Earnings per Common Share

12 Months Ended

Dec. 31, 2021

Earnings per common share:

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the years ended December 31, 2021, 2020 and 2019.


	December 31,
	2021		2020		2019
Basic:
Net income (loss) attributable to common stockholders, basic	$	84,860	$	25,711	$	(15,305)
Weighted average common shares outstanding	99,320,285		99,830,520		83,213,704
Basic income (loss) per common share	$	0.85	$	0.26	$	(0.18)
Diluted:
Effect of dilutive securities:
Net income (loss) attributable to common stockholders, diluted	$	84,860	$	25,711	$	(15,305)
Weighted average common shares outstanding	99,320,285		99,830,520		83,213,704
Effect of dilutive options and warrants	3,972,703		5,232,002		—
Diluted weighted average common shares outstanding	103,292,988		105,062,522		83,213,704
Diluted income (loss) per common share	$	0.82	$	0.24	$	(0.18)

Basic earnings per common share is calculated using the weighted average shares of Common Stock outstanding during the period. Common equivalent shares from stock options, RSUs, warrants and convertible preferred stock using the treasury stock method, are also included in the diluted per share calculations unless the effect of inclusion would be antidilutive.

During the years ended December 31, 2021 and 2020, outstanding stock options, RSUs, warrants and convertible preferred stock of 3,972,703 and 5,232,002, respectively, were included in the computation of diluted earnings per common share. During the year ended 2019, outstanding stock options, RSUs, warrants and convertible preferred stock of 11,116,195, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect because the outstanding exercise prices were greater than the average market price of the common shares during the relevant periods. Included in the years ended December 31, 2021, 2020 and 2019 are the Series B shares as converted to common stock.

The following is the total outstanding options, RSUs and warrants for the years ended December 31, 2021, 2020 and 2019, respectively.


	2021	2020	2019
Options, RSUs, warrants and convertible preferred stock to purchase Common Stock	14,759,254	12,598,857	11,375,323