| Earnings Per Share |
Earnings Per Share The following table sets forth the computation of basic and diluted EPS for the years ended December 31, 2021, 2020, and 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2021 |
|
2020 |
|
2019 |
|
|
(in thousands, except share and per share amounts) |
| Numerator |
|
|
|
|
|
|
| Net income (loss) attributable to Landsea Homes Corporation |
|
$ |
52,786 |
|
|
$ |
(8,951) |
|
|
$ |
17,200 |
|
| Less: undistributed earnings allocated to participating shares |
|
(1,161) |
|
|
— |
|
|
— |
|
| Net income (loss) attributable to common stockholders |
|
$ |
51,625 |
|
|
$ |
(8,951) |
|
|
$ |
17,200 |
|
|
|
|
|
|
|
|
| Denominator |
|
|
|
|
|
|
| Weighted average common shares outstanding - basic |
|
46,193,166 |
|
|
32,557,303 |
|
|
32,557,303 |
|
| Adjustment for weighted average participating shares outstanding |
|
(994,444) |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
| Adjusted weighted average common shares outstanding under two class method - basic |
|
45,198,722 |
|
|
32,557,303 |
|
|
32,557,303 |
|
| Dilutive effect of warrants |
|
— |
|
|
— |
|
|
— |
|
| Dilutive effect of share-based awards |
|
51,996 |
|
|
— |
|
|
— |
|
| Adjusted weighted average common shares outstanding under two class method - diluted |
|
45,250,718 |
|
|
32,557,303 |
|
|
32,557,303 |
|
|
|
|
|
|
|
|
| Earnings per share |
|
|
|
|
|
|
| Basic |
|
$ |
1.14 |
|
|
$ |
(0.27) |
|
|
$ |
0.53 |
|
| Diluted |
|
$ |
1.14 |
|
|
$ |
(0.27) |
|
|
$ |
0.53 |
|
Warrants are excluded from the calculation of diluted EPS as they are antidilutive. We excluded 7.1 million common stock unit equivalents from our diluted EPS during the year ended December 31, 2021.
|