Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding adjusted for any dilutive Class A common stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method.

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The following table sets forth basic and diluted net income per common share attributable to common shareholders for the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share data):

	For the three months				For the nine months
	ended September 30,				ended September 30,
	2022		2021		2022		2021
Numerator:
Net income attributable to SBA
Communications Corporation	$	100,009	$	47,798	$	358,150	$	188,720
Denominator:
Basic weighted-average shares outstanding		107,916		109,577		107,950		109,487
Dilutive impact of stock options, RSUs, and PSUs		1,442		1,988		1,466		1,842
Diluted weighted-average shares outstanding		109,358		111,565		109,416		111,329
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	0.93	$	0.44	$	3.32	$	1.72
Diluted	$	0.91	$	0.43	$	3.27	$	1.70

For the three and nine months ended September 30, 2022 and 2021, the diluted weighted-average number of common shares outstanding excluded an immaterial number of shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.