Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

10. EARNINGS PER SHARE.

The following tables compute basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended June 30, 2022
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Alto Ingredients, Inc.	$	22,115
Less: Preferred stock dividends		(315	)
Less: Income allocated to participating securities		(284	)
Basic income per share:
Income available to common stockholders	$	21,516			72,936	$	0.29
Add: Dilutive instruments		—			187
Diluted income per share:
Income available to common stockholders	$	21,516			73,123	$	0.29

	Three Months Ended June 30, 2021
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Alto Ingredients, Inc.	$	8,390
Less: Preferred stock dividends		(315	)
Less: Income allocated to participating securities		(108	)
Basic income per share:
Income available to common stockholders	$	7,967			71,260	$	0.11
Add: Dilutive instruments		—			669
Diluted income per share:
Income available to common stockholders	$	7,967			71,929	$	0.11

	Six Months Ended June 30, 2022
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Alto Ingredients, Inc.	$	19,513
Less: Preferred stock dividends		(627	)
Less: Income allocated to participating securities		(251	)
Basic income per share:
Income available to common stockholders	$	18,635			71,690	$	0.26
Add: Dilutive instruments		—			268
Diluted income per share:
Income available to common stockholders	$	18,635			71,958	$	0.26

	Six Months Ended June 30, 2021
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Alto Ingredients, Inc.	$	13,068
Less: Preferred stock dividends		(627	)
Less: Income allocated to participating securities		(167	)
Basic income per share:
Income available to common stockholders	$	12,274			70,808	$	0.17
Add: Dilutive instruments		—			1,153
Diluted income per share:
Income available to common stockholders	$	12,274			71,961	$	0.17

There were an additional aggregate potentially dilutive weighted-average shares of 964,000 from convertible securities outstanding for the three and six months ended June 30, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three and six months ended June 30, 2022 and 2021, as their effect would have been anti-dilutive. At December 31, 2021, the Company had outstanding unexercised warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised on April 28, 2022.