CBRE GROUP, INC. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2024 | 2023 | 2022 | |||||||||||||||
| Basic Income Per Share | |||||||||||||||||
| Net income attributable to CBRE Group, Inc. stockholders | $ | 968 | $ | 986 | $ | 1,407 | |||||||||||
| Weighted average shares outstanding for basic income per share | 305,859,458 | 308,430,080 | 322,813,345 | ||||||||||||||
| Basic income per share attributable to CBRE Group, Inc. stockholders | $ | 3.16 | $ | 3.20 | $ | 4.36 | |||||||||||
| Diluted Income Per Share | |||||||||||||||||
| Net income attributable to CBRE Group, Inc. stockholders | $ | 968 | $ | 986 | $ | 1,407 | |||||||||||
| Weighted average shares outstanding for basic income per share | 305,859,458 | 308,430,080 | 322,813,345 | ||||||||||||||
| Dilutive effect of contingently issuable shares | 2,174,154 | 4,120,862 | 4,882,770 | ||||||||||||||
| Weighted average shares outstanding for diluted income per share | 308,033,612 | 312,550,942 | 327,696,115 | ||||||||||||||
| Diluted income per share attributable to CBRE Group, Inc. stockholders | $ | 3.14 | $ | 3.15 | $ | 4.29 | |||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.