Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Loss) (Unaudited)

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Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Net commissions and fees $ 588,129 $ 487,345 $ 1,806,264 $ 1,507,878
Fiduciary investment income 16,565 14,593 45,917 36,808
Total revenue 604,694 501,938 1,852,181 1,544,686
EXPENSES        
Compensation and benefits 393,249 329,212 1,180,825 989,294
General and administrative 88,684 69,288 247,518 202,595
Amortization 39,182 29,572 97,711 79,125
Depreciation 2,467 2,201 6,820 6,570
Change in contingent consideration (365) 1,848 813 4,358
Total operating expenses 523,217 432,121 1,533,687 1,281,942
OPERATING INCOME 81,477 69,817 318,494 262,744
Interest expense, net 49,388 31,491 109,916 89,840
(Income) from equity method investment in related party (4,182) (2,271) (13,510) (5,882)
Other non-operating loss 16,590 67 18,575 37
INCOME BEFORE INCOME TAXES 19,681 40,530 203,513 178,749
Income tax expense (benefit) (8,962) 24,827 16,155 42,772
NET INCOME 28,643 15,703 187,358 135,977
Net income attributable to non-controlling interests, net of tax 11,054 20,750 106,447 97,786
NET INCOME (LOSS) ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. 17,589 (5,047) 80,911 38,191
Class A Common Stock        
EXPENSES        
NET INCOME (LOSS) ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. $ 17,589 $ (5,047) $ 80,911 $ 38,191
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK:        
Basic (in dollars per share) $ 0.15 $ (0.04) $ 0.67 $ 0.34
Diluted (in dollars per share) $ 0.09 $ (0.04) $ 0.59 $ 0.34
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:        
Basic (in shares) 121,915,952 115,872,327 119,383,234 113,291,850
Diluted (in shares) 272,686,269 115,872,327 271,283,392 124,883,523