Income Per Share and Stockholders' Equity

3 Months Ended

Mar. 31, 2019

Income Per Share and Stockholders' Equity

12.	Income Per Share and Stockholders’ Equity

The calculations of basic and diluted income per share attributable to CBRE Group, Inc. shareholders are as follows (dollars in thousands, except share data):

	Three Months Ended March 31,
		2019		2018
Basic Income Per Share
Net income attributable to CBRE Group, Inc. shareholders	$	164,409	$	150,288
Weighted average shares outstanding for basic income per share		336,020,431		338,890,098
Basic income per share attributable to CBRE Group, Inc. shareholders	$	0.49	$	0.44
Diluted Income Per Share
Net income attributable to CBRE Group, Inc. shareholders	$	164,409	$	150,288
Weighted average shares outstanding for basic income per share:		336,020,431		338,890,098
Dilutive effect of contingently issuable shares		4,137,968		3,698,143
Dilutive effect of stock options		—		1,569
Weighted average shares outstanding for diluted income per share		340,158,399		342,589,810
Diluted income per share attributable to CBRE Group, Inc. shareholders	$	0.48	$	0.44

For the three months ended March 31, 2019 and 2018, 547,676 and 69,346, respectively, of contingently issuable shares were excluded from the computation of diluted income per share because their inclusion would have had an anti-dilutive effect.

On October 27, 2016, our board of directors authorized the company to repurchase up to an aggregate of $250.0 million of our Class A common stock over three years. Through December 31, 2018, we had spent $161.0 million to repurchase 3,980,656 shares of our Class A common stock with an average price paid per share of $40.43. During the month of January 2019, we spent $45.1 million to repurchase an additional 1,144,449 shares of our Class A common stock with an average price paid per share of $39.38. Additionally, on February 28, 2019, our board of directors authorized a new program for the company to repurchase up to $300.0 million of our Class A common stock over three years, effective March 11, 2019. The previous program terminated upon the effectiveness of the new program.