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Earnings per Share ("EPS") | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings per Share ("EPS") | Earnings per Share ("EPS") Basic EPS of Class A common stock is computed by dividing net income attributable to the Company by the weighted average number of shares of Class A common stock outstanding during the period. Diluted EPS of Class A common stock is computed similarly to basic EPS except the weighted average shares outstanding are increased to include additional shares from the exchange of Class B common stock under the if-converted method and the assumed exercise of any common stock equivalents using the treasury stock method, if dilutive. The Company’s restricted and performance stock units are considered common stock equivalents for this purpose. Basic and diluted EPS of Class A common stock have been computed as follows (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Numerator: |  |  |  |  |  |  |
Net income attributable to Shoals Technologies Group, Inc. - basic | $ | 18,924 |  |  | $ | 4,402 |  |  | $ | 33,220 |  |  | $ | 7,042 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Reallocation of net income attributable to non-controlling interests from the assumed exchange of Class B common stock | — |  |  | — |  |  | — |  |  | — |
Net income attributable to Shoals Technologies Group, Inc. - diluted | $ | 18,924 |  |  | $ | 4,402 |  |  | $ | 33,220 |  |  | $ | 7,042 |
Denominator: |  |  |  |  |  |  |
Weighted average shares of Class A common stock outstanding - basic | 169,887 |  |  | 112,489 |  |  | 158,213 |  |  | 112,350 |
Effect of dilutive securities: |  |  |  |  |  |  |
Restricted / performance stock units | 354 |  |  | 127 |  |  | 481 |  |  | 78 |
Class B common stock | — |  |  | — |  |  | — |  |  | — |
Weighted average shares of Class A common stock outstanding - diluted | 170,241 |  |  | 112,616 |  |  | 158,694 |  |  | 112,428 |
Earnings per share of Class A common stock - basic | $ | 0.11 |  |  | $ | 0.04 |  |  | $ | 0.21 |  |  | $ | 0.06 |
Earnings per share of Class A common stock - diluted | $ | 0.11 |  |  | $ | 0.04 |  |  | $ | 0.21 |  |  | $ | 0.06 |
For the six months ended June 30, 2023 and three and six months ended June 30, 2022, the reallocation of net income attributable to non-controlling interests from the assumed exchange of Class B common stock has been excluded along with the dilutive effect of Class B common stock to the weighted average shares of Class A common stock outstanding – dilutive, as they were antidilutive. There were no shares of Class B common stock outstanding during the three months ended June 30, 2023.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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