Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2.2
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Schedule of 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 September 30, Nine Months Ended September 30,
  2022 2021 2022 2021
Numerator:
Net income $ 227,585  $ 43,063  $ 354,964  $ 30,638 
Net income attributable to Noncontrolling interest (121,349) (25,676) (187,529) (23,778)
Net income attributable to common shareholders for Basic EPS 106,236  17,387  167,435  6,860 
Adjustment for assumed conversions and elimination of Noncontrolling interest net income 785  25,676  1,154  23,778 
Net income attributable to common shareholders for Diluted EPS $ 107,021  $ 43,063  $ 168,589  $ 30,638 
Denominator:
Weighted average shares outstanding used in Basic EPS 19,741  15,319  20,573  15,298 
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, 2
—  —  —  — 
RSUs and PRSUs 600  394  582  371 
Weighted average shares outstanding used in Diluted EPS 2
20,341  15,713  21,155  15,669 
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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 nine months ended September 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 three and nine months ended September 30, 2021, approximately 22.5 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).