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Earnings Per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 12 – EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income (loss), after deducting preferred 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 10, “Redeemable Preferred Stock” have not been included in the diluted earnings per share because the inclusion of such shares on an as converted basis would be anti-dilutive for the three and six months ended June 30, 2021 and 2020.

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

2021

 

 

June 30,

2020

 

 

June 30,

2021

 

 

June 30,

2020

 

(Dollars in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

1,695

 

 

$

(43,218

)

 

$

14,817

 

 

$

(233,300

)

Less: Redeemable preferred stock dividends and accretion

 

 

(8,422

)

 

 

(7,905

)

 

 

(16,712

)

 

 

(15,755

)

Less: European non-controlling redeemable equity dividend

 

 

(25

)

 

 

(26

)

 

 

(38

)

 

 

(46

)

Basic numerator

 

$

(6,752

)

 

$

(51,149

)

 

$

(1,933

)

 

$

(249,101

)

Basic loss per share

 

$

(0.26

)

 

$

(2.00

)

 

$

(0.07

)

 

$

(9.81

)

Weighted average shares outstanding – Basic

 

 

25,974

 

 

 

25,562

 

 

 

25,841

 

 

 

25,403

 

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

1,695

 

 

$

(43,218

)

 

$

14,817

 

 

$

(233,300

)

Less: Redeemable preferred stock dividends and accretion

 

 

(8,422

)

 

 

(7,905

)

 

 

(16,712

)

 

 

(15,755

)

Less: European non-controlling redeemable equity dividend

 

 

(25

)

 

 

(26

)

 

 

(38

)

 

 

(46

)

Diluted numerator

 

$

(6,752

)

 

$

(51,149

)

 

$

(1,933

)

 

$

(249,101

)

Diluted loss per share

 

$

(0.26

)

 

$

(2.00

)

 

$

(0.07

)

 

$

(9.81

)

Weighted average shares outstanding – Basic

 

 

25,974

 

 

 

25,562

 

 

 

25,841

 

 

 

25,403

 

Dilutive effect of common share equivalents

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Weighted average shares outstanding – Diluted

 

 

25,974

 

 

 

25,562

 

 

 

25,841

 

 

 

25,403