Note 12 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

12. Earnings Per Share

Basic earnings per share is computed by dividing net income available to BBX Capital’s shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed in the same manner as basic earnings per share but also reflects potential dilution that could occur if restricted stock awards issued by BBX Capital were vested. Restricted stock awards, if dilutive, are considered in the weighted average number of dilutive common shares outstanding based on the treasury stock method.

The table below sets forth the computation of basic and diluted earnings per common share (in thousands, except per share data):

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Basic loss per share
Numerator:
Net loss	$	(10,690	)		(6,535	)		(33,151	)		(6,407	)
Net loss (income) attributable to noncontrolling interests		780			(1,290	)		226			(1,516	)
Net loss available to shareholders	$	(9,910	)		(7,825	)		(32,925	)		(7,923	)
Denominator:
Basic weighted average number of common shares outstanding		13,396			14,354			13,618			14,354
Basic loss per share	$	(0.74	)		(0.55	)		(2.42	)		(0.55	)
Diluted loss per share
Numerator:
Net loss available to shareholders	$	(9,910	)		(7,825	)		(32,925	)		(7,923	)
Allocation of income to options on noncontrolling interests in real estate joint ventures		—			(115	)		—			(112	)
Diluted net loss available to shareholders	$	(9,910	)		(7,940	)		(32,925	)		(8,035	)
Denominator:
Basic weighted average number of common shares outstanding		13,396			14,354			13,618			14,354
Effect of dilutive restricted stock awards		—			—			—			—
Diluted weighted average number of common shares outstanding		13,396			14,354			13,618			14,354
Diluted loss per share	$	(0.74	)		(0.55	)		(2.42	)		(0.56	)

During the three and nine months ended September 30, 2024, 944,951 of outstanding unvested restricted stock awards were anti-dilutive and not included in the computation of diluted earnings per share. During the three and nine months ended September 30, 2023, 930,614 of outstanding unvested restricted stock awards were anti-dilutive and not included in the computation of diluted earnings per share.