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Earnings Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 12 — Earnings Per Share

The computations of the numerator (earnings or loss) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying consolidated statements of operations are as follows (in thousands):

Year Ended December 31, 

2022

2021

 

2020

    

Income

    

Shares

    

Income

    

Shares

    

Income

    

Shares

Basic:

 

  

 

  

 

  

 

  

  

 

  

Net income (loss) attributable to common shareholders

$

(87,784)

 

$

(61,538)

 

  

$

22,174

 

  

Less: Undistributed earnings allocated to participating securities

 

 

 

  

(140)

 

  

Less: Accretion of redeemable noncontrolling interests

 

 

(241)

 

  

(2,400)

 

  

Net income (loss) available to common shareholders, basic

$

(87,784)

151,276

$

(61,779)

 

150,056

$

19,634

 

148,993

Diluted:

 

  

  

 

  

 

  

 

  

 

  

Net income (loss) available to common shareholders, basic

$

(87,784)

151,276

$

(61,779)

 

150,056

$

19,634

 

148,993

Effect of dilutive securities:

 

  

  

 

  

 

  

 

  

 

  

Share-based awards other than participating securities

 

 

 

 

 

904

Undistributed earnings reallocated to participating securities

 

 

 

 

1

 

Net income (loss) available to common shareholders, diluted

$

(87,784)

151,276

$

(61,779)

 

150,056

$

19,635

 

149,897

We had net losses for the years ended December 31, 2022 and 2021. Accordingly, our diluted EPS calculation for these periods excluded any assumed exercise or conversion of common stock equivalents. These common stock equivalents were excluded because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable periods. Shares that otherwise would have been included in the diluted per share calculations assuming we had earnings are as follows (in thousands):

Year Ended December 31, 

2022

    

2021

Diluted shares (as reported)

151,276

150,056

Share-based awards

2,158

1,282

Total

153,434

151,338

The following potentially dilutive shares related to the 2022 Notes, the 2023 Notes and the 2026 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands):

Year Ended December 31, 

2022

    

2021

    

2020

2022 Notes

600

2,519

6,537

2023 Notes

3,168

3,168

9,391

2026 Notes

28,676

28,676

10,891