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

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic Earnings Per Share

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Basic earnings per share:
Net income available to common stockholders (1)	$	48,519	$	435,178	$	48,881	$	466,642
Basic weighted-average shares of common stock outstanding	183,948		185,114		186,401		184,190
Basic earnings per share	$	0.26	$	2.35	$	0.26	$	2.53

(1)Includes a reduction for dividends on preferred stock or EPUs in the amount of $4.6 million and $6.2 million for the three and six months ended June 30, 2021, respectively.(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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Fully diluted earnings per share:
Net income available to common stockholders	$	48,519	$	435,178	$	48,881	$	466,642
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	14,860		148,567		14,567		159,830
Net income for fully diluted shares	$	63,379	$	583,745	$	63,448	$	626,472
Weighted-average shares:
Common stock outstanding	183,948		185,114		186,401		184,190
Partnership units (1)	58,917		83,122		57,576		83,336
RSUs (Treasury stock method)	3,067		4,149		4,475		3,582
Newmark exchange shares	2,053		1,170		2,006		1,195
Fully diluted weighted-average shares of common stock outstanding	247,985		273,555		250,458		272,303
Fully diluted earnings per share	$	0.26	$	2.13	$	0.25	$	2.30

(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).