| Schedule of Earnings (Loss) Per Share |
A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings (loss) per share of Class A common stock is as follows:
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Three Months Ended September 30, 2022 |
|
Nine Months Ended September 30, 2022 |
|
Three and Nine Months Ended
September 30, 2021 |
|
Net income (loss) |
|
$ |
29,279 |
|
$ |
117,475 |
|
$ |
(32,590 |
) |
Net income attributable to the LLC before the Organizational Transactions |
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|
— |
|
|
— |
|
|
15,781 |
|
Net income (loss) attributable to non-controlling interests |
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|
17,534 |
|
|
74,318 |
|
|
(31,256 |
) |
Net income (loss) attributable to Ryan Specialty Holdings, Inc. |
|
$ |
11,745 |
|
$ |
43,157 |
|
$ |
(17,115 |
) |
Numerator: |
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|
|
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|
|
|
Net income (loss) attributable to Class A common shareholders |
|
$ |
11,745 |
|
$ |
43,157 |
|
$ |
(17,115 |
) |
Add: Income attributed to substantively vested RSUs |
|
|
165 |
|
|
596 |
|
|
— |
|
Net income (loss) attributable to Class A common shareholders- basic |
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|
11,910 |
|
|
43,753 |
|
|
(17,115 |
) |
Add: Income attributed to dilutive shares |
|
|
12,914 |
|
|
54,812 |
|
|
— |
|
Net income (loss) attributable to Class A common shareholders- diluted |
|
$ |
24,824 |
|
$ |
98,565 |
|
$ |
(17,115 |
) |
Denominator: |
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Weighted-average shares of Class A common stock outstanding- basic |
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|
109,428,073 |
|
|
108,035,360 |
|
|
105,309,406 |
|
Add: Dilutive shares |
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|
156,924,316 |
|
|
157,035,379 |
|
|
— |
|
Weighted-average shares of Class A common stock outstanding- diluted |
|
|
266,352,389 |
|
|
265,070,739 |
|
|
105,309,406 |
|
Earnings (Loss) per Share: |
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|
|
Earnings (loss) per share of Class A common stock- basic |
|
$ |
0.11 |
|
$ |
0.40 |
|
$ |
(0.16 |
) |
Earnings (loss) per share of Class A common stock- diluted |
|
$ |
0.09 |
|
$ |
0.37 |
|
$ |
(0.16 |
) |
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| 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 (loss) per share because the effect of including such potentially dilutive shares would have been antidilutive:
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Three Months Ended September 30, 2022 |
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Nine Months Ended September 30, 2022 |
|
Three and Nine Months Ended
September 30, 2021 |
|
Restricted Stock |
|
|
— |
|
|
— |
|
|
4,521,997 |
|
IPO RSUs |
|
|
— |
|
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— |
|
|
4,265,143 |
|
Reload Options |
|
|
— |
|
|
— |
|
|
4,592,319 |
|
Staking Options |
|
|
— |
|
|
— |
|
|
66,667 |
|
Restricted Common Units |
|
|
— |
|
|
— |
|
|
6,631,926 |
|
IPO RLUs |
|
|
— |
|
|
— |
|
|
1,543,277 |
|
Reload Class C Incentive Units |
|
|
— |
|
|
— |
|
|
3,911,490 |
|
Staking Class C Incentive Units |
|
|
— |
|
|
— |
|
|
2,116,667 |
|
Class C Incentive Units |
|
|
300,000 |
|
|
300,000 |
|
|
— |
|
Incentive Options |
|
|
170,392 |
|
|
170,392 |
|
|
— |
|
Conversion of non-controlling interest LLC Common Units (1) |
|
|
— |
|
|
— |
|
|
142,727,157 |
|
(1)Weighted average units outstanding during the period.
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