NON-CONTROLLING INTERESTS AND INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2020

NON-CONTROLLING INTEREST AND INCOME (LOSS) PER SHARE

Schedule of controlling and non-controlling interest

	2019		2020
Focus LLC common units held by continuing owners	22,568,831		21,759,379
Common unit equivalents of outstanding vested and unvested incentive units held by continuing owners(1)	7,614,402		3,623,660
Total common units and common unit equivalents attributable to non-controlling interest	30,183,233		25,383,039
Total common units and common unit equivalents of incentive units outstanding	76,858,416		73,190,068
Non-controlling interest allocation	39.3	%	34.7	%
Company’s interest in Focus LLC	60.7	%	65.3	%

(1) Focus LLC common units issuable upon conversion of 18,048,706 and 19,369,928 (see Note 9) vested and unvested Focus LLC incentive units outstanding as of March 31, 2019 and 2020, respectively, was calculated using the common unit equivalent of vested and unvested Focus LLC incentive units based on the closing price of the Company’s Class A common stock on the last trading day of the periods.

Schedule of reconciliation of net income before noncontrolling interest to net income (loss) attributable to common stockholders

	Three Months Ended
	March 31,
	2019		2020
Net income (loss)	$	(2,828)	$	34,019
Non-controlling interest		(114)		(13,623)
Net income (loss) attributable to common shareholders	$	(2,942)	$	20,396

Schedule of calculation of basic earnings per share

	Three Months Ended
	March 31,
	2019		2020
Basic income (loss) per share:
Net income (loss) attributable to common shareholders	$	(2,942)	$	20,396
Weighted average shares of Class A common stock outstanding		46,211,599		47,436,555
Basic income (loss) per share	$	(0.06)	$	0.43

Schedule of calculation of diluted earnings per share

	Three Months Ended
		March 31,
	2019		2020
Diluted income (loss) per share:
Net income (loss) attributable to common shareholders	$	(2,942)	$	20,396
Weighted average shares of Class A common stock outstanding		46,211,599		47,436,555
Effect of dilutive stock options		—		2,573
Effect of dilutive unvested Class A common stock and restricted stock units		—		2,044
Total		46,211,599		47,441,172
Diluted income (loss) per share	$	(0.06)	$	0.43