Earnings Per Common Share (Notes)

9 Months Ended

Sep. 30, 2022

(Loss) Earnings Per Common Share

Summarized basic and diluted (loss) earnings per common share were calculated as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2022		2021		2022		2021
Numerator:
Net (loss) earnings	$	(5,778)	$	21,267	$	9,710	$	125,128
Denominator:
Weighted-average shares outstanding	55,380		58,267		54,376		57,603
Effect of dilutive stock awards(1) (2)	—		9,927		5,422		9,853
Weighted-average dilutive shares	55,380		68,194		59,798		67,456

Basic (loss) earnings per common share	$	(0.10)	$	0.36	$	0.18	$	2.17
Diluted (loss) earnings per common share(1) (2)	$	(0.10)	$	0.31	$	0.16	$	1.85
Anti-dilutive securities excluded from diluted (loss) earnings per common share:
Anti-dilutive restricted share units	465		—		81		110
Anti-dilutive performance share units	941		295		197		295
Anti-dilutive stock options	865		33		279		33

(1) Weighted-average dilutive shares outstanding for the nine months ended September 30, 2022 and 2021, includes approximately 3.7 million and 8.1 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements.

(2) There was no dilutive effect to the loss per common share for the three months ended September 30, 2022 due to the net loss incurred for the period.