| Schedule of Earnings Per Share, Basic and Diluted |
The following table sets forth the computation of basic and diluted EPS for the three and nine months ended September 30, 2021 and 2020:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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(dollars in thousands, except share and per share amounts) |
| Numerator |
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| Net income (loss) attributable to Landsea Homes Corporation |
$ |
10,797 |
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$ |
3,184 |
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$ |
14,387 |
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$ |
(19,622) |
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| Less: undistributed earnings allocated to participating shares |
(239) |
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— |
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(315) |
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— |
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| Net income (loss) attributable to common stockholders |
$ |
10,558 |
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$ |
3,184 |
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$ |
14,072 |
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$ |
(19,622) |
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| Denominator |
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| Weighted average common shares outstanding - basic |
46,281,091 |
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32,557,303 |
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46,062,200 |
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32,557,303 |
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| Adjustment for weighted average participating shares outstanding |
(1,000,000) |
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— |
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(985,185) |
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— |
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| Adjusted weighted average common shares outstanding under two class method - basic |
45,281,091 |
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32,557,303 |
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45,077,015 |
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32,557,303 |
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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 |
48,800 |
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— |
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69,537 |
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— |
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| Adjusted weighted average common shares outstanding under two class method - diluted |
45,329,891 |
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32,557,303 |
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45,146,552 |
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32,557,303 |
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| Earnings per share |
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| Basic |
$ |
0.23 |
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$ |
0.10 |
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$ |
0.31 |
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$ |
(0.60) |
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| Diluted |
$ |
0.23 |
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$ |
0.10 |
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$ |
0.31 |
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$ |
(0.60) |
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