EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

13. EARNINGS PER SHARE

The Company’s net income (loss) and weighted average shares outstanding for the years ended December 31, 2021, 2020 and 2019 consist of the following:


	Year Ended December 31,
($ in thousands except share amounts)		2021		2020		2019

Basic and Diluted Net income (loss) available for Class A common shareholders		$	56,522	$	(14,445)	$	122,645

Weighted average shares outstanding
Basic		123,763,843		112,409,615		105,455,849
Diluted		124,563,051		112,409,615		106,399,783

The calculation of basic and diluted net income (loss) per share amounts for the years ended December 31, 2021, 2020 and 2019 consist of the following:


	Year Ended December 31,
(In thousands except share and per share amounts)		2021		2020(1)		2019(1)

Basic Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	56,522	$	(14,445)	$	122,645
Denominator:
Weighted average number of shares of Class A common stock outstanding		123,763,843		112,409,615		105,455,849
Basic net income (loss) per share of Class A common stock		$	0.46	$	(0.13)	$	1.16

Diluted Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	56,522	$	(14,445)	$	122,645



Diluted net income (loss) attributable to Class A common shareholders		56,522		(14,445)		$	122,645
Denominator:
Basic weighted average number of shares of Class A common stock outstanding		123,763,843		112,409,615		105,455,849
Add - dilutive effect of:

Incremental shares of unvested Class A restricted stock(2)		799,208		—		943,934

Diluted weighted average number of shares of Class A common stock outstanding		124,563,051		112,409,615		106,399,783
Diluted net income (loss) per share of Class A common stock		$	0.45	$	(0.13)	$	1.15

(1)For the years ended December 31, 2020 and 2019, 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. There were no Class B shares outstanding during the year ended December 31, 2021.

(2)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 for the period of time that Class B common stock was outstanding.