Earnings Per Share

9 Months Ended

Sep. 30, 2021

NET INCOME (LOSS) PER SHARE

Basic net income (loss) per common share attributable to Altice USA stockholders is computed by dividing net income (loss) attributable to Altice USA stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share attributable to Altice USA stockholders reflects the dilutive effects of stock options and restricted stock. For such awards that are performance based, the diluted effect is reflected upon the achievement of the performance criteria. Diluted net loss per common share attributable to Altice USA stockholders excludes the effects of common stock equivalents as they are anti-dilutive.

The following table presents a reconciliation of weighted average shares used in the calculations of the basic and diluted net income per share attributable to Altice USA stockholders for the three and nine months ended September 30, 2021 and the nine months ended September 30, 2020:


	Three Months Ended September 30,	Nine Months Ended September 30,
	2021	2021	2020
	(in thousands)
Basic weighted average shares outstanding	454,049	460,023	593,262
Effect of dilution:
Stock options	3,114	5,311	2,200
Restricted stock	—	15	17
Diluted weighted average shares outstanding	457,163	465,349	595,479

Weighted average shares excluded from diluted weighted average shares outstanding:
Anti-dilutive shares	26,453	9,381	25,649
Performance stock units and restricted stock whose performance metrics have not been achieved.	8,618	8,704	8,139

Diluted net loss per common share attributable to Altice USA stockholders for the three months ended September 30, 2020 excludes the effects of weighted average common stock equivalents of 30,651, as they were anti-dilutive. It also excludes performance stock units and restricted stock aggregating 8,893 as the performance metrics had not been achieved.

Net income (loss) per membership unit for CSC Holdings is not presented since CSC Holdings is a limited liability company and a wholly-owned subsidiary of Altice USA.