Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2
Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and six months ended June 30, 2022 and 2021:

Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
(dollars in thousands, except share and per share amounts)
Numerator
Net income attributable to Landsea Homes Corporation $ 14,935  $ 10,664  $ 28,000  $ 3,590 
Less: undistributed earnings allocated to participating shares (339) (236) (619) (78)
Net income attributable to common stockholders $ 14,596  $ 10,428  $ 27,381  $ 3,512 
Denominator
Weighted average common shares outstanding - basic 44,081,762  46,281,091  45,208,307  45,800,267 
Adjustment for weighted average participating shares outstanding (1,000,000) (1,000,000) (1,000,000) (966,667)
Adjusted weighted average common shares outstanding under two class method - basic 43,081,762  45,281,091  44,208,307  44,833,600 
Dilutive effect of warrants —  —  —  — 
Dilutive effect of share-based awards 118,705  —  175,100  3,854 
Adjusted weighted average common shares outstanding under two class method - diluted 43,200,467  45,281,091  44,383,407  44,837,454 
Earnings per share
Basic $ 0.34  $ 0.23  $ 0.62  $ 0.08 
Diluted $ 0.34  $ 0.23  $ 0.62  $ 0.08