| Summary of Earnings (Loss) Per Share Basic and Diluted |
A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share of Class A common stock is as follows:
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|
|
|
|
|
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|
|
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Three Months Ended March 31, |
|
|
|
2024 |
|
2023 |
|
Net income |
|
$ |
40,677 |
|
$ |
36,457 |
|
Less: Net income attributable to non-controlling interests |
|
|
24,142 |
|
|
23,297 |
|
Net income attributable to Ryan Specialty Holdings, Inc. |
|
$ |
16,535 |
|
$ |
13,160 |
|
Numerator: |
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|
|
|
|
Net income attributable to Class A common shareholders |
|
$ |
16,535 |
|
$ |
13,160 |
|
Add (less): Income attributed to substantively vested RSUs |
|
|
(550 |
) |
|
225 |
|
Net income attributable to Class A common shareholders – basic |
|
$ |
15,985 |
|
$ |
13,385 |
|
Add: Income attributed to dilutive shares |
|
|
18,242 |
|
|
17,180 |
|
Net income attributable to Class A common shareholders – diluted |
|
$ |
34,227 |
|
$ |
30,565 |
|
Denominator: |
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|
|
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Weighted-average shares of Class A common stock outstanding – basic |
|
|
117,811,805 |
|
|
111,034,503 |
|
Add: Dilutive shares |
|
|
152,110,563 |
|
|
155,943,721 |
|
Weighted-average shares of Class A common stock outstanding – diluted |
|
|
269,922,368 |
|
|
266,978,224 |
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Earnings per share |
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|
|
|
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Earnings per share of Class A common stock – basic |
|
$ |
0.14 |
|
$ |
0.12 |
|
Earnings per share of Class A common stock – diluted |
|
$ |
0.13 |
|
$ |
0.11 |
|
|
| Schedule of Number of Shares Excluded from Calculation of Diluted Earnings (Loss) Per Share |
The following number of shares were excluded from the calculation of diluted earnings per share because the effect of including such potentially dilutive shares would have been antidilutive:
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|
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|
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Three Months Ended March 31, |
|
|
|
2024 |
|
2023 |
|
Class C Incentive Units |
|
|
195,822 |
|
|
495,822 |
|
Incentive Options |
|
|
150,000 |
|
|
168,282 |
|
Incentive RSUs |
|
|
— |
|
|
5,405 |
|
|