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Income (Loss) Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Income (Loss) Per Share

NOTE 15 — Income (Loss) Per Share

Basic net income (loss) per share of Class A and Class D common stock is computed by dividing net income (loss) attributable to Dutch Bros Inc. by the weighted-average number of shares of Class A and Class D common stock outstanding during the period.

Diluted income (loss) per share of Class A and Class D common stock is computed by dividing loss attributable to the Company, adjusted for the assumed exchange of all potentially dilutive instruments for Class A common stock, by the weighted-average number of shares of Class A and Class D common stock outstanding, adjusted to give effect to potentially dilutive elements. Share counts used in the diluted income (loss) per share calculations are adjusted for the deemed repurchases provided for in the treasury stock method for restricted stock awards and restricted stock units, and under the if-converted method for the outstanding convertible Class B and Class C common stock.

The following tables set forth the numerators and denominators used to compute basic and diluted income (loss) per share of Class A and Class D common stock for the periods presented. The basic and diluted loss per share for the three and nine months ended September 30, 2021 reflects only the period from September 14, 2021 to September 30, 2021, which represents the period from the date of the Reorganization Transactions during which the Company had outstanding Class A and Class D common stock.

						Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands)						2022						2021						2022						2021
Numerator:
Net income (loss)						$	1,594					$	(116,830)					$	(16,436)					$	(109,763)
Less: net loss attributable to Dutch Bros OpCo before Reorganization Transactions						—						(74,441)						—						(67,374)
Less: net loss attributable to non-controlling interests						(169)						(31,312)						(12,346)						(31,312)
Net income (loss) attributable to Dutch Bros Inc.						$	1,763					(11,077)						$	(4,090)					(11,077)

						Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands, except per share amounts)						2022						2021						2022						2021
Basic net income (loss) per share attributable to common stockholders
Numerator:
Net income (loss) attributable to Dutch Bros Inc.						$	1,763					$	(11,077)					$	(4,090)					$	(11,077)
Denominator:
Weighted-average number of shares of Class A and Class D common stock outstanding - basic						53,118						45,807						50,719						45,807
Basic net income (loss) per share attributable to common stockholders						$	0.03					(0.24)						$	(0.08)					$	(0.24)

						Three Months Ended September 30,												Nine Months Ended September 30,
(in thousands, except per share amounts)						2022						2021						2022						2021
Diluted net income (loss) per share attributable to common stockholders
Numerator:
Undistributed income (loss) for basic computation						$	1,763					$	(11,077)					$	(4,090)					$	(11,077)
Decrease in net income attributable to common stockholders upon conversion of potentially dilutive instruments						(1)						—						—						—
Allocation of undistributed income (loss)						$	1,762					$	(11,077)					$	(4,090)					$	(11,077)
Denominator:
Number of shares used in basic computation						53,118						45,807						50,719						45,807
Add: weighted-average effect of dilutive securities
Restricted stock awards						1,300						—						—						—
Weighted-average number of shares of Class A and Class D common stock outstanding used to calculate diluted net income (loss) per share						54,418						45,807						50,719						45,807
Diluted net income (loss) per share attributable to common stockholders						$	0.03					$	(0.24)					$	(0.08)					$	(0.24)

Shares of the Company’s Class B and Class C common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted income (loss) per share of Class B and Class C common stock under the two-class method has not been presented.

The following common stock equivalents were excluded from diluted income (loss) per share in the periods presented because they were anti-dilutive:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2022						2021						2022						2021
Restricted stock awards						—						4,000						2,667						4,000
Restricted stock units						555						597						555						597
Total anti-dilutive securities						555						4,597						3,222						4,597

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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