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Stock Transactions and Unit Redemptions (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Changes in Shares of Class A Common Stock Outstanding
Changes in shares of BGC Class A common stock outstanding were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Shares outstanding at beginning of period340,875 326,563 325,858 317,023 
Share issuances:
Redemptions/exchanges of limited partnership interests¹17,082 5,071 30,226 11,714 
Vesting of RSUs534 589 2,630 2,571 
Acquisitions3,494 274 4,152 1,186 
Other issuances of BGC Class A common stock(3)339 11 342 
Restricted stock forfeitures(190)(4)(239)(4)
Treasury stock repurchases(9,814)(8,745)(10,660)(8,745)
Shares outstanding at end of period351,978 324,087 351,978 324,087 
____________________________
1Included in redemptions/exchanges of limited partnership interests for the three months ended June 30, 2023 and 2022 are 13.3 million shares of BGC Class A common stock granted in connection with the cancellation of 19.1 million LPUs, and 4.7 million shares of BGC Class A common stock granted in connection with the cancellation of 4.8 million LPUs, respectively. Included in redemptions/exchanges of limited partnership interests for the six months ended June 30, 2023 and 2022 are 20.2 million shares of BGC Class A common stock granted in connection with the cancellation of 26.4 million LPUs, and 7.9 million shares of BGC Class A common stock granted in connection with the cancellation of 8.1 million LPUs, respectively. 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 do 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 three and six months ended June 30, 2023 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 June 30, 2023
Redemptions1,2
January 1, 2023—March 31, 202323 $3.90 
April 1, 2023—June 30, 2023422 4.91 
Total Redemptions445 $4.85 
Repurchases3,4
January 1, 2023—March 31, 2023846 $4.97 
April 1, 2023—April 30, 20233,086 4.48 
May 1, 2023—May 31, 20233,300 4.36 
June 1, 2023—June 30, 20233,428 4.48 
Total Repurchases10,660 $4.48 
Total Redemptions and Repurchases11,105 $4.50 $326,449 
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1During the three months ended June 30, 2023 the Company redeemed 0.3 million LPUs at an aggregate redemption price of $1.4 million for a weighted-average price of $4.71 per unit. During the three months ended June 30, 2023, the Company redeemed 0.1 million FPUs at an aggregate redemption price of $0.7 million for a weighted-average price of $5.32 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 13.3 million shares of BGC Class A common stock during the three months ended June 30, 2023, nor the limited partnership interests exchanged for 7.1 million shares of BGC Class A common stock during the three months ended June 30, 2023.
2During the six months ended June 30, 2023 the Company redeemed 0.3 million LPUs at an aggregate redemption price of $1.4 million for a weighted-average price of $4.71 per unit. During the six months ended June 30, 2023, the Company redeemed 0.2 million FPUs at an aggregate redemption price of $0.8 million for a weighted-average price of $5.11 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 20.2 million shares of BGC Class A common stock during the six months ended June 30, 2023, nor the limited partnership interests exchanged for 13.4 million shares of BGC Class A common stock during the six months ended June 30, 2023.
3During the three months ended June 30, 2023, the Company repurchased 9.8 million shares of BGC Class A common stock at an aggregate price of $43.6 million for a weighted-average price of $4.44 per share.
4During the six months ended June 30, 2023, the Company repurchased 10.7 million shares of BGC Class A common stock at an aggregate price of $47.8 million for a weighted-average price of $4.48 per share.
The gross unit redemptions and share repurchases of BGC Class A common stock during the three and six months ended June 30, 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 June 30, 2022
Redemptions1,2
January 1, 2022—March 31, 202243 $4.01 
April 1, 2022—June 30, 20221,010 3.81 
Total Redemptions1,053 $3.82 
Repurchases3,4
January 1, 2022—March 31, 2022— $— 
April 1, 2022—April 30, 2022— — 
May 1, 2022—May 31, 20221,150 3.70 
June 1, 2022—June 30, 20227,595 3.31 
Total Repurchases8,745 $3.36 
Total Redemptions and Repurchases9,798 $3.41 $158,404 
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1During the three months ended June 30, 2022, the Company redeemed 1.0 million LPUs at an aggregate redemption price of $3.7 million for a weighted-average price of $3.84 per unit. During the three months ended June 30, 2022, the Company redeemed 40 thousand FPUs at an aggregate redemption price of $0.1 million for a weighted-average price of $2.94 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 4.7 million shares of BGC Class A common stock during the three months ended June 30, 2022, nor the limited partnership interests exchanged for 0.7 million shares of BGC Class A common stock during the three months ended June 30, 2022.
2During the six months ended June 30, 2022, the Company redeemed 1.0 million LPUs at an aggregate redemption price of $3.8 million for a weighted-average price of $3.85 per unit. During the six months ended June 30, 2022, the Company redeemed 0.1 million FPUs at an aggregate redemption price of $0.2 million for a weighted-average price of $3.33 per unit. The table above does not include units redeemed/cancelled in connection with the grant of 7.9 million shares of BGC Class A common stock during the six months ended June 30, 2022, nor the limited partnership interests exchanged for 4.5 million shares of BGC Class A common stock during the six months ended June 30, 2022.
3During the three months ended June 30, 2022, the Company repurchased 8.7 million shares of BGC Class A common stock at an aggregate price of $29.4 million for a weighted average price of $3.36 per share.
4During the six months ended June 30, 2022, the Company repurchased 8.7 million shares of BGC Class A common stock at an aggregate price of $29.4 million for a weighted average price of $3.36 per share.
Summary of Changes in Carrying Amount of FPUs
The changes in the carrying amount of FPUs were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Balance at beginning of period$15,423 $17,786 $15,519 $18,761 
Consolidated net income allocated to FPUs— 253 236 721 
Earnings distributions(236)(465)(236)(1,539)
FPUs exchanged(992)(380)(1,301)(719)
FPUs redeemed311 (748)288 (778)
Corporate conversion(14,506)— (14,506)— 
Balance at end of period$— $16,446 $— $16,446