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