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Earnings Per Share | 3 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic and diluted earnings per share of Class A common stock are presented for the three months ended June 30, 2024 and 2023. 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, |  |
| 2024 |  | 2023 |  |  |  |
(in thousands, except share and per share amounts) |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income attributable to StepStone Group Inc. – Basic | $ | 13,328 |  |  | $ | 21,269 |  |  |  |  |
Incremental income from assumed vesting of RSUs | 131 |  |  | 135 |  |  |  |  |
Incremental income from assumed vesting and exchange of Class B2 units | 335 |  |  | 829 |  |  |  |  |
Net income attributable to StepStone Group Inc. – Diluted | $ | 13,794 |  |  | $ | 22,233 |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted-average shares of Class A common stock outstanding – Basic | 66,187,754 |  |  | 62,834,818 |  |  |  |  |
Assumed vesting of RSUs | 673,854 |  |  | 400,034 |  |  |  |  |
Assumed vesting and exchange of Class B2 units | 1,732,153 |  |  | 2,504,618 |  |  |  |  |
Weighted-average shares of Class A common stock outstanding – Diluted | 68,593,761 |  |  | 65,739,470 |  |  |  |  |
Net income per share of Class A common stock: |  |  |  |  |  |  |
Basic | $ | 0.20 |  |  | $ | 0.34 |  |  |  |  |
Diluted | $ | 0.20 |  |  | $ | 0.34 |  |  |  |  |
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. 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 45,889,135 Class B units, 1,780,446 Class C units and 2,239,185 Class D units of the Partnership outstanding as of June 30, 2024, and 46,420,141 Class B units and 2,514,085 Class C units of the Partnership outstanding as of June 30, 2023, all of 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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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