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Earnings Per Share and Weighted-Average Shares Outstanding (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |
Net income available to common stockholders (1) |  | $ | 435,178 |  |  | $ | (2,131) |  |  | $ | 466,642 |  |  | $ | 3,604 |  |  |
Basic weighted-average shares of common stock outstanding |  | 185,114 |  |  | 178,523 |  |  | 184,190 |  |  | 178,034 |  |  |
Basic earnings per share |  | $ | 2.35 |  |  | $ | (0.01) |  |  | $ | 2.53 |  |  | $ | 0.02 |  |  |
(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, and $2.4 million and $4.9 million for the three and six months ended June 30, 2020, 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,
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |
Fully diluted earnings per share: |  |  |  |  |  |  |  |  |
Net income available to common stockholders |  | $ | 435,178 |  |  | $ | (2,131) |  |  | $ | 466,642 |  |  | $ | 3,604 |  |
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax |  | 148,567 |  |  | — |  |  | 159,830 |  |  | — |  |
Net income for fully diluted shares |  | $ | 583,745 |  |  | $ | (2,131) |  |  | $ | 626,472 |  |  | $ | 3,604 |  |
Weighted-average shares: |  |  |  |  |  |  |  |  |
Common stock outstanding |  | 185,114 |  |  | 178,523 |  |  | 184,190 |  |  | 178,034 |  |
Cantor units |  | 23,679 |  |  | — |  |  | 23,704 |  |  | — |  |
Partnership units (1) |  | 59,443 |  |  | — |  |  | 59,632 |  |  | — |  |
RSUs (Treasury stock method) |  | 4,149 |  |  | — |  |  | 3,582 |  |  | 442 |  |
Newmark exchange shares |  | 1,170 |  |  | — |  |  | 1,195 |  |  | 234 |  |
Fully diluted weighted-average shares of common stock outstanding |  | 273,555 |  |  | 178,523 |  |  | 272,303 |  |  | 178,710 |  |
Fully diluted earnings per share |  | $ | 2.13 |  |  | $ | (0.01) |  |  | $ | 2.30 |  |  | $ | 0.02 |  |
(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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