|
Note 13 — Earnings Per Share
Basic earnings per share (“EPS”) is calculated by dividing net income (loss) attributable to Arbor Realty Trust, Inc. by the weighted average number of shares of common stock outstanding during each period inclusive of unvested restricted stock with full dividend participation. Diluted EPS is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding plus the additional dilutive effect of common stock equivalents during each period using the treasury stock method. The Company’s common stock equivalents include the dilutive effect of warrants outstanding and the potential settlement of incentive management fees in common stock.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the three months ended September 30, 2012 and 2011.
|
|
|
For the Three Months Ended |
|
For the Three Months Ended |
|
|
|
|
September 30, 2012 |
|
September 30, 2011 |
|
|
|
|
Basic |
|
Diluted |
|
Basic |
|
Diluted (1) |
|
|
Income (loss) from continuing operations, net of noncontrolling interest |
|
$ |
2,060,329 |
|
$ |
2,060,329 |
|
$ |
(2,068,526 |
) |
$ |
(2,068,526 |
) |
|
Income (loss) from discontinued operations |
|
— |
|
— |
|
(373,703 |
) |
(373,703 |
) |
|
Net income (loss) attributable to Arbor Realty Trust, Inc |
|
$ |
2,060,329 |
|
$ |
2,060,329 |
|
$ |
(2,442,229 |
) |
$ |
(2,442,229 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding |
|
27,749,225 |
|
27,749,225 |
|
25,239,590 |
|
25,239,590 |
|
|
Dilutive effect of warrants |
|
— |
|
288,819 |
|
— |
|
— |
|
|
Weighted average number of common shares outstanding |
|
27,749,225 |
|
28,038,044 |
|
25,239,590 |
|
25,239,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations, net of noncontrolling interest, per common share |
|
$ |
0.07 |
|
$ |
0.07 |
|
$ |
(0.09 |
) |
$ |
(0.09 |
) |
|
Loss from discontinued operations per common share |
|
— |
|
— |
|
(0.01 |
) |
(0.01 |
) |
|
Net income (loss) attributable to Arbor Realty Trust, Inc. per common share |
|
$ |
0. 07 |
|
$ |
0.07 |
|
$ |
(0.10 |
) |
$ |
(0.10 |
) |
(1) For the three months ended September 30, 2011, the Company had a net loss and thus did not have a dilutive effect from one million warrants.
The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the nine months ended September 30, 2012 and 2011.
|
|
|
For the Nine Months Ended |
|
For the Nine Months Ended |
|
|
|
|
September 30, 2012 |
|
September 30, 2011 |
|
|
|
|
Basic |
|
Diluted |
|
Basic |
|
Diluted (1) |
|
|
Income (loss) from continuing operations, net of noncontrolling interest |
|
$ |
16,838,238 |
|
$ |
16,838,238 |
|
$ |
(10,633,393 |
) |
$ |
(10,633,393 |
) |
|
Income (loss) from discontinued operations |
|
4,929,889 |
|
4,929,889 |
|
(1,896,422 |
) |
(1,896,422 |
) |
|
Net income (loss) attributable to Arbor Realty Trust, Inc |
|
$ |
21,768,127 |
|
$ |
21,768,127 |
|
$ |
(12,529,815 |
) |
$ |
(12,529,815 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding |
|
25,643,470 |
|
25,643,470 |
|
25,214,832 |
|
25,214,832 |
|
|
Dilutive effect of warrants |
|
— |
|
247,613 |
|
— |
|
— |
|
|
Weighted average number of common shares outstanding |
|
25,643,470 |
|
25,891,083 |
|
25,214,832 |
|
25,214,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations, net of noncontrolling interest, per common share |
|
$ |
0.66 |
|
$ |
0.65 |
|
$ |
(0.42 |
) |
$ |
(0.42 |
) |
|
Loss from discontinued operations per common share |
|
0.19 |
|
0.19 |
|
(0.08 |
) |
(0.08 |
) |
|
Net income (loss) attributable to Arbor Realty Trust, Inc. per common share |
|
$ |
0.85 |
|
$ |
0.84 |
|
$ |
(0.50 |
) |
$ |
(0.50 |
) |
(1) For the nine months ended September 30, 2011, the Company had a net loss and thus did not have a dilutive effect from one million warrants.
|