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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Calculation of Basic Earnings Per Share

The following is the calculation of the Company’s basic EPS (in thousands, except per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

Net income (loss) available to common stockholders

 

$

58,774

 

 

$

36,825

 

Basic weighted-average shares of common stock

   outstanding

 

 

307,728

 

 

 

283,399

 

Basic earnings (loss) per share

 

$

0.19

 

 

$

0.13

 

 
Calculation of Fully Diluted Earnings Per Share

The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Fully diluted (loss) earnings per share

 

 

 

 

 

 

 

 

Net income (loss) available to common

   stockholders

 

$

58,774

 

 

$

36,825

 

Allocations of net income (loss) to limited

   partnership interests, net of tax

 

 

29,983

 

 

 

19,809

 

Net income (loss) for fully diluted shares

 

$

88,757

 

 

$

56,634

 

Weighted-average shares:

 

 

 

 

 

 

 

 

Common stock outstanding

 

 

307,728

 

 

 

283,399

 

Partnership units1

 

 

169,218

 

 

 

159,271

 

RSUs (Treasury stock method)

 

 

604

 

 

 

677

 

Other

 

 

1,385

 

 

 

1,479

 

Fully diluted weighted-average shares of

   common stock outstanding

 

 

478,935

 

 

 

444,826

 

Fully diluted earnings (loss) per share

 

$

0.19

 

 

$

0.13

 

 

1

Partnership units collectively include founding/working partner units, limited partnership units, and Cantor units (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for more information).