Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Components of Calculation of Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net income	$	227,585	$	43,063	$	354,964	$	30,638
Net income attributable to Noncontrolling interest	(121,349)		(25,676)		(187,529)		(23,778)
Net income attributable to common shareholders for Basic EPS	106,236		17,387		167,435		6,860

Adjustment for assumed conversions and elimination of Noncontrolling interest net income	785		25,676		1,154		23,778
Net income attributable to common shareholders for Diluted EPS	$	107,021	$	43,063	$	168,589	$	30,638

Denominator:
Weighted average shares outstanding used in Basic EPS	19,741		15,319		20,573		15,298
Effect of dilutive securities:
Common Units and Series A Preferred Stock or Class B Common Stock, as applicable, that are exchangeable for common shares 1, 2	—		—		—		—
RSUs and PRSUs	600		394		582		371
Weighted average shares outstanding used in Diluted EPS 2	20,341		15,713		21,155		15,669

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1 In connection with the Juniper Transactions in January 2021, we issued shares of Series A Preferred Stock. In October 2021, the Company effected a recapitalization and the Series A Preferred Stock were exchanged with Class B Common Stock and the designation of the Series A Preferred Stock was cancelled.

2 For the three and nine months ended September 30, 2022, approximately 22.5 million potentially dilutive Common Units (and the associated 22.5 million Class B Common Stock) had the effect of being anti-dilutive and were excluded from the calculation of earnings per share. For the three and nine months ended September 30, 2021, approximately 22.5 million potentially dilutive securities represented by approximately 22.5 million Common Units (and the associated approximately 0.2 million shares of Series A Preferred Stock).