Earnings Per Share |
9 Months Ended |
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Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 9. Earnings securities. Basic EPS number of common shares outstanding for computed by shares outstanding for the period determined using the treasury-stock method. For common stock options and are only included in the calculation To stockholders was no shares of Class B common stock as of September 30, 2022. To stockholders was allocated as if all the income for based on the effect for the 1 for to Common B common shares was calculated based on their 20 % per share equivalent to Class A common shares. The months ended September 30, 2022 and 2021 (in thousands): The following table reflects the calculation of basic and diluted earnings per common share class for the three and nine months ended September 30, 2022 and 2021 (in thousands, See Note 8 “Stockholders’ Equity” for further discussion Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net Income $ 5,558 $ 6,593 $ 15,707 $ 15,427 Less: Preferred stock dividends - 542 - 2,077 Less: Exchange and redemption of preferred shares - 89,585 - 89,585 Net income (loss) available to common stockholders $ 5,558 $ (83,534) $ 15,707 $ (76,235) Three Months Ended September 30, 2022 2021 Class A Class B Class A Class B (1) Basic EPS Numerator: Net income (loss) available to common shares before allocation $ 5,558 $ - $ (83,534) $ (83,534) Multiply: % allocated on weighted avg. shares outstanding 100.0% - 92.5% 7.5% Net income (loss) available to common shares after allocation $ 5,558 $ - $ (77,278) $ (6,256) Denominator: Weighted average shares outstanding 20,000,753 - 15,121,460 6,121,052 Earnings (loss) per share, basic $ 0.28 $ - $ (5.11) $ (1.02) Diluted EPS Numerator: Net income (loss) available to common shares before allocation $ 5,558 $ - $ (83,534) $ (83,534) Multiply: % allocated on weighted avg. shares outstanding 100.0% - 92.5% 7.5% Net income (loss) available to common shares after allocation $ 5,558 $ - $ (77,278) $ (6,256) Denominator: Weighted average shares outstanding for basic EPS 20,000,753 - 15,121,460 6,121,052 Add: Dilutive effects of assumed exercises of stock options 147,455 - - - Weighted avg. shares including dilutive potential common shares 20,148,208 - 15,121,460 6,121,052 Earnings (loss) per share, diluted $ 0.28 $ - $ (5.11) $ (1.02) Anti-dilutive stock options excluded from diluted EPS 15,000 - 95,602 - (1) outstanding. The allocation also assumes that 0.20 1,224,212 Nine Months Ended September 30, 2022 2021 Class A Class B Class A Class B (1) Basic EPS Numerator: Net income (loss) available to common shares before allocation $ 15,707 $ - $ (76,235) $ (76,235) Multiply: % allocated on weighted avg. shares outstanding 100.0% - 86.2% $ 13.8% Net income (loss) available to common shares after allocation $ 15,707 $ - $ (65,747) $ (10,488) Denominator: Weighted average shares outstanding 19,998,841 - 7,674,609 6,121,052 Earnings (loss) per share, basic $ 0.79 $ - $ (8.57) $ (1.71) Diluted EPS Numerator: Net income (loss) available to common shares before allocation $ 15,707 $ - $ 76,235 $ 76,235 Multiply: % allocated on weighted avg. shares outstanding 100.0% - 86.2% 13.8% Net income (loss) available to common shares after allocation $ 15,707 $ - $ (65,747) $ (10,488) Denominator: Weighted average shares outstanding for basic EPS 19,998,841 - 7,674,609 6,121,052 Add: Dilutive effects of assumed exercises of stock options 179,248 - - - Weighted avg. shares including dilutive potential common shares 20,178,089 - 7,674,609 6,121,052 Earnings (loss) per share, diluted $ 0.78 $ - $ (8.57) $ (1.71) Anti-dilutive stock options excluded from diluted EPS 15,000 - 168,709 - (1) outstanding. The allocation also assumes that 0.20 1,224,212 |