Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of basic and diluted earnings per share

The following table sets forth the calculation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data):

	For the Year Ended December 31,
	2020			2019			2018
Numerator:
Net income attributable to common stockholders - basic	$	7,700		$	20,419		$	36,966
Plus: Net income attributable to non-controlling interests, net of taxes		2,236			12,936			8,487
Less: Earnings allocated to participating securities		(64	)		(115	)		-
Net income attributable to common stockholders - diluted	$	9,872		$	33,240		$	45,453
Denominator:
Weighted average shares outstanding - basic		46,031			45,893			45,855
Effect of dilutive securities		40,000			40,000			40,000
Weighted average shares outstanding - diluted		86,031			85,893			85,855

Net income per common share - basic	$	0.17		$	0.44		$	0.81
Net income per common share - diluted	$	0.11		$	0.39		$	0.53

Schedule of computation of diluted earnings per share

The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods (in thousands):

	For the Year Ended December 31,
	2020		2019		2018

Warrants		21,250		21,250		21,250