10. EARNINGS PER SHARE The Company has Class A and non-voting common stock outstanding. The non-voting common stock has the same economic rights as the Class A common stock; therefore, earnings per share is presented on a combined basis. Income of the Company has been allocated on a proportionate basis to the two common stock classes.
Basic earnings per share of Class A and non-voting common stock is computed by using the two-class method. Diluted earnings per share of Class A and non-voting common stock is computed using the more dilutive method of either the two-class method or the treasury stock and if-converted methods.
For the three months ended March 31, 2026 and 2025, the two-class method was the more dilutive method.
The following table presents the computation of basic and diluted earnings per common share: | | | | | | | | | | | | | | | | | | | Three months ended March 31, | | | | 2026 | | 2025 | | | | | | | | Basic earnings per share of Class A and non-voting common stock | | | | | | | | | | | Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 117,276 | | | $ | 21,857 | | | | | | | | | Dividends declared and paid on Class A and non-voting common stock | (304,339) | | | (244,588) | | | | | | | | | Distributions on unvested restricted units | (13,222) | | | (10,794) | | | | | | | | | | | | | | | | | | | Dividends in excess of earnings available to Class A and non-voting common stockholders | $ | (200,285) | | | $ | (233,525) | | | | | | | | | Basic weighted-average shares of Class A and non-voting common stock | 224,033,628 | | | 209,350,849 | | | | | | | | | Dividends in excess of earnings per share of Class A and non-voting common stock | $ | (0.89) | | | $ | (1.12) | | | | | | | | | Dividend declared and paid per Class A and non-voting common stock | 1.35 | | | 1.12 | | | | | | | | | Basic earnings per share of Class A and non-voting common stock | $ | 0.46 | | | $ | 0.00 | | | | | | | | | | | | | | | | | | | Diluted earnings per share of Class A and non-voting common stock | | | | | | | | | | | Net income attributable to Ares Management Corporation Class A and non-voting common stockholders | $ | 117,276 | | | $ | 21,857 | | | | | | | | | Distributions on unvested restricted units | (13,222) | | | (10,794) | | | | | | | | | | | | | | | | | | | Net income available to Class A and non-voting common stockholders | $ | 104,054 | | | $ | 11,063 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Diluted weighted-average shares of Class A and non-voting common stock | 224,033,628 | | | 209,350,849 | | | | | | | | | Diluted earnings per share of Class A and non-voting common stock | $ | 0.46 | | | $ | 0.00 | | | | | | | |
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