Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Calculation of Basic Earnings Per Share

The following is the calculation of the Company’s basic EPS (in thousands, except per share data):

	Year Ended December 31,
	2015		2014		2013
Basic earnings per share:
Net income available to common stockholders	$	126,788	$	4,135	$	70,924
Basic weighted-average shares of common stock outstanding		243,460		220,697		193,694
Basic earnings per share	$	0.52	$	0.02	$	0.37

Calculation of Fully Diluted Earnings Per Share

The following is the calculation of the Company’s fully diluted EPS (in thousands, except per share data):

	Year Ended December 31,
	2015		2014		2013
Fully diluted earnings per share
Net income available to common stockholders	$	126,788	$	4,135	$	70,924
Allocation of net income to limited partnership interests in BGC Holdings, net of tax		33,675		1,555		25,912
Interest expense on convertible notes, net of tax		8,058		—		—
Dividend equivalent expense on RSUs, net of tax		—		2		15
Net income for fully diluted shares	$	168,521	$	5,692	$	96,851
Weighted-average shares:
Common stock outstanding		243,460		220,697		193,694
Limited partnership interests in BGC Holdings		65,582		106,047		70,432
Convertible notes		23,034		—		—
RSUs (Treasury stock method)		741		775		413
Other		2,570		936		809
Fully diluted weighted-average shares of common stock outstanding		335,387		328,455		265,348
Fully diluted earnings per share	$	0.50	$	0.02	$	0.36