 Stock-based compensation 925 — Adjusted EBITDA 17,545 16,351 Adjusted EBITDA attributed to non-controlling interest 117 — Adjusted EBITDA attributed to Douglas Elliman $ 17,662 $ 16,351 Corporate and other segment Operating loss $ (6,662) $ — Stock-based compensation 1,727 — Adjusted EBITDA attributed to Douglas Elliman $ (4,935) $ —

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Earnings Per Share (“EPS”)) (Details) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 29, 2021
Accounting Policies [Abstract]
Common stock, shares issued (in shares)	81,235,626	81,210,626	77,720,626
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Net Income for Purposes of Determining Basic and Diluted EPS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Net income attributed to Douglas Elliman Inc.	$ 6,510	$ 13,965
Income attributable to participating securities, basic	(275)	0
Income attributable to participating securities, diluted	(275)	0
Net income available to common stockholders attributed to Douglas Elliman Inc. - basic	6,235	13,965
Net income available to common stockholders attributed to Douglas Elliman Inc. - diluted	$ 6,235	$ 13,965

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Basic and Diluted Earnings Per Share (in shares)) (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Weighted-average shares for basic EPS (in shares)	77,666,210	77,720,626
Plus incremental shares related to stock options and non-vested restricted stock (in shares)	54,416	0
Weighted-average shares for diluted EPS (in shares)	77,720,626	77,720,626

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Reconciliation of Cash, Cash Equivalents, and Restricted Cash) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 203,669	$ 211,623
Restricted cash and cash equivalents included in current assets	7,861	15,336
Restricted cash and cash equivalents included in other assets	1,907	1,907
Total cash, cash equivalents, and restricted cash shown in the condensed combined consolidated statements of cash flows	$ 213,437	$ 228,866	$ 120,077	$ 106,702

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Related Party Real Estate Commissions) (Details) - Vector Group Ltd. - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Transition Services Agreement
Summary of Significant Accounting Policies [Line Items]
Related party transaction, amounts of transaction	$ 1,050
Aviation Agreements
Summary of Significant Accounting Policies [Line Items]
Related party transaction, amounts of transaction	491
Sole Broker Or Co-broker
Summary of Significant Accounting Policies [Line Items]
Real estate commissions	900	$ 2,357
Contingent liability
Summary of Significant Accounting Policies [Line Items]
Related party transaction, amounts of transaction	$ 965

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 308,900	$ 272,776
New York City
Disaggregation of Revenue [Line Items]
Total revenues	113,515	88,140
Northeast
Disaggregation of Revenue [Line Items]
Total revenues	50,508	56,840
Southeast
Disaggregation of Revenue [Line Items]
Total revenues	89,040	82,860
West
Disaggregation of Revenue [Line Items]
Total revenues	55,837	44,936
Commission and other brokerage income - existing home sales
Disaggregation of Revenue [Line Items]
Total revenues	275,175	243,016
Commission and other brokerage income - existing home sales | New York City
Disaggregation of Revenue [Line Items]
Total revenues	92,388	70,135
Commission and other brokerage income - existing home sales | Northeast
Disaggregation of Revenue [Line Items]
Total revenues	50,079	56,250
Commission and other brokerage income - existing home sales | Southeast
Disaggregation of Revenue [Line Items]
Total revenues	80,824	75,553
Commission and other brokerage income - existing home sales | West
Disaggregation of Revenue [Line Items]
Total revenues	51,884	41,078
Commission and other brokerage income - development marketing
Disaggregation of Revenue [Line Items]
Total revenues	19,934	16,084
Commission and other brokerage income - development marketing | New York City
Disaggregation of Revenue [Line Items]
Total revenues	11,369	8,444
Commission and other brokerage income - development marketing | Northeast
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Commission and other brokerage income - development marketing | Southeast
Disaggregation of Revenue [Line Items]
Total revenues	8,216	7,307
Commission and other brokerage income - development marketing | West
Disaggregation of Revenue [Line Items]
Total revenues	349	333
Property management revenue
Disaggregation of Revenue [Line Items]
Total revenues	9,199	9,268
Property management revenue | New York City
Disaggregation of Revenue [Line Items]
Total revenues	9,041	9,095
Property management revenue | Northeast
Disaggregation of Revenue [Line Items]
Total revenues	158	173
Property management revenue | Southeast
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Property management revenue | West
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Escrow and title fees
Disaggregation of Revenue [Line Items]
Total revenues	4,592	4,408
Escrow and title fees | New York City
Disaggregation of Revenue [Line Items]
Total revenues	717	466
Escrow and title fees | Northeast
Disaggregation of Revenue [Line Items]
Total revenues	271	417
Escrow and title fees | Southeast
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Escrow and title fees | West
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,604	$ 3,525

