For the three months ended June 30,

For the six months ended June 30,

EPS Calculations (in thousands, except per share amounts)

2022

2021

2022

2021

Calculation of basic EPS

Walker & Dunlop net income

$

54,286

$

56,058

$

125,495

$

114,110

Less: dividends and undistributed earnings allocated to participating securities

1,554

1,831

3,708

3,798

Net income applicable to common stockholders

$

52,732

$

54,227

$

121,787

$

110,312

Weighted-average basic shares outstanding

32,388

31,019

32,304

30,922

Basic EPS

$

1.63

$

1.75

$

3.77

$

3.57

Calculation of diluted EPS

Net income applicable to common stockholders

$

52,732

$

54,227

$

121,787

$

110,312

Add: reallocation of dividends and undistributed earnings based on assumed conversion

9

14

27

34

Net income allocated to common stockholders

$

52,741

$

54,241

$

121,814

$

110,346

Weighted-average basic shares outstanding

32,388

31,019

32,304

30,922

Add: weighted-average diluted non-participating securities

306

351

353

400

Weighted-average diluted shares outstanding

32,694

31,370

32,657

31,322

Diluted EPS

$

1.61

$

1.73

$

3.73

$

3.52