Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share

Earnings Per Share

18. Earnings Per Share

Basic earnings per share of Class A common stock is computed by dividing net income attributable 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 attributable 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 June 30,				Six Months Ended June 30,
(In thousands except per share amounts)	2023		2022		2023		2022
Numerator:
Net income	$	64,723	$	197,985	$	69,626	$	305,284
Less: net income attributable to non-controlling interests		(36,020)		(113,674)		(37,754)		(176,243)
Net income attributable to Camping World Holdings, Inc. — basic	$	28,703	$	84,311		31,872		129,041
Add: reallocation of net income attributable to non-controlling interests from the assumed dilutive effect of stock options and RSUs		101		405		—		738
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		—		—		28,569		—
Net income attributable to Camping World Holdings, Inc. — diluted	$	28,804	$	84,716	$	60,441	$	129,779
Denominator:
Weighted-average shares of Class A common stock outstanding — basic		44,490		41,737		44,473		42,640
Dilutive options to purchase Class A common stock		29		44		22		66
Dilutive restricted stock units		285		358		243		465
Dilutive common units of CWGS, LLC that are convertible into Class A common stock		—		—		40,045		—
Weighted-average shares of Class A common stock outstanding — diluted		44,804		42,139		84,783		43,171
Earnings per share of Class A common stock — basic	$	0.65	$	2.02	$	0.72	$	3.03
Earnings per share of Class A common stock — diluted	$	0.64	$	2.01	$	0.71	$	3.01
Weighted-average anti-dilutive securities excluded from the computation of diluted earnings per share of Class A common stock:
Restricted stock units		1,099		3,256		1,608		2,448
Common units of CWGS, LLC that are convertible into Class A common stock		40,045		42,045		—		42,045

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 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.