Note 13 - Earnings Per Share

3 Months Ended

Mar. 31, 2021

NOTE

13.

Earnings Per Share

The Company uses the treasury stock method of calculating earnings per share because certain of the Company's unvested stock-based awards qualify as participating securities.

The Company's basic earnings per share attributable to common stockholders is computed as (i) net income as reported attributable to common stockholders, (ii) less participating basic earnings (iii) divided by weighted average basic common shares outstanding. The Company's diluted earnings per share attributable to common stockholders is computed as (i) basic earnings attributable to common stockholders, (ii) plus reallocation of participating earnings (iii) divided by weighted average diluted shares outstanding. The components of basic and diluted earnings per share attributable to common stockholders are as follows (in thousands):

	Successor
	Three Months Ended March 31, 2020
Net income attributable to common stockholders	$	4,744
Participating share-based earnings (a)		-
Basic and diluted net income attributable to common stockholders	$	4,744

Basic weighted average shares outstanding		92,592
Dilution attributable to stock-based compensation awards		2,890
Diluted weighted average shares outstanding		95,482

(a)

Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unexercised stock option awards do

not

participate in undistributed net losses as they are

not

contractually obligated to do so.

The calculation for weighted average shares reflects shares outstanding over the reporting period based on the actual number of days the shares were outstanding.