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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

4. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023 (in thousands, except per share amounts):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Acadia Healthcare Company, Inc.

 

$

68,132

 

 

$

(217,710

)

 

$

222,997

 

 

$

(79,396

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per share

 

 

91,720

 

 

 

91,168

 

 

 

91,571

 

 

 

90,852

 

Effects of dilutive instruments

 

 

468

 

 

 

—

 

 

 

548

 

 

 

—

 

Shares used in computing diluted earnings per common share

 

 

92,188

 

 

 

91,168

 

 

 

92,119

 

 

 

90,852

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share attributable to Acadia Healthcare
     Company, Inc. stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.74

 

 

$

(2.39

)

 

$

2.44

 

 

$

(0.87

)

Diluted

 

$

0.74

 

 

$

(2.39

)

 

$

2.42

 

 

$

(0.87

)

Approximately 0.3 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for both the three and nine months ended September 30, 2024, respectively, because their effect would have been anti-dilutive. For the three and nine months ended September 30, 2023, approximately 0.5 million and 0.8 million, respectively, of outstanding shares of restricted stock and shares of common stock issuable upon exercise of outstanding stock option awards have been included in the calculation of weighted average shares outstanding-diluted. These shares are excluded from the calculation of diluted earnings per share in the condensed consolidated statement of operations because the net loss for both the three and nine months ended September 30, 2023 causes such securities to be anti-dilutive. Approximately 0.4 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for both the three and nine months ended September 30, 2023, respectively, because their effect would have been anti-dilutive.