Net Income per Common Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net Income per Common Share

Net Income per Common Share

The following is a computation of basic and diluted net income per common share attributable to Acushnet Holdings Corp.:

	Three months ended				Nine months ended
	September 30,				September 30,
(in thousands, except share and per share amounts)	2022		2021		2022		2021
Net income attributable to Acushnet Holdings Corp.	$	51,837	$	39,264	$	199,336	$	205,307
Weighted average number of common shares:
Basic	71,706,824		74,533,652		72,701,647		74,656,837
RSUs	390,826		589,891		336,486		535,521
PSUs	236,748		177,888		171,586		100,289
Diluted	72,334,398		75,301,431		73,209,719		75,292,647
Net income per common share attributable to Acushnet Holdings Corp.:
Basic	$	0.72	$	0.53	$	2.74	$	2.75
Diluted	$	0.72	$	0.52	$	2.72	$	2.73

Net income per common share attributable to Acushnet Holdings Corp. was calculated using the treasury stock method.

The Company’s potential dilutive securities for the three and nine months ended September 30, 2022 and 2021 include RSUs and PSUs. PSUs vest based upon achievement of performance targets and are excluded from the diluted shares outstanding unless the performance targets have been met as of the end of the applicable reporting period regardless of whether such performance targets are probable of achievement. During both 2022 and 2021, the minimum performance target was achieved relating to certain PSUs and as a result, these PSUs have been included in diluted shares outstanding for the three and nine months ended September 30, 2022 and 2021.

The following securities have been excluded from the calculation of diluted weighted-average common shares outstanding as their impact was determined to be anti-dilutive:

	Three months ended		Nine months ended
	September 30,		September 30,
	2022	2021	2022	2021
RSUs	852	—	126,262	97,161