Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2024


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 net income (loss) per share are included in diluted net income (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,
	2024		2023
Numerator
Income (loss) from continuing operations	$	3,247	$	9,951
Noncontrolling interests’ share in (earnings) loss from continuing operations	(30)		63
Net income (loss) attributable to common stockholders before discontinued operations	3,217		10,014
Income (loss) from discontinued operations	(9,281)		6,008
Net income (loss) attributable to common stockholders	$	(6,064)	$	16,022
Denominator
Weighted average shares outstanding – basic	408,938		413,136
Weighted average shares outstanding – diluted	413,437		426,586
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	0.01	$	0.02
Net income (loss) per common share from discontinued operations, basic and diluted	$	(0.02)	$	0.02

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):


	March 31,
	2024	2023
Stock options	6,616	2,098
Restricted stock units	9,657	4,592