Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 7. Earnings Per Share

The Company has 20 million voting common shares authorized, two million non-voting common shares authorized, and two million preferred shares authorized. There were 3,727,976 voting common shares issued and outstanding as of September 30, 2022, and 3,737,564 issued and outstanding as of September 30, 2021, and no nonvoting or preferred shares outstanding as of those dates.

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
(In thousands, except per share amounts)
Numerator:
Net income (loss) attributable to Midwest Holding, Inc.	$	7,431	$	(3,064)	$	16,883	$	(9,656)
Denominator:
Weighted average common shares outstanding		3,736,933		3,737,564		3,791,082		3,737,564
Effect of dilutive securities:
Stock options and deferred compensation agreements		52,000		—		52,000		—
Denominator for earnings (loss) per common share		3,788,933		3,737,564		3,843,082		3,737,564
Income (loss) per common share	$	1.99	$	(0.82)	$	4.52	$	(2.58)
Income (loss) per common share, diluted	$	1.96	$	(0.82)	$	4.45	$	(2.58)