Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

The Company’s net income and weighted average shares outstanding for the years ended December 31, 2011 and 2010, consists of the following (dollars in thousands):

	Year Ended December 31, 2011		Year Ended December 31, 2010
Net income	$	42,050	$	16,989
Net income attributable to controlling interest	$	40,019	$	10,891
Weighted Average Shares Outstanding:
Basic		35,867,610		26,900,261
Diluted		36,125,173		27,085,646

The calculations of basic and diluted net income per share amounts for the years ended December 31, 2011 and 2010 are described and presented below.

Basic Net Income per Share

Numerator — net income attributable to the controlling interest for the three and twelve months ended December 31, 2011 and 2010, respectively.

Denominator — the weighted average shares of Class A common stock for the three and twelve months ended December 31, 2011 and 2010, including 90,833 and 78,803 restricted stock units that have vested and whose issuance is no longer contingent as of December 31, 2011 and 2010, respectively.

Diluted Net Income per Share

Numerator — net income attributable to controlling interest for the three and twelve month periods ended December 31, 2011 and 2010 as in the basic net income per share calculation described above plus income allocated to noncontrolling interest holder upon assumed exercise of exchange rights.

Denominator — the weighted average shares of Class A common stock for the three and twelve months ended December 31, 2011 and 2010, including 90,833 and 78,803 restricted stock units that have vested and whose issuance is no longer contingent as of December 31 2011 and 2010, respectively, plus the dilutive effect of the unrestricted stock units, stock options, and the issuance of Class A common stock upon the exercise of the Exchange Right by HFF Holdings.

	Three Months Ended December 31, 2011		Year Ended December 31, 2011		Three Months Ended December 31, 2010		Year Ended December 31, 2010
Basic Earnings Per Share of Class A Common Stock
Numerator:
Net income attributable to Class A common stockholders	$	12,662	$	40,019	$	4,280	$	10,891
Denominator:
Weighted average number of shares of Class A common stock outstanding		36,066,224		35,867,610		34,893,110		26,900,261
Basic net income per share of Class A common stock	$	0.35	$	1.12	$	0.12	$	0.40
Diluted Earnings Per Share of Class A Common Stock
Numerator:
Net income attributable to Class A common stockholders	$	12,662	$	40,019	$	4,280	$	10,891
Add — dilutive effect of:
Income allocated to noncontrolling interest holder upon assumed exercise of exchange right		—		—		—		—
Denominator:
Basic weighted average number of shares of Class A common stock		36,066,224		35,867,610		34,893,110		26,900,261
Add — dilutive effect of:
Unvested restricted stock units		251,884		239,592		183,166		178,848
Stock options		15,979		17,970		10,541		6,538
Noncontrolling interest holder exchange right		—		—		—		—
Weighted average common shares outstanding — diluted		36,334,087		36,125,173		35,086,817		27,085,646
Diluted earnings per share of Class A common stock	$	0.35	$	1.11	$	0.12	$	0.40