Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) per Share

v3.22.2.2
Earnings (Loss) per Share
9 Months Ended
Sep. 30, 2022
Earnings (Loss) per Share  
Earnings (Loss) per Share

Note 19: Earnings (Loss) per Share

Loss per Share – Successor Period

Basic earnings per share is calculated as net income divided by the average number of shares of common stock outstanding. Diluted earnings per share assumes, when dilutive, the issuance of the net incremental shares from restricted shares. The following is a reconciliation of the denominators of the basic and diluted per share computations for net income:

    

Successor

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

2022

    

2022

Numerator - Basic:

Net loss

$

(65,329,041)

 

$

(1,029,225,234)

Less: Net loss attributable to Non-controlling interest

 

(54,155,858)

(853,124,598)

Net loss attributable to Class A common stockholders - Basic

 

(11,173,183)

(176,100,636)

Numerator - Diluted:

Net loss attributable to Class A Common Stockholders - Basic

$

(11,173,183)

$

(176,100,636)

Add: Net loss and tax effect attributable to Non-controlling interest

(54,155,858)

(853,124,598)

Net loss attributable to Class A common stockholders - Diluted

(65,329,041)

(1,029,225,234)

Denominator - Basic:

Weighted average Class A common shares outstanding - Basic

 

41,578,890

41,578,890

Loss per share attributable to Class A common shareholders - Basic

 

$

(0.27)

$

(4.24)

Denominator - Diluted:

Weighted average Class A common shares outstanding - Basic

41,578,890

41,578,890

Weighted average effect of dilutive Class V shares

201,457,191

199,684,102

Weighted average Class A common shares outstanding - Diluted

243,036,081

241,262,992

Loss per share attributable to Class A common shareholders - Diluted

$

(0.27)

$

(4.27)

The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive. The liability-classified Public and Private Warrants are out of the money and thus have no impact on diluted EPS:

    

Successor

As of September 30, 2022

Public Warrants

 

10,591,605

Private Warrants

 

227,500

Restricted Shares

 

494,127

Options

 

2,134,279

 

13,447,511