Earnings (Loss) per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

The calculation of basic and diluted earnings (loss) per share (EPS) was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands, except per share data)
Basic earnings (loss) per Class A common share
Numerator:
Net (loss) income	$	(2,992)	$	(531)	$	47,147	$	98,204
Amount attributable to unvested Walmart restricted shares	43		—		(742)		—
Net (loss) income allocated to Class A common stockholders	$	(2,949)	$	(531)	$	46,405	$	98,204
Denominator:
Weighted-average Class A shares issued and outstanding	52,635		51,595		52,269		52,405
Basic (loss) earnings per Class A common share	$	(0.06)	$	(0.01)	$	0.89	$	1.87

Diluted earnings (loss) per Class A common share
Numerator:
Net (loss) income allocated to Class A common stockholders	$	(2,949)	$	(531)	$	46,405	$	98,204
Re-allocated earnings	(1)		—		16		—
Diluted net (loss) income allocated to Class A common stockholders	$	(2,950)	$	(531)	$	46,421	$	98,204
Denominator:
Weighted-average Class A shares issued and outstanding	52,635		51,595		52,269		52,405
Dilutive potential common shares:
Stock options	426		83		208		130
Restricted stock units	751		199		658		463
Performance-based restricted stock units	231		373		298		413
Employee stock purchase plan	39		45		22		63
Diluted weighted-average Class A shares issued and outstanding	54,082		52,295		53,455		53,474
Diluted (loss) earnings per Class A common share	$	(0.06)	$	(0.01)	$	0.87	$	1.84

The following table shows the weighted-average number of shares excluded from the diluted EPS calculation as their effects were anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
	(In thousands)
Class A common stock
Options to purchase Class A common stock	947	—	488	—
Restricted stock units	133	476	175	314
Performance-based restricted stock units	460	752	292	466
Unvested Walmart restricted shares	759	—	836	—
Total	2,299	1,228	1,791	780