Year Ended December 31,

2022

2021

(Dollars in thousands, except per share amounts)

Basic Earnings Per Share:

Net income

$

37,034

$

3,754

Less: Redeemable preferred stock dividends and accretion

(36,453

)

(34,050

)

Less: European noncontrolling redeemable equity dividend

(53

)

(42

)

Basic numerator

$

528

$

(30,338

)

Basic earnings (loss) per share

$

0.02

$

(1.17

)

Weighted average shares outstanding – Basic

26,839

25,995

Diluted Earnings Per Share:

Net income

$

37,034

$

3,754

Less: Redeemable preferred stock dividends and accretion

(36,453

)

(34,050

)

Less: European noncontrolling redeemable equity dividend

(53

)

(42

)

Diluted numerator

$

528

$

(30,338

)

Diluted earnings (loss) per share

$

0.02

$

(1.17

)

Weighted average shares outstanding – Basic

26,839

25,995

Dilutive effect of common share equivalents

751

—

Weighted average shares outstanding – Diluted

27,590

25,995