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Earnings Per Share | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12. Earnings Per Share The computation of basic and diluted earnings per share under the two-class method for the years ended December 31, 2019, 2018 and 2017 were as follows:
| For the Years Ended December 31, |  |  |  |
Basic and Diluted Earnings Per Share | 2019 |  | 2018 |  | 2017
Numerator: |  |  |  |  |
Net income attributable to APAM | $ | 156,536 |  |  | $ | 158,309 |  |  | $ | 49,599 |
Less: Allocation to participating securities | 21,154 |  |  | 19,447 |  |  | 16,026 |
Net income available to common stockholders | $ | 135,382 |  |  | $ | 138,862 |  |  | $ | 33,573 |
Denominator: |  |  |  |  |
Weighted average shares outstanding | 51,127,929 |  |  | 48,862,435 |  |  | 44,647,318 |
Earnings per share | $ | 2.65 |  |  | $ | 2.84 |  |  | $ | 0.75 |
Allocation to participating securities in the table above primarily represents dividends paid to holders of unvested restricted share-based awards, which reduces net income available to common stockholders. There were no dilutive securities outstanding during the years ended December 31, 2019, 2018 and 2017. The Holdings limited partnership units are anti-dilutive primarily due to the impact of public company expenses. Unvested restricted share-based awards are considered participating securities and are therefore anti-dilutive. The following table summarizes the weighted-average shares outstanding that are excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive:
| For the Years Ended December 31, |  |  |  |
Anti-Dilutive Weighted Average Shares Outstanding | 2019 |  | 2018 |  | 2017
Holdings limited partnership units | 21,827,809 |  |  | 23,351,440 |  |  | 26,837,118 |
Unvested restricted share-based awards | 5,026,357 |  |  | 4,813,895 |  |  | 4,153,260 |
Total | 26,854,166 |  |  | 28,165,335 |  |  | 30,990,378 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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