Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 24

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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)(UNAUDITED)(In thousands, except share data or as otherwise stated)

Note 12 — Income Taxes

The Company’s provision for income taxes was $49,816 and $31,772 for the three months ended December 31, 2024 and 2023, respectively, and $103,289 and $73,276 for the nine months ended December 31, 2024 and 2023, respectively. These represent effective tax rates of 34.3% and 31.0% for the three months ended December 31, 2024 and 2023, respectively, and 27.1% and 26.9% for the nine months ended December 31, 2024 and 2023, respectively.

Note 13 — Earnings Per Share 

The calculations of basic and diluted earnings per share attributable to holders of shares of common stock are presented below. The determination of weighted average shares of common stock outstanding includes both the Company's Class A common stock and Class B common stock. Please refer to Note 15 for further detail on our two classes of authorized Company common stock.Three Months Ended December 31,Nine Months Ended December 31,2024202320242023Numerator:Net income attributable Houlihan Lokey, Inc.$95,302 $70,803 $277,791 $199,224 Denominator:Weighted average shares of common stock outstanding — basic65,831,122 64,411,668 65,563,605 64,258,216 Weighted average number of incremental shares pertaining to unvested restricted stock and issuable in respect of unvested restricted stock units, as calculated using the treasury stock method2,929,837 3,474,633 2,994,720 3,638,086 Weighted average shares of common stock outstanding — diluted68,760,959 67,886,301 68,558,325 67,896,302 Basic earnings per share$1.45 $1.10 $4.24 $3.10 Diluted earnings per share$1.39 $1.04 $4.05 $2.93 

Note 14 — Employee Benefit Plans

Defined Contribution PlansThe Company sponsors a 401(k) defined contribution savings plan for its domestic employees and defined contribution retirement plans for its international employees. The Company contributed approximately $3,352 and $3,471