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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
19 — Earnings Per Share

Basic earnings per share is calculated under the Two-Class Method using Net income available to Class A Common Stockholders, divided by the weighted average number of shares of Class A Common Stock outstanding during the period.

Diluted earnings per share is calculated using diluted Net income available to Class A Common Stockholders divided by the weighted average number of shares of Class A Common Stock outstanding during the period, adjusted to give effect to potentially dilutive securities.

The Company's potentially dilutive securities consist of (i) unvested share-based compensation awards, shares issuable under the employee stock purchase plan, and unexercised warrants (prior to completion of the Warrant Exchange) with the dilutive effect calculated using the Treasury Stock Method, and (ii) non-controlling interest THG units and Series A Convertible Preferred Stock, with the dilutive effect calculated using the more dilutive of the If-Converted Method and the Two-Class Method.
The following table summarizes the basic and diluted earnings per share calculations for the three and nine months ended September 30, 2024 and 2023:

Three months ended
September 30,		Nine months ended
September 30,
2024202320242023
in thousands (except per share amounts)
Earnings Per Share of Class A Common Stock, Basic
Net income available to Class A Common Stockholders$2,798 $3,255 $7,753 $3,712 
Weighted average shares of Class A Common Stock outstanding89,691 84,479 86,689 84,042 
Net income per share of Class A Common Stock, basic$0.03 $0.04 $0.09 $0.04 
Earnings Per Share of Class A Common Stock, Diluted
Net income available to Class A Common Stockholders$2,798 $3,255 $7,802 $3,712 
Weighted average shares of Class A Common Stock outstanding89,691 84,479 87,601 84,042 
Net income per share of Class A Common Stock, Diluted$0.03 $0.04 $0.09 $0.04 
Net Income Available to Class A Common Stockholders
Net income$19,007 $18,623 $69,863 $19,137 
Net income attributable to non-controlling interest(14,122)(13,269)(55,951)(13,477)
Accretion of Series A Convertible Preferred Stock(1,875)(1,838)(5,552)(1,838)
Undistributed earnings allocated to Series A Convertible Preferred Stock(212)(261)(607)(110)
Net income available to Class A Common Stockholders, Basic2,798 3,255 7,753 3,712 
Adjustment for potentially dilutive THG units— — — — 
Adjustment for potentially dilutive Series A Convertible Preferred Stock— — — — 
Adjustment for potentially dilutive share-based compensation awards— — 49 — 
Adjustment for potentially dilutive warrants— — — — 
Net income available to Class A Common Stockholders, Diluted$2,798 $3,255 $7,802 $3,712 
Weighted Average Shares of Class A Common Stock Outstanding
Weighted average shares of Class A Common Stock outstanding, Basic89,691 84,479 86,689 84,042 
Adjustment for potentially dilutive THG units— — — — 
Adjustment for potentially dilutive Series A Convertible Preferred Stock— — — — 
Adjustment for potentially dilutive share-based compensation awards— — 912 — 
Adjustment for potentially dilutive warrants— — — — 
Weighted average shares of Class A Common Stock outstanding, Diluted89,691 84,479 87,601 84,042 
The following table summarizes the weighted average potential shares of Class A Common Stock excluded from diluted earnings per share of Class A Common Stock as their effect would be anti-dilutive:

Three months ended
September 30,		Nine months ended
September 30,
2024202320242023
in thousands
THG units
255,252 255,499 255,378 255,579 
Series A Convertible Preferred Stock6,785 6,785 6,785 2,485 
Unvested shares associated with share-based compensation awards7,746 8,509 3,918 7,480 
Warrants— 19,484 — 19,484 
Total 269,783 290,277 266,081 285,028