XML 67 R22.htm IDEA: XBRL DOCUMENT
v3.3.0.814

EARNINGS PER SHARE | 9 Months Ended
--- | ---
Sep. 30, 2015
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 14. EARNINGS PER SHARE The Company’s net income and weighted average shares outstanding for the three and nine months ended September 30, 2015 and the period February 11, 2014 through September 30, 2014 consist of the following:
($ in thousands except share amounts) |  | For the Three Months Ended September 30, 2015 |  | For the Three Months Ended September 30, 2014 |  | For the Nine Months Ended September 30, 2015 |  | For the Period February 11, 2014 through September 30, 2014
Basic Net income available for Class A common shareholders |  | $ | 3,313 |  |  | $ | 14,656 |  |  | $ | 46,698 |  |  | $ | 39,813 |
Diluted Net income available for Class A common shareholders |  | $ | 3,313 |  |  | $ | 27,433 |  |  | $ | 46,698 |  |  | $ | 72,699 |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | 52,922,487 |  |  | 49,394,399 |  |  | 51,091,977 |  |  | 49,101,904 |
Diluted |  | 53,348,858 |  |  | 97,918,235 |  |  | 51,388,851 |  |  | 97,750,385 |
Net income per share information is not applicable for reporting periods prior to February 11, 2014. The calculation of basic and diluted net income per share amounts for the three and nine months ended September 30, 2015, the three months ended September 30, 2014 and the period February 11, 2014 through September 30, 2014 are described and presented below. Basic Net Income per Share Numerator: utilizes net income available for Class A common shareholders for the three and nine months ended September 30, 2015, the three months ended September 30, 2014 and the period February 11, 2014 through September 30, 2014, respectively. Denominator: utilizes the weighted average shares of Class A common stock for the three and nine months ended September 30, 2015, the three months ended September 30, 2014 and the period February 11, 2014 through September 30, 2014, respectively. Diluted Net Income per Share Numerator: utilizes net income available for Class A common shareholders for the three and nine months ended September 30, 2015, the three months ended September 30, 2014 and the period February 11, 2014 through September 30, 2014, respectively, for the basic net income per share calculation described above, adding net income amounts attributable to the noncontrolling interest in the Operating Partnership using the as-if converted method for the Class B common shareholders while adjusting for additional corporate income tax expense for the described net income add-back. Denominator: utilizes the weighted average number of shares of Class A common stock for the three and nine months ended September 30, 2015, the three months ended September 30, 2014 and the period February 11, 2014 through September 30, 2014, respectively, for the basic net income per share calculation described above adding the dilutive effect of shares issuable relating to Operating Partnership exchangeable interests and the incremental shares of unvested Class A restricted stock using the treasury method.
(In thousands except share amounts) |  | For the Three Months Ended September 30, 2015 |  | For the Three Months Ended September 30, 2014 |  | For the Nine Months Ended September 30, 2015 |  | For the Period February 11, 2014 through September 30, 2014
Basic Net Income Per Share of Class A Common Stock |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net income attributable to Class A common shareholders |  | $ | 3,313 |  |  | $ | 14,656 |  |  | $ | 46,698 |  |  | $ | 39,813 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of shares of Class A common stock outstanding |  | 52,922,487 |  |  | 49,394,399 |  |  | 51,091,977 |  |  | 49,101,904 |
Basic net income per share of Class A common stock |  | $ | 0.06 |  |  | $ | 0.30 |  |  | $ | 0.91 |  |  | $ | 0.81 |
Diluted Net Income Per Share of Class A Common Stock |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |
Net income attributable to Class A common shareholders |  | $ | 3,313 |  |  | $ | 14,656 |  |  | $ | 46,698 |  |  | $ | 39,813 |
Add (deduct) - dilutive effect of: |  |  |  |  |  |  |  |  |  |  |  |
Amounts attributable to operating partnership’s share of Ladder Capital Corp net income (loss) |  | — |  |  | 22,827 |  |  | — |  |  | 59,086 |
Additional corporate tax (expense) benefit |  | — |  |  | (10,050 | ) |  | — |  |  | (26,200 | )
Diluted net income attributable to Class A common shareholders |  | $ | 3,313 |  |  | $ | 27,433 |  |  | $ | 46,698 |  |  | $ | 72,699 |
Denominator: |  |  |  |  |  |  |  |  |  |
Basic weighted average number of shares of Class A common stock outstanding |  | 52,922,487 |  |  | 49,394,399 |  |  | 51,091,977 |  |  | 49,101,904 |
Add - dilutive effect of: |  |  |  |  |  |  |  |  |  |  |  |
Shares issuable relating to converted Class B common shareholders |  | — |  |  | 48,046,807 |  |  | — |  |  | 48,341,572 |
Incremental shares of unvested Class A restricted stock |  | 426,371 |  |  | 477,029 |  |  | 296,874 |  |  | 306,909 |
Diluted weighted average number of shares of Class A common stock outstanding |  | 53,348,858 |  |  | 97,918,235 |  |  | 51,388,851 |  |  | 97,750,385 |
Diluted net income per share of Class A common stock |  | $ | 0.06 |  |  | $ | 0.28 |  |  | $ | 0.91 |  |  | $ | 0.74 |
The shares of Class B common stock do not share in the earnings of Ladder Capital Corp and are, therefore, not participating securities. Accordingly, basic and diluted net income per share of Class B common stock has not been presented, although the assumed conversion of Class B common stock has been included in the presented diluted net income per share of Class A common stock.

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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration