Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share

Earnings Per Share

16. Earnings Per Share

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

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands except per share amounts)	2019		2018		2019		2018
Numerator:
Net income	$	52,623	$	77,132	$	25,816	$	90,680
Less: net income attributable to non-controlling interests		(34,606)		(52,350)		(27,194)		(64,077)
Net income (loss) attributable to Camping World Holdings, Inc. — basic		18,017		24,782		(1,378)		26,603
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs		—		33		—		48
Add: Reallocation of net income attributable to non-controlling interests from the assumed exchange of common units of CWGS, LLC for Class A common stock		22,565		—		—		—
Net income (loss) attributable to Camping World Holdings, Inc. — diluted	$	40,582	$	24,815	$	(1,378)	$	26,651
Denominator:
Weighted-average shares of Class A common stock outstanding — basic		37,239		36,964		37,217		36,890
Dilutive options to purchase Class A common stock		—		—		—		157
Dilutive restricted stock units		17		83		—		136
Dilutive common units of CWGS, LLC that are convertible into Class A common stock		51,669		—		—		—
Weighted-average shares of Class A common stock outstanding — diluted		88,925		37,047		37,217		37,183
Earnings (loss) per share of Class A common stock — basic	$	0.48	$	0.67	$	(0.04)	$	0.72
Earnings (loss) per share of Class A common stock — diluted	$	0.46	$	0.67	$	(0.04)	$	0.72
Weighted-average anti-dilutive securities excluded from the computation of diluted earnings per share of Class A common stock:
Stock options to purchase Class A common stock		804		920		831		462
Restricted stock units		1,351		896		1,427		451
Common units of CWGS, LLC that are convertible into Class A common stock		—		51,717		51,671		51,773

Shares of the Company’s Class B common stock and Class C common stock do not share in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock or Class C common stock under the two-class method has not been presented.