Earnings Per Share

12 Months Ended

Dec. 31, 2020

6. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share for the years ended December 31, 2020, 2019 and 2018 (in thousands, except per share amounts):

	Year Ended December 31,
	2020			2019		2018
Numerator:
Income from continuing operations attributable to Acadia Healthcare Company, Inc.	$	140,258		$	52,111	$	57,224
(Loss) income from discontinued operations		(812,390	)		56,812		(232,974	)
Net (loss) income attributable to Acadia Healthcare Company, Inc.	$	(672,132	)	$	108,923	$	(175,750	)
Denominator:
Weighted average shares outstanding for basic earnings per share		87,875			87,612		87,288
Effects of dilutive instruments		720			204		127
Shares used in computing diluted earnings per common share		88,595			87,816		87,415

Basic earnings (loss) per share attributable to Acadia Healthcare Company, Inc. stockholders:
Income from continuing operations attributable to Acadia Healthcare Company, Inc.	$	1.60		$	0.59	$	0.66
(Loss) income from discontinued operations		(9.25	)		0.65		(2.67	)
Net (loss) income attributable to Acadia Healthcare Company, Inc.	$	(7.65	)	$	1.24	$	(2.01	)

Diluted earnings (loss) per share attributable to Acadia Healthcare Company, Inc. stockholders:
Income from continuing operations attributable to Acadia Healthcare Company, Inc.	$	1.58		$	0.59	$	0.65
(Loss) income from discontinued operations		(9.17	)		0.65		(2.66	)
Net (loss) income attributable to Acadia Healthcare Company, Inc.	$	(7.59	)	$	1.24	$	(2.01	)

Approximately 1.9 million, 2.2 million and 1.9 million shares of common stock issuable upon exercise of outstanding stock options were excluded from the calculation of diluted earnings per share for the years ended December 31, 2020, 2019 and 2018, respectively, because their effect would have been anti-dilutive.