Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic earnings (loss) per share:
Net income (loss) available to common stockholders	$	(19,704)	$	14,762	$	(726)	$	40,734
Basic weighted-average shares of common stock outstanding	391,745		375,613		383,528		371,988
Basic earnings (loss) per share	$	(0.05)	$	0.04	$	—	$	0.11

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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Fully diluted earnings (loss) per share
Net income (loss) available to common stockholders	$	(19,704)	$	14,762	$	(726)	$	40,734
Allocations of net income (loss) to limited partnership interests, net of tax	—		4,948		—		12,614
Net income (loss) for fully diluted shares	$	(19,704)	$	19,710	$	(726)	$	53,348
Weighted-average shares:
Common stock outstanding	391,745		375,613		383,528		371,988
Partnership units¹	—		129,163		—		129,420
RSUs (Treasury stock method)	—		1,188		—		2,084
Other	—		1,041		—		1,117
Fully diluted weighted-average shares of common stock outstanding	391,745		507,005		383,528		504,609
Fully diluted earnings (loss) per share	$	(0.05)	$	0.04	$	—	$	0.11

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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).