Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2023

NOTE 11. Net Income (Loss) Per Common Share

Basic net income (loss) per common share (“EPS”) is computed based upon the weighted average number of common shares outstanding. Diluted net income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the impact of common shares issuable from the assumed conversion of stock options, certain performance restricted stock units, and unvested restricted stock units. Only those instruments having a dilutive impact on basic loss per share are included in diluted loss per share during the periods presented.

The following table illustrates the computation of basic and diluted EPS (in thousands, except per share amounts):


	Three Months Ended March 31,
	2023		2022
Numerator
Income (loss) from continuing operations	$	15,959	$	726
Noncontrolling interests’ share in (earnings) loss from continuing operations		63		75
Net income (loss) attributable to common stockholders before discontinued operations		16,022		801
Income (loss) from discontinued operations		—		429
Net income (loss) attributable to common stockholders	$	16,022	$	1,230
Denominator
Weighted average shares outstanding – basic		413,136		401,964
Weighted average shares outstanding – diluted		426,586		424,065
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	0.04	$	—
Net income (loss) per common share from discontinued operations, basic and diluted	$	—	$	—

The following table provides the weighted-average potential shares of common stock that were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive (in thousands):


	Three Months Ended March 31,
	2023		2022
Stock options - service only condition		2,098		1,503
Equity awards - market and/or performance condition		4,570		909
Restricted stock units		22		89