Note 11 - Net Income (Loss) Attributable to Controlling Interests Per Common Share

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

11. Net Income (Loss) Attributable to Controlling Interests Per Common Share

The following table sets forth the computations of net income (loss) per common share (in thousands, except per share data): 

	For the Three Months Ended March 31,
	2019		2018
Numerator:
Net income (loss) attributable to controlling interests	$	5,713	$	(4,670	)
Denominator:
Basic (including unvested share-based payment awards) (1)		14,355		13,899
Effect of dilutive stock compensation arrangements (2)		362		—
Diluted (including unvested share-based payment awards) (1)		14,717		13,899
Net income (loss) attributable to controlling interests per common share—basic	$	0.40	$	(0.34	)
Net income (loss) attributable to controlling interests per common share—diluted	$	0.39	$	(0.34	)

( 1 ) Shares related to unvested share-based payment awards included in our basic and diluted share counts were 397,566 for the three months ended  March  31, 2019, compared to 184,196 for the three months ended  March  31, 2018.

( 2 ) The effect of dilutive stock compensation arrangements is shown only for informational purposes where we are in a net loss position.  In such situations, the effect of including outstanding options and restricted stock would be anti-dilutive, and they are thus excluded from all loss period calculations.

For the

three

months ended

March 

31,

2019

and

2018,

there were

no

shares potentially issuable and thus includible in the diluted net income attributable to controlling interests per common share calculations pursuant to our convertible senior notes. However, in future reporting periods during which our closing stock price is above the

$24.61

conversion price for the convertible senior notes, and depending on the closing stock price at conversion, the maximum potential dilution under the conversion provisions of such notes is

3.6

million shares, which could be included in diluted share counts in net income per common share calculations. See Note

9,

“Convertible Senior Notes,” for a further discussion of these convertible securities.