| 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 March 31, |
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2023 |
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2022 |
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Net income |
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$ |
36,457 |
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$ |
18,076 |
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Less: Net income attributable to non-controlling interests |
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23,297 |
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|
11,165 |
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Net income attributable to Ryan Specialty Holdings, Inc. |
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$ |
13,160 |
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$ |
6,911 |
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Numerator: |
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Net income attributable to Class A common shareholders |
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$ |
13,160 |
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$ |
6,911 |
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Add: Income attributed to substantively vested RSUs |
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|
225 |
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|
29 |
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Net income attributable to Class A common shareholders – basic |
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$ |
13,385 |
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$ |
6,940 |
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Add: Income attributed to dilutive shares |
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17,180 |
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|
8,275 |
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Net income attributable to Class A common shareholders – diluted |
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$ |
30,565 |
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$ |
15,215 |
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Denominator: |
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Weighted-average shares of Class A common stock outstanding – basic |
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111,034,503 |
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106,592,836 |
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Add: Dilutive shares |
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155,943,721 |
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157,528,230 |
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Weighted-average shares of Class A common stock outstanding – diluted |
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266,978,224 |
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264,121,066 |
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Earnings per Share: |
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Earnings per share of Class A common stock – basic |
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$ |
0.12 |
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$ |
0.07 |
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Earnings per share of Class A common stock – diluted |
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$ |
0.11 |
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$ |
0.06 |
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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 March 31, |
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2023 |
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2022 |
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Incentive RSUs |
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5,405 |
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— |
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Class C Incentive Units |
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495,822 |
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300,000 |
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Incentive Options |
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168,282 |
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175,222 |
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