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Earnings Per Share (Tables) | 3 Months Ended
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Mar. 31, 2024
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, |  |
| 2024 |  | 2023 |  |  |  |
Basic earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) available to common stockholders | $ | 49,210 |  |  | $ | 18,978 |  |  |  |  |
Less: Dividends declared and allocation of undistributed earnings to participating securities | (2,832) |  |  | — |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | 46,378 |  |  | $ | 18,978 |  |  |  |  |
Basic weighted-average shares of common stock outstanding | 470,517 |  |  | 375,220 |  |  |  |  |
Basic earnings (loss) per share | $ | 0.10 |  |  | $ | 0.05 |  |  |  |  |
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, |  |
| 2024 |  | 2023 |  |  |  |
Fully diluted earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | 46,378 |  |  | $ | 18,978 |  |  |  |  |
Add back: Allocations of net income (loss) to limited partnership interests, net of tax | — |  |  | 5,177 |  |  |  |  |
Add back: Allocations of undistributed earnings to participating securities | 2,627 |  |  | — |  |  |  |  |
Less: Reallocation of undistributed earnings to participating securities | (2,588) |  |  | — |  |  |  |  |
Net income (loss) for fully diluted shares | $ | 46,417 |  |  | $ | 24,155 |  |  |  |  |
Weighted-average shares: |  |  |  |  |  |  |
Common stock outstanding | 470,517 |  |  | 375,220 |  |  |  |  |
Partnership units¹ | — |  |  | 120,451 |  |  |  |  |
Non-participating RSUs | — |  |  | 4,008 |  |  |  |  |
Other 2 | 7,456 |  |  | 1,388 |  |  |  |  |
Fully diluted weighted-average shares of common stock outstanding | 477,973 |  |  | 501,067 |  |  |  |  |
Fully diluted earnings (loss) per share | $ | 0.10 |  |  | $ | 0.05 |  |  |  |  |
____________________________ 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). 2 Primarily consists of other contracts to issue shares of BGC common stock.

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- Definition Tabular disclosure of the effect of income (loss) on basic earnings per share. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52 + Details
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