EARNINGS PER SHARE AND EQUITY

9 Months Ended

Sep. 30, 2022

13. EARNINGS PER SHARE AND EQUITY

Basic earnings per common share (“EPS”) is calculated by dividing net income 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 data)	2022		2021		2022		2021
Net income attributable to shareholders	$	58,798	$	46,538	$	25,302	$	89,048
Weighted average shares outstanding:
Basic		105.2		100.0		103.5		100.0
Diluted		105.2		100.0		103.5		100.0
Basic and Diluted Net earnings per share	$	558.92	$	465.38	$	244.46	$	890.48