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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Basic earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) available to common stockholders | $ | (11,402) |  |  | $ | 8,850 |  |  | $ | 47,554 |  |  | $ | 49,091 |
Basic weighted-average shares of common stock outstanding | 387,121 |  |  | 363,244 |  |  | 382,161 |  |  | 360,629 |
Basic earnings (loss) per share | $ | (0.03) |  |  | $ | 0.02 |  |  | $ | 0.12 |  |  | $ | 0.14 |
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 September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Fully diluted earnings (loss) per share |  |  |  |  |  |  |
Net income (loss) available to common stockholders | $ | (11,402) |  |  | $ | 8,850 |  |  | $ | 47,554 |  |  | $ | 49,091 |
Allocations of net income (loss) to limited partnership interests, net of tax | — |  |  | — |  |  | 8,479 |  |  | 22,518 |
Net income (loss) for fully diluted shares | $ | (11,402) |  |  | $ | 8,850 |  |  | $ | 56,033 |  |  | $ | 71,609 |
Weighted-average shares: |  |  |  |  |  |  |
Common stock outstanding | 387,121 |  |  | 363,244 |  |  | 382,161 |  |  | 360,629 |
Partnership units¹ | — |  |  | — |  |  | 64,846 |  |  | 182,394 |
RSUs (Treasury stock method) | — |  |  | 219 |  |  | 3,723 |  |  | 221 |
Other | — |  |  | 1,139 |  |  | 1,353 |  |  | 1,231 |
Fully diluted weighted-average shares of common stock outstanding | 387,121 |  |  | 364,602 |  |  | 452,083 |  |  | 544,475 |
Fully diluted earnings (loss) per share | $ | (0.03) |  |  | $ | 0.02 |  |  | $ | 0.12 |  |  | $ | 0.13 |
__________________________ 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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