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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12. Earnings Per Share The computation of basic and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 were as follows:
| For the Years Ended December 31,
Basic and Diluted Earnings Per Share | 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |
Net income attributable to APAM | $ | 222,289 |  |  | $ | 206,755 |  |  | $ | 336,516 |
Less: Allocation to participating securities | 19,880 |  |  | 22,801 |  |  | 31,430 |
Net income available to common stockholders | $ | 202,409 |  |  | $ | 183,954 |  |  | $ | 305,086 |
Denominator: |  |  |  |  |
Basic weighted average shares outstanding | 63,451,932 |  |  | 62,475,960 |  |  | 59,866,790 |
Dilutive effect of nonparticipating equity awards | 34,547 |  |  | 22,549 |  |  | 14,249 |
Diluted weighted average shares outstanding | 63,486,479 |  |  | 62,498,509 |  |  | 59,881,039 |
Earnings per share - Basic | $ | 3.19 |  |  | $ | 2.94 |  |  | $ | 5.10 |
Earnings per share - Diluted | $ | 3.19 |  |  | $ | 2.94 |  |  | $ | 5.09 |
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. The Holdings limited partnership units are anti-dilutive primarily due to the impact of public company expenses. Unvested restricted share-based awards with non-forfeitable dividend rights during the vesting period 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 | 2023 |  | 2022 |  | 2021
Holdings limited partnership units | 11,505,766 |  |  | 12,022,633 |  |  | 14,167,538 |
Unvested restricted share-based awards | 5,572,690 |  |  | 5,601,756 |  |  | 5,410,221 |
Total | 17,078,456 |  |  | 17,624,389 |  |  | 19,577,759 |

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