Earnings Per Share

12 Months Ended

Dec. 31, 2024

Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding plus the dilutive effect of outstanding securities, and such dilutive effect is computed using the treasury stock method.

For the purposes of determining the basic and diluted weighted-average number of common shares outstanding during the periods presented that are prior to the Corporate Conversion and ALH Contribution, the Company retrospectively reflected the effects of the Corporate Conversion and the ALH Contribution. As such, the basic and diluted weighted-average number of common shares outstanding for those periods reflect the conversion of the Company's membership units into common stock on the date of the Corporate Conversion and ALH Contribution, assuming that all common stock issued in conjunction with the Corporate Conversion and ALH Contribution was issued and outstanding as of the beginning of the earliest period presented.

The following table sets forth the computation of basic and diluted net income per share (in thousands, except share and per share amounts):


	Years Ended December 31,
		2024		2023		2022
Basic:
Net income attributable to common stockholders		$	210,343	$	53,904	$	188,909
Weighted-average number of common shares		132,439,695		126,115,301		126,115,301
Net income per common share		$	1.59	$	0.43	$	1.50
Diluted:
Net income attributable to common stockholders		$	210,343	$	53,904	$	188,909
Weighted-average number of common shares		132,744,577		126,115,301		126,115,301
Net income per common share		$	1.58	$	0.43	$	1.50

The following table sets forth the components of the denominator for the computation of basic and diluted net income per share for net income attributable to Ardent Health Partners, Inc. stockholders:


	Years Ended December 31,
		2024	2023	2022
Weighted-average number of common shares - basic		132,439,695	126,115,301	126,115,301
Effect of dilutive securities(1)		304,882	—	—
Weighted-average number of common shares - diluted		132,744,577	126,115,301	126,115,301

(1) The effect of dilutive securities does not reflect 183,566 weighted-average potential common shares that are subject to restricted stock awards or issuable upon vesting of restricted stock units for the year ended December 31, 2024 because their effect was antidilutive as calculated under the treasury stock method.