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Income Per Share and Stockholders' Equity | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share And Stockholders Equity [Abstract] |
Income Per Share and Stockholders' Equity |
1 2. | 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  |  | 2020 |  |  |  | 2019 |  |  |  | 2020 |  |  |  | 2019 |
Basic Income Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to CBRE Group, Inc. shareholders |  | $ | 184,132 |  |  | $ | 256,599 |  |  | $ | 438,224 |  |  | $ | 644,739 |
Weighted average shares outstanding for basic income per share |  |  | 335,287,245 |  |  |  | 336,203,747 |  |  |  | 335,128,531 |  |  |  | 336,149,719 |
Basic income per share attributable to CBRE Group, Inc. shareholders |  | $ | 0.55 |  |  | $ | 0.76 |  |  | $ | 1.31 |  |  | $ | 1.92 |
Diluted Income Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to CBRE Group, Inc. shareholders |  | $ | 184,132 |  |  | $ | 256,599 |  |  | $ | 438,224 |  |  | $ | 644,739 |
Weighted average shares outstanding for basic income per share: |  |  | 335,287,245 |  |  |  | 336,203,747 |  |  |  | 335,128,531 |  |  |  | 336,149,719 |
Dilutive effect of contingently issuable shares |  |  | 2,378,603 |  |  |  | 4,896,435 |  |  |  | 3,127,328 |  |  |  | 4,440,288 |
Weighted average shares outstanding for diluted income per share |  |  | 337,665,848 |  |  |  | 341,100,182 |  |  |  | 338,255,859 |  |  |  | 340,590,007 |
Diluted income per share attributable to CBRE Group, Inc. shareholders |  | $ | 0.55 |  |  | $ | 0.75 |  |  | $ | 1.30 |  |  | $ | 1.89 |
For the three and nine months ended September 30, 2020, 1,294,385 and 1,191,464, 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. For the three and nine months ended September 30, 2019, 320,154 and 447,687, 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. In October 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. During January 2019, through an existing stock repurchase plan entered into pursuant to Rule 10b5-1 under the Exchange Act (10b5-1 plan), we spent $45.1 million to repurchase 1,144,449 shares of our Class A common stock with an average price paid per share of $39.38. In February 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 stock repurchase program. In each of August and November 2019, our board of directors authorized an additional $100.0 million under our new program, bringing the total authorized amount under the new program to $500.0 million. During the year ended December 31, 2019, under the March 2019 program, and through repurchases under a 10b5-1 plan, we spent $100.0 million to repurchase an additional 1,936,458 shares of our Class A common stock with an average price paid per share of $51.64. During the month of March 2020, through repurchases under a 10b5-1 plan, we spent $50.0 million to repurchase an additional 1,050,084 shares of our Class A common stock with an average price paid per share of $47.62. We did not repurchase any of our stock during the three month periods ended June 30, 2020 and September 30, 2020. As of September 30, 2020, we had $350.0 million of capacity remaining under our current stock repurchase program.

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