Earnings per Share

3 Months Ended

Mar. 31, 2023

13. Earnings per Share

The following table provides the basic and diluted earnings per common share computations.


	Three Months Ended March 31,
(In thousands, except per share data)	2023		2022
Net income (loss) allocated to common stockholders


Income (Loss) from continuing operations attributable to DigitalBridge Group, Inc.	$	(184,136)	$	(165,197)
Income (Loss) from discontinued operations attributable to DigitalBridge Group, Inc.	(13,661)		(81,360)
Net income (loss) attributable to DigitalBridge Group, Inc.	(197,797)		(246,557)

Preferred dividends	(14,676)		(15,759)
Net income (loss) attributable to common stockholders	(212,473)		(262,316)
Net income (loss) allocated to participating securities	(31)		—
Net income (loss) allocated to common stockholders—basic	(212,504)		(262,316)
Interest expense attributable to convertible and exchangeable notes (1)	—		—
Net income (loss) allocated to common stockholders—diluted	$	(212,504)	$	(262,316)
Weighted average common shares outstanding
Weighted average number of common shares outstanding—basic	158,446		142,485
Weighted average effect of dilutive shares (1)(2)(3)	—		—
Weighted average number of common shares outstanding—diluted	158,446		142,485
Income (loss) per share—basic
Income (Loss) from continuing operations	$	(1.25)	$	(1.27)
(Income (Loss) from discontinued operations	(0.09)		(0.57)
Net income (loss) attributable to common stockholders per common share—basic	$	(1.34)	$	(1.84)
Income (loss) per share—diluted
Income (Loss) from continuing operations	$	(1.25)	$	(1.27)
(Income (Loss) from discontinued operations	(0.09)		(0.57)
Net income (loss) attributable to common stockholders per common share—diluted	$	(1.34)	$	(1.84)

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(1) With respect to the assumed conversion or exchange of the Company's outstanding senior notes, the following are excluded from the calculation of diluted earnings per share as their inclusion would be antidilutive: (a) for the three months ended March 31, 2023 and 2022, the effect of adding back interest expense of $4.0 million and $4.8 million, respectively, and 11,697,600 and 16,580,800 of weighted average dilutive common share equivalents, respectively. Also excluded from the calculation of diluted earnings per share was $133.2 million of debt extinguishment loss (Note 8) for the three months ended March 31, 2022.

(2) The calculation of diluted earnings per share excludes the effect of the following as their inclusion would be antidilutive: (a) class A common shares that are contingently issuable in relation to performance stock units (Note 15) with weighted average shares of 32,400 and 2,164,300 for the three months ended March 31, 2023 and 2022, respectively; and (b) class A common shares that are issuable to net settle the exercise of warrants (Note 10) with weighted average shares of 362,800 and 2,937,600 for the three months ended March 31, 2023 and 2022, respectively.

(3) OP Units may be redeemed for registered or unregistered class A common stock on a one-for-one basis and are not dilutive. At March 31, 2023 and 2022, 12,628,900 and 12,728,900 of OP Units, respectively, were not included in the computation of diluted earnings per share in the respective periods presented.