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Earnings Per Share (Tables) | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule 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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Basic earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) available to common stockholders | $ | 27,882 |  |  | $ | 14,747 |  |  | $ | 140,591 |  |  | $ | 101,785 |
Less: Dividends declared and allocation of undistributed earnings to participating securities | (1,114) |  |  | (555) |  |  | (5,892) |  |  | (4,919) |
Net income (loss) attributable to common stockholders | $ | 26,768 |  |  | $ | 14,192 |  |  | $ | 134,699 |  |  | $ | 96,866 |
Basic weighted-average shares of common stock outstanding | 474,642 |  |  | 473,435 |  |  | 477,965 |  |  | 473,076 |
Basic earnings (loss) per share | $ | 0.06 |  |  | $ | 0.03 |  |  | $ | 0.28 |  |  | $ | 0.20 |
Schedule 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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Fully diluted earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | 26,768 |  |  | $ | 14,192 |  |  | $ | 134,699 |  |  | $ | 96,866 |
Add back: Allocations of undistributed earnings to participating securities | 799 |  |  | 243 |  |  | 4,993 |  |  | 4,065 |
Less: Reallocation of undistributed earnings to participating securities | (793) |  |  | (241) |  |  | (4,945) |  |  | (4,016) |
Net income (loss) for fully diluted shares | $ | 26,774 |  |  | $ | 14,194 |  |  | $ | 134,747 |  |  | $ | 96,915 |
Weighted-average shares: |  |  |  |  |  |  |
Common stock outstanding | 474,642 |  |  | 473,435 |  |  | 477,965 |  |  | 473,076 |
Other 1 | 3,838 |  |  | 5,217 |  |  | 4,897 |  |  | 6,085 |
Fully diluted weighted-average shares of common stock outstanding | 478,480 |  |  | 478,652 |  |  | 482,862 |  |  | 479,161 |
Fully diluted earnings (loss) per share | $ | 0.06 |  |  | $ | 0.03 |  |  | $ | 0.28 |  |  | $ | 0.20 |
____________________________ 1 Primarily consists of contracts to issue shares of BGC common stock.

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