EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

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 and stock options.

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 Three Months Ended March 31,
	2023		2022
NUMERATOR
Basic:
Net income	$	12,400	$	19,003
Diluted:
Net income	$	12,400	$	19,003
DENOMINATOR
Basic:
Weighted average common shares outstanding		114,533		120,796
Diluted:
Weighted average common shares outstanding		114,533		120,796
Effect of dilutive securities:
Restricted stock-based awards		937		624
Weighted average shares and assumed conversions		115,470		121,420
BASIC EARNINGS PER SHARE	$	0.11	$	0.16
DILUTED EARNINGS PER SHARE	$	0.11	$	0.16

Approximately 0.3 million stock options were excluded from the computation of diluted earnings per share for the three months ended March 31, 2022 because they were anti-dilutive.