Year Ended December 31,

2019

2018

2017

(Dollars in thousands, except per share amounts)

Numerator:

Net income (loss) attributable to The New Home Company Inc.

$

(8,037

)

$

(14,216

)

$

17,152

Denominator:

Basic weighted-average shares outstanding

20,063,148

20,703,967

20,849,736

Effect of dilutive shares:

Stock options and unvested restricted stock units

—

145,762

Diluted weighted-average shares outstanding

20,063,148

20,703,967

20,995,498

Basic earnings (loss) per share attributable to The New Home Company Inc.

$

(0.40

)

$

(0.69

)

$

0.82

Diluted earnings (loss) per share attributable to The New Home Company Inc.

$

(0.40

)

$

(0.69

)

$

0.82

Antidilutive stock options and unvested restricted stock units not included in diluted earnings per share

1,320,400

1,311,802

7,074