Earnings Per Common Share

6 Months Ended

Jun. 30, 2023

12. Earnings Per Common Share

Basic and diluted net income (loss) per common share are calculated as follows:


	Three Months Ended June 30, 2023				Six Months Ended June 30, 2023
	Basic		Diluted		Basic		Diluted



Net income (loss) attributable to common shares	$	(98,400,000)	$	(98,400,000)	$	2,300,000	$	2,300,000
Weighted-average common shares outstanding	361,263,253		361,263,253		362,099,112		364,319,875
Net income (loss) per common share	$	(0.27)	$	(0.27)	$	0.01	$	0.01


	Three Months Ended June 30, 2022				Six Months Ended June 30, 2022
	Basic		Diluted		Basic		Diluted



Net income attributable to common shares	$	245,400,000	$	245,400,000	$	817,000,000	$	817,000,000
Weighted-average common shares outstanding	361,445,630		366,311,757		359,520,927		364,671,713
Net income per common share	$	0.68	$	0.67	$	2.27	$	2.24

The weighted-average common shares outstanding, basic and diluted, are calculated as follows:


	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
	Basic	Diluted	Basic	Diluted
The Carlyle Group Inc. weighted-average common shares outstanding	361,263,253	361,263,253	362,099,112	362,099,112
Unvested restricted stock units	—	—	—	1,509,304
Issuable common shares and performance-vesting restricted stock units	—	—	—	711,459



Weighted-average common shares outstanding	361,263,253	361,263,253	362,099,112	364,319,875


	Three Months Ended June 30, 2022		Six Months Ended June 30, 2022
	Basic	Diluted	Basic	Diluted
The Carlyle Group Inc. weighted-average common shares outstanding	361,445,630	361,445,630	359,520,927	359,520,927
Unvested restricted stock units	—	3,141,695	—	3,418,523
Issuable common shares and performance-vesting restricted stock units	—	1,724,432	—	1,732,263


Weighted-average common shares outstanding	361,445,630	366,311,757	359,520,927	364,671,713

The Company applies the treasury stock method to determine the dilutive weighted-average common shares represented by the unvested restricted stock units. Also included in the determination of dilutive weighted-average common shares are issuable common shares associated with the Company’s acquisitions, investment in NGP, performance-vesting restricted stock units and issuable common shares associated with a program under which the Company may distribute realized performance allocation related compensation in fully vested, newly issued shares (see Note 13 to the unaudited condensed consolidated financial statements). For the three months ended June 30, 2023, all such awards are antidilutive and excluded from the computation of diluted earnings per share given the net loss attributable to common stockholders.