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

3 Months Ended

Mar. 31, 2021

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 March 31,
			2021						2020
Basic earnings per share:
Net income available to common stockholders (1)			$	31,464					$	5,737
Basic weighted-average shares of common stock outstanding			183,254						177,545
Basic earnings per share			$	0.17					$	0.03

(1)Includes a reduction for dividends on preferred stock or EPUs in the amount of $1.6 million and $2.4 million for the three months ended March 31, 2021 and 2020, respectively.

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,
			2021						2020
Fully diluted earnings per share:
Net income available to common stockholders			$	31,464					$	5,737
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax			12,461						3,196
Net income for fully diluted shares			$	43,925					$	8,933
Weighted-average shares:
Common stock outstanding			183,254						177,545
Partnership units (1)			83,556						84,491
RSUs (Treasury stock method)			3,165						1,370
Newmark exchange shares			1,219						240
Fully diluted weighted-average shares of common stock outstanding			271,194						263,646
Fully diluted earnings per share			$	0.16					$	0.03

(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).

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