Income Per Share and Stockholders' Equity

6 Months Ended

Jun. 30, 2023

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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$	201,403	$	487,322	$	318,295	$	879,619
Weighted average shares outstanding for basic income per share	310,857,203		325,415,305		310,662,324		328,692,585
Basic income per share attributable to CBRE Group, Inc. stockholders	$	0.65	$	1.50	$	1.02	$	2.68

Diluted Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$	201,403	$	487,322	$	318,295	$	879,619
Weighted average shares outstanding for basic income per share	310,857,203		325,415,305		310,662,324		328,692,585
Dilutive effect of contingently issuable shares	3,425,044		4,428,405		4,159,291		4,821,813
Weighted average shares outstanding for diluted income per share	314,282,247		329,843,710		314,821,615		333,514,398
Diluted income per share attributable to CBRE Group, Inc. stockholders	$	0.64	$	1.48	$	1.01	$	2.64

For the three and six months ended June 30, 2023, 1,433,176 and 988,371, 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 six months ended June 30, 2022, 1,715,891 and 1,383,041, 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 November 19, 2021, our board of directors authorized a program for the repurchase of up to $2.0 billion of our Class A 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 March 31, 2023, we repurchased 1,368,173 shares of our common stock with an average price of $83.48 per share using cash on hand for $114.2 million under the 2021 program. We did not repurchase any of our common stock during the three months ended June 30, 2023 under the 2021 program. As of June 30, 2023, we had approximately $2.0 billion of capacity remaining under the 2021 program. During the three months ended June 30, 2022, we repurchased 7,510,123 shares of our common stock using cash on hand for $611.2 million. During the six months ended June 30, 2022, we repurchased 11,688,509 shares of our common stock using cash on hand for $1.0 billion.