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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share We have two classes of common stock in the form of Class A Common Stock and Class B Common Stock. Our shares of Class A Common Stock are entitled to dividends, and shares of Class B Common Stock do not have rights to participate in dividends or undistributed earnings. However, shareholders of Class B Common Stock receive pro rata distributions from OpCo through their ownership of OpCo Units. We apply the two-class method for purposes of calculating earnings per share (“EPS”). The two-class method determines earnings per share of common stock and participating securities according to dividends or dividend equivalents declared during the period and each security's respective participation rights in undistributed earnings and losses. Net income (loss) per share - diluted excludes the effect of 3.3 million PSUs and 0.2 million of RSUs for the year ended December 31, 2024 that were not included in the computation of earnings per share because to do so would have been antidilutive to our net loss. Net income (loss) attributable to Crescent Energy is allocated to Class A Common Stock and Class B Common Stock based on the participation rights of each class to share in undistributed earnings and losses after giving effect to dividends declared during the period, if any. The following table sets forth the computation of basic and diluted net income (loss) per share:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands, except share and per share amounts)
Numerator: |  |  |  |  |
Net income (loss) | $ | (137,683) |  |  | $ | 321,991 |  |  | $ | 480,600 |
Less: net (income) loss attributable to noncontrolling interests | 1,215 |  |  | (472) |  |  | (2,669) |
Less: net (income) loss attributable to redeemable noncontrolling interests | 21,863 |  |  | (253,909) |  |  | (381,257) |
Net income (loss) attributable to Crescent Energy - basic | $ | (114,605) |  |  | $ | 67,610 |  |  | $ | 96,674 |
Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of RSUs | — |  |  | 46 |  |  | 25 |
Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of PSUs | — |  |  | 869 |  |  | 490 |
Net income (loss) attributable to Crescent Energy - diluted | $ | (114,605) |  |  | $ | 68,525 |  |  | $ | 97,189 |
Denominator: |  |  |  |  |
Weighted-average Class A Common Stock outstanding - basic | 130,715,482 |  |  | 66,597,580 |  |  | 43,865,176 |
Add: dilutive effect of RSUs | — |  |  | 39,999 |  |  | 11,867 |
Add: dilutive effect of PSUs | — |  |  | 764,643 |  |  | 234,780 |
Weighted-average Class A common stock outstanding – diluted | 130,715,482 |  |  | 67,402,222 |  |  | 44,111,823 |
Weighted-average Class B Stock outstanding - basic and diluted | 70,519,162 |  |  | 104,271,400 |  |  | 124,856,941 |
Net income (loss) per share: |  |  |  |  |
Class A Common Stock - basic | $ | (0.88) |  |  | $ | 1.02 |  |  | $ | 2.20 |
Class A Common Stock - diluted | $ | (0.88) |  |  | $ | 1.02 |  |  | $ | 2.20 |
Class B Common Stock - basic and diluted | $ | — |  |  | $ | — |  |  | $ | — |

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