EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Antidilutive Securities Excluded from Earnings per Common Unit

The computation of diluted earnings per share for the three and nine months ended September 30, 2021 and 2020 excludes the following restricted units and AOG units, as their effect would have been anti-dilutive:


	Three months ended September 30,		Nine months ended September 30,
	2021	2020	2021	2020

Restricted units	450	572	167	—
AOG Units	119,855,724	114,726,173	115,394,058	—

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,
	2021		2020		2021		2020
Basic earnings per share of Class A and non-voting common stock:
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders	$	84,726	$	42,120	$	262,659	$	56,605
Distributions on unvested restricted units	(1,440)		(2,757)		(8,142)		(7,715)
Undistributed earnings allocable to participating unvested restricted units	(306)		—		(2,858)		—
Net income available to Class A and non-voting common stockholders	$	82,980	$	39,363	$	251,659	$	48,890
Basic weighted-average shares of Class A and non-voting common stock	168,931,621		143,466,209		161,071,151		131,866,471
Basic earnings per share of Class A and non-voting common stock	$	0.49	$	0.27	$	1.55	$	0.37

Diluted earnings per share of Class A and non-voting common stock:
Net income available to Class A and non-voting common stockholders	$	84,726	$	42,120	$	262,659	$	56,605
Distributions on unvested restricted units	—		—		—		(7,715)
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders	$	84,726	$	42,120	$	262,659	$	48,890
Effect of dilutive shares:
Restricted units	12,273,068		9,762,645		10,807,242		—
Options	5,317,468		4,893,709		5,265,045		—

Diluted weighted-average shares of Class A and non-voting common stock	186,522,157		158,122,563		177,143,438		131,866,471
Diluted earnings per share of Class A and non-voting common stock	$	0.45	$	0.27	$	1.48	$	0.37

Dividend declared and paid per Class A and non-voting common stock	$	0.47	$	0.40	$	1.41	$	1.20