Kayne Anderson BDC, Inc. Earnings Per Share Disclosure
Note 9. Earnings Per Share
In accordance with the provisions of ASC Topic 260, Earnings per Share (“ASC 260”), basic earnings per share is computed by dividing earnings available to common stockholders by the weighted average number of shares outstanding during the period. Other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis. As of December 31, 2024, 2023 and 2022, there were no dilutive shares.
The following table sets forth the computation of basic and diluted earnings per share of common stock for the years ended December 31, 2024, 2023 and 2022.
| For the years ended | ||||||||||||
| December 31, 2024 | December 31, 2023 | December 31, 2022 | ||||||||||
| Net increase (decrease) in net assets resulting from operations | $ | 131,940 | $ | 77,075 | $ | 45,765 | ||||||
| Weighted average shares of common stock outstanding - basic and diluted | 63,762,377 | 39,250,232 | 27,184,302 | |||||||||
| Earnings (loss) per share of common stock - basic and diluted | $ | 2.07 | $ | 1.96 | $ | 1.68 | ||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 3, 2025 | Showing above |
| 2023 | Feb 29, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.