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Earnings Per Share
 12 Months Ended
Dec. 31, 2024
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, 2024, 2023 and 2022 were as follows:
 For the Years Ended December 31,
Basic and Diluted Earnings Per Share202420232022
Numerator:
Net income attributable to APAM$259,748 $222,289 $206,755 
Less: Allocation to participating securities22,303 19,880 22,801 
Net income available to common stockholders$237,445 $202,409 $183,954 
Denominator:
Basic weighted average shares outstanding64,900,228 63,451,932 62,475,960 
Dilutive effect of nonparticipating equity awards38,955 34,547 22,549 
Diluted weighted average shares outstanding64,939,183 63,486,479 62,498,509 
Earnings per share - Basic$3.66 $3.19 $2.94 
Earnings per share - Diluted$3.66 $3.19 $2.94 
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 Outstanding202420232022
Holdings limited partnership units10,502,502 11,505,766 12,022,633 
Unvested restricted share-based awards5,476,324 5,572,690 5,601,756 
Total15,978,826 17,078,456 17,624,389