Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Earnings Per Common Share

v3.23.1
Note 12 - Earnings Per Common Share
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

12. Earnings Per Share

 

Basic earnings per share is computed by dividing net income available to BBX Capital’s shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed in the same manner as basic earnings per share but also reflects potential dilution that could occur if restricted stock awards issued by BBX Capital were vested. Restricted stock awards, if dilutive, are considered in the weighted average number of dilutive common shares outstanding based on the treasury stock method.

 

 

 

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

 

   

For the Three Months Ended

 
   

March 31,

 
   

2023

   

2022

 

Basic earnings per share

               

Numerator:

               

Net income (loss)

  $ 7,523     $ (1,926 )

Net loss attributable to noncontrolling interests

    380       110  

Net income available to shareholders

  $ 7,903       (1,816 )

Denominator:

               

Basic weighted average number of common shares outstanding

    14,354       15,475  

Basic earnings (loss) per share

  $ 0.55       (0.12 )

Diluted earnings (loss) per share

               

Numerator:

               

Net income available to shareholders

    7,903       (1,816 )

Denominator:

               

Basic weighted average number of common shares outstanding

    14,354       15,475  

Effect of dilutive restricted stock awards

    23        

Diluted weighted average number of common shares outstanding

    14,377       15,475  

Diluted earnings (loss) per share

  $ 0.55       (0.12 )

 

During the three months ended March 31, 2023, 517,702 of outstanding unvested restricted stock awards were dilutive and included in the computation of diluted earnings per share.  During the three months ended March 31, 2022, 776,552 of outstanding unvested restricted stock awards were anti-dilutive and not included in the computation of diluted earnings per share.