Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of basic and Diluted earnings per share

The following table summarizes the basic and diluted earnings per share calculations for Tradeweb Markets Inc. (post-IPO period):



	Three Months Ended
EPS: Net income attributable to Tradeweb Markets Inc.	March 31, 2020
(in thousands, except share and per share amounts)
Numerator:
Net income attributable to Tradeweb Markets Inc.	$	43,928

Denominator:
Weighted average shares of Class A and Class B common stock outstanding - Basic		166,234,749
Dilutive effect of equity-settled PRSUs		2,038,422
Dilutive effect of options		6,221,549
Dilutive effect of RSUs		22,524
Weighted average shares of Class A and Class B common stock outstanding - Diluted		174,517,244

Earnings per share - Basic	$	0.26
Earnings per share - Diluted	$	0.25

The following table summarizes the basic and diluted earnings per share calculations for Tradeweb Markets LLC (pre-IPO period):



	Three Months Ended
EPS: Net income attributable to Tradeweb Markets LLC(1)	March 31, 2019
(in thousands, except share and per share amounts)
Numerator:
Net income attributable to Tradeweb Markets LLC	$	42,352

Denominator:
Weighted average LLC Interests outstanding - Basic		222,222,197
Dilutive effect of equity-settled PRSUs		1,098,260
Weighted average LLC Interests outstanding - Diluted		223,320,457

Earnings per share - Basic	$	0.19
Earnings per share - Diluted	$	0.19

(1)

Earnings per share and weighted average shares outstanding for the pre-IPO period has been computed to give effect to the Reorganization Transactions, including the amendment and restatement of the TWM LLC Agreement to, among other things, (i) provide for LLC Interests and (ii) exchange all of the then existing membership interests in TWM LLC for LLC interests.