EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

The following table sets forth the calculation of basic and diluted earnings (loss) per share for Class A common stock and Class D common stock:


	For the year ended December 31,
	2023				2022				2021
	Class A		Class D		Total		Class A		Class D		Total		Class A		Class D		Total





Net (loss) income allocated to common stockholders	$	(49,042)	$	(61,100)	$	(110,142)	$	(103,026)	$	(169,994)	$	(273,020)	$	13,998	$	99,526	$	113,524


Weighted average shares - basic	77,879,392		97,026,671		174,906,063		58,879,239		97,151,111		156,030,350		16,029,314		113,969,580		129,998,894

(Loss) earnings per share:
Basic	$	(0.63)	$	(0.63)	$	(0.63)	$	(1.75)	$	(1.75)	$	(1.75)	$	0.87	$	0.87	$	0.87













Diluted	$	(0.63)	$	(0.63)	$	(0.63)	$	(1.75)	$	(1.75)	$	(1.75)	$	0.87	$	0.87	$	0.87

There was no Class B common stock outstanding for any periods presented. The potential dilutive effect of the exchange of Class C common stock for Class A common stock is evaluated under the if-converted method. Reallocation of net income or loss attributable to the dilutive impact of the exchange of Class C common stock for Class A common stock was tax-effected using the combined federal and state rate (less federal benefit) of 26.2%, 27.4%, and 26.0% for the years ended December 31, 2023, 2022, and 2021, respectively. The potential dilutive effect of stock options, restricted stock units, and ESPP shares is evaluated under the treasury stock method. The following table summarizes the shares that were anti-dilutive for the periods and excluded from the computation of diluted earnings or loss per share.


	For the year ended December 31,
	2023	2022	2021
Class C common stock	147,789,060	163,541,101	192,465,222
Stock options, restricted stock units, ESPP shares(1)	16,919,589	14,278,795	1,192,211
Total	164,708,649	177,819,896	193,657,433

(1)Stock options, restricted stock units, and ESPP shares are weighted for the portion of the period for which they were outstanding. There were no stock options or ESPP shares granted prior to 2022.