Revenue Recognition (Contract B

Revenue Recognition (Contract Balances) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	$ 16,774	$ 6,689
Contract assets, net, which are in other assets	25,723	28,996
Contract liabilities, which are in other liabilities	34,950	39,557
Accounts receivable - trade, net
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net, which are included in other current assets	2,730	2,749
Other current assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net, which are included in other current assets	9,179	2,187
Other current liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	2,038	2,070
Current liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities	16,774	6,689
Other assets
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract assets, net, which are in other assets	25,723	28,996
Other liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liabilities, which are in other liabilities	$ 34,950	$ 39,557

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized on contract liabilities	$ 8,069	$ 932

Current Expected Credit Losse_2

Current Expected Credit Losses (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Real estate broker agent receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Estimated credit losses	$ 8,833	$ 8,607	$ 7,314	$ 7,038

Current Expected Credit Losse_3

Current Expected Credit Losses (Rollforward) (Details) - Real estate broker agent receivables - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 8,607	$ 7,038
Current Period Provision	558	385
Write-offs	332	109
Recoveries	0	0
Ending balance	$ 8,833	$ 7,314

Leases (Lease Expense and Cash

Leases (Lease Expense and Cash Outflows from Operating Leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 8,169	$ 8,135
Short-term lease cost	257	200
Variable lease cost	985	956
Less: Sublease income	(121)	(88)
Total lease cost	9,290	9,203
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	9,196	9,473
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 6,984	$ 717

Leases (Supplemental Balance Sh

Leases (Supplemental Balance Sheet Information) (Details)	Mar. 31, 2022	Dec. 31, 2021
Weighted average remaining lease term:
Operating leases	7 years 5 months 1 day	7 years 7 months 24 days
Weighted average discount rate:
Operating leases	8.89%	9.12%

Leases (Maturities of Operating

Leases (Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating Leases
Remainder of 2022	$ 27,079
2023	33,222
2024	27,931
2025	23,399
2026	21,141
2027	18,898
Thereafter	61,901
Total lease payments	213,571
Less imputed interest	(60,293)
Total	$ 153,278

Leases (Narrative) (Details)

Leases (Narrative) (Details)	Mar. 31, 2022USD ($)
Leases [Abstract]
Lease not yet commenced	$ 0

Long-Term Investments (Componen

Long-Term Investments (Components of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
PropTech convertible trading debt securities	$ 3,077	$ 2,222
Long-term investment securities at fair value	2,332	1,534
PropTech investments at cost	4,363	4,338
Total investments	9,772	8,094
Less PropTech current convertible trading debt securities	2,376	0
Total long-term investments	$ 7,396	$ 8,094

Long-Term Investments (Summary

Long-Term Investments (Summary of Unrealized and Realized Net Gains) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net gains recognized on PropTech convertible trading debt securities	$ 154	$ 0
Net gains recognized on long-term investments at fair value	598	34
Net gains recognized on long-term investment securities	$ 752	$ 34

Long-Term Investments (Narrativ

Long-Term Investments (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)venture	Dec. 31, 2021USD ($)
Debt Securities, Available-for-sale [Line Items]
Unfunded commitments	$ 1,460
PropTech investments at cost	4,363	$ 4,338
PropTech | Affiliated Entity | New Valley Ventures | Convertible Debt Securities
Debt Securities, Available-for-sale [Line Items]
Invested amount	$ 701
Number of investees | venture	2

Long-Term Investments (Gross Re

Long-Term Investments (Gross Realized Gains and Losses on Investment Securities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net gains recognized on long-term investment securities	$ 598	$ 34

Equity Method Investments (Sche

Equity Method Investments (Schedule of Equity Method Investments) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Equity-method investments	$ 2,508	$ 2,521
Ancillary services ventures
Schedule of Equity Method Investments [Line Items]
Equity-method investments	$ 2,508	$ 2,521

Equity Method Investments (Narr

Equity Method Investments (Narrative) (Details) $ in Thousands	Mar. 31, 2022USD ($)
Schedule of Investments [Line Items]
Maximum exposure on guarantees	$ 2,508
Ancillary services ventures | Minimum
Schedule of Investments [Line Items]
Equity-method ownership percentage	17.00%
Ancillary services ventures | Maximum
Schedule of Investments [Line Items]
Equity-method ownership percentage	50.00%

Notes Payable and Other Oblig_3

Notes Payable and Other Obligations (Components of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total notes payable and other obligations	$ 9,574	$ 12,703
Less: Current maturities	(9,405)	(12,527)
Amount due after one year	169	176
Notes payable
Debt Instrument [Line Items]
Total notes payable and other obligations	9,375	12,500
Other
Debt Instrument [Line Items]
Total notes payable and other obligations	$ 199	$ 203

