| Earnings Per Share |
Earnings Per Share The following table sets forth the computation of basic and diluted EPS for the years presented:
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Year Ended December 31, |
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2023 |
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2022 |
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2021 |
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(in thousands, except share and per share amounts) |
| Numerator |
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| Net income attributable to Landsea Homes Corporation |
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$ |
29,236 |
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$ |
73,551 |
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$ |
52,786 |
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| Less: undistributed earnings allocated to participating shares |
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— |
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(1,706) |
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(1,161) |
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| Net income attributable to common stockholders |
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$ |
29,236 |
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$ |
71,845 |
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$ |
51,625 |
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| Denominator |
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| Weighted average common shares outstanding - basic |
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38,885,003 |
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43,052,696 |
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46,193,166 |
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| Adjustment for weighted average participating shares outstanding |
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— |
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(1,000,000) |
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(994,444) |
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| Adjusted weighted average common shares outstanding under two class method - basic |
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38,885,003 |
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42,052,696 |
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45,198,722 |
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Dilutive effect of share-based awards (1)
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191,319 |
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146,766 |
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51,996 |
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| Adjusted weighted average common shares outstanding under two class method - diluted |
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39,076,322 |
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42,199,462 |
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45,250,718 |
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| Earnings per share |
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| Basic |
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$ |
0.75 |
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$ |
1.71 |
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$ |
1.14 |
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| Diluted |
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$ |
0.75 |
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$ |
1.70 |
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$ |
1.14 |
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(1) Represents the dilutive effect of outstanding in-the-money options using the treasury stock method and shares expected to be issued under our RSU and PSU programs
The Company excluded 2.2 million, 2.1 million, and 7.1 million common stock equivalents from diluted EPS related to antidilutive warrants, options, and share-based awards during the years ended December 31, 2023, 2022, and 2021, respectively.
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