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Earnings (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Calculations of Earnings (Loss) Per Share

The calculations of earnings (loss) per share are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands, except per share amounts)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Basic earnings (loss) per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations, net of tax

 

$

3,262

 

 

$

26,143

 

 

$

21,733

 

 

$

30,443

 

(Loss) income from discontinued operations, net of tax

 

 

(67,288

)

 

 

(4,217

)

 

 

(62,902

)

 

 

540

 

Net (loss) income

 

$

(64,026

)

 

$

21,926

 

 

$

(41,169

)

 

$

30,983

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

114,251

 

 

 

136,647

 

 

 

115,052

 

 

 

138,409

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings from continuing operations per Common Share

 

$

0.03

 

 

$

0.19

 

 

$

0.19

 

 

$

0.22

 

Basic (loss) earnings from discontinued operations per Common Share

 

 

(0.59

)

 

 

(0.03

)

 

 

(0.55

)

 

 

0.00

 

Net (loss) earnings per Common Share

 

$

(0.56

)

 

$

0.16

 

 

$

(0.36

)

 

$

0.22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations, net of tax

 

$

3,262

 

 

$

26,143

 

 

$

21,733

 

 

$

30,443

 

Effect of assumed conversions:

 

 

 

 

 

 

 

 

 

 

 

 

Plus: Interest expense, net of tax, associated with 0.875% Convertible Senior Notes

 

 

507

 

 

 

0

 

 

 

1,013

 

 

 

0

 

Income from continuing operations, net of tax after the effect of assumed conversions

 

$

3,769

 

 

$

26,143

 

 

$

22,746

 

 

$

30,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from discontinued operations, net of tax

 

$

(67,288

)

 

$

(4,217

)

 

$

(62,902

)

 

$

540

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

114,251

 

 

 

136,647

 

 

 

115,052

 

 

 

138,409

 

Plus: Dilutive effect of restricted stock unit awards, convertible notes and warrants

 

 

4,452

 

 

 

8,624

 

 

 

21,670

 

 

 

8,839

 

Weighted-average common shares outstanding assuming dilution

 

 

118,703

 

 

 

145,271

 

 

 

136,722

 

 

 

147,248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings from continuing operations per Common Share

 

$

0.03

 

 

$

0.18

 

 

$

0.17

 

 

$

0.21

 

Diluted (loss) earnings from discontinued operations per Common Share

 

 

(0.57

)

 

 

(0.03

)

 

 

(0.46

)

 

 

0.00

 

Net (loss) earnings per Common Share

 

$

(0.54

)

 

$

0.15

 

 

$

(0.29

)

 

$

0.21

 

Anti-Dilutive Stock Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Earnings (Loss) Per Share

The following restricted stock unit awards, convertible notes and warrants are not included in the computation of diluted earnings per share as the effect of including such restricted stock unit awards, convertible notes and warrants in the computation would be anti-dilutive:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Shares subject to anti-dilutive restricted stock unit awards, convertible notes and warrants excluded from calculation

 

 

15,814

 

 

 

1,502

 

 

 

92

 

 

 

1,501