Earnings Per Share

12 Months Ended

Dec. 31, 2019

A reconciliation of the numerators and denominators of the basic and diluted per share computations follows. No such computation is necessary for the Predecessor Period as the Predecessor was not previously accounted for as a standalone legal entity and did not have publicly traded securities.



(In thousands, except per share data)	Year Ended December 31, 2019		July 31, 2018 Through December 31, 2018
Basic:
Net income attributable to Class A Common Stock	$	47,433	$	39,095
Weighted average number of common shares outstanding during the period - basic	161,886		154,527
Net income per share of Class A Common Stock - basic	$	0.29	$	0.25

Diluted:
Net income attributable to Class A Common Stock	$	47,433	$	39,095
Weighted average number of common shares outstanding during the period - basic	161,886		154,527
Add: Dilutive effect warrants, stock based compensation, and other	5,161		3,705
Weighted average number of common shares outstanding during the period - diluted	167,047		158,232
Net income per share of Class A Common Stock - diluted	$	0.28	$	0.25

The calculation for weighted average shares reflects shares outstanding over the reporting period based on the actual number of days the shares were outstanding. The Company excluded 92.0 million and 90.9 million of weighted average shares of Class A Common Stock issuable upon conversion of the Class B Common Stock (and the corresponding Magnolia LLC Units) for the year ended December 31, 2019 and the 2018 Successor Period, respectively, as the effect was anti-dilutive.