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Stock Transactions and Unit Redemptions (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Changes in Shares of Class A Common Stock Outstanding
Changes in shares of BGC Class A common stock outstanding for the years ended December 31, 2022 and 2021 were as follows (in thousands):
 Year Ended December 31,
 20222021
Shares outstanding at beginning of period317,023 323,018 
Share issuances:
Redemptions/exchanges of limited partnership interests¹
30,998 58,025 
Vesting of RSUs3,284 2,167 
Acquisitions1,206 1,789 
Other issuances of BGC Class A common stock501 417 
Treasury stock repurchases(27,087)(68,253)
Forfeitures of restricted BGC Class A common stock(67)(140)
Shares outstanding at end of period325,858 317,023 
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1.    Included in redemptions/exchanges of limited partnership interests for the year ended December 31, 2022 are 20.9 million shares of BGC Class A common stock granted in connection with the cancellation of 21.4 million LPUs. Included in redemption/exchanges of limited partnership interests for the year ended December 31, 2021, are 27.5 million shares of BGC Class A common stock granted in connection with the cancellation of 29.7 million LPUs. Because LPUs are included in the Company’s fully diluted share count, if dilutive, redemptions/exchanges in connection with the issuance of BGC Class A common stock would not impact the fully diluted number of shares outstanding.
Gross Unit Redemptions and Share Repurchases of Class A Common Stock The tables below represent the units redeemed and/or shares repurchased for cash and does not include units redeemed/cancelled in connection with the grant of shares of BGC Class A common stock nor the limited partnership interests exchanged for shares of BGC Class A common stock. The gross unit redemptions and share repurchases of BGC Class A common stock during the year ended December 31, 2022 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Units
Redeemed
or Shares
Repurchased
Weighted-
Average Price
Paid per Unit
or Share
Approximate
Dollar Value
of Units and
Shares That Could  Be Redeemed/
Purchased
Under the Program at December 31, 2022
Redemptions1
   
January 1, 2022—March 31, 202243 $4.01 
April 1, 2022—June 30, 20221,010 3.81 
July 1, 2022—September 30, 2022214 3.91 
October 1, 2022—December 31, 202299 3.88 
Total Redemptions1,366 $3.84 
Repurchases2
January 1, 2022—March 31, 2022— $— 
April 1, 2022—June 30, 20228,745 3.36 
July 1, 2022—September 30, 202212,3974.03 
October 1, 2022—October 31, 20223073.93 
November 1, 2022—November 30, 20223,8343.99 
December 1, 2022—December 31, 20221,804 4.48 
Total Repurchases27,087 3.84 
Total Redemptions and Repurchases28,453 $3.84 $376,413 
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1.    During the year ended December 31, 2022, the Company redeemed 1.3 million LPUs at an aggregate redemption price of $4.9 million for a weighted-average price of $3.87 per unit and 0.1 million FPUs at an aggregate redemption price of $0.4 million for a weighted-average price of $3.41 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.9 million shares of BGC Class A common stock during the year ended December 31, 2022, nor the limited partnership interests exchanged for 10.8 million shares of BGC Class A common stock during the year ended December 31, 2022.
2.    During the year ended December 31, 2022, the Company repurchased 27.1 million shares of BGC Class A common stock at an aggregate price of $103.9 million for a weighted-average price of $3.84 per share.
The gross unit redemptions and share repurchases of BGC Class A common stock during the year ended December 31, 2021 were as follows (in thousands, except for weighted-average price data):
PeriodTotal Number
of Units
Redeemed
or Shares
Repurchased
Weighted-
Average Price
Paid per Unit
or Share
Approximate
Dollar Value
of Units and
Shares That Could Be Redeemed/
Purchased
Under the Program at December 31, 2021
Redemptions1
   
January 1, 2021—March 31, 202120 $4.40 
April 1, 2021—June 30, 20214,715 5.82 
July 1, 2021—September 30, 202173 5.14 
October 1, 2021—December 31, 202138 5.37 
Total Redemptions4,846 $5.80 
Repurchases2
January 1, 2021—March 31, 2021965 $4.56 
April 1, 2021—June 30, 202116,542 6.25 
July 1, 2021—September 30, 202124,433 5.19 
October 1, 2021—December 31, 202126,313 4.97 
Total Repurchases68,253 5.35 
Total Redemptions and Repurchases73,099 $5.38 $191,809 
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1.    During the year ended December 31, 2021, the Company redeemed 4.7 million LPUs at an aggregate redemption price of $27.5 million for a weighted-average price of $5.83 per unit and 0.1 million FPUs at an aggregate redemption price of $0.6 million for a weighted-average price of $4.86 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 27.5 million shares of BGC Class A common stock during the year ended December 31, 2021, nor the limited partnership interests exchanged for 32.2 million shares of BGC Class A common stock during the year ended December 31, 2021.2.    During the year ended December 31, 2021, the Company repurchased 68.3 million shares of BGC Class A common stock at an aggregate price of $365.4 million for a weighted-average price of $5.35 per share.
Summary of Changes in Carrying Amount of FPUs
The changes in the carrying amount of FPUs for the years ended December 31, 2022 and 2021 were as follows (in thousands):
 Year Ended December 31,
 20222021
Balance at beginning of period$18,761 $20,674 
Consolidated net income allocated to FPUs968 2,031 
Earnings distributions(2,041)(957)
FPUs exchanged(1,339)(1,129)
FPUs redeemed(830)(1,858)
Balance at end of period$15,519 $18,761