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EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share and Weighted Average Shares Outstanding

The computation of basic and diluted earnings per share and weighted average shares of the Company’s common stock outstanding for the periods are presented below (in thousands, except share and per share data):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator for basic (loss) earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(186,312

)

 

$

(116,990

)

 

$

(290,681

)

 

$

588,273

 

Less: Net (loss) income attributable to noncontrolling interests

 

 

(51,568

)

 

 

(50,307

)

 

 

(107,591

)

 

 

242,985

 

Net (loss) income from continuing operations attributable to the Company

 

 

(134,744

)

 

 

(66,683

)

 

 

(183,090

)

 

 

345,288

 

Adjustment to net (loss) income attributable to the Company

 

 

—

 

 

 

—

 

 

 

556

 

 

 

(2,452

)

Net (loss) income from continuing operations attributable to EGH common shareholders- Basic

 

$

(134,744

)

 

$

(66,683

)

 

$

(182,534

)

 

$

342,836

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from discontinued operations

 

$

(234,050

)

 

$

1,006

 

 

$

(686,924

)

 

$

(1,467

)

Less: Net (loss) income attributable to noncontrolling interests

 

 

(104,125

)

 

 

3,531

 

 

 

(253,487

)

 

 

1,824

 

Net (loss) income from discontinued operations attributable to the Company

 

 

(129,925

)

 

 

(2,525

)

 

 

(433,437

)

 

 

(3,291

)

Adjustment to net (loss) income attributable to the Company

 

 

—

 

 

 

—

 

 

 

1,310

 

 

 

—

 

Net (loss) income from discontinued operations attributable to EGH common shareholders- Basic

 

$

(129,925

)

 

$

(2,525

)

 

$

(432,127

)

 

$

(3,291

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to EGH common shareholders for basic (loss) earnings per share

 

$

(264,669

)

 

$

(69,208

)

 

$

(614,661

)

 

$

339,545

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator for diluted (loss) earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(186,312

)

 

$

(116,990

)

 

$

(290,681

)

 

$

588,273

 

Less: Net (loss) income attributable to noncontrolling interests

 

 

(50,657

)

 

 

(43,417

)

 

 

(107,591

)

 

 

244,739

 

Net (loss) income from continuing operations attributable to the Company

 

 

(135,655

)

 

 

(73,573

)

 

 

(183,090

)

 

 

343,534

 

Adjustment to net (loss) income attributable to the Company

 

 

—

 

 

 

—

 

 

 

556

 

 

 

(2,452

)

Net (loss) income from continuing operations attributable to EGH common shareholders- Diluted

 

$

(135,655

)

 

$

(73,573

)

 

$

(182,534

)

 

$

341,082

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from discontinued operations

 

$

(234,050

)

 

$

1,006

 

 

$

(686,924

)

 

$

(1,467

)

Less: Net (loss) income attributable to noncontrolling interests

 

 

(104,125

)

 

 

3,531

 

 

 

(253,487

)

 

 

1,824

 

Net (loss) income from discontinued operations attributable to the Company

 

 

(129,925

)

 

 

(2,525

)

 

 

(433,437

)

 

 

(3,291

)

Adjustment to net (loss) income attributable to the Company

 

 

—

 

 

 

—

 

 

 

1,310

 

 

 

—

 

Net (loss) income from discontinued operations attributable to EGH common shareholders- Diluted

 

$

(129,925

)

 

$

(2,525

)

 

$

(432,127

)

 

$

(3,291

)

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to EGH common shareholders for diluted (loss) earnings per share

 

$

(265,580

)

 

$

(76,098

)

 

$

(614,661

)

 

$

337,791

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Denominator for basic and diluted (loss) earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average Class A Common Shares outstanding - Basic

 

 

306,992,963

 

 

 

301,876,322

 

 

 

303,893,880

 

 

 

298,311,200

 

Additional shares assuming exchange of all EOC Profits Units

 

 

—

 

 

 

—

 

 

 

—

 

 

 

828,375

 

Additional shares from RSUs, Stock Options and Phantom Units, as calculated using the treasury stock method

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,165,692

 

Shares to be received under the accelerated share repurchase agreement

 

 

—

 

 

 

(1,236,180

)

 

 

—

 

 

 

—

 

Weighted average number of shares used in computing diluted (loss) earnings per share

 

 

306,992,963

 

 

 

300,640,142

 

 

 

303,893,880

 

 

 

301,305,267

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

(Loss) earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share from continuing operations

 

$

(0.44

)

 

$

(0.22

)

 

$

(0.60

)

 

$

1.15

 

Basic (loss) earnings per share from discontinued operations

 

 

(0.42

)

 

 

(0.01

)

 

 

(1.42

)

 

 

(0.01

)

Basic

 

 

(0.86

)

 

 

(0.23

)

 

 

(2.02

)

 

 

1.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss) earnings per share from continuing operations

 

 

(0.44

)

 

 

(0.24

)

 

 

(0.60

)

 

 

1.13

 

Diluted (loss) earnings per share from discontinued operations

 

 

(0.42

)

 

 

(0.01

)

 

 

(1.42

)

 

 

(0.01

)

Diluted

 

 

(0.86

)

 

 

(0.25

)

 

 

(2.02

)

 

 

1.12

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Securities that are anti-dilutive for the period

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

 

 

4,018,845

 

 

 

4,094,349

 

 

 

4,018,845

 

 

 

4,094,349

 

Unvested RSUs

 

 

8,209,150

 

 

 

8,708,363

 

 

 

8,209,150

 

 

 

2,243,987

 

Manager LLC Units

 

 

20,139,974

 

 

 

22,615,094

 

 

 

20,139,974

 

 

 

22,615,094

 

EOC Common Units

 

 

124,911,004

 

 

 

133,522,244

 

 

 

124,911,004

 

 

 

133,149,753

 

EOC Profits Interest & Phantom Units

 

 

15,509,785

 

 

 

15,520,567

 

 

 

15,509,785

 

 

 

—

 

Redeemable Non-Controlling Interests

 

 

—

 

 

 

—

 

 

 

3,925,903

 

 

 

5,860,749

 

Accelerated share repurchase agreement

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(412,060

)