Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Calculation of Basic Earnings Per Share from Continuing and Discontinued Operations

The following is the calculation of the Company’s basic EPS (in thousands, except per share data):

	Year Ended December 31,
	2022		2021		2020
Basic earnings (loss) per share:
Net income (loss) available to common stockholders	$	48,712	$	124,007	$	45,062
Basic weighted-average shares of common stock outstanding	371,561		379,215		361,736
Basic earnings (loss) per share	$	0.13	$	0.33	$	0.12

Calculation of Fully Diluted Earnings Per Share from Continuing and Discontinued Operations

The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data): 

	Year Ended December 31,
	2022		2021		2020
Fully diluted earnings (loss) per share:
Net income (loss) available to common stockholders	$	48,712	$	124,007	$	45,062
Allocations of net income (loss) to limited partnership interests, net of tax	14,767		49,988		19,725
Net income (loss) for fully diluted shares	$	63,479	$	173,995	$	64,787
Weighted-average shares:
Common stock outstanding	371,561		379,215		361,736
Partnership units¹	124,738		155,356		183,130
RSUs (Treasury stock method)	1,913		4,074		737
Other	1,202		1,375		1,245
Fully diluted weighted-average shares of common stock outstanding	499,414		540,020		546,848
Fully diluted earnings (loss) per share	$	0.13	$	0.32	$	0.12

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1    Partnership units collectively include FPUs, LPUs, and Cantor units (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for more information).