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Earnings Per Share | 6 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per ShareBasic and diluted earnings per share of Class A common stock is presented for the three and six months ended September 30, 2021 and from September 16, 2020 through September 30, 2020, the period following the Reorganization and IPO. There were no shares of Class A common stock outstanding prior to September 16, 2020, therefore no earnings per share information has been presented for any period prior to that date. 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 September 30, 2021 |  | Period from IPO date to September 30, 2020 |  | Six Months Ended September 30, 2021
(in thousands, except share and per share amounts) |  |  |  |  |
Numerator: |  |  |  |  |
Net income (loss) attributable to StepStone Group Inc. – Basic | $ | 62,074 |  |  | $ | (790) |  |  | $ | 103,724 |
Incremental income from assumed vesting of RSUs | 1,856 |  |  | — |  |  | 2,797 |
Incremental income from assumed vesting and exchange of Class B2 units | 2,693 |  |  | — |  |  | 4,519 |
Net income (loss) attributable to StepStone Group Inc. – Diluted | $ | 66,623 |  |  | $ | (790) |  |  | $ | 111,040 |
Denominator: |  |  |  |  |
Weighted-average shares of Class A common stock outstanding – Basic | 41,745,492 |  |  | 29,237,500 |  |  | 40,401,379 |
Assumed vesting of RSUs | 1,691,661 |  |  | — |  |  | 1,523,631 |
Assumed vesting and exchange of Class B2 units | 2,471,208 |  |  | — |  |  | 2,480,045 |
Weighted-average shares of Class A common stock outstanding – Diluted | 45,908,361 |  |  | 29,237,500 |  |  | 44,405,055 |
Net income (loss) per share of Class A common stock: |  |  |  |  |
Basic | $ | 1.49 |  |  | $ | (0.03) |  |  | $ | 2.57 |
Diluted | $ | 1.45 |  |  | $ | (0.03) |  |  | $ | 2.50 |
Diluted earnings per share of Class A common stock is computed by dividing net income (loss) attributable to SSG, giving consideration to the reallocation of net income between holders of Class A common stock and non-controlling interests, by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities, if any. The calculation of diluted earnings per share for the period from the IPO date to September 30, 2020 excludes 2,509,445 shares of Class A common stock, 2,591,352 Class B2 units and 94,574 Class B units issuable pursuant to anti-dilution rights in connection with the vesting of Class B2 units that are convertible into Class A common stock under the if-converted method as the inclusion of such shares would be anti-dilutive. Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to SSG 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. The calculation of diluted earnings per share excludes 52,393,112 Class B units and 3,071,519 Class C units of the Partnership outstanding as of September 30, 2021, and 65,578,831 Class B units of the Partnership outstanding as of September 30, 2020, which are exchangeable into Class A common stock under the if-converted method, as the inclusion of such shares would be anti-dilutive

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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