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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
10. EARNINGS PER SHARE
The Company has Class A and non-voting common stock outstanding. The non-voting common stock has the same economic rights as the Class A common stock; therefore, earnings per share is presented on a combined basis. Income of the Company has been allocated on a proportionate basis to the two common stock classes.

Basic earnings per share of Class A and non-voting common stock is computed by using the two-class method. Diluted earnings per share of Class A and non-voting common stock is computed using the more dilutive method of either the two-class method or the treasury stock method.

For the three and six months ended June 30, 2023, the treasury stock method was the more dilutive method. For the three and six months ended June 30, 2022, the two-class method was the more dilutive method.

The computation of diluted earnings per share excludes the following restricted units and restricted units and AOG Units as their effect would have been anti-dilutive:
Three months ended June 30,Six months ended June 30,
2023202220232022
Restricted units— — 4,131 — 
AOG Units120,137,310 — 119,391,357 — 
The following table presents the computation of basic and diluted earnings per common share:
Three months ended June 30,Six months ended June 30,
2023202220232022
Basic earnings per share of Class A and non-voting common stock:
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders$144,514 $39,731 $238,553 $85,594 
Distributions on unvested restricted units(5,316)(3,461)(10,630)(7,046)
Net income available to Class A and non-voting common stockholders$139,198 $36,270 $227,923 $78,548 
Basic weighted-average shares of Class A and non-voting common stock182,999,515 175,157,558 180,998,934 174,694,645 
Basic earnings per share of Class A and non-voting common stock$0.75 $0.21 $1.25 $0.45 
Diluted earnings per share of Class A and non-voting common stock:
Net income attributable to Ares Management Corporation Class A and non-voting common stockholders$144,514 $39,731 $238,553 $85,594 
Distributions on unvested restricted units— (3,461)— (7,046)
Net income available to Class A and non-voting common stockholders$144,514 $36,270 $238,553 $78,548 
Effect of dilutive shares:
Restricted units8,489,883 — 7,991,062 — 
Options2,568,643 — 3,171,820 — 
Diluted weighted-average shares of Class A and non-voting common stock194,058,041 175,157,558 192,161,816 174,694,645 
Diluted earnings per share of Class A and non-voting common stock$0.74 $0.21 $1.24 $0.45 
Dividend declared and paid per Class A and non-voting common stock$0.77 $0.61 $1.54 $1.22