Earnings per Share

Basic earnings per share is calculated by dividing net income attributable to the Company’s Class A stockholders for the period by the weighted average number of Class A common shares outstanding for the period excluding non-vested restricted stock awards. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including: public and private placement warrants, restricted stock awards, restricted stock units, and stock options.

Below are basic and diluted net income per share:



	Three Months Ended June 30, 2018		Three Months Ended June 30, 2017		Six Months Ended June 30, 2018		Six Months Ended June 30, 2017

Numerator:
Net income attributable to Class A stockholders (in thousands)	$	19,283	$	18,830	$	43,123	$	34,662
Denominator:
Weighted-average Class A shares outstanding - basic	99,939,642		98,943,690		99,916,161		98,600,075
Dilutive effect of warrants	4,668,452		8,144,735		4,856,923		7,371,050
Dilutive effect of restricted stock and restricted stock units	165,000		95,916		138,390		33,773
Weighted-average shares outstanding - diluted	104,773,094		107,184,341		104,911,474		106,004,898

Net income per Class A share - basic	$	0.19	$	0.19	$	0.43	$	0.35

Net income per Class A share - diluted	$	0.18	$	0.18	$	0.41	$	0.33

For the three and six months ended June 30, 2018 and 2017, stock options were excluded from the computation of diluted net income per share because the assumed proceeds from the awards’ exercise was greater than the average market price of the common shares.