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EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic earnings per common share is computed by dividing net income available to TMHC by the weighted average number of shares of Class A Common Stock outstanding during the period. Diluted earnings per share gives effect to the potential dilution that could occur if all shares of Class B Common Stock and their corresponding New TMM Units were exchanged for shares of Class A Common Stock and if all outstanding dilutive equity awards to issue shares of Class A Common Stock were exercised or settled.
The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts):
 
 
Three months ended June 30,
 
Six months ended June 30,
 
 
2018
 
2017
 
2018
 
2017
Numerator:
 
 
 
 
 
 
 
 
Net income available to TMHC – basic
 
$
58,678

 
$
27,401

 
$
103,422

 
$
37,169

Net income attributable to non-controlling interest
 
474

 
28,322

 
3,133

 
54,164

Loss fully attributable to public holding company
 
84

 
125

 
248

 
152

Net income – diluted
 
$
59,236

 
$
55,848

 
$
106,803

 
$
91,485

Denominator:
 
 
 
 
 
 
 
 
Weighted average shares – basic (Class A)
 
111,347

 
58,977

 
110,508

 
48,822

Weighted average shares – non-controlling interest (Class B)
 
867

 
60,630

 
3,339

 
70,766

Restricted stock units
 
898

 
1,075

 
1,068

 
976

Stock Options
 
370

 
379

 
485

 
331

Weighted average shares – diluted
 
113,482

 
121,061

 
115,400

 
120,895

Earnings per common share – basic:
 
 
 
 
 
 
 
 
Net income available to Taylor Morrison Home Corporation
 
$
0.53

 
$
0.46

 
$
0.94

 
$
0.76

Earnings per common share – diluted:
 
 
 
 
 
 
 
 
Net income available to Taylor Morrison Home Corporation
 
$
0.52

 
$
0.46

 
$
0.93

 
$
0.76


We excluded a total weighted average of 1,579,683 and 1,660,683 outstanding anti-dilutive stock options and unvested restricted stock units (“RSUs”) and 787,527 and 1,926,724 stock options and unvested RSUs from the calculation of earnings per share for the three and six months ended June 30, 2018 and 2017, respectively.
The shares of Class B Common Stock have voting rights but do not have economic rights or rights to dividends or distributions on liquidation and, therefore, are not participating securities. Accordingly, Class B Common Stock is not included in basic earnings per share.