Earnings Per Common Share

12 Months Ended

Dec. 31, 2022

14. Earnings Per Common Share

Basic and diluted net income per common share are calculated as follows:


	Year Ended December 31, 2022				Year Ended December 31, 2021				Year Ended December 31, 2020
	Basic		Diluted		Basic		Diluted		Basic		Diluted



Net income attributable to common shares	$	1,225,000,000	$	1,225,000,000	$	2,974,700,000	$	2,974,700,000	$	348,200,000	$	348,200,000
Weighted-average common shares outstanding	361,278,064		365,707,722		355,241,653		362,574,564		350,464,315		358,393,802
Net income per common share	$	3.39	$	3.35	$	8.37	$	8.20	$	0.99	$	0.97

The weighted-average common shares outstanding, basic and diluted, are calculated as follows:


	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020
	Basic	Diluted	Basic	Diluted	Basic	Diluted
The Carlyle Group Inc. weighted-average common shares outstanding	361,278,064	361,278,064	355,241,653	355,241,653	350,464,315	350,464,315
Unvested restricted stock units	—	2,394,372	—	4,713,277	—	5,545,150
Issuable common shares and performance-vesting restricted stock units	—	2,035,286	—	2,619,634	—	2,384,337


Weighted-average common shares outstanding	361,278,064	365,707,722	355,241,653	362,574,564	350,464,315	358,393,802

The Company applies the treasury stock method to determine the dilutive weighted-average common shares represented by the unvested restricted stock units. Also included in the determination of dilutive weighted-average common shares are issuable common shares associated with the Company’s acquisitions, strategic investment in NGP, performance-vesting restricted stock units and issuable common shares associated with a program under which the Company may distribute realized performance allocation related compensation in fully vested, newly issued shares (see Note 15 to the consolidated financial statements).