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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

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,
	2021				2020
Basic earnings (loss) per share:
Net income (loss) available to common stockholders	$	43,091			$	13,674
Basic weighted-average shares of common stock outstanding		374,318				358,001
Basic earnings (loss) per share	$	0.12			$	0.04

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,
	2021				2020
Fully diluted earnings (loss) per share
Net income (loss) available to common stockholders	$	43,091			$	13,674
Allocations of net income (loss) to limited partnership interests, net of tax		19,157				5,651
Net income (loss) for fully diluted shares	$	62,248			$	19,325
Weighted-average shares:
Common stock outstanding		374,318				358,001
Partnership units1		178,116				178,393
RSUs (Treasury stock method)		3,413				708
Other		1,221				1,340
Fully diluted weighted-average shares of common stock outstanding		557,068				538,442
Fully diluted earnings (loss) per share	$	0.11			$	0.04

¹ Partnership units collectively include FPUs, LPUs, and Cantor units (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for more information).

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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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