Annual report pursuant to Section 13 and 15(d)

Note 19 - Earnings Per Common Share

v3.22.4
Note 19 - Earnings Per Common Share
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

19. Earnings Per Common Share

 

The table below sets forth the computations of basic and diluted earnings per common share (in thousands, except per share data):

 

   

For the Years Ended December 31,

 
   

2022

   

2021

   

2020

 

Basic and diluted earnings (loss) per common share

                       

Numerator:

                       

Net income (loss)

  $ 27,642       47,066       (47,090 )

Net loss (income) attributable to noncontrolling interests

    378       (155 )     4,803  

Net income (loss) available to shareholders

  $ 28,020       46,911       (42,287 )

Denominator:

                       

Weighted average number of common shares outstanding

    15,471       17,840       19,318  

Basic earnings (loss) per share:

  $ 1.81       2.63       (2.19 )

Diluted earnings (loss) per share:

                       

Numerator:

                       

Net income (loss) available to shareholders

    28,020       46,911       (42,287 )

Denominator:

                       

Basic weighted average number of common shares outstanding

    15,471       17,840       19,318  

Effect of dilutive restricted stock awards

    37              

Diluted weighted average number of common shares outstanding

    15,508       17,840       19,318  

Diluted earnings (loss) per common share:

  $ 1.81       2.63       (2.19 )

 

For periods prior to the spin-off on September 30, 2020, the weighted average shares outstanding was based on the number of shares issued in connection with the spin-off, while for periods subsequent to spin-off, the weighted average shares outstanding is based on the actual weighted average number of shares outstanding.  

 

No restricted stock awards were outstanding during the years ended December 31, 2021 and 2020.