Earnings Per Share

9 Months Ended

Sep. 30, 2022

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 September 30,				Nine Months Ended September 30,
(In thousands except per share amounts)	2022		2021		2022		2021
Numerator:
Net income	$	102,948	$	189,308	$	408,232	$	582,809
Less: net income attributable to non-controlling interests		(61,822)		(109,605)		(238,065)		(331,596)
Net income attributable to Camping World Holdings, Inc. — basic	$	41,126	$	79,703		170,167		251,213
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs		281		1,226		1,019		3,793
Net income attributable to Camping World Holdings, Inc. — diluted	$	41,407	$	80,929	$	171,186	$	255,006
Denominator:
Weighted-average shares of Class A common stock outstanding — basic		41,985		45,628		42,419		45,072
Dilutive options to purchase Class A common stock		53		138		62		157
Dilutive restricted stock units		467		1,256		466		1,204
Weighted-average shares of Class A common stock outstanding — diluted		42,505		47,022		42,947		46,433
Earnings per share of Class A common stock — basic	$	0.98	$	1.75	$	4.01	$	5.57
Earnings per share of Class A common stock — diluted	$	0.97	$	1.72	$	3.99	$	5.49
Weighted-average anti-dilutive securities excluded from the computation of diluted earnings per share of Class A common stock:
Restricted stock units		1,396		10		2,094		9
Common units of CWGS, LLC that are convertible into Class A common stock		42,045		42,635		42,045		43,731

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.