EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Antidilutive Securities Excluded from Earnings per Common Unit

The computation of diluted earnings per share excludes the following AOG Units as their effect would have been anti-dilutive:


	Three months ended September 30,		Nine months ended September 30,
	2022	2021	2022	2021

Restricted units	—	450	—	167
AOG Units	—	119,855,724	—	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,
	2022		2021		2022		2021
Basic earnings per share of Class A and non-voting common stock:
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders	$	(35,546)	$	84,726	$	50,048	$	262,659
Distributions on unvested restricted units	(3,555)		(1,440)		(10,601)		(8,142)
Undistributed earnings allocable to participating unvested restricted units	—		(306)		—		(2,858)
Net income (loss) available to Class A and non-voting common stockholders	$	(39,101)	$	82,980	$	39,447	$	251,659
Basic weighted-average shares of Class A and non-voting common stock	175,631,144		168,931,621		175,010,241		161,071,151
Basic earnings (loss) per share of Class A and non-voting common stock	$	(0.22)	$	0.49	$	0.23	$	1.55

Diluted earnings per share of Class A and non-voting common stock:
Net income (loss) available to Class A and non-voting common stockholders	$	(35,546)	$	84,726	$	50,048	$	262,659
Distributions on unvested restricted units	(3,555)		—		(10,601)		—
Net income (loss) attributable to Ares Management Corporation Class A and non-voting common stockholders	$	(39,101)	$	84,726	$	39,447	$	262,659
Effect of dilutive shares:
Restricted units	—		12,273,068		—		10,807,242
Options	—		5,317,468		—		5,265,045

Diluted weighted-average shares of Class A and non-voting common stock	175,631,144		186,522,157		175,010,241		177,143,438
Diluted earnings (loss) per share of Class A and non-voting common stock	$	(0.22)	$	0.45	$	0.23	$	1.48

Dividend declared and paid per Class A and non-voting common stock	$	0.61	$	0.47	$	1.83	$	1.41