Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share data)	2023		2022		2023		2022
Net income (loss) allocated to common stockholders


Income (Loss) from continuing operations attributable to DigitalBridge Group, Inc.	$	(4,996)	$	(17,702)	$	(189,132)	$	(182,899)
Income (Loss) from discontinued operations attributable to DigitalBridge Group, Inc.	(3,667)		(3,860)		(17,328)		(85,220)
Net income (loss) attributable to DigitalBridge Group, Inc.	(8,663)		(21,562)		(206,460)		(268,119)
Preferred stock repurchases/redemptions (Note 9)	927		—		927		—
Preferred dividends	(14,675)		(15,759)		(29,351)		(31,518)
Net income (loss) attributable to common stockholders	(22,411)		(37,321)		(234,884)		(299,637)
Net income (loss) allocated to participating securities	(29)		—		(60)		—
Net income (loss) allocated to common stockholders—basic	(22,440)		(37,321)		(234,944)		(299,637)
Interest expense attributable to convertible and exchangeable notes (1)	—		—		—		—
Net income (loss) allocated to common stockholders—diluted	$	(22,440)	$	(37,321)	$	(234,944)	$	(299,637)
Weighted average common shares outstanding
Weighted average number of common shares outstanding—basic	158,089		153,983		159,113		148,266
Weighted average effect of dilutive shares (1)(2)(3)	—		—		—		—
Weighted average number of common shares outstanding—diluted	158,089		153,983		159,113		148,266
Income (loss) per share—basic
Income (Loss) from continuing operations	$	(0.12)	$	(0.22)	$	(1.37)	$	(1.45)
Income (Loss) from discontinued operations	(0.02)		(0.02)		(0.11)		(0.57)
Net income (loss) attributable to common stockholders per common share—basic	$	(0.14)	$	(0.24)	$	(1.48)	$	(2.02)
Income (loss) per share—diluted
Income (Loss) from continuing operations	$	(0.12)	$	(0.22)	$	(1.37)	$	(1.45)
Income (Loss) from discontinued operations	(0.02)		(0.02)		(0.11)		(0.57)
Net income (loss) attributable to common stockholders per common share—diluted	$	(0.14)	$	(0.24)	$	(1.48)	$	(2.02)

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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 June 30, 2023 and 2022, the effect of adding back interest expense of $1.7 million and $3.9 million, respectively, and 9,047,200 and 11,697,600 of weighted average dilutive common share equivalents, respectively; and (b) for the six months ended June 30, 2023 and 2022, the effect of adding back $5.6 million and $8.7 million of interest expense, respectively, and 9,749,200 and 14,125,700 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 six months ended June 30, 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 635,600 and 1,907,900 for the three months ended June 30, 2023 and 2022, respectively; and, 317,800 and 2,036,100 for the six months ended June 30, 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 307,800 and 2,210,300 for the three months ended June 30, 2023 and 2022, respectively, and 335,600 and 2,606,100 for the six months ended June 30, 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 June 30, 2023 and 2022, 12,375,800 and 12,628,900 of OP Units, respectively, were not included in the computation of diluted earnings per share in the respective periods presented.