EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

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 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 Years Ended December 31,
	2023		2022		2021
NUMERATOR
Basic:
Net income (loss)	$	67,590	$	122,320	$	(51,896	)
Diluted:
Net income (loss)	$	67,590	$	122,320	$	(51,896	)
DENOMINATOR
Basic:
Weighted average common shares outstanding		113,798		118,199		120,192
Diluted:
Weighted average common shares outstanding		113,798		118,199		120,192
Effect of dilutive securities:
Restricted stock-based awards		852		899		—
Weighted average shares and assumed conversions		114,650		119,098		120,192
BASIC EARNINGS (LOSS) PER SHARE	$	0.59	$	1.03	$	(0.43	)
DILUTED EARNINGS (LOSS) PER SHARE	$	0.59	$	1.03	$	(0.43	)

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 and 0.3 million of stock options were excluded from the computations of diluted earnings (loss) per share for the years ended December 31, 2022 and 2021, respectively, because they were anti-dilutive.