Earnings Per Share

9 Months Ended

Sep. 30, 2020

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income (loss) attributable to SBA Communications Corporation by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income (loss) attributable to SBA Communications Corporation by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted net income (loss) per common share attributable to common shareholders for the three and nine months ended September 30, 2020 and 2019 (in thousands, except per share data):



	For the three months				For the nine months
	ended September 30,				ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss) attributable to SBA
Communications Corporation	$	22,568	$	21,679	$	(81,678)	$	79,640
Denominator:
Basic weighted-average shares outstanding		111,783		113,037		111,809		112,985
Dilutive impact of stock options, RSUs, and PSUs		1,920		2,147		—		1,839
Diluted weighted-average shares outstanding		113,703		115,184		111,809		114,824
Net income (loss) per common share attributable to SBA
Communications Corporation:
Basic	$	0.20	$	0.19	$	(0.73)	$	0.70
Diluted	$	0.20	$	0.19	$	(0.73)	$	0.69

For the three months ended September 30, 2020, the diluted weighted average number of common shares outstanding excluded an additional 1,520 shares issuable upon the vesting of the Company’s RSUs and PSUs because the impact would be anti-dilutive.

For the nine months ended September 30, 2020, all potential common stock equivalents, including 3.2 million shares of stock options, 0.3 million shares of RSUs, and 0.1 million shares of PSUs, each issuable upon exercise or vesting, were excluded as the effect would be anti-dilutive.

For the three and nine months ended September 30, 2019, the diluted weighted average number of common shares outstanding excluded an additional 8,091 and 18,277 shares, respectively, issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.