Earnings Per Share

Basic earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities.

Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to Planet Fitness, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however, considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Holdings Units, are exchangeable into shares of Class A common stock on a one-for-one basis.

The following table sets forth reconciliations used to compute basic and diluted earnings per share of Class A common stock:



	Three months ended March 31,
	2019		2018
Numerator
Net income	$	31,639	$	23,493
Less: net income attributable to non-controlling interests	4,230		3,613
Net income attributable to Planet Fitness, Inc.	$	27,409	$	19,880
Denominator
Weighted-average shares of Class A common stock outstanding - basic	83,805,545		87,434,384
Effect of dilutive securities:
Stock options	569,864		255,527
Restricted stock units	49,866		7,774
Weighted-average shares of Class A common stock outstanding - diluted	84,425,275		87,697,685
Earnings per share of Class A common stock - basic	$	0.33	$	0.23
Earnings per share of Class A common stock - diluted	$	0.32	$	0.23

Weighted average shares of Class B common stock of 9,238,948 and 10,953,521 for the three months ended March 31, 2019 and 2018, respectively, were evaluated under the if-converted method for potential dilutive effects and were not determined to be dilutive. Weighted average stock options outstanding of 29,285 and 0 for the three months ended March 31, 2019 and 2018, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive.