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EARNINGS PER SHARE (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
EARNINGS PER SHARE    
Summary of computation of basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

    

2021

    

2020

Numerator:

 

 

  

 

 

  

Net Income

 

$

12,416

 

$

7,251

 

 

 

 

 

 

 

Denominator:

 

 

  

 

 

  

Weighted Average Common Shares Outstanding—Basic

 

 

48,496,077

 

 

46,805,951

Dilutive effect of Stock Options and Warrants (1)

 

 

4,012,109

 

 

1,419,652

Weighted Average Common Shares Outstanding—Diluted

 

 

52,508,186

 

 

48,225,603

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.26

 

$

0.16

Diluted earnings per share

 

$

0.24

 

$

0.15

(1)

There were 3,557,432 and 3,646,690 performance-based stock options outstanding at March 31, 2021 and 2020, respectively. As a result of the Company’s initial public offering, 75 percent of these options are expected to meet the performance conditions and are included in dilutive options at March 31, 2021. At March 31, 2020, these options were excluded from the calculation of diluted EPS since the performance conditions were not considered likely to be met.

5. EARNINGS PER SHARE (continued)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Successor

 

 

Predecessor

 

 

 

Year Ended December 31,

 

For the Period 
April 11, 2018 to

 

 

For the Period 
January 1, 2018 to

 

 

    

2020

    

2019

    

December 31, 2018

  

  

April 10, 2018

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income / (Loss)

 

$
(3,904)

 

$
46,072

 

$
(367)

 

 

$
25,910

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Common Shares Outstanding—Basic

 

 
46,806,042

 

 
46,773,038

 

 
46,700,990

 

 

 
100,000,000

 

Dilutive effects of Warrants

 

 

—

 

 

—

 

 

—

 

 

 

—

 

Dilutive effect of Stock Options and Warrants(1)

 

 

—

 

 
1,136,375

 

 

—

 

 

 

—

 

Weighted Average Common Shares Outstanding—Diluted

 

 
46,806,042

 

 
47,909,413

 

 
46,700,990

 

 

 
100,000,000

 

Basic earnings / (loss) per share

 

$
(0.08)

 

$
0.99

 

$
(0.01)

 

 

$
0.26

 

Diluted earnings / (loss) per share

 

$
(0.08)

 

$
0.96

 

$
(0.01)

 

 

$
0.26

 

(1)

There were 3,577,252,  3,502,925 and 3,583,923 performance-based stock options outstanding as of December 31, 2020, 2019 and 2018, respectively, that were excluded from the calculation of diluted EPS. Additionally, in loss periods, the inclusion of unvested options would have an anti-dilutive effect.