Income (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Income (Loss) Per Share

Income (Loss) Per Share

3. INCOME (LOSS) PER SHARE:

The weighted average number of common shares outstanding is calculated as follows (in thousands):

	Three Months Ended
	March 31,
	2022	2021
Weighted average shares outstanding - basic	55,086	54,995
Effect of dilutive stock-based compensation	—	—
Weighted average shares outstanding - diluted	55,086	54,995

For the three months ended March 31, 2022 and 2021, the effect of dilutive stock-based compensation was the equivalent of 0.3 million and 0.2 million shares of common stock outstanding. Because the Company had a loss available to common stockholders in the three months ended March 31, 2022 and 2021, these incremental shares were excluded from the computation of dilutive earnings per share as the effect of their inclusion would have been anti-dilutive.

The operating partnership units (“OP Units”) held by the noncontrolling interest holders have been excluded from the denominator of the diluted loss per share calculation for the three months ended March 31, 2022 and 2021 as there would be no effect on the calculation of diluted loss per share because the loss attributable to the OP Units held by the noncontrolling interest holders would also be subtracted to derive net loss available to common stockholders.