EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of the Company's net income and weighted average shares outstanding

The Company’s net income (loss) and weighted average shares outstanding for the years ended December 31, 2020, 2019 and 2018 consist of the following:


	Year Ended December 31,
($ in thousands except share amounts)		2020		2019		2018

Basic Net income (loss) available for Class A common shareholders		$	(14,445)	$	122,645	$	180,015
Diluted Net income (loss) available for Class A common shareholders		$	(14,445)	$	122,645	$	180,015
Weighted average shares outstanding
Basic		112,409,615		105,455,849		97,226,027
Diluted		112,409,615		106,399,783		97,652,065

Schedule of calculation of basic and diluted net income per share amounts

The calculation of basic and diluted net income (loss) per share amounts for the years ended December 31, 2020, 2019 and 2018 consist of the following:


	Year Ended December 31,
(In thousands except share and per share amounts)		2020(1)		2019(1)		2018(1)

Basic Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	(14,445)	$	122,645	$	180,015
Denominator:
Weighted average number of shares of Class A common stock outstanding		112,409,615		105,455,849		97,226,027
Basic net income (loss) per share of Class A common stock		$	(0.13)	$	1.16	$	1.85

Diluted Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	(14,445)	$	122,645	$	180,015
Add (deduct) - dilutive effect of:
Amounts attributable to operating partnership’s share of Ladder Capital Corp net income (loss)(2)		—		—		—
Additional corporate tax (expense) benefit(2)		—		—		—
Diluted net income (loss) attributable to Class A common shareholders		(14,445)		122,645		$	180,015
Denominator:
Basic weighted average number of shares of Class A common stock outstanding		112,409,615		105,455,849		97,226,027
Add - dilutive effect of:
Shares issuable relating to converted Class B common shareholders(3)		—		—		—
Incremental shares of unvested Class A restricted stock(3)		—		943,934		426,038
Incremental shares of unvested stock options		—		—		—
Diluted weighted average number of shares of Class A common stock outstanding		112,409,615		106,399,783		97,652,065
Diluted net income (loss) per share of Class A common stock		$	(0.13)	$	1.15	$	1.84

(1)For the years ended December 31, 2020, 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 for periods prior to September 30, 2020. There are no Class B common stock outstanding as of December 31, 2020.

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