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

3 Months Ended

Mar. 31, 2022

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


	Three Months Ended March 31,
		2022		2021
Basic earnings per share:
Net income available to common stockholders (1)		$	362	$	31,464
Basic weighted-average shares of common stock outstanding		188,881		183,254
Basic earnings per share		$	0.00	$	0.17

(1)Includes a reduction for dividends on preferred stock or EPUs in the amount of $1.6 million for the three months ended March 31, 2021 (see Note 1 — “Organization and Basis of Presentation”).

Schedule 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,
		2022		2021
Fully diluted earnings per share:
Net income available to common stockholders		$	362	$	31,464
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax		76		12,461
Net income for fully diluted shares		$	438	$	43,925
Weighted-average shares:
Common stock outstanding		188,881		183,254


Partnership units (1)		56,220		83,556
RSUs (Treasury stock method)		5,757		3,165
Newmark exchange shares		1,957		1,219
Fully diluted weighted-average shares of common stock outstanding		252,815		271,194
Fully diluted earnings per share		$	0.00	$	0.16

(1)Partnership units collectively include FPUs, limited partnership units, and Cantor and BGC units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information).