EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2022

EARNINGS PER SHARE

The table below shows the calculation of earnings per share attributable to Unit Corporation using the treasury stock method for the periods indicated:


	Earnings (Loss) (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
Year ended December 31, 2022
Basic earnings attributable to Unit Corporation per common share	$	148,369	9,874	$	15.03
Effect of dilutive restricted stock units and stock options (1)	—		164	(0.25)
Diluted earnings attributable to Unit Corporation per common share	$	148,369	10,038	$	14.78
Year ended December 31, 2021
Basic earnings attributable to Unit Corporation per common share	$	60,647	11,405	$	5.32
Effect of dilutive restricted stock units (2)	—		115	(0.06)
Diluted loss attributable to Unit Corporation per common share	$	60,647	11,520	$	5.26

1.The diluted earnings per share calculation for the year ended December 31, 2022 excludes the effects related to 355,827 average outstanding stock options with a $45.00 exercise price and 1,822,206 average warrants with a $63.74 exercise price because their inclusion would be antidilutive.

2.The diluted earnings per share calculation for the year ended December 31, 2021 excludes the effect related to 361,418 average outstanding stock options with a $45.00 exercise price because their inclusion would be antidilutive.