| 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:
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Successor |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2022 |
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Numerator - Basic: |
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Net loss |
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$ |
(65,329,041) |
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$ |
(1,029,225,234) |
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Less: Net loss attributable to Non-controlling interest |
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(54,155,858) |
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(853,124,598) |
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Net loss attributable to Class A common stockholders - Basic |
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(11,173,183) |
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(176,100,636) |
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Numerator - Diluted: |
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Net loss attributable to Class A Common Stockholders - Basic |
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$ |
(11,173,183) |
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$ |
(176,100,636) |
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Add: Net loss and tax effect attributable to Non-controlling interest |
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(54,155,858) |
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(853,124,598) |
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Net loss attributable to Class A common stockholders - Diluted |
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(65,329,041) |
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(1,029,225,234) |
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Denominator - Basic: |
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Weighted average Class A common shares outstanding - Basic |
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41,578,890 |
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41,578,890 |
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Loss per share attributable to Class A common shareholders - Basic |
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$ |
(0.27) |
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$ |
(4.24) |
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Denominator - Diluted: |
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Weighted average Class A common shares outstanding - Basic |
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41,578,890 |
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41,578,890 |
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Weighted average effect of dilutive Class V shares |
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201,457,191 |
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199,684,102 |
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Weighted average Class A common shares outstanding - Diluted |
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243,036,081 |
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241,262,992 |
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Loss per share attributable to Class A common shareholders - Diluted |
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$ |
(0.27) |
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$ |
(4.27) |
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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:
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Successor |
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As of September 30, 2022 |
Public Warrants |
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10,591,605 |
Private Warrants |
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227,500 |
Restricted Shares |
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494,127 |
Options |
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2,134,279 |
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13,447,511 |
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