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

6 Months Ended

Jun. 30, 2023

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,
	2023		2022		2023		2022
Basic earnings per share:
Net income available to common stockholders	$	6,429	$	48,519	$	(3,921)	$	48,881
Basic weighted-average shares of common stock outstanding	173,939		183,948		173,254		186,401
Basic earnings per share	$	0.04	$	0.26	$	(0.02)	$	0.26

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,
	2023		2022			2023		2022
Fully diluted earnings per share:
Net income available to common stockholders	$	6,429	$	48,519		$	(3,921)	$	48,881
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	2,421		14,860			—		14,567
Net income for fully diluted shares	$	8,850	$	63,379		$	(3,921)	$	63,448
Weighted-average shares:
Common stock outstanding	173,939		183,948			173,254		186,401


Partnership units (1)	69,633		58,917			—		57,576
RSUs (Treasury stock method)	879		3,067			—		4,475
Newmark exchange shares	503		2,053			—		2,006
Fully diluted weighted-average shares of common stock outstanding	244,954		247,985			173,254		250,458
Fully diluted earnings per share	$	0.04	$	0.26		$	(0.02)	$	0.25

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