Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.23.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE        
Net commissions and fees $ 573,020 $ 490,227 $ 1,020,533 $ 876,908
Fiduciary investment income 12,129 1,065 22,215 1,274
Total revenue 585,149 491,292 1,042,748 878,182
EXPENSES        
Compensation and benefits 352,360 310,058 660,082 584,331
General and administrative 81,608 48,495 133,307 90,860
Amortization 24,368 26,233 49,553 52,896
Depreciation 2,177 1,229 4,369 2,440
Change in contingent consideration 1,796 (251) 2,510 (1,260)
Total operating expenses 462,309 385,764 849,821 729,267
OPERATING INCOME 122,840 105,528 192,927 148,915
Interest expense, net 28,881 24,846 58,349 46,598
Loss (income) from equity method investment in related party (1,616) 16 (3,611) 558
Other non-operating loss (income) 108 (622) (30) 6,898
INCOME BEFORE INCOME TAXES 95,467 81,288 138,219 94,861
Income tax expense 11,650 11,168 17,945 6,665
NET INCOME 83,817 70,120 120,274 88,196
Net income attributable to non-controlling interests, net of tax 53,739 45,619 77,036 56,784
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. $ 30,078 $ 24,501 $ 43,238 $ 31,412
Common Class A [Member]        
NET INCOME PER SHARE OF CLASS A COMMON STOCK:        
Earnings (loss) per share - basic $ 0.27 $ 0.23 $ 0.39 $ 0.3
Earnings (loss) per share - diluted $ 0.26 $ 0.22 $ 0.37 $ 0.28
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:        
Basic 112,915,557 108,054,437 111,980,226 107,327,462
Diluted 123,845,655 120,204,902 123,685,098 264,417,470