14. EARNINGS PER SHARE

The Company’s net income (loss) and weighted average shares outstanding for the years ended December 31, 2018, 2017 and 2016 consist of the following:



($ in thousands except share amounts)	For the Year Ended December 31, 2018		For the Year Ended December 31, 2017		For the Year Ended December 31, 2016

Basic Net income (loss) available for Class A common shareholders	$	180,015	$	95,276	$	66,727
Diluted Net income (loss) available for Class A common shareholders	$	180,015	$	124,046	$	114,156
Weighted average shares outstanding
Basic	97,226,027		81,902,524		61,998,089
Diluted	97,652,065		109,704,880		107,638,788

The calculation of basic and diluted net income (loss) per share amounts for the years ended December 31, 2018, 2017 and 2016 are described and presented below.

Basic Net Income (Loss) per Share

Numerator: utilizes net income (loss) available for Class A common shareholders for the years ended December 31, 2018, 2017 and 2016, respectively.

Denominator: utilizes the weighted average shares of Class A common stock for the years ended December 31, 2018, 2017 and 2016, respectively.

Diluted Net Income (Loss) per Share

Numerator: utilizes net income (loss) available for Class A common shareholders for the years ended December 31, 2018, 2017 and 2016, respectively, for the basic net income (loss) per share calculation described above, adding net income (loss) amounts attributable to the noncontrolling interest in the Operating Partnership using the as-if converted method for the Class B common shareholders while adjusting for additional corporate income tax expense (benefit) for the described net income (loss) add-back.

Denominator: utilizes the weighted average number of shares of Class A common stock for the years ended December 31, 2018, 2017 and 2016, respectively, for the basic net income (loss) per share calculation described above adding the dilutive effect of shares issuable relating to Operating Partnership exchangeable interests and the incremental shares of unvested Class A restricted stock using the treasury method.



(In thousands except share amounts)	For the Year Ended December 31, 2018		For the Year Ended December 31, 2017			For the Year Ended December 31, 2016

Basic Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders	$	180,015	$	95,276		$	66,727
Denominator:
Weighted average number of shares of Class A common stock outstanding	97,226,027		81,902,524			61,998,089
Basic net income (loss) per share of Class A common stock	$	1.85	$	1.16		$	1.08

Diluted Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders	$	180,015	$	95,276		$	66,727
Add (deduct) - dilutive effect of:
Amounts attributable to operating partnership’s share of Ladder Capital Corp net income (loss)	—		30,378			47,130
Additional corporate tax (expense) benefit	—		(1,608		)	299
Diluted net income (loss) attributable to Class A common shareholders	$	180,015	$	124,046		$	114,156
Denominator:
Basic weighted average number of shares of Class A common stock outstanding	97,226,027		81,902,524			61,998,089
Add - dilutive effect of:
Shares issuable relating to converted Class B common shareholders	—		27,773,765			45,118,668
Incremental shares of unvested Class A restricted stock	426,038		28,591			522,031
Diluted weighted average number of shares of Class A common stock outstanding	97,652,065		109,704,880			107,638,788
Diluted net income (loss) per share of Class A common stock	$	1.84	$	1.13		$	1.06


(1)	For the year ended December 31, 2018, shares issuable relating to converted Class B common shareholders are excluded from the calculation of diluted EPS as the inclusion of such potential common shares in the calculation would be anti-dilutive.

The shares of Class B common stock do not share in the earnings of Ladder Capital Corp and are, therefore, not participating securities. Accordingly, basic and diluted net income (loss) per share of Class B common stock has not been presented, although the assumed conversion of Class B common stock has been included in the presented diluted net income (loss) per share of Class A common stock.