v3.22.4
Earnings per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Share 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. In computing dilutive 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, RSUs, stock options and ESPP awards.
Below are basic and diluted earnings per share:
Year Ended December 31, 2022Year Ended
December 31,
2021		Year Ended
December 31,
2020
Numerator: (in thousands)
Net income attributable to Class A stockholders - basic$164,195 $119,299 $104,676 
Impact of change in fair value of warrant liabilities— (566)(39,941)
Numerator for diluted earnings per share$164,195 $118,733 $64,735 
Denominator:
Weighted-average Class A shares outstanding - basic136,768,310 131,571,733 124,927,535 
Dilutive effect of warrants— 5,841,062 2,525,863 
Dilutive effect of RSUs631,800 588,250 270,090 
Dilutive effect of stock options and ESPP awards524,361 197,131 — 
Weighted-average shares outstanding - diluted137,924,471 138,198,176 127,723,488 
Earnings per Class A share - basic$1.20 $0.91 $0.84 
Earnings per Class A share - dilutive$1.19 $0.86 $0.51 
For warrants that are liability-classified, during periods when the impact is dilutive, the Company assumes share settlement of the instruments as of the beginning of the reporting period and adjusts the numerator to remove the change in fair value of the warrant liability and adjusts the denominator to include the dilutive shares calculated using the treasury stock method.
Stock options and ESPP shares that were excluded from the computation of diluted weighted average shares, because their effect was anti-dilutive, were 130, 2,010 and 477,923 for the years ended December 31, 2022, 2021 and 2020, respectively.