Income Per Share and Stockholders' Equity

9 Months Ended

Sep. 30, 2022

Earnings Per Share And Stockholders Equity [Abstract]

Income Per Share and Stockholders' Equity

Income Per Share and Stockholders’ Equity

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Basic Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$	446,639	$	435,743	$	1,326,258	$	1,144,582
Weighted average shares outstanding for basic income per share	319,827,769		335,364,942		325,705,500		335,621,337
Basic income per share attributable to CBRE Group, Inc. stockholders	$	1.40	$	1.30	$	4.07	$	3.41
Diluted Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$	446,639	$	435,743	$	1,326,258	$	1,144,582
Weighted average shares outstanding for basic income per share	319,827,769		335,364,942		325,705,500		335,621,337
Dilutive effect of contingently issuable shares	4,914,815		4,972,217		4,852,814		4,183,955
Weighted average shares outstanding for diluted income per share	324,742,584		340,337,159		330,558,314		339,805,292
Diluted income per share attributable to CBRE Group, Inc. stockholders	$	1.38	$	1.28	$	4.01	$	3.37

For the three and nine months ended September 30, 2022, 1,506,140 and 1,369,162, 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, 2021, 30,903 and 31,666, 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 February 2019, our board of directors authorized a program for the repurchase of up to $500.0 million of our Class A common stock over three years (the 2019 program). During the first quarter of 2022, we repurchased 615,108 shares of our common stock under the 2019 program at an average price of $101.88 per share using cash on hand for $62.7 million, fully utilizing the remaining capacity under this program.

On November 19, 2021, our board of directors authorized a new program for the repurchase of up to $2.0 billion of our common stock over five years (the 2021 program). On August 18, 2022, our board of directors authorized an additional $2.0 billion, bringing the total authorized repurchase amount under this program to a total of $4.0 billion. During the three months ended September 30, 2022, we repurchased 5,094,577 shares of our common stock with an average price of $80.14 per share using cash on hand for $408.3 million. During the nine months ended September 30, 2022, we repurchased 16,167,978 shares of our common stock with an average price of $83.35 per share using cash on hand for $1.3 billion. As of September 30, 2022, we had approximately $2.6 billion of capacity remaining under the 2021 program.