Earnings per Share

3 Months Ended

Mar. 31, 2023

The calculation of basic and diluted earnings per share for the three months ended March 31, 2023 and 2022 was as follows (in thousands, except share and per share amounts):


	For the three months ended March 31,
	2023		2022
Net income attributable to Altus Power, Inc.	5,617		60,419
Income attributable to participating securities(1)	(36)		(558)
Net income attributable to common stockholders - basic and diluted	5,581		59,861
Class A Common Stock
Weighted average shares of common stock outstanding - basic(2)	158,621,674		152,662,512
Dilutive restricted stock	258,789		690,875
Dilutive RSUs	2,120,928		231,140
Dilutive conversion of alignment shares	2,011		2,011
Weighted average shares of common stock outstanding - diluted	161,003,402		153,586,538
Net income attributable to common stockholders per share - basic	$	0.04	$	0.39
Net income attributable to common stockholders per share - diluted	$	0.03	$	0.39

(1) Represents the income attributable to 1,006,250 and 1,207,500 Alignment Shares outstanding as of March 31, 2023 and 2022, respectively.

(2) For the three months ended March 31, 2023 and 2022, the calculation of basic weighted average shares of common stock outstanding excludes 271,259 and 714,750 shares, respectively, of the Company's Class A common stock provided to holders of Legacy Altus common stock, including shares that were subject to vesting conditions.