Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

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


	Three Months Ended March 31,
	2023		2022
Basic earnings (loss) per share:
Net income (loss) available to common stockholders	$	18,978	$	25,972
Basic weighted-average shares of common stock outstanding	375,220		368,323
Basic earnings (loss) per share	$	0.05	$	0.07

Calculation of Fully Diluted Earnings Per Share

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


	Three Months Ended March 31,
	2023		2022
Fully diluted earnings (loss) per share
Net income (loss) available to common stockholders	$	18,978	$	25,972
Allocations of net income (loss) to limited partnership interests, net of tax	5,177		7,666
Net income (loss) for fully diluted shares	$	24,155	$	33,638
Weighted-average shares:
Common stock outstanding	375,220		368,323
Partnership units¹	120,451		129,680
RSUs (Treasury stock method)	4,008		3,681
Other	1,388		1,193
Fully diluted weighted-average shares of common stock outstanding	501,067		502,877
Fully diluted earnings (loss) per share	$	0.05	$	0.07

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