| Schedule of Earnings Per Share, Basic and Diluted |
The following table reflects the allocation of net income to common shareholders and EPS computations for the periods indicated based on a weighted average number of common stock outstanding for the period: | | | | | | | | | | | | | | | | |
| For the Three Months Ended June 30, | | For the Six Months Ended June 30, | (in thousands, except per share data) | 2018 | | 2017 |
| 2018 |
| 2017 | Net income attributable to Class A Common Stock | $ | 63,541 |
|
| $ | 20,762 |
|
| $ | 129,631 |
|
| $ | 30,585 |
| Add: Income from conversion of Class C Common Stock | — |
|
| 1,477 |
|
| — |
|
| 1,995 |
| Adjusted net income attributable to Class A Common Stock | 63,541 |
| | 22,239 |
| | 129,631 |
| | 32,580 |
| | | | | | | | | Basic net earnings per share of Class A Common Stock | $ | 0.24 |
| | $ | 0.09 |
| | $ | 0.49 |
| | $ | 0.14 |
| Diluted net earnings per share of Class A Common Stock | $ | 0.24 |
| | $ | 0.09 |
| | $ | 0.49 |
| | $ | 0.14 |
| | | | | | | | | Basic weighted average shares of Class A Common Stock outstanding | 263,757 |
| | 223,623 |
| | 262,547 |
| | 212,759 |
| Add: Dilutive effects of equity awards | 3,249 |
| | 925 |
| | 3,554 |
| | 2,046 |
| Add: Dilutive effects of conversion | — |
| | 19,156 |
| | — |
| | 19,156 |
| Diluted weighted average shares of Class A Common Stock outstanding | 267,006 |
| | 243,704 |
| | 266,101 |
| | 233,961 |
|
|
| Summary of Shares Excluded From Diluted Earnings Per Share Calculation |
For the three and six months ended June 30, 2018 and 2017, the following shares were excluded from the diluted earnings per share calculation as their impacts were anti-dilutive: | | | | | | | | | | | | |
| For the Three Months Ended June 30, | | For the Six Months Ended June 30, | (in thousands) | 2018 | | 2017 | | 2018 | | 2017 | Out-of-the-money stock options | 643 |
| | 1,498 |
| | 407 |
| | 818 |
| Weighted average shares of Class C Common Stock | 12,314 |
| | — |
| | 13,497 |
| | — |
| Performance stock units | 155 |
| | — |
| | 77 |
| | — |
|
|