Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings per share

Net Income (Loss) Per Common Share

(11)        Net Income (Loss) Per Common Share

The Business Combination was accounted for as a reverse recapitalization by which AdaptHealth Holdings issued stock for the net assets of the Company accompanied by a recapitalization. Earnings per share (EPS) has been recast for all historical periods to reflect the Company’s capital structure for all comparative periods.

Basic EPS was computed by dividing net income (loss) attributable to AdaptHealth Corp. by the weighted-average number of outstanding shares of Class A Common Stock for the period. Diluted EPS is computed by dividing net income (loss) attributable to AdaptHealth Corp. by the weighted-average number of outstanding shares of Class A Common Stock after giving effect to all potential dilutive common stock.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted EPS is as follows (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator - Basic and Diluted EPS:
Net income (loss)	$	7,169	$	(1,722)	$	7,435	$	(7,175)
Less: Income attributable to noncontrolling interests		3,136		361		3,560		709
Net income (loss) attributable to AdaptHealth Corp.	$	4,033	$	(2,083)	$	3,875	$	(7,884)
Denominator - Basic EPS:
Weighted-average common shares outstanding for basic net income (loss) per common share		44,508		21,721		43,242		17,814
Basic net income (loss) per common share attributable to AdaptHealth Corp.	$	0.09	$	(0.10)	$	0.09	$	(0.44)
Denominator - Diluted EPS:
Weighted-average common shares outstanding		44,508		21,721		43,242		17,814
Plus: Contingent Consideration Shares (See Note 10)		350		—		350		—
Plus: Warrants (See Note 10)		2,400		—		1,960		—
Plus: Unvested restricted stock		576		—		548		—
Adjusted weighted-average common shares outstanding for diluted net income (loss) per common share		47,834		21,721		46,100		17,814
Diluted net income (loss) per common share attributable to AdaptHealth Corp.	$	0.08	$	(0.10)	$	0.08	$	(0.44)