XML 23 R13.htm IDEA: XBRL DOCUMENT v3.20.2
Income (Loss) Per Common Share
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]    
Loss Per Common Share Income (Loss) Per Common Share
The following table sets forth the computation of basic and diluted income (loss) per common share:
 
Three Months Ended March 31,
 
2020
 
2019
Numerator:
 


 

Net income (loss) attributable to MDC Partners Inc.
$
1,003

 
$
(113
)
Accretion on convertible preference shares
(3,440
)

(2,383
)
Net loss attributable to MDC Partners Inc. common shareholders
$
(2,437
)

$
(2,496
)
Denominator:
 
 
 
Basic weighted average number of common shares outstanding
72,397,661


60,258,102

Diluted weighted average number of common shares outstanding
72,397,661


60,258,102

Basic
$
(0.03
)

$
(0.04
)
Diluted
$
(0.03
)
 
$
(0.04
)

Anti-dilutive stock awards 2,835,770 1,633,464

Restricted stock and restricted stock unit awards of 2,203,717 and 257,280 as of March 31, 2020 and 2019 respectively, are excluded from the computation of diluted income (loss) per common share because the performance contingency necessary for vesting has not been met as of the reporting date or all the terms and conditions to establish a grant date were not yet known. In addition, there were 145,000 Preference Shares outstanding which were convertible into 27,189,411 and 25,118,813 Class A common shares at March 31, 2020 and 2019, respectively. These Preference Shares were anti-dilutive for each period presented in the table above and are therefore excluded from the diluted income (loss) per common share calculation. 		Income (Loss) Per Common Share
The following table sets forth the computation of basic and diluted income (loss) per common share:
 
 
Twelve Months Ended December 31,
 
 
2019
 
2018
 
2017
Numerator:
 
 
 
 
 
 
Net income (loss) attributable to MDC Partners Inc.
 
$
(5,253
)
 
$
(130,007
)
 
$
241,086

Accretion on convertible preference shares
 
(12,304
)
 
(8,355
)
 
(6,352
)
Net income allocated to convertible preference shares
 
—

 
—

 
(29,902
)
Net income (loss) attributable to MDC Partners Inc. common shareholders
 
$
(17,557
)
 
$
(138,362
)
 
$
204,832

 
 
 
 
 
 
 
Adjustment to net income allocated to convertible preference shares
 
—

 
—

 
106

Numerator for dilutive income (loss) per common share:
 
 
 
 
 
 
Net income (loss) attributable to MDC Partners Inc. common shareholders
 
$
(17,557
)
 
$
(138,362
)
 
$
204,938

Denominator:
 
 
 
 
 
 
Basic weighted average number of common shares outstanding
 
69,132,100

 
57,218,994

 
55,255,797

Effect of dilutive securities:
 
 
 
 
 
 
Impact of stock options and non-vested stock under employee stock incentive plans
 
—

 
—

 
225,989

Diluted weighted average number of common shares outstanding
 
69,132,100

 
57,218,994

 
55,481,786

Basic
 
$
(0.25
)
 
$
(2.42
)
 
$
3.71

Diluted
 
$
(0.25
)
 
$
(2.42
)
 
$
3.70


Anti-dilutive stock awards                  5,450,426 1,442,518      0

Restricted stock and restricted stock unit awards of 135,386, 1,012,637 and 1,443,921 as of December 31, 2019, 2018 and 2017 respectively, which are contingent upon the Company meeting a cumulative three year earnings target and contingent upon continued employment, are excluded from the computation of diluted income per common share as the contingencies were not satisfied at December 31, 2019, 2018 and 2017, respectively. In addition, there were 145,000, 95,000, and 95,000 Preference Shares outstanding which were convertible into 26,656,285, 10,970,714, and 10,135,244 Class A common shares at December 31, 2019, 2018, and 2017, respectively. These Preference Shares were anti-dilutive for each period presented in the table above and are therefore excluded from the diluted income (loss) per common share calculation.