Earnings Per Share

6 Months Ended

Jun. 30, 2020

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				Six Months Ended
	June 30,				June 30,
(In thousands except per share amounts)	2020		2019		2020		2019
Numerator:
Net income	$	163,222	$	52,623	$	149,093	$	25,816
Less: net income attributable to non-controlling interests		(105,145)		(34,606)		(99,176)		(27,194)
Net income (loss) attributable to Camping World Holdings, Inc. — basic and diluted	$	58,077	$	18,017		49,917		(1,378)
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		79,603		22,565		68,383		—
Net income (loss) attributable to Camping World Holdings, Inc. — diluted	$	137,680	$	40,582	$	118,300	$	(1,378)
Denominator:
Weighted-average shares of Class A common stock outstanding — basic and diluted		37,635		37,239		37,585		37,217
Dilutive restricted stock units		434		17		359		—
Dilutive common units of CWGS, LLC that are convertible into Class A common stock		51,620		51,669		51,634		—
Weighted-average shares of Class A common stock outstanding — diluted		89,689		88,925		89,578		37,217
Earnings (loss) per share of Class A common stock — basic	$	1.54	$	0.48	$	1.33	$	(0.04)
Earnings (loss) per share of Class A common stock — diluted	$	1.54	$	0.46	$	1.32	$	(0.04)
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		715		804		726		831
Restricted stock units		620		1,351		658		1,427
Common units of CWGS, LLC that are convertible into Class A common stock		—		—		—		51,671

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.