XML 24 R11.htm IDEA: XBRL DOCUMENT
v3.22.2

Earnings Per Share | 6 Months Ended
--- | ---
Jun. 30, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | 5. Earnings Per Share The following table sets forth the computations of basic and diluted income per common share:
| Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2022
Earnings Per Share - Basic |  |  |
Numerator: |  |  |
Net income | $ | 24,519 |  |  | $ | 58,141 |
Net income attributable to Class C shareholders | (14,020) |  |  | (31,741) |
Net loss attributable to other equity interest holders | (36) |  |  | (3,262) |
Net income attributable to noncontrolling and redeemable noncontrolling interests | (14,056) |  |  | (35,003) |
Net income attributable to Stagwell Inc. common shareholders | $ | 10,463 |  |  | $ | 23,138 |
Denominator: |  |  |
Basic - Weighted Average number of common shares outstanding | 126,425 |  |  | 124,367 |
Earnings Per Share - Basic | $ | 0.08 |  |  | $ | 0.19 |
Earnings Per Share - Diluted |  |  |
Numerator: |  |  |
Net income attributable to Stagwell Inc. common shareholders | $ | 10,463 |  |  | $ | 23,138 |
Net income attributable to Class C shareholders | 14,020 |  |  | 31,741 |
| $ | 24,483 |  |  | $ | 54,879 |
Denominator: |  |  |
Basic - Weighted Average number of common shares outstanding | 126,425 |  |  | 124,367 |
Dilutive shares: |  |  |
Stock appreciation rights | 1,966 |  |  | 1,941 |
Restricted share and restricted unit awards | 3,212 |  |  | 4,959 |
Class C shares | 164,811 |  |  | 167,576 |
Diluted - Weighted average number of common shares outstanding | 296,414 |  |  | 298,843 |
Earnings Per Share - Diluted | $ | 0.08 |  |  | $ | 0.18 |
The combination of MDC and SMG, completed on August 2, 2021, was treated as a reverse acquisition for financial reporting purposes. SMG was treated as the accounting acquirer and MDC as the accounting acquiree. Therefore, under applicable accounting principles, the historical financial results of SMG prior to August 2, 2021 are considered our historical financial results. Accordingly, historical information presented in this Form 10-Q for events occurring or periods ending before August 2, 2021 does not reflect the impact of the Transactions or the financial results of MDC and may not be comparable with historical information for events occurring or periods ending on or after August 2, 2021. SMG’s equity structure, prior to the combination with MDC, was a non-unitized single member limited liability company, resulting in all components of equity attributable to the member being reported within Members’ Capital. Given that SMG was a non-unitized single member limited liability company, net income (loss) prior to the combination is not applicable for purposes of calculating earnings per share. Therefore, the earnings per share calculation in the table above includes only the three and six months ended June 30, 2022 and does not include the corresponding prior year period. Restricted stock awards of 1,005 as of June 30, 2022 are excluded from the computation of diluted income (loss) per common share because the performance contingency necessary for vesting had not been met as of the reporting date.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration