Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share

Earnings Per Share

21. Earnings Per Share

Basic and Diluted 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:

	Year Ended December 31,
(In thousands except per share amounts)	2022		2021		2020
Numerator:
Net income	$	351,031	$	642,075	$	344,215
Less: net income attributable to non-controlling interests		(214,084)		(363,614)		(221,870)
Net income attributable to Camping World Holdings, Inc. — basic		136,947		278,461		122,345
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs		938		—		1,304
Add: reallocation of net income attributable to non-controlling interests from the assumed redemption of common units of CWGS, LLC for Class A common stock		—		266,381		—
Net income attributable to Camping World Holdings, Inc. — diluted	$	137,885	$	544,842	$	123,649
Denominator:
Weighted-average shares of Class A common stock outstanding — basic		42,386		45,009		39,383
Dilutive options to purchase Class A common stock		56		150		79
Dilutive restricted stock units		412		1,165		547
Dilutive common units of CWGS, LLC that are convertible into Class A common stock		—		43,438		—
Weighted-average shares of Class A common stock outstanding — diluted		42,854		89,762		40,009
Earnings per share of Class A common stock — basic	$	3.23	$	6.19	$	3.11
Earnings per share of Class A common stock — diluted	$	3.22	$	6.07	$	3.09
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		—		—		361
Restricted stock units		2,146		6		1,349
Common units of CWGS, LLC that are convertible into Class A common stock		42,045		—		49,916

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.