NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS (Tables)

6 Months Ended

Jun. 30, 2016

NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS

Schedule of calculations of basic and diluted net income (loss) per share

	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands, except per share amounts)	2016			2015			2016			2015
Numerator:
Net income (loss) attributable to holders of shares of Class A common stock—basic	$	6,893		$	7,131		$	13,863		$	12,467
Add (deduct) dilutive effect of:
Noncontrolling interests related to Class A partnership units			(a)			(a)			(a)			(a)
Net income (loss) attributable to holders of shares of Class A common stock—diluted	$	6,893		$	7,131		$	13,863		$	12,467
Denominator:
Weighted average shares of Class A common stock outstanding—basic		20,745,043			19,978,108			20,654,657			19,961,286
Add (deduct) dilutive effect of:
Noncontrolling interests related to Class A partnership units			(a)			(a)			(a)			(a)
Weighted average number of incremental shares issuable from unvested restricted stock, RSUs and stock options, as calculated using the treasury stock method		2,873,050	(b)		1,110,112	(b)		2,397,598	(b)		1,182,875	(b)
Weighted average shares of Class A common stock outstanding—diluted		23,618,093			21,088,220			23,052,255			21,144,161
Net income (loss) per share attributable to holders of shares of Class A common stock
Basic	$	0.33		$	0.36		$	0.67		$	0.62
Diluted	$	0.29		$	0.34		$	0.60		$	0.59

(a)

Class A partnership units may be exchanged for Moelis & Company Class A common stock on a one-for-one basis, subject to applicable lock-up, vesting and transfer restrictions. If all Class A partnership units were to be exchanged for Class A common stock, fully diluted Class A common stock outstanding would be 57,386,765 and 55,248,459 for the three months ended June 30, 2016 and 2015, respectively, and 56,911,313 and 55,321,222 for the six months ended June 30, 2016 and 2015, respectively. In computing the dilutive effect, if any, that the aforementioned exchange would have on net income (loss) per share, net income (loss) available to holders of Class A common stock would be adjusted due to the elimination of the noncontrolling interests in consolidated entities associated with the Group LP Class A partnership units (including any tax impact). For the three and six months ended June 30, 2016 and 2015, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive.

(b)

During the three and six months ended June 30, 2016 and 2015, certain shares of Moelis & Company's Class A common stock assumed to be issued pursuant to certain RSUs as calculated using the treasury stock method were antidilutive and therefore have been excluded from the calculation of diluted net income (loss) per share attributable to Moelis & Company. During the three months ended June 30, 2016 and 2015, the additional weighted average amount of RSUs that would have been included in this calculation if the effect were dilutive would have been 1,793 and 1,701,845 units, respectively, and 899 and 1,012,501 units for the six months ended June 30, 2016 and 2015, respectively. Additionally, during the three months ended June 30, 2016 and 2015, the additional weighted average amount of options that would have been included in this calculation if the effect were dilutive would have been 14,505 and 10,000, respectively, and 1,053,593 and 0 weighted average options for the six months ended June 30, 2016 and 2015, respectively.