Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.22.4
Earnings Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted EPS for the years presented:

Year Ended December 31,
2022 2021 2020
(in thousands, except share and per share amounts)
Numerator
Net income (loss) attributable to Landsea Homes Corporation $ 73,551  $ 52,786  $ (8,951)
Less: undistributed earnings allocated to participating shares (1,706) (1,161) — 
Net income (loss) attributable to common stockholders $ 71,845  $ 51,625  $ (8,951)
Denominator
Weighted average common shares outstanding - basic 43,052,696  46,193,166  32,557,303 
Adjustment for weighted average participating shares outstanding (1,000,000) (994,444) — 
Adjusted weighted average common shares outstanding under two class method - basic 42,052,696  45,198,722  32,557,303 
Dilutive effect of share-based awards 146,766  51,996  — 
Adjusted weighted average common shares outstanding under two class method - diluted 42,199,462  45,250,718  32,557,303 
Earnings (loss) per share
Basic $ 1.71  $ 1.14  $ (0.27)
Diluted $ 1.70  $ 1.14  $ (0.27)
The Company excluded 2.1 million common stock equivalents from diluted EPS related to antidilutive warrants, options, and share-based awards during the year ended December 31, 2022. The Company excluded 7.1 million common stock equivalents from diluted EPS during the year ended December 31, 2021.