Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2017

The following table sets forth the computation of basic and diluted earnings per share available for common stockholders (in thousands, except per share data):



	For the Three
	Months Ended
	March 31,
	2017			2016
Net income (loss)	$	(23,149	)	$	(173,811	)
Less:
Net income (loss) attributable to non-controlling interests	(5,137		)	(51,071		)
Net income (loss) available for common shareholders ^{(1) (2)}	$	(18,012	)	$	(122,740	)

Weighted-average common shares outstanding ^{(2) (3)}	52,599			42,185

Earnings (Loss) per Common Share
Basic	$	(0.34	)	$	(2.91	)
Diluted	(0.34		)	(2.91		)


⁽¹⁾	For periods of net loss, net income (loss) available for common shareholders is the same for both basic and diluted purposes.

⁽²⁾

Each Class B common unit of Evolent Health LLC can be exchanged (together with a corresponding number of shares of our Class B common stock) for one share of our Class A common stock. As holders exchange their Class B common shares for Class A common shares, our interest in Evolent Health LLC will increase. Therefore, shares of our Class B common stock are not considered dilutive shares for the purposes of calculating our diluted earnings (loss) per common share as related adjustment to net income (loss) available for common shareholders would equally offset the additional shares, resulting in the same earnings (loss) per common share.


⁽³⁾	For periods of net loss, shares used in the earnings (loss) per common share calculation represent basic shares as using diluted shares would be anti-dilutive.

Anti-dilutive shares (in thousands) excluded from the calculation of weighted-average common shares presented above are presented below:



	For the Three
	Months Ended
	March 31,
	2017	2016
Exchangeable Class B common stock	15,347	17,525
Restricted stock units ("RSU")	485	12
Options	2,915	457
Convertible senior notes	5,201	—
Total	23,948	17,994