EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

The following is a reconciliation of the numerator and denominator for basic and diluted income (loss) per share for the three months ended March 31, 2023 and 2022 (in thousands, except per share amounts):


	Three Months Ended March 31,
	2023		2022
Basic income (loss) per Share
Numerator:
Net income (loss) attributable to shareholders from continuing operations	$	3,523	$	(7,719)
Net income attributable to shareholders from discontinued operations, net of tax	50,340		2,750
Net income (loss) attributable to common shareholders	$	53,863	$	(4,969)
Denominator:
Weighted-average common shares outstanding	75,689		63,372
Basic income (loss) per common shares
Continuing operations	$	0.05	$	(0.12)
Discontinued operations, net of tax	0.66		0.04
Basic income (loss) per share	$	0.71	$	(0.08)

Diluted Income (Loss) per Share
Numerator:
Net income (loss) attributable to shareholders from continuing operations	$	3,523	$	(7,719)


Net income available to shareholders from discontinued operations, net of tax	50,340		2,750
Net income (loss) available to common shareholders	$	53,863	$	(4,969)
Denominator:
Weighted-average shares outstanding*	75,689		63,372
Effect of dilutive securities
Stock options and warrants	3,307		—

Diluted weighted-average shares outstanding	78,996		63,372
Diluted income (loss) per common shares
Continuing operations	$	0.04	$	(0.12)
Discontinued operations, net of tax	0.64		0.04
Diluted income (loss) per share	$	0.68	$	(0.08)

* Excludes 22.2 million and 36.2 million shares of common stock for the three months ended March 31, 2023 and 2022, respectively, which may be issued upon conversion of the Convertible Senior Notes, based on the initial maximum conversion rate of 233.6449 shares of the Company’s common stock per $1,000 principal amount of Convertible Senior Notes. These were excluded due to their anti-dilutive effect.