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				Nine Months Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017

Numerator:
Net income attributable to Class A stockholders (in thousands)	$	7,941	$	9,549	$	51,064	$	44,211
Denominator:
Weighted-average Class A shares outstanding - basic	99,958,244		99,557,183		99,931,167		98,920,808
Dilutive effect of warrants	2,804,132		5,717,416		4,203,936		6,844,613
Dilutive effect of restricted stock and restricted stock units	200,704		143,967		164,148		75,252
Weighted-average shares outstanding - diluted	102,963,080		105,418,566		104,299,251		105,840,673

Net income per Class A share - basic	$	0.08	$	0.10	$	0.51	$	0.45

Net income per Class A share - diluted	$	0.08	$	0.09	$	0.49	$	0.42

For the three and nine months ended September 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.