Earnings Per Share

6 Months Ended

Jun. 30, 2023

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 Class A 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 Class A common stock outstanding adjusted for any dilutive Class A 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 per common share attributable to common shareholders for the three and six months ended June 30, 2023 and 2022 (in thousands, except per share data):



	For the three months				For the six months
	ended June 30,				ended June 30,
	2023		2022		2023		2022
Numerator:
Net income attributable to SBA
Communications Corporation	$	203,648	$	69,516	$	304,865	$	258,140
Denominator:
Basic weighted-average shares outstanding		108,355		107,850		108,244		107,966
Dilutive impact of stock options, RSUs, and PSUs		529		1,497		834		1,477
Diluted weighted-average shares outstanding		108,884		109,347		109,078		109,443
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	1.88	$	0.64	$	2.82	$	2.39
Diluted	$	1.87	$	0.64	$	2.79	$	2.36

For the three and six months ended June 30, 2023 and 2022, 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.