Quarterly report pursuant to Section 13 or 15(d)

Loss Per Share

v3.22.1
Loss Per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Loss Per Share
12.
Earnings Per Share

Basic earnings per share is computed by dividing net earnings attributable to Ryan Specialty Group Holdings, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share is computed giving

effect to all potentially dilutive shares. As shares of Class B common stock do not share in earnings and are not participating securities they are not included in the Company's calculation.

Prior to the IPO, the RSG LLC equity structure included preferred units, Class A common units, and Class B common units. The Company considered the calculation of earnings per unit for periods prior to the IPO and determined that it would not be meaningful to the users of these consolidated financial statements. Therefore, earnings per share information has not been presented for the three months ended March 31, 2021.

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:

 

 

Three Months Ended
March 31, 2022

 

Net income

 

$

18,076

 

Net income attributable to non-controlling interests

 

 

11,165

 

Net income attributable to Ryan Specialty Group Holdings, Inc.

 

$

6,911

 

Numerator:

 

 

 

Net income attributable to Class A common shareholders

 

$

6,911

 

Add: Income attributed to substantively vested RSUs

 

 

29

 

Net income attributable to Class A common shareholders- basic

 

 

6,940

 

Add: Income attributed to dilutive shares

 

 

8,275

 

Net income attributable to Class A common shareholders- diluted

 

$

15,215

 

Denominator:

 

 

 

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

 

 

106,592,836

 

Add: Dilutive shares

 

 

157,528,230

 

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

 

 

264,121,066

 

Earnings per Share:

 

 

 

Earnings per share of Class A common stock- basic

 

$

0.07

 

Earnings per share of Class A common stock- diluted

 

$

0.06

 

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:

 

 

Three Months Ended
March 31, 2022

 

Incentive Options

 

 

175,222

 

Class C Incentive Units

 

 

300,000