Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share

Earnings Per Share

17. 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				Nine Months Ended
	September 30,				September 30,
(In thousands except per share amounts)	2019		2018		2019		2018
Numerator:
Net (loss) income	$	(65,263)	$	46,155	$	(39,447)	$	136,835
Less: net loss (income) attributable to non-controlling interests		34,571		(32,032)		7,377		(96,109)
Net income (loss) attributable to Camping World Holdings, Inc. — basic		(30,692)		14,123		(32,070)		40,726
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs		—		8		—		56
Net income (loss) attributable to Camping World Holdings, Inc. — diluted	$	(30,692)	$	14,131	$	(32,070)	$	40,782
Denominator:
Weighted-average shares of Class A common stock outstanding — basic		37,361		37,018		37,266		36,933
Dilutive options to purchase Class A common stock		—		—		—		104
Dilutive restricted stock units		—		37		—		103
Weighted-average shares of Class A common stock outstanding — diluted		37,361		37,055		37,266		37,140
Earnings (loss) per share of Class A common stock — basic	$	(0.82)	$	0.38	$	(0.86)	$	1.10
Earnings (loss) per share of Class A common stock — diluted	$	(0.82)	$	0.38	$	(0.86)	$	1.10
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		767		903		809		611
Restricted stock units		1,266		1,639		1,373		851
Common units of CWGS, LLC that are convertible into Class A common stock		51,669		51,708		51,671		51,751

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.