| 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, 2023 and 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
(dollars in thousands, except share and per share amounts) |
| Numerator |
|
|
|
|
|
|
|
| Net income attributable to Landsea Homes Corporation |
$ |
4,947 |
|
|
$ |
14,935 |
|
|
$ |
8,165 |
|
|
$ |
28,000 |
|
| Less: undistributed earnings allocated to participating shares |
— |
|
|
(339) |
|
|
— |
|
|
(619) |
|
| Net income attributable to common stockholders |
$ |
4,947 |
|
|
$ |
14,596 |
|
|
$ |
8,165 |
|
|
$ |
27,381 |
|
|
|
|
|
|
|
|
|
| Denominator |
|
|
|
|
|
|
|
| Weighted average common shares outstanding - basic |
39,891,982 |
|
|
44,081,762 |
|
|
39,944,549 |
|
|
45,208,307 |
|
| Adjustment for weighted average participating shares outstanding |
— |
|
|
(1,000,000) |
|
|
— |
|
|
(1,000,000) |
|
|
|
|
|
|
|
|
|
| Adjusted weighted average common shares outstanding under two class method - basic |
39,891,982 |
|
|
43,081,762 |
|
|
39,944,549 |
|
|
44,208,307 |
|
| Dilutive effect of warrants |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Dilutive effect of share-based awards |
79,749 |
|
|
118,705 |
|
|
115,182 |
|
|
175,100 |
|
| Adjusted weighted average common shares outstanding under two class method - diluted |
39,971,731 |
|
|
43,200,467 |
|
|
40,059,731 |
|
|
44,383,407 |
|
|
|
|
|
|
|
|
|
| Earnings per share |
|
|
|
|
|
|
|
| Basic |
$ |
0.12 |
|
|
$ |
0.34 |
|
|
$ |
0.20 |
|
|
$ |
0.62 |
|
| Diluted |
$ |
0.12 |
|
|
$ |
0.34 |
|
|
$ |
0.20 |
|
|
$ |
0.62 |
|
|