Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

Net income

$

118,038

$

83,817

$

158,715

$

120,274

Less: Net income attributable to non-controlling interests

71,251

53,739

95,393

77,036

Net income attributable to Ryan Specialty Holdings, Inc.

$

46,787

$

30,078

$

63,322

$

43,238

Numerator:

Net income attributable to Class A common shareholders

$

46,787

$

30,078

$

63,322

$

43,238

Add (less): Income attributed to substantively vested RSUs

(1,556

)

406

(2,138

)

541

Net income attributable to Class A common shareholders – basic

$

45,231

$

30,484

$

61,184

$

43,779

Add: Income attributed to dilutive shares

53,791

1,621

72,056

2,494

Net income attributable to Class A common shareholders – diluted

$

99,022

$

32,105

$

133,240

$

46,273

Denominator:

Weighted-average shares of Class A common stock outstanding – basic

118,394,113

112,915,557

118,102,959

111,980,226

Add: Dilutive shares

152,824,436

10,930,098

152,467,499

11,704,872

Weighted-average shares of Class A common stock outstanding – diluted

271,218,549

123,845,655

270,570,458

123,685,098

Earnings per share

Earnings per share of Class A common stock – basic

$

0.38

$

0.27

$

0.52

$

0.39

Earnings per share of Class A common stock – diluted

$

0.37

$

0.26

$

0.49

$

0.37