EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

13. EARNINGS PER SHARE

The Company’s net income (loss) and weighted average shares outstanding for the years ended December 31, 2019, 2018 and 2017 consist of the following:

	Year Ended December 31,
($ in thousands except share amounts)	2019		2018		2017
Basic Net income (loss) available for Class A common shareholders	$	122,645	$	180,015	$	95,276
Diluted Net income (loss) available for Class A common shareholders	$	122,645	$	180,015	$	124,046
Weighted average shares outstanding
Basic	105,455,849		97,226,027		81,902,524
Diluted	106,399,783		97,652,065		109,704,880

The calculation of basic and diluted net income (loss) per share amounts for the years ended December 31, 2019, 2018 and 2017 consist of the following:

	Year Ended December 31,
(In thousands except share amounts)	2019(1)		2018(1)		2017
Basic Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders	$	122,645	$	180,015	$	95,276
Denominator:
Weighted average number of shares of Class A common stock outstanding	105,455,849		97,226,027		81,902,524
Basic net income (loss) per share of Class A common stock	$	1.16	$	1.85	$	1.16
Diluted Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders	$	122,645	$	180,015	$	95,276
Add (deduct) - dilutive effect of:
Amounts attributable to operating partnership’s share of Ladder Capital Corp net income (loss)(2)	—		—		30,378
Additional corporate tax (expense) benefit(2)	—		—		(1,608		)
Diluted net income (loss) attributable to Class A common shareholders	122,645		180,015		$	124,046
Denominator:
Basic weighted average number of shares of Class A common stock outstanding	105,455,849		97,226,027		81,902,524
Add - dilutive effect of:
Shares issuable relating to converted Class B common shareholders(3)	—		—		27,773,765
Incremental shares of unvested Class A restricted stock(3)	943,934		426,038		28,591
Incremental shares of unvested stock options	—		—		—
Diluted weighted average number of shares of Class A common stock outstanding	106,399,783		97,652,065		109,704,880
Diluted net income (loss) per share of Class A common stock	$	1.15	$	1.84	$	1.13

(1) For years ended December 31, 2019 and 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.

(2) The Company is 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.

(3) The Company is using the treasury stock method.

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.