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Earnings Per Common Share | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share:
| Three Months Ended |  |
| March 31, |  |
| 2022 |  | 2021 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 197,432 |  |  | $ | 475,708 |  |  |  |  |
Amounts attributable to noncontrolling interests | (1,632) |  |  | (37,552) |  |  |  |  |
Net income (loss) available to Arch | 195,800 |  |  | 438,156 |  |  |  |  |
Preferred dividends | (10,184) |  |  | (10,403) |  |  |  |  |
Net income (loss) available to Arch common shareholders | $ | 185,616 |  |  | $ | 427,753 |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted average common shares and common share equivalents outstanding — basic | 374,243,812 |  |  | 400,807,895 |  |  |  |  |
Effect of dilutive common share equivalents: |  |  |  |  |  |  |
Nonvested restricted shares | 2,659,922 |  |  | 2,230,794 |  |  |  |  |
Stock options (1) | 7,290,629 |  |  | 6,184,564 |  |  |  |  |
Weighted average common shares and common share equivalents outstanding — diluted | 384,194,363 |  |  | 409,223,253 |  |  |  |  |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 0.50 |  |  | $ | 1.07 |  |  |  |  |
Diluted | $ | 0.48 |  |  | $ | 1.05 |  |  |  |  |
(1) Certain stock options were not included in the computation of diluted earnings per share where the exercise price of the stock options exceeded the average market price and would have been anti-dilutive or where, when applying the treasury stock method to in-the-money options, the sum of the proceeds, including unrecognized compensation, exceeded the average market price and would have been anti-dilutive. For the 2022 first quarter and 2021 first quarter, the number of stock options excluded were 769,026 and 2,400,082, respectively.

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