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

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Basic earnings per share:
Net income available to common stockholders (1)	$	27,964	$	128,549	$	76,848	$	595,198
Basic weighted-average shares of common stock outstanding	177,231		199,413		183,311		189,317
Basic earnings per share	$	0.16	$	0.64	$	0.42	$	3.14

(1)Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Fully diluted earnings per share:
Net income available to common stockholders	$	27,964	$	128,549	$	76,848	$	595,198
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	9,710		—		23,635		—
Net income for fully diluted shares	$	37,674	$	128,549	$	100,483	$	595,198
Weighted-average shares:
Common stock outstanding	177,231		199,413		183,311		189,317
Partnership units (1)	61,501				58,899		—
RSUs (Treasury stock method)	2,604		4,696		3,809		3,816
Newmark exchange shares	2,133		1,172		2,048		1,187
Fully diluted weighted-average shares of common stock outstanding	243,469		205,281		248,067		194,320
Fully diluted earnings per share	$	0.15	$	0.63	$	0.41	$	3.06

(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).