Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.23.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE    
Net commissions and fees $ 447,513 $ 386,681
Fiduciary investment income 10,086 209
Total revenue 457,599 386,890
EXPENSES    
Compensation and benefits 307,722 274,274
General and administrative 51,699 42,361
Amortization 25,185 26,663
Depreciation 2,192 1,211
Change in contingent consideration 714 (1,008)
Total operating expenses 387,512 343,501
OPERATING INCOME 70,087 43,389
Interest expense, net 29,468 21,752
Loss (income) from equity method investment in related party (1,995) 543
Other non-operating loss (income) (138) 7,521
INCOME BEFORE INCOME TAXES 42,752 13,573
Income tax expense (benefit) 6,295 (4,503)
NET INCOME 36,457 18,076
Net income attributable to non-controlling interests, net of tax 23,297 11,165
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. $ 13,160 $ 6,911
Common Class A [Member]    
NET INCOME PER SHARE OF CLASS A COMMON STOCK:    
Earnings (loss) per share - basic $ 0.12 $ 0.07
Earnings (loss) per share - diluted $ 0.11 $ 0.06
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:    
Basic 111,034,503 106,592,836
Diluted 266,978,224 264,121,066