Notes Payable and Other Oblig_4

Notes Payable and Other Obligations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2018
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations	$ 9,574	$ 12,703
Douglas Elliman Texas
Debt Instrument [Line Items]
Voting interest acquired			29.41%
Notes payable
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations	9,375	$ 12,500
Notes Payable Issued by New Valley | Notes payable
Debt Instrument [Line Items]
Notes payable, long-term debt and other obligations	9,375
Repaid principal	20,625
Remaining principal due in 2022	$ 9,375

Notes Payable and Other Oblig_5

Notes Payable and Other Obligations (Fair Value of Notes Payable and Long Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	$ 9,574	$ 12,703
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	9,574	12,703
Notes payable | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	9,375	12,500
Notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	9,375	12,500
Other | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	199	203
Other | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable and other obligations	$ 199	$ 203

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 9,202	$ 14,246
Income tax expense using estimated annual effective income tax rate	2,917	4,097
Less Federal income tax expense attributable to pass-through entities	0	(3,816)
Income tax expense	$ 2,917	$ 281

Investments and Fair Value Me_3

Investments and Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
PropTech convertible trading debt securities	$ 3,077	$ 2,222
Long-term investments
Long-term investment securities at fair value	2,332	1,534
Total long-term investments	3,033	3,756
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Long-term investments
Current restricted assets	7,861	15,336
Non-current restricted assets	1,907	1,907
Recurring
Long-term investments
PropTech convertible trading debt securities	701	2,222
Long-term investment securities at fair value	2,332	1,534
Total long-term investments	3,033	3,756
Total assets	50,953	55,817
Recurring | Money market funds
Assets:
Cash and cash equivalents	44,975	51,492
Recurring | Certificates of deposit
Assets:
Cash and cash equivalents	569	569
PropTech convertible trading debt securities	2,376
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Long-term investments
PropTech convertible trading debt securities	0	0
Total long-term investments	0	0
Total assets	44,975	51,492
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Assets:
Cash and cash equivalents	44,975	51,492
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Certificates of deposit
Assets:
Cash and cash equivalents	0	0
PropTech convertible trading debt securities	0
Recurring | Significant Other Observable Inputs (Level 2)
Long-term investments
PropTech convertible trading debt securities	0	0
Total long-term investments	0	0
Total assets	569	569
Recurring | Significant Other Observable Inputs (Level 2) | Money market funds
Assets:
Cash and cash equivalents	0	0
Recurring | Significant Other Observable Inputs (Level 2) | Certificates of deposit
Assets:
Cash and cash equivalents	569	569
PropTech convertible trading debt securities	0
Recurring | Significant Unobservable Inputs (Level 3)
Long-term investments
PropTech convertible trading debt securities	701	2,222
Total long-term investments	701	2,222
Total assets	3,077	2,222
Recurring | Significant Unobservable Inputs (Level 3) | Money market funds
Assets:
Cash and cash equivalents	0	0
Recurring | Significant Unobservable Inputs (Level 3) | Certificates of deposit
Assets:
Cash and cash equivalents	0	$ 0
PropTech convertible trading debt securities	$ 2,376

Investments and Fair Value Me_4

Investments and Fair Value Measurements (Quantitative Information about Level 3 Fair Value Measurements) (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	$ 3,077	$ 2,222
Significant Unobservable Inputs (Level 3) | Recurring | Convertible Debt Securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
PropTech convertible trading debt securities	$ 3,077	$ 2,222
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input		0.2725
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input		0.4683
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input		0.05
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Interest rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.04
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Interest rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.08
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.407
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.736
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Discount rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.2822	0.377
Significant Unobservable Inputs (Level 3) | Recurring | Discounted cash flow | Convertible Debt Securities | Discount rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible trading debt securities input	0.4666	0.868

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 308,900	$ 272,776
Operating income (loss)	7,879	14,228
Adjusted EBITDA attributed to Douglas Elliman	12,727	16,351
Depreciation and amortization	2,079	2,123
Capital expenditures	849	597
Operating Segments | Real Estate Brokerage
Segment Reporting Information [Line Items]
Revenues	308,900	272,776
Operating income (loss)	14,541	14,228
Stock-based compensation	925	0
Adjusted EBITDA	17,545	16,351
Adjusted EBITDA attributed to non-controlling interest	117	0
Adjusted EBITDA attributed to Douglas Elliman	17,662	16,351
Depreciation and amortization	2,079	2,123
Capital expenditures	849	597
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	0	0
Operating income (loss)	(6,662)	0
Stock-based compensation	1,727	0
Adjusted EBITDA attributed to Douglas Elliman	(4,935)	0
Depreciation and amortization	0	0
Capital expenditures	$ 0	$ 0