Net Earnings Per Share

Basic net income per share of Class A Common Stock is computed by dividing net income attributable to the Company's earnings by the weighted average number of shares of Class A Common Stock outstanding during the period. The weighted average number of shares of Class A Common Stock outstanding used in computing basic net income per share includes fully vested restricted stock units awarded to directors that are entitled to participate in distributions to common shareholders through receipt of additional units of equivalent value to the dividends paid to Class A Common Stock holders.

Diluted net income per share of Class A Common Stock is computed similarly to basic net income per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury method, if dilutive. The Company’s restricted LLC Units and non-qualified stock option are considered common stock equivalents for this purpose. The number of additional shares of Class A Common Stock related to these common stock equivalents and stock options are calculated using the treasury stock method.

Basic and diluted net (loss) income per share of Class A Common Stock has been computed as follows (in thousands, except share and per share amounts)



	Three Months Ended					Six Months Ended
	December 31, 2017			December 31, 2016		December 31, 2017			December 31, 2016
Basic:
Net (loss) income attributable to Malibu Boats, Inc.	$	(6,383	)	$	6,901	$	(498	)	$	10,681
Shares used in computing basic net (loss) income per share:
Weighted-average Class A Common Stock	20,263,999			17,648,208		19,644,918			17,634,530
Weighted-average participating restricted stock units convertible into Class A Common Stock	165,628			137,914		159,274			125,726
Basic weighted-average shares outstanding	20,429,627			17,786,122		19,804,192			17,760,256
Basic net (loss) income per share	$	(0.31	)	$	0.39	$	(0.03	)	$	0.60

Diluted:
Net (loss) income attributable to Malibu Boats, Inc.	$	(6,383	)	$	6,901	$	(498	)	$	10,681
Shares used in computing diluted net (loss) income per share:
Basic weighted-average shares outstanding	20,429,627			17,786,122		19,804,192			17,760,256
Restricted stock units granted to employees	—			56,016		—			57,586
Diluted weighted-average shares outstanding 1	20,429,627			17,842,138		19,804,192			17,817,842
Diluted net (loss) income per share	$	(0.31	)	$	0.39	$	(0.03	)	$	0.60

¹The Company excluded 1,274,484 and 1,423,049 potentially dilutive shares from the calculation of diluted net (loss) income per share for the three months ended December 31, 2017 and 2016, as these shares would have been antidilutive.

The shares of Class B Common Stock do not share in the earnings or losses of Malibu Boats, Inc. and are therefore not included in the calculation. Accordingly, basic and diluted net earnings per share of Class B Common Stock has not been presented.