EARNINGS PER SHARE Basic earnings per common share is computed by dividing net income available to TMHC by the weighted average number of shares of Common Stock outstanding during the period. Diluted earnings per share gives effect to the potential dilution that could occur if all outstanding dilutive equity awards to issue shares of Common Stock were exercised or settled. The following is a summary of the components of basic and diluted earnings per share (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2021 | | 2020 | | 2021 | | 2020 | Numerator: | | | | | | | | | Net income available to TMHC | | $ | 124,147 | | | $ | 65,674 | | | $ | 222,168 | | | $ | 34,242 | | Denominator: | | | | | | | | | Weighted average shares – basic | | 128,440 | | | 129,629 | | | 128,661 | | | 125,768 | | Restricted stock units | | 801 | | | 585 | | | 892 | | | 721 | | Stock Options | | 824 | | | 150 | | | 834 | | | 237 | | Warrants | | 194 | | | — | | | 379 | | | — | | Weighted average shares – diluted | | 130,259 | | | 130,364 | | | 130,766 | | | 126,726 | | Earnings per common share – basic: | | | | | | | | | Net income available to Taylor Morrison Home Corporation | | $ | 0.97 | | | $ | 0.51 | | | $ | 1.73 | | | $ | 0.27 | | Earnings per common share – diluted: | | | | | | | | | Net income available to Taylor Morrison Home Corporation | | $ | 0.95 | | | $ | 0.50 | | | $ | 1.70 | | | $ | 0.27 | |
The above calculations of weighted average shares exclude 1,133,597 and 982,940 outstanding anti-dilutive stock options and unvested restricted stock units (“RSUs”) for the three and six months ended June 30, 2021, respectively, and 4,225,888 and 3,530,837 for the three and six months ended June 30, 2020, respectively.
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