Earnings per Share

Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to HLI, and therefore are not participating securities. As a result, a separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been included. Shares of the Company’s Class B common stock are, however, considered potentially dilutive to the Class A common stock because each share of Class B common stock, together with a corresponding Class B unit, is exchangeable for a share of Class A common stock on a one-for-one basis.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:



	Three Months Ended
	June 30, 2018					June 30, 2017
	Net income attributable to HLI		Weighted-Average Shares	Per share amount		Net income attributable to HLI		Weighted-Average Shares	Per share amount
Basic EPS of Class A common stock	$	8,845	22,248,547	$	0.40	$	5,464	17,981,601	$	0.30
Adjustment to net income:
Assumed exercise and vesting of employee awards	119					83
Effect of dilutive securities:
Assumed exercise and vesting of employee awards			524,940					477,814
Diluted EPS of Class A common stock	$	8,964	22,773,487	$	0.39	$	5,547	18,459,415	$	0.30

The calculation of diluted earnings per share for the three months ended June 30, 2018 and 2017 excludes 30,603,983 and 34,438,669 outstanding Class B and C Units of HLA, respectively, which are exchangeable into Class A common stock under the “if-converted” method, because the inclusion of such shares would be antidilutive.