Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 13 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss), after deducting redeemable preferred stock dividends and accretion and European non-controlling redeemable equity dividends, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, the weighted average shares outstanding includes the dilutive effect of outstanding stock options and time and performance based restricted stock units under the treasury stock method. The redeemable preferred shares discussed in Note 11, “Redeemable Preferred Stock” have not been included in the calculation of diluted earnings per share because inclusion of such shares on an as converted basis would be anti-dilutive.

Year Ended December 31,	2020			2019
(Dollars in thousands, except per share amounts)
Basic Earnings Per Share:
Net loss	$	(243,561	)	$	(96,460	)
Less: Redeemable preferred stock dividends and accretion		(31,994	)		(30,977	)
Less: European non-controlling redeemable equity dividend		(205	)		(566	)
Basic numerator	$	(275,760	)	$	(128,003	)
Basic loss per share	$	(10.81	)	$	(5.10	)
Weighted average shares outstanding – Basic		25,498			25,099
Diluted Earnings Per Share:
Net loss	$	(243,561	)	$	(96,460	)
Less: Redeemable preferred stock dividends and accretion		(31,994	)		(30,977	)
Less: European non-controlling redeemable equity dividend		(205	)		(566	)
Diluted numerator	$	(275,760	)	$	(128,003	)
Diluted loss per share	$	(10.81	)	$	(5.10	)
Weighted average shares outstanding – Basic		25,498			25,099
Dilutive effect of common share equivalents		—			—
Weighted average shares outstanding – Diluted		25,498			25,099