Earnings Per Share |
6. EARNINGS PER SHARE A reconciliation of reported net income (loss) to net income (loss) used in calculating earnings per share (“EPS”) as well as a reconciliation from basic to diluted shares follows:
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
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(in thousands) |
Net income (loss) (numerator): |
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Income (loss) from continuing operations |
$ |
(48,083) |
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$ |
(2,848) |
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$ |
98,728 |
(Income) loss from continuing operations attributable to unvested shares |
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— |
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21 |
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(1,231) |
Numerator for basic |
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(48,083) |
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(2,827) |
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97,497 |
(Income) loss from continuing operations attributable to unvested shares |
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— |
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(21) |
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— |
Numerator for dilutive |
$ |
(48,083) |
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$ |
(2,848) |
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$ |
97,497 |
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Income (loss) from discontinued operations, net of tax |
$ |
(98) |
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$ |
5,411 |
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$ |
(496) |
(Income) loss from discontinued operations attributable to unvested shares |
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— |
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(39) |
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6 |
Numerator for basic |
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(98) |
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5,372 |
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(490) |
(Income) loss from discontinued operations attributable to unvested shares |
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— |
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39 |
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— |
Numerator for dilutive |
$ |
(98) |
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$ |
5,411 |
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$ |
(490) |
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Net income (loss) |
$ |
(48,181) |
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$ |
2,563 |
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$ |
98,232 |
Net (income) loss attributable to unvested shares |
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— |
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(18) |
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(1,225) |
Numerator for basic |
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(48,181) |
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2,545 |
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97,007 |
Net (income) loss attributable to unvested shares |
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— |
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18 |
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— |
Numerator for dilutive |
$ |
(48,181) |
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$ |
2,563 |
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$ |
97,007 |
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Weighted average shares (denominator): |
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Basic weighted average shares outstanding |
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57,594 |
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59,143 |
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59,248 |
Effect of dilutive securities |
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— |
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— |
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749 |
Diluted weighted average shares outstanding |
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57,594 |
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59,143 |
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59,997 |
Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive |
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3,545 |
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603 |
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1,316 |
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