Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Components of Calculation of Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented:


	Three Months Ended March 31,
	2023		2022
Numerator:
Net income (loss)	$	113,791	$	(20,661)
Net (income) loss attributable to Noncontrolling interest	(61,792)		10,676
Net income (loss) attributable to Class A common shareholders for Basic EPS	51,999		(9,985)

Adjustment for assumed conversions and elimination of Noncontrolling interest net income (loss)	429		(10,676)
Net income (loss) attributable to Class A common shareholders for Diluted EPS	$	52,428	$	(20,661)

Denominator:
Weighted average shares outstanding used in Basic EPS	18,975		21,107
Effect of dilutive securities:
Common Units and Class B Common Stock that are exchangeable for Class A Common Stock 1	—		—
RSUs and PRSUs 1	648		—
Weighted average shares outstanding used in Diluted EPS 1	19,623		21,107

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1 For the three months ended March 31, 2023 and 2022, approximately 22.5 million potentially dilutive Common Units (and the associated 22.5 million Class B Common Stock) had the effect of being anti-dilutive and were excluded from the calculation of earnings per share. For the three months ended March 31, 2022, 0.6 million of RSUs and PRSUs had the effect of being anti-dilutive and were excluded from the calculation of earnings per share.