Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 16 -- Earnings Per Share

U.S. GAAP requires the Company to use the two-class method in computing basic earnings (loss) per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common stockholders. These participating securities affect the computation of both basic and diluted earnings (loss) per share during periods of net income or loss. For a majority-owned subsidiary, its basic and diluted earnings (loss) per share are first computed separately. Then, the Company’s proportionate share in that majority-owned subsidiary’s earnings is added to the computation of both basic and diluted earnings (loss) per share at a consolidated level.

A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below:

	Three Months Ended								Three Months Ended
	June 30, 2022								June 30, 2021
	Loss			Shares (a)		Per Share			Income			Shares (a)		Per Share
	(Numerator)			(Denominator)		Amount			(Numerator)			(Denominator)		Amount
Net (loss) income	$	(8,542	)						$	3,830
Less: Net income attributable to redeemable    noncontrolling interest		(2,268	)							(2,179	)
Less: TypTap Group’s net loss attributable    to non-HCI common stockholders and    TypTap Group’s participating securities		829								429
Net (loss) income attributable to HCI		(9,981	)							2,080
Less: Loss (income) attributable to    participating securities		635								(168	)
Basic (Loss) Earnings Per Share:
(Loss) income allocated to common    stockholders		(9,346	)		9,022	$	(1.04	)		1,912			7,526	$	0.25
Effect of Dilutive Securities: *
Stock options		—			—					—			175
Warrants		—			—					—			247
Diluted (Loss) Earnings Per Share:
(Loss) income available to common    stockholders and assumed conversions	$	(9,346	)		9,022	$	(1.04	)	$	1,912			7,948	$	0.24

(a)	Shares in thousands.
*	For the three months ended June 30, 2022, convertible senior notes, stock options, and warrants were excluded due to anti-dilutive effect. For the three months ended June 30, 2021, convertible senior notes were excluded due to anti-dilutive effect.

	Six Months Ended								Six Months Ended
	June 30, 2022								June 30, 2021
	Loss			Shares (a)		Per Share			Income			Shares (a)		Per Share
	(Numerator)			(Denominator)		Amount			(Numerator)			(Denominator)		Amount
Net (loss) income	$	(5,751	)						$	10,675
Less: Net income attributable to redeemable    noncontrolling interest		(4,516	)							(2,973	)
Less: TypTap Group’s net loss attributable    to non-HCI common stockholders and    TypTap Group’s participating securities		1,189								501
Net (loss) income attributable to HCI		(9,078	)							8,203
Less: Loss (income) attributable to    participating securities		590								(569	)
Basic (Loss) Earnings Per Share:
(Loss) income allocated to common    stockholders		(8,488	)		9,249	$	(0.92	)		7,634			7,500	$	1.02
Effect of Dilutive Securities: *
Stock options		—			—					—			141
Warrants		—			—					—			161
Diluted (Loss) Earnings Per Share:
(Loss) income available to common    stockholders and assumed conversions	$	(8,488	)		9,249	$	(0.92	)	$	7,634			7,802	$	0.98

(a)	Shares in thousands.
*	For the six months ended June 30, 2022, convertible senior notes, stock options, and warrants were excluded due to anti-dilutive effect. For the six months ended June 30, 2021, convertible senior notes were excluded due to anti-dilutive effect.