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Earnings Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share
Note 13 - Earnings Per Share
For the periods in which we had multiple classes of stock participating in earnings, we use the two-class method in calculating earnings per share. Basic earnings per share of Class A and Class C common stock is computed by dividing net income attributable to ZoomInfo Technologies Inc. by the weighted-average number of shares of Class A and Class C common stock outstanding during the period. Diluted earnings per share of Class A and Class C common stock is computed by dividing net income attributable to ZoomInfo Technologies Inc., adjusted for the assumed exchange of all potentially dilutive instruments for Class A common stock, by the weighted-average number of shares of Class A and Class C common stock outstanding, adjusted to give effect to potentially dilutive elements. As of the fourth quarter of 2021, as a result of the Holding Company Reorganization discussed in Note 1 - Organization and Background, the only remaining class of common stock issued and outstanding was the Class A common stock, and as such, the two-class method is not presented for subsequent periods. As previously discussed, in May 2022, following approval by the Company’s stockholders, the Company further amended and restated its Amended and Restated Certificate of Incorporation to eliminate the multiple classes of common stock and to rename the Company’s Class A common stock to “Common Stock.”
The following table sets forth reconciliations of the numerators and denominators used (in millions) to compute basic and diluted earnings (loss) per share of Class A and Class C (as applicable) common stock for the three and nine months ended September 30, 2022 and 2021.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Numerator:
Net income (loss)$17.9 $(40.9)$40.0 $(50.3)
Add: Net (income) loss attributable to noncontrolling interests— 0.3 — 22.2 
Net income (loss) attributable to ZoomInfo Technologies Inc.$17.9 $(40.6)$40.0 $(28.1)
The following tables set forth the computation of basic and diluted net income per share of Class A and Class C (as applicable) common stock (in millions, except share and per share amounts):
Three Months Ended September 30, 2022Nine Months Ended September 30, 2022
Common StockCommon Stock
Basic net income (loss) per share attributable to common stockholders
Numerator:
Allocation of net income (loss) attributable to ZoomInfo Technologies Inc.$17.9 $40.0 
Denominator:
Weighted average number of shares of Common Stock outstanding401,961,947 401,093,021 
Basic net income (loss) per share attributable to common stockholders$0.04 $0.10 
Diluted net income (loss) per share attributable to common stockholders
Numerator:
Allocation of undistributed earnings$17.9 $40.0 
Denominator:
Number of shares used in basic computation401,961,947 401,093,021 
Add: weighted-average effect of dilutive securities exchangeable for Common Stock:
Restricted Stock Awards1,208,236 1,932,054 
Exercise of Common Stock Options178,332 207,917 
Employee Stock Purchase Plan
122,794 44,189 
Weighted average shares of Common Stock outstanding used to calculate diluted net income (loss) per share403,471,309 403,277,181 
Diluted net income (loss) per share attributable to common stockholders$0.04 $0.10 
Three Months Ended September 30, 2021Nine Months Ended September 30, 2021
Class AClass CClass AClass C
Basic net income (loss) per share attributable to common stockholders
Numerator:
Allocation of net income (loss) attributable to ZoomInfo Technologies Inc.$(33.2)$(7.4)$(18.6)$(9.5)
Denominator:
Weighted average number of shares of Class A and Class C common stock outstanding215,012,710 48,273,078 139,840,047 71,058,293 
Basic net income (loss) per share attributable to common stockholders$(0.15)$(0.15)$(0.13)$(0.13)
Diluted net income (loss) per share attributable to common stockholders
Numerator:
Undistributed earnings for basic computation$(33.2)$(7.4)$(18.6)$(9.5)
Increase in earnings attributable to common shareholders upon conversion of potentially dilutive instruments(0.1)— — — 
Reallocation of undistributed earnings as a result of conversion of Class C to Class A shares(7.4)— (9.5)— 
Allocation of undistributed earnings$(40.7)$(7.4)$(28.1)$(9.5)
Denominator:
Number of shares used in basic computation215,012,710 48,273,078 139,840,047 71,058,293 
Add: weighted-average effect of dilutive securities exchangeable for Class A common stock:
HSKB II Class 1 Units121,059 — — — 
HSKB II Phantom Units592,801 — — — 
Conversion of Class C to Class A common shares outstanding48,273,078 — 71,058,293 — 
Weighted average shares of Class A and Class C common stock outstanding used to calculate diluted net income (loss) per share263,999,648 48,273,078 210,898,340 71,058,293 
Diluted net income (loss) per share attributable to common stockholders$(0.15)$(0.15)$(0.13)$(0.13)
Shares of the Company’s Class B common stock did not participate in the earnings or losses of ZoomInfo Technologies Inc. and were therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company's Class A common stock were renamed "Common Stock" effective May 23, 2022.
The following weighted-average potentially dilutive securities were evaluated under the treasury stock method for potentially dilutive effects and have been excluded from diluted net loss per share in the periods presented due to their anti-dilutive effect:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
OpCo Units— 122,610,642 — 170,523,418 
Class P Units— 9,047,255 — 10,241,645 
HSKB I Class 1 Units— 4,801,519 — 6,653,534 
HSKB II Class 1 Units— — — 301,339 
HSKB II Phantom Units— — — 1,082,296 
HoldCo Units— 700,241 — 1,184,900 
Restricted Stock Awards— 582,263 — 194,088 
Restricted Stock Units9,415,559 454,718 7,471,569 324,043 
LTIP Units— 101,666 — 41,181 
Exercise of Class A Common Stock Options— 308,593 — 294,179 
Total anti-dilutive securities9,415,559 138,606,897 7,471,569 190,840,623