| 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 nine months ended September 30, 2023 and 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
(dollars in thousands, except share and per share amounts) |
| Numerator |
|
|
|
|
|
|
|
| Net income attributable to Landsea Homes Corporation |
$ |
8,596 |
|
|
$ |
19,970 |
|
|
$ |
16,761 |
|
|
$ |
47,970 |
|
| Less: undistributed earnings allocated to participating shares |
— |
|
|
(487) |
|
|
— |
|
|
(1,094) |
|
| Net income attributable to common stockholders |
$ |
8,596 |
|
|
$ |
19,483 |
|
|
$ |
16,761 |
|
|
$ |
46,876 |
|
|
|
|
|
|
|
|
|
| Denominator |
|
|
|
|
|
|
|
| Weighted average common shares outstanding - basic |
38,336,100 |
|
|
40,935,152 |
|
|
39,402,507 |
|
|
43,768,269 |
|
| Adjustment for weighted average participating shares outstanding |
— |
|
|
(1,000,000) |
|
|
— |
|
|
(1,000,000) |
|
|
|
|
|
|
|
|
|
| Adjusted weighted average common shares outstanding under two class method - basic |
38,336,100 |
|
|
39,935,152 |
|
|
39,402,507 |
|
|
42,768,269 |
|
| Dilutive effect of warrants |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Dilutive effect of share-based awards |
104,292 |
|
|
162,117 |
|
|
146,528 |
|
|
175,602 |
|
| Adjusted weighted average common shares outstanding under two class method - diluted |
38,440,392 |
|
|
40,097,269 |
|
|
39,549,035 |
|
|
42,943,871 |
|
|
|
|
|
|
|
|
|
| Earnings per share |
|
|
|
|
|
|
|
| Basic |
$ |
0.22 |
|
|
$ |
0.49 |
|
|
$ |
0.43 |
|
|
$ |
1.10 |
|
| Diluted |
$ |
0.22 |
|
|
$ |
0.49 |
|
|
$ |
0.42 |
|
|
$ |
1.09 |
|
|