Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 8. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the periods indicated.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Basic (loss) earnings per share:
Net (loss) income attributable to common stockholders (000's)	$	(16,410	)	$	(5,233	)	$	(25,509	)	$	6,519
Weighted average shares outstanding		27,938,028			27,739,839			27,902,814			28,053,959
Basic (loss) earnings per share:	$	(0.59	)	$	(0.19	)	$	(0.91	)	$	0.23
Diluted (loss) earnings per share:
Net (loss) income attributable to common stockholders (000's)	$	(16,410	)	$	(5,233	)	$	(25,509	)	$	6,519
Weighted average shares outstanding		27,938,028			27,739,839			27,902,814			28,053,959
Weighted average dilutive shares		—			—			—			19,611
Total weighted average dilutive shares		27,938,028			27,739,839			27,902,814			28,073,570
Diluted (loss) earnings per share:	$	(0.59	)	$	(0.19	)	$	(0.91	)	$	0.23

Due to the net loss for the three and nine months ended September 30, 2021, the number of dilutive shares is the same as the number of basic shares due to the antidilutive impact of the convertible debt and restricted stock under the if-converted method. The convertible notes were excluded from the computations because the conversion price on these notes was greater than the average market price of the Company’s common shares during each of the respective periods, and therefore, would be anti-dilutive to earnings per share under the treasury method. The Company had 2,677,355 and 1,819,503 antidilutive shares as of September 30, 2021 and 2020, respectively.