EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

14.

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. For CoreCivic, diluted earnings per share is computed by dividing net income by the weighted average number of common shares after considering the additional dilution related to restricted stock-based awards, stock options, and Operating Partnership Units.

A reconciliation of the numerator and denominator of the basic earnings per share computation to the numerator and denominator of the diluted earnings per share computation is as follows (in thousands, except per share data):


	For the Years Ended December 31,
	2022		2021			2020
NUMERATOR
Basic:
Net income (loss) attributable to common stockholders	$	122,320	$	(51,896	)	$	54,157
Diluted:
Net income (loss) attributable to common stockholders	$	122,320	$	(51,896	)	$	54,157
Net income attributable to non-controlling interest		—		—			1,181
Diluted net income (loss) attributable to common stockholders	$	122,320	$	(51,896	)	$	55,338
DENOMINATOR
Basic:
Weighted average common shares outstanding		118,199		120,192			119,559
Diluted:
Weighted average common shares outstanding		118,199		120,192			119,559
Effect of dilutive securities:
Restricted stock-based awards		899		—			28
Non-controlling interest - Operating Partnership Units		—		—			1,342
Weighted average shares and assumed conversions		119,098		120,192			120,929
BASIC EARNINGS (LOSS) PER SHARE	$	1.03	$	(0.43	)	$	0.45
DILUTED EARNINGS (LOSS) PER SHARE	$	1.03	$	(0.43	)	$	0.45

For the year ended December 31, 2021, 0.5 million of restricted stock-based awards and 1.0 million of non-controlling interest - operating partnership units were excluded from the computation of diluted loss per share because they were anti-dilutive. In addition, approximately 0.1 million, 0.3 million, and 0.5 million of stock options were excluded from the computations of diluted earnings (loss) per share for the years ended December 31, 2022, 2021, and 2020, respectively, because they were anti-dilutive.