Earnings Per Share and Weighted-Average Shares Outstanding (Tables)

3 Months Ended

Mar. 31, 2018

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

	Three Months Ended March 31,
	2018		2017
Basic earnings per share:
Net income available to common stockholders	$	19,997	$	36,711
Basic weighted-average shares of common stock outstanding		155,694	N/A
Basic earnings per share		0.13	N/A

Calculation of Fully Diluted Earnings Per Share

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

	Three Months Ended March 31,
	2018		2017
Fully diluted earnings per share
Net income available to common stockholders	$	19,997	$	36,711
Allocations of net income to limited partnership interests in BGC Holdings and Newmark Holdings, net of tax		10,289	N/A
Net income for fully diluted shares	$	30,286	N/A
Weighted-average shares:
Common stock outstanding		155,694	N/A
Partnership units¹		90,222	N/A
Other		918	N/A
Fully diluted weighted-average shares of common stock outstanding		246,834	N/A
Fully diluted earnings per share		0.12	N/A

Partnership units collectively include founding/working partner units, limited partnership units, and Cantor units (see Note 2—Limited Partnership Interest in Newmark Holdings for more information).