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

12 Months Ended

Dec. 31, 2023

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): 

	Year Ended December 31,
	2023		2022		2021
Basic earnings per share:
Net income available to common stockholders (1)	$	42,575	$	83,275	$	744,528
Basic weighted-average shares of common stock outstanding	173,475		180,337		190,179
Basic earnings per share	$	0.25	$	0.46	$	3.91

(1)Includes a reduction for dividends on EPUs in the amount of $6.2 million for the year ended December 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):

	Year Ended December 31,
	2023		2022		2021
Fully diluted earnings per share:
Net income available to common stockholders	$	42,575	$	83,275	$	744,528
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	—		27,128		—
Net income for fully diluted shares	$	42,575	$	110,403	$	744,528
Weighted-average shares:
Common stock outstanding	173,475		180,337		190,179
Partnership units (1)	—		59,944		—
RSUs (Treasury stock method)	2,413		3,255		4,310
Newmark exchange shares	494		1,641		1,324
Fully diluted weighted-average shares of common stock outstanding	176,382		245,177		195,813
Fully diluted earnings per share	$	0.24	$	0.45	$	3.80

(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).