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EARNINGS PER SHARE AND EQUITY
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND EQUITY
14. EARNINGS PER SHARE AND EQUITY
Basic earnings per common share (“EPS”) is calculated by dividing net income (loss) attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities. Diluted EPS is calculated by dividing net income attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities and potentially dilutive securities. Potentially dilutive securities are calculated using the treasury stock method.
The calculation of basic and diluted EPS is presented below:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands, except share and per share data)2022202120222021
Net loss from continuing operations$(4,147)$(8,512)$(137,412)$(41,762)
Net loss from discontinued operations, net of income taxes(14,782)(30,931)(101,416)(69,165)
Net loss$(18,929)$(39,443)$(238,828)(110,927)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:
Continuing operations— — — — 
Discontinued operations(2,871)(7,363)(18,817)(18,949)
Less: Dividends on preferred shares6,791 6,791 20,373 17,967 
Net loss attributable to shareholders$(22,849)$(38,871)$(240,384)$(109,945)
Weighted Average Common Shares Outstanding - Basic (1)
99,378,771 88,277,897 99,372,016 86,787,072 
Weighted Average Common Shares Outstanding - Diluted (1)
99,378,771 88,277,897 99,372,016 86,787,072 
Loss per share:
Basic
Continuing operations$(0.11)$(0.17)$(1.59)$(0.69)
Discontinued operations$(0.12)$(0.27)$(0.83)$(0.58)
Diluted
Continuing operations$(0.11)$(0.17)$(1.59)$(0.69)
Discontinued operations$(0.12)$(0.27)$(0.83)$(0.58)
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(1) Three and nine months ended September 30, 2022 and 2021 include participating securities which can be converted into a fixed amount of our shares.
For the three months ended September 30, 2022 and 2021, 326,747 and 950,524 shares, respectively, and for the nine months ended September 30, 2022 and 2021, 654,693 and 940,254 shares, respectively, have been excluded from the calculation of Diluted EPS because the impact would be anti-dilutive.
During the nine months ended September 30, 2022, we issued 19,811 common shares to certain directors as compensation.