Earnings per Share

12 Months Ended

Dec. 31, 2015

3. Earnings per Share

Historical earnings per share information is not applicable for reporting periods prior to the consummation of the Reorganization Transactions and the IPO because the ownership structure of the Company did not include a common unit of ownership. Net income available for common stockholders is based on the Company’s approximate 27.5% interest in Virtu Financial.

The below table contains a reconciliation of net income before noncontrolling interest to net income available for common stockholders:


	For the Year ended December 31
(in thousands)	2015
Income before income taxes and noncontrolling interest	$	215,929
Provision for income taxes		18,439
Net income		197,490

Net income allocable to members of Virtu Financial (for the period January 1, 2015 through April 15, 2015)		(83,147)

Noncontrolling interest subsequent to April 15, 2015		(93,456)

Net income available for common stockholders	$	20,887

The calculation of basic and diluted earnings per share is described below:

Basic earnings per share are calculated utilizing net income available for common stockholders from the year ended December 31, 2015, divided by the weighted average number of shares of common stock outstanding during the same period:


	For the Year Ended December 31
(in thousands, except for share or per share data)	2015
Basic earnings per share:
Net income available for common stockholders	$	20,887
Weighted average shares of common stock outstanding:
Class A		34,964,312

Basic Earnings per share	$	0.60

Diluted earnings per share are calculated utilizing net income available for common stockholders commencing on April 16, 2015, divided by the weighted average total number of shares of common stock outstanding during the year ended December 31, 2015 plus additional shares of common stock issued and issuable pursuant to the 2015 Management Incentive Plan (Note 13).


	For the Year Ended December 31
(in thousands, except for share or per share data)	2015
Diluted earnings per share:
Net income available for common stockholders	$	20,887

Weighted average shares of common stock outstanding:
Class A
Issued and outstanding		34,964,312
Issuable pursuant to 2015 Management Incentive Plan		375,273
		35,339,585

Diluted Earnings per share	$	0.59