Earnings Per Share

6 Months Ended

Jun. 30, 2021

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net 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 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.

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The following table sets forth basic and diluted net income (loss) per common share attributable to common shareholders for the three and six months ended June 30, 2021 and 2020 (in thousands, except per share data):



	For the three months				For the six months
	ended June 30,				ended June 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) attributable to SBA
Communications Corporation	$	152,669	$	22,813	$	140,922	$	(104,247)
Denominator:
Basic weighted-average shares outstanding		109,412		111,738		109,441		111,823
Dilutive impact of stock options, RSUs, and PSUs		1,889		1,896		1,769		—
Diluted weighted-average shares outstanding		111,301		113,634		111,210		111,823
Net income (loss) per common share attributable to SBA
Communications Corporation:
Basic	$	1.40	$	0.20	$	1.29	$	(0.93)
Diluted	$	1.37	$	0.20	$	1.27	$	(0.93)

For the three months ended June 30, 2021 and 2020, the diluted weighted average number of common shares outstanding excluded an immaterial number of shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.

For the six months ended June 30, 2021, the diluted weighted average number of common shares outstanding excluded an immaterial number of shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.

For the six months ended June 30, 2020, all potential common stock equivalents, including 3.3 million shares underlying stock options outstanding, 0.3 million shares underlying RSUs outstanding, and 0.1 million shares underlying PSUs outstanding, were excluded as the effect would be anti-dilutive.