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Earnings per Share (Tables) | 3 Months Ended
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Mar. 31, 2019
Earnings Per Share [Abstract] |
Schedule of reconciliation of net income before noncontrolling interest to net income available for common stockholders | The below table contains a reconciliation of net income before noncontrolling interest to net income available for common stockholders:
|  | Three Months Ended March 31,
(in thousands) |  | 2019 |  | 2018
Income (loss) before income taxes and noncontrolling interest |  | $ | (16,204 | ) |  | $ | 468,536 |
Provision for (benefit from) income taxes |  | (2,585 | ) |  | 58,514 |
Net income (loss) |  | (13,619 | ) |  | 410,022 |
Noncontrolling interest |  | 6,946 |  |  | (235,271 | )
Net income (loss) available for common stockholders |  | $ | (6,673 | ) |  | $ | 174,751 |
Schedule of basic earnings per share | The calculation of basic and diluted earnings per share is presented below:
|  | Three Months Ended March 31,
(in thousands, except for share or per share data) |  | 2019 |  | 2018
Basic earnings per share: |  |  |  |
Net income (loss) available for common stockholders |  | $ | (6,673 | ) |  | $ | 174,751 |
Less: Dividends and undistributed earnings allocated to participating securities |  | (441 | ) |  | (3,213 | )
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  | (7,114 | ) |  | 171,538 |
Weighted average shares of common stock outstanding: |  |  |  |
Class A |  | 107,319,812 |  |  | 90,699,321 |
Basic earnings per share |  | $ | (0.07 | ) |  | $ | 1.89 |
Schedule of diluted earnings per share |
|  | Three Months Ended March 31,
(in thousands, except for share or per share data) |  | 2019 |  | 2018
Diluted earnings per share: |  |  |  |
Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  | $ | (7,114 | ) |  | $ | 171,538 |
Weighted average shares of common stock outstanding: |  |  |  |
Class A |  |  |  |
Issued and outstanding |  | 107,319,812 |  |  | 90,699,321 |
Issuable pursuant to Amended and Restated 2015 Management Incentive Plan (1) |  | — |  |  | 1,706,996 |
|  | 107,319,812 |  |  | 92,406,317 |
Diluted earnings per share |  | $ | (0.07 | ) |  | $ | 1.86 |
(1) | The dilutive impact excludes from the computation of earnings per share 864,601 unexercised stock options and 168,221 restricted stock units issuable pursuant to Amended and Restated Investment Technology Group, Inc. 2007 Omnibus Equity Compensation Plan for the three months ended March 31, 2019 because the inclusion of the options and restricted stock units would have been anti-dilutive.

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