Earnings per Share

9 Months Ended

Sep. 30, 2021

Earnings per share

Earnings per Share

9.      Earnings per Share

Basic earnings per share is calculated by dividing net income (loss) attributable to controlling interest by the weighted average shares of common stock outstanding during the period, without consideration for common stock equivalents. The Company excluded 2,479,131 and 440,737 equity awards for the three and nine months ended September 30, 2021, respectively, and 420,480 and 702,074 for the three and nine months ended September 30, 2020, respectively, as inclusion would be anti-dilutive.

The basic and diluted earnings per share calculations for the three and nine months ended September 30, 2021 and 2020, respectively, are presented below (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Numerator - Basic
Net income (loss)	$	(5,638)	$	10,173	$	16,120	$	9,969
Net loss attributable to noncontrolling interest		(160)		(523)		(36)		(1,009)
Net income (loss) attributable to common stockholder	$	(5,478)	$	10,696	$	16,156	$	10,978
Numerator - Dilutive
Net income (loss)	$	(5,638)	$	10,173	$	16,120	$	9,969
Net loss attributable to noncontrolling interest		—		(16)		(34)		(52)
Net income (loss) attributable to common stockholder	$	(5,638)	$	10,189	$	16,154	$	10,021
Basic weighted average of outstanding shares of common stock		50,563		49,667		50,293		49,462
Dilutive effect of equity awards		—		1,049		954		764
Dilutive effect of assumed subsidiary share conversion		592		478		592		267
Diluted weighted average of outstanding shares of common stock		51,155		51,194		51,839		50,493
Basic earnings (loss) per share	$	(0.11)	$	0.22	$	0.32	$	0.22
Diluted earnings (loss) per share	$	(0.11)	$	0.20	$	0.31	$	0.20