Earnings Per Common Share

12 Months Ended

Dec. 31, 2024

12. Earnings Per Common Share

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


	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
	Basic	Diluted	Basic	Diluted	Basic	Diluted
Net income (loss) attributable to common shares	$1,020,400,000	$1,020,400,000	$(608,400,000)	$(608,400,000)	$1,225,000,000	$1,225,000,000
Weighted-average common shares outstanding	358,584,203	368,024,612	361,395,823	361,395,823	361,278,064	365,707,722
Net income (loss) per common share	$2.85	$2.77	$(1.68)	$(1.68)	$3.39	$3.35

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


	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
	Basic	Diluted	Basic	Diluted	Basic	Diluted
The Carlyle Group Inc. weighted-average common shares outstanding	358,584,203	358,584,203	361,395,823	361,395,823	361,278,064	361,278,064
Unvested restricted stock units	—	6,685,145	—	—	—	2,394,372
Issuable common shares and performance- vesting restricted stock units	—	2,755,264	—	—	—	2,035,286
Weighted-average common shares outstanding	358,584,203	368,024,612	361,395,823	361,395,823	361,278,064	365,707,722

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 investment in NGP and performance-vesting restricted stock

units. For the year ended December 31, 2023, all such awards are antidilutive and excluded from the computation of diluted

earnings per share given the net loss attributable to common stockholders.