Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2
Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Components of Calculation of Basic and Diluted Earnings Per Share
The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings (loss) per share for the periods presented:
  Three Months Ended June 30, Six Months Ended June 30,
  2022 2021 2022 2021
Numerator:
Net income (loss) $ 148,040  $ 7,596  $ 127,379  $ (12,425)
Net (income) loss attributable to Noncontrolling interest (76,856) (4,551) (66,180) 1,898 
Net income (loss) attributable to common shareholders for Basic EPS 71,184  3,045  61,199  (10,527)
Adjustment for assumed conversions and elimination of Noncontrolling interest net income (loss) 521  4,551  432  (1,898)
Net income (loss) attributable to common shareholders for Diluted EPS $ 71,705  $ 7,596  $ 61,631  $ (12,425)
Denominator:
Weighted average shares outstanding used in Basic EPS 20,887  15,311  20,996  15,287 
Effect of dilutive securities:
Common Units and Series A Preferred Stock or Class B Common Stock, as applicable, that are exchangeable for common shares 1
—  22,549  —  — 
RSUs and PRSUs 627  512  608  — 
Weighted average shares outstanding used in Diluted EPS 2
21,514  38,372  21,604  15,287 
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1    In connection with the Juniper Transactions in January 2021, we issued shares of Series A Preferred Stock. In October 2021, the Company effected a recapitalization and the Series A Preferred Stock were exchanged with Class B Common Stock and the designation of the Series A Preferred Stock was cancelled.
2    For the three and six months ended June 30, 2022, approximately 22.5 million potentially dilutive Common Units (and the associated 22.5 million Class B Common Stock) had the effect of being anti-dilutive and were excluded from the calculation of earnings per share. For the six months ended June 30, 2021, approximately 22.8 million potentially dilutive securities represented by approximately 22.5 million Common Units (and the associated approximately 0.2 million shares of Series A Preferred Stock) as well as approximately 0.3 million of RSUs and PRSUs had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share.