v3.25.2
Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is calculated by dividing net income attributable to Red Rock by the weighted-average number of shares of Class A common stock outstanding during the period. The calculation of diluted earnings per share gives effect to all potentially dilutive shares, including shares issuable pursuant to outstanding stock options and nonvested restricted shares of Class A common stock, based on the application of the treasury stock method, and outstanding Class B common stock that is exchangeable, along with an equal number of LLC Units, for Class A common stock, based on the application of the if-converted method. Dilutive shares included in the calculation of diluted earnings per share for the three and six months ended June 30, 2025 represented outstanding shares of Class B common stock, nonvested restricted shares of Class A common stock and outstanding stock options. For the three months ended June 30, 2024, dilutive shares included in the calculation of diluted earnings per share represented nonvested restricted shares of Class A common stock and outstanding stock options. For the six months ended June 30, 2024, dilutive shares included in the calculation of diluted earnings per share represented outstanding shares of Class B common stock, nonvested restricted shares of Class A common stock and outstanding stock options. All other potentially dilutive securities have been excluded from the calculation of diluted earnings per share because their inclusion would have been antidilutive.
A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings per share is presented below (amounts in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Net income$108,253 $69,810 $194,203 $148,181 
Less: net income attributable to noncontrolling interests(51,849)(34,134)(93,050)(69,670)
Net income attributable to Red Rock, basic56,404 35,676 101,153 78,511 
Effect of dilutive securities40,961 437 73,509 55,039 
Net income attributable to Red Rock, diluted$97,365 $36,113 $174,662 $133,550 
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Weighted average shares of Class A common stock outstanding, basic58,960 59,069 59,081 58,935 
Effect of dilutive securities43,770 1,679 43,979 44,785 
Weighted average shares of Class A common stock outstanding, diluted102,730 60,748 103,060 103,720 
The calculation of diluted earnings per share of Class A common stock excluded the following potentially dilutive securities that were outstanding at June 30, 2025 and 2024, respectively, because their inclusion would have been antidilutive (amounts in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Shares of Class B common stock and LLC Units exchangeable for Class A common stock— 45,986 — — 
Stock options3,007 1,878 3,007 2,122 
Unvested restricted shares of Class A common stock288 87 489 87 
Shares of Class B common stock are not entitled to share in the earnings of the Company and are not participating securities. Accordingly, earnings per share of Class B common stock under the two-class method has not been presented.