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

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

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

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 stockholders by the weighted average number of common shares outstanding during each period, adjusted for non-vested shares of RSAs and PRSUs during each period. Net income applicable to common stockholders 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, RSAs and PRSUs.

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,
	2024		2023
Net income attributable to Green Brick Partners, Inc.	$	83,301	$	64,180
Cumulative preferred stock dividends	(719)		(719)
Net income applicable to common stockholders	$	82,582	$	63,461
Weighted-average number of common shares outstanding - basic	44,942		45,945
Basic net income attributable to Green Brick Partners, Inc. per common share	$	1.84	$	1.38
Weighted-average number of common shares outstanding - basic	44,942		45,945
Dilutive effect of stock options and restricted stock awards	488		406
Weighted-average number of common shares outstanding - diluted	45,430		46,351
Diluted net income attributable to Green Brick Partners, Inc. per common share	$	1.82	$	1.37

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,
	2024	2023
Antidilutive options to purchase common stock and restricted stock awards	(9)	(67)