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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Basic and Diluted Earnings Per Share | The following table summarizes the calculations of basic and diluted earnings per share of Class A and Class B common stock for Tradeweb Markets Inc.:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (dollars in thousands, except per share amounts)
Numerator: |  |  |  |  |  |  |  |
Net income attributable to Tradeweb Markets Inc. |  | $ | 119,239 |  |  | $ | 89,082 |  |  | $ | 245,381 |  |  | $ | 176,938 |
Less: Distributed and undistributed earnings allocated to unvested RSUs and unsettled vested PRSUs (1) |  | (70) |  |  | (102) |  |  | (164) |  |  | (225) |
Net income attributable to outstanding shares of Class A and Class B common stock - Basic and Diluted |  | $ | 119,169 |  |  | $ | 88,980 |  |  | $ | 245,217 |  |  | $ | 176,713 |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares of Class A and Class B common stock outstanding - Basic |  | 213,162,158 |  |  | 211,569,728 |  |  | 212,936,015 |  |  | 209,847,153 |
Dilutive effect of PRSUs |  | 568,304 |  |  | 350,713 |  |  | 534,583 |  |  | 318,638 |
Dilutive effect of options |  | 449,252 |  |  | 1,143,376 |  |  | 524,413 |  |  | 1,306,297 |
Dilutive effect of RSUs |  | 252,498 |  |  | 92,936 |  |  | 348,282 |  |  | 187,726 |
Dilutive effect of PSUs |  | 463,735 |  |  | — |  |  | 435,049 |  |  | — |
Weighted average shares of Class A and Class B common stock outstanding - Diluted |  | 214,895,947 |  |  | 213,156,753 |  |  | 214,778,342 |  |  | 211,659,814 |
Earnings per share - Basic |  | $ | 0.56 |  |  | $ | 0.42 |  |  | $ | 1.15 |  |  | $ | 0.84 |
Earnings per share - Diluted |  | $ | 0.55 |  |  | $ | 0.42 |  |  | $ | 1.14 |  |  | $ | 0.83 |
(1)During the three months ended June 30, 2024 and 2023, there was a total of 125,012 and 241,963 and during the six months ended June 30, 2024 and 2023, there was a total of 142,484 and 266,790, respectively, weighted average unvested RSUs and unsettled vested PRSUs that were considered a participating security for purposes of calculating earnings per share in accordance with the two-class method.
Schedule of Antidilutive Shares | The following table summarizes the PRSUs, shares underlying options, RSUs, PSUs and weighted-average LLC Interests that were anti-dilutive for the periods indicated. As a result, these shares, which were outstanding, were excluded from the computation of diluted earnings per share for the periods indicated:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Anti-dilutive Shares: |  |  |  |  |  |  |  |
PRSUs |  | — |  |  | — |  |  | — |  |  | — |
Options |  | — |  |  | — |  |  | — |  |  | — |
RSUs |  | 964 |  |  | 113,873 |  |  | 964 |  |  | 113,873 |
PSUs |  | — |  |  | — |  |  | — |  |  | — |
LLC Interests |  | 23,077,698 |  |  | 23,153,250 |  |  | 23,077,836 |  |  | 24,738,197 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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