| Schedule of Earnings Per Share |
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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Three Months Ended
June 30, 2022 |
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Six Months Ended
June 30, 2022 |
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Net income |
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$ |
70,120 |
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$ |
88,196 |
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Net income attributable to non-controlling interests |
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45,619 |
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56,784 |
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Net income attributable to Ryan Specialty Holdings, Inc. |
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$ |
24,501 |
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$ |
31,412 |
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Numerator: |
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Net income attributable to Class A common shareholders |
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$ |
24,501 |
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$ |
31,412 |
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Add: Income attributed to substantively vested RSUs |
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387 |
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372 |
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Net income attributable to Class A common shareholders- basic |
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24,888 |
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31,784 |
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Add: Income attributed to dilutive shares |
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1,544 |
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41,942 |
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Net income attributable to Class A common shareholders- diluted |
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$ |
26,432 |
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$ |
73,726 |
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Denominator: |
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Weighted-average shares of Class A common stock outstanding- basic |
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108,054,437 |
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107,327,462 |
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Add: Dilutive shares |
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12,150,465 |
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157,090,008 |
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Weighted-average shares of Class A common stock outstanding- diluted |
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120,204,902 |
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264,417,470 |
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Earnings per Share: |
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Earnings per share of Class A common stock- basic |
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$ |
0.23 |
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$ |
0.30 |
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Earnings per share of Class A common stock- diluted |
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$ |
0.22 |
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$ |
0.28 |
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| Schedule of Number of Shares Excluded from Calculation of Diluted Earnings 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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Three Months Ended
June 30, 2022 |
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Six Months Ended
June 30, 2022 |
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Incentive Options |
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175,222 |
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175,222 |
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Class C Incentive Units |
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300,000 |
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300,000 |
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Conversion of non-controlling interest LLC Common Units (1) |
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144,495,397 |
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— |
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(1)Weighted average shares outstanding for the three months ended June 30, 2022.
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