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Earnings Per Share (Tables) | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Schedule of Basic Earnings Per Share from Continuing and Discontinued Operations | The following is the calculation of the Company’s basic EPS (in thousands, except per share data):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Basic earnings (loss) per share: |  |  |  |  |
Net income (loss) available to common stockholders | $ | 126,988 |  |  | $ | 36,265 |  |  | $ | 48,712 |
Less: Dividends declared and allocation of undistributed earnings to participating securities | (5,773) |  |  | (2,195) |  |  | — |
Net income (loss) attributable to common stockholders | 121,215 |  |  | 34,070 |  |  | 48,712 |
Basic weighted-average shares of common stock outstanding | 473,390 |  |  | 426,436 |  |  | 371,561 |
Basic earnings (loss) per share | $ | 0.26 |  |  | $ | 0.08 |  |  | $ | 0.13 |
Schedule of Fully Diluted Earnings Per Share from Continuing and Discontinued Operations | The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Fully diluted earnings (loss) per share: |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | 121,215 |  |  | $ | 34,070 |  |  | $ | 48,712 |
Add back: Allocations of net income (loss) to limited partnership interests, net of tax | — |  |  | (156) |  |  | 14,767 |
Add back: Allocations of undistributed earnings to participating securities | 4,620 |  |  | 1,731 |  |  | — |
Less: Reallocation of undistributed earnings to participating securities | (4,567) |  |  | (1,702) |  |  | — |
Net income (loss) for fully diluted shares | $ | 121,268 |  |  | $ | 33,943 |  |  | $ | 63,479 |
Weighted-average shares: |  |  |  |  |
Common stock outstanding | 473,390 |  | 426,436 |  |  | 371,561 |
Partnership units¹ | — |  |  | 57,239 |  |  | 124,738 |
Non-participating RSUs | — |  |  | 1,406 |  |  | 1,913 |
Other 2 | 5,752 |  |  | 4,908 |  |  | 1,202 |
Fully diluted weighted-average shares of common stock outstanding | 479,142 |  |  | 489,989 |  |  | 499,414 |
Fully diluted earnings (loss) per share | $ | 0.25 |  |  | $ | 0.07 |  |  | $ | 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). 2 Primarily consists of contracts to issue shares of BGC common stock.

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