NON-CONTROLLING INTEREST AND INCOME (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2023

NON-CONTROLLING INTEREST AND INCOME (LOSS) PER SHARE

Schedule of controlling and non-controlling interest

	2022		2023
Focus LLC common units	12,034,104		12,540,262
Focus LLC restricted common units	193,625		294,875
Common unit equivalents of outstanding vested and unvested Focus LLC incentive units(1)	4,347,399		8,172,603
Total common units, restricted common units and common unit equivalents attributable to non-controlling interest	16,575,128		21,007,740
Total common units, restricted common units and common unit equivalents of incentive units outstanding	82,017,517		87,023,327
Non-controlling interest allocation	20.2	%	24.1	%
Company’s interest in Focus LLC	79.8	%	75.9	%

(1) Focus LLC common units issuable upon conversion of 16,202,274 and 16,559,179 (see Note 9) vested and unvested Focus LLC incentive units outstanding as of June 30, 2022 and 2023, respectively, was calculated using the common unit equivalent of vested and unvested Focus LLC incentive units based on the closing price of the Company’s Class A common stock on the last trading day of the periods.

Schedule of calculation of basic income per share

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2023		2022		2023
Net income attributable to common shareholders	$	33,083	$	32,177	$	62,185	$	31,545
Weighted average shares of Class A common stock outstanding		65,389,642		65,999,323		65,360,667		65,969,827
Basic income per share	$	0.51	$	0.49	$	0.95	$	0.48

Schedule of calculation of diluted income per share

	Three Months Ended				Six Months Ended
		June 30,				June 30,
	2022		2023		2022		2023
Net income attributable to common shareholders	$	33,083	$	32,177	$	62,185	$	31,545
Add: Dilutive effect of non-controlling interests related to Focus LLC common, restricted common and incentive units		—		(41,080)		—		(59,195)
Total		33,083		(8,903)		62,185		(27,650)
Weighted average shares of Class A common stock outstanding		65,389,642		65,999,323		65,360,667		65,969,827
Effect of dilutive stock options		190,235		442,604		298,647		418,072
Effect of dilutive restricted stock units		16,500		73,547		22,767		61,775
Effect of dilutive non-controlling interests related to Focus LLC common, restricted common and incentive units		—		19,152,587		—		18,694,606
Total		65,596,377		85,668,061		65,682,081		85,144,280
Diluted income (loss) per share	$	0.50	$	(0.10)	$	0.95	$	(0.32)