EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of antidilutive securities excluded from earnings per common unit

For the three and nine months ended September 30, 2020 and 2019, the computation of dilutive earnings per share excludes the following options, restricted units and AOG Units, as their effect would have been anti-dilutive:


	Three months ended September 30,		Nine months ended September 30,
	2020	2019	2020	2019

Restricted units	572	40	—	53
AOG Units	114,726,173	116,707,849	—	116,844,099

Schedule of the computation of basic and diluted earnings per common unit

The following table presents the computation of basic and diluted earnings per common share:


	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Basic earnings per share of Class A common stock:
Net income attributable to Ares Management Corporation Class A common stockholders	$	42,120	$	27,906	$	56,605	$	94,144
Distributions on unvested restricted units	(2,757)		(1,927)		(7,715)		(5,630)

Net income available to Class A common stockholders	$	39,363	$	25,979	$	48,890	$	88,514
Basic weighted-average shares of Class A common stock	143,466,209		108,481,929		131,866,471		105,546,219
Basic earnings per share of Class A common stock	$	0.27	$	0.24	$	0.37	$	0.84

Diluted earnings per share of Class A common stock:
Net income available to Class A common stockholders	$	42,120	$	27,906	$	56,605	$	94,144
Distributions on unvested restricted units	—		—		(7,715)		—
Net income attributable to Ares Management Corporation Class A common stockholders	$	42,120	$	27,906	$	48,890	$	94,144
Effect of dilutive shares:
Restricted units	9,762,645		8,722,690		—		7,140,271
Options	4,893,709		4,685,403		—		3,731,646

Diluted weighted-average shares of Class A common stock	158,122,563		121,890,022		131,866,471		116,418,136
Diluted earnings per share of Class A common stock	$	0.27	$	0.23	$	0.37	$	0.81

Dividend declared and paid per Class A common stock	$	0.40	$	0.32	$	1.20	$	0.96