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

6 Months Ended

Jun. 30, 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	22,308,446		21,496,103
Common unit equivalents of outstanding vested and unvested incentive units held by continuing owners(1)	5,125,588		6,690,670
Total common units and common unit equivalents attributable to non-controlling interest	27,434,034		28,186,773
Total common units and common unit equivalents of incentive units outstanding	74,550,851		76,278,480
Non-controlling interest allocation	36.8	%	37.0	%
Company’s interest in Focus LLC	63.2	%	63.0	%

(1) Focus LLC common units issuable upon conversion of 17,830,564 and 19,334,928 (see Note 9) vested and unvested Focus LLC incentive units outstanding as of June 30, 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				Six Months Ended
	June 30,				June 30,
	2019		2020		2019		2020
Net income	$	3,102	$	3,328	$	274	$	37,347
Non-controlling interest		(2,306)		(919)		(2,420)		(14,542)
Net income (loss) attributable to common shareholders	$	796	$	2,409	$	(2,146)	$	22,805

Schedule of calculation of basic earnings per share

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2020		2019		2020
Basic income (loss) per share:
Net income (loss) attributable to common shareholders	$	796	$	2,409	$	(2,146)	$	22,805
Weighted average shares of Class A common stock outstanding		46,696,200		47,847,756		46,455,238		47,642,156
Basic income (loss) per share	$	0.02	$	0.05	$	(0.05)	$	0.48

Schedule of calculation of diluted earnings per share

	Three Months Ended				Six Months Ended
		June 30,				June 30,
	2019		2020		2019		2020
Diluted income (loss) per share:
Net income (loss) attributable to common shareholders	$	796	$	2,409	$	(2,146)	$	22,805
Add: Dilutive effect of non-controlling interests related to Focus LLC common and incentive units		—		47		—		—
Total		796		2,456		(2,146)		22,805
Weighted average shares of Class A common stock outstanding		46,696,200		47,847,756		46,455,238		47,642,156
Effect of dilutive stock options		—		1,637		—		2,105
Effect of dilutive unvested Class A common stock and restricted stock units		25,359		11,547		—		6,796
Effect of non-controlling interests related to Focus LLC common and incentive units		—		25,557,168		—		—
Total		46,721,559		73,418,108		46,455,238		47,651,057
Diluted income (loss) per share	$	0.02	$	0.03	$	(0.05)	$	0.48