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NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS | 12 Months Ended
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Dec. 31, 2016
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS |
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS | 9. NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO CLASS A COMMON SHAREHOLDERS The calculations of basic and diluted net income (loss) per share attributable to holders of shares of Class A common stock for the year ended December 31, 2016 and 2015 are presented below.
|  | Year Ended December 31,
(dollars in thousands, except per share amounts) |  | 2016 |  | 2015 |  | 2014
Numerator: |  |  |  |  |  |  |  |  |
Net income (loss) attributable to holders of shares of Class A common stock—basic |  | $ | 38,387 |  | $ | 33,104 |  | $ | (3,012)
Add (deduct) dilutive effect of: |  |  |  |  |  |  |  |  |
Noncontrolling interests related to Class A partnership units | (a) |  |  | (a) |  |  | (a) |  |
Net income (loss) attributable to holders of shares of Class A common stock—diluted |  | $ | 38,387 |  | $ | 33,104 |  | $ | (3,012)
Denominator: |  |  |  |  |  |  |  |  |
Weighted average shares of Class A common stock outstanding—basic |  |  | 20,933,757 |  |  | 20,021,652 |  |  | 15,911,819
Add (deduct) dilutive effect of: |  |  |  |  |  |  |  |  |
Noncontrolling interests related to Class A partnership units | (a) |  |  | (a) |  |  | (a) |  |
Weighted average number of incremental shares issuable from unvested restricted stock, RSUs and stock options, as calculated using the treasury stock method | (b) |  | 3,308,545 | (b) |  | 1,340,919 | (b) |  |
Weighted average shares of Class A common stock outstanding—diluted |  |  | 24,242,302 |  |  | 21,362,571 |  |  | 15,911,819
Net income (loss) per share attributable to holders of shares of Class A common stock |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.83 |  | $ | 1.65 |  | $ | (0.19)
Diluted |  | $ | 1.58 |  | $ | 1.55 |  | $ | (0.19)
The allocation of income (loss) to Class A shareholders only began following the IPO closing on April 22, 2014. We have not included the impact of Class B common stock because these shares are entitled to an insignificant amount of economic participation. (a) Class A partnership units may be exchanged for Moelis & Company Class A common stock on a one‑for‑one basis, subject to applicable lock‑up, vesting and transfer restrictions. If all Class A partnership units were to be exchanged for Class A common stock, fully diluted Class A common stock outstanding would be 58,061,255 shares for the year ended December 31, 2016, 55,481,167 shares for the year ended December 31, 2015 and 54,250,854 shares for the year ended December 31, 2014. In computing the dilutive effect, if any, that the aforementioned exchange would have on net income (loss) per share, net income (loss) available to holders of Class A common stock would be adjusted due to the elimination of the noncontrolling interests in consolidated entities associated with the Group LP Class A partnership units (including any tax impact). For the year ended December 31, 2016, 2015 and 2014, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive. (b) During the years ended December 31, 2016, 2015 and 2014, certain shares of Moelis & Company’s Class A common stock assumed to be issued pursuant to certain RSUs as calculated using the treasury stock method were antidilutive and therefore have been excluded from the calculation of diluted net income (loss) per share attributable to Moelis & Company. The additional weighted average amount of RSUs that would have been included in this calculation if the effect were dilutive would have been 16 units for the year ended December 31, 2016, 1,380 units for the year ended December 31, 2015 and 2,315,512 units for the year ended December 31, 2014. Antidilution for the year ended December 31, 2014 is the result of the Company producing a loss for the year ended December 31, 2014. Additionally, during the year ended December 31, 2014, the additional weighted average amount of options that would have been included in this calculation if the effect were dilutive would have been 3,296,906 options. No options were excluded from this calculation for the years ended December 31, 2016 and 2015.

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