Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2022

Basic earnings (loss) per share is computed by dividing the earnings (loss) attributable to Chord common shareholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings (loss) per share includes the effect of potentially dilutive shares outstanding for the period using the treasury stock method, unless its effect is anti-dilutive. Potentially dilutive shares outstanding include unvested restricted stock awards, RSUs, PSUs, LSUs and warrants. There were no adjustments made to the net income attributable to Chord in the calculation of diluted earnings per share.

The following table summarizes the basic and diluted weighted average common shares outstanding and the weighted average common shares excluded from the calculation of diluted weighted average common shares outstanding due to the anti-dilutive effect for the periods presented:


	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021


	(In thousands)

Weighted average common shares outstanding, basic	19,553	19,904	19,430	19,952
Dilutive effect of share-based awards	1,131	918	1,167	—
Dilutive effect of warrants	306	—	386	—
Weighted average common shares outstanding, diluted	20,990	20,822	20,983	19,952

Anti-dilutive weighted average common shares:
Potential common shares	1,127	2,168	1,218	2,776

For the six months ended June 30, 2021, the Company incurred a net loss from continuing operations, and therefore the calculation of diluted loss per share excludes the anti-dilutive effect of all potentially dilutive shares.