Net Income Attributable to Green Brick Partners, Inc. Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income Attributable to Green Brick Partners, Inc. Per Share

EARNINGS PER SHARE

The Company’s RSAs have the right to receive forfeitable dividends on an equal basis with common stock and therefore are not considered participating securities that must be included in the calculation of net income per share using the two-class method.

Basic earnings per common share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during each period, adjusted for non-vested shares of restricted stock awards during each period. Net income applicable to common shareholders is net income adjusted for preferred stock dividends including dividends declared and cumulative dividends related to the current dividend period that have not been declared as of period end. Diluted earnings per share is calculated using the treasury stock method and includes the effect of all dilutive securities, including stock options and restricted stock awards.

The computation of basic and diluted net income attributable to Green Brick Partners, Inc. per share is as follows (in thousands, except per share amounts):

	Three Months Ended March 31,
	2022		2021
Net income attributable to Green Brick Partners, Inc.	$	61,577	$	25,969
Preferred stock dividends paid	(599)		—
Cumulative preferred stock dividends	(120)		—
Net income applicable to common shareholders	60,858		25,969
Weighted-average number of common shares outstanding - basic	50,586		50,633
Basic net income attributable to Green Brick Partners, Inc. per common share	$	1.20	$	0.51
Weighted-average number of common shares outstanding - basic	50,586		50,633
Dilutive effect of stock options and restricted stock awards	338		360
Weighted-average number of common shares outstanding - diluted	50,924		50,993
Diluted net income attributable to Green Brick Partners, Inc. per common share	$	1.20	$	0.51

The following shares which could potentially dilute earnings per share in the future are not included in the determination of diluted net income attributable to Green Brick Partners, Inc. per common share (in thousands):

	Three Months Ended March 31,
	2022	2021
Antidilutive options to purchase common stock and restricted stock awards	29	—