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Earnings Per Share | 9 Months Ended
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Sep. 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 for the three and nine months ended September 2022:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30,
| 2022 |  |  |  | 2022 |  |
Earnings Per Share - Basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income | $ | 35,274 |  |  |  |  | $ | 93,415 |  |  |
Net income attributable to Class C shareholders | (19,286) |  |  |  |  | (51,027) |  |  |
Net loss attributable to other equity interest holders | (5,379) |  |  |  |  | (8,641) |  |  |
Net income attributable to noncontrolling and redeemable noncontrolling interests | (24,665) |  |  |  |  | (59,668) |  |  |
Net income attributable to Stagwell Inc. common shareholders | $ | 10,609 |  |  |  |  | $ | 33,747 |  |  |
Denominator: |  |  |  |  |  |  |
Weighted Average number of common shares outstanding | 125,384 |  |  |  |  | 124,710 |  |  |
Earnings Per Share - Basic | $ | 0.08 |  |  |  |  | $ | 0.27 |  |  |
Earnings Per Share - Diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income attributable to Stagwell Inc. common shareholders | $ | 10,609 |  |  |  |  | $ | 33,747 |  |  |
Denominator: |  |  |  |  |  |  |
Basic - Weighted Average number of common shares outstanding | 125,384 |  |  |  |  | 124,710 |  |  |
Dilutive shares: |  |  |  |  |  |  |
Stock appreciation rights | 1,837 |  |  |  |  | 1,885 |  |  |
Restricted share and restricted unit awards | 3,277 |  |  |  |  | 4,955 |  |  |
Diluted - Weighted average number of common shares outstanding | 130,498 |  |  |  |  | 131,550 |  |  |
Earnings Per Share - Diluted | $ | 0.08 |  |  |  |  | $ | 0.26 |  |  |
Restricted stock awards of 2,340 as of September 30, 2022 are excluded from the computation of diluted income per common share because the performance contingency necessary for vesting had not been met as of the reporting date. The following table sets forth the computations of basic and diluted income per common share for the three and nine months ended September 2021:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2021
Numerator: |  |  |
Net loss attributable to Stagwell Inc. common shareholders | $ | (4,545) |  |  | $ | (4,545) |
Denominator: |  |  |
Weighted average number of common shares outstanding | 76,106 |  |  | 76,106 |
Loss Per Share - Basic & Diluted | $ (0.06) |  | $ (0.06)
Anti-dilutive: |  |  |
Class C shares | 179,970 |  |  | 179,970 |
Stock Appreciation Rights and Restricted Awards | 6,596 |  |  | 6,596 |
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 net income (loss) in the table above includes the income or loss for the period beginning on the acquisition date through the end of the respective reporting period and as such will not reconcile to the respective amounts presented within the Unaudited Condensed Consolidated Statements of Operations.

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