Earnings Per Share

6 Months Ended

Jun. 30, 2022

15.EARNINGS PER SHARE

Basic earnings per share was computed by dividing net income 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 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 per common share attributable to common shareholders for the three and six months ended June 30, 2022 and 2021 (in thousands, except per share data):



	For the three months				For the six months
	ended June 30,				ended June 30,
	2022		2021		2022		2021
Numerator:
Net income attributable to SBA
Communications Corporation	$	69,516	$	152,669	$	258,140	$	140,922
Denominator:
Basic weighted-average shares outstanding		107,850		109,412		107,966		109,441
Dilutive impact of stock options, RSUs, and PSUs		1,497		1,889		1,477		1,769
Diluted weighted-average shares outstanding		109,347		111,301		109,443		111,210
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	0.64	$	1.40	$	2.39	$	1.29
Diluted	$	0.64	$	1.37	$	2.36	$	1.27

For the three and six months ended June 30, 2022 and 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.