Earnings Per Share

9 Months Ended

Sep. 30, 2023

4. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except per share amounts):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2023			2022		2023			2022
Numerator:
Net (loss) income attributable to Acadia Healthcare Company, Inc.	$	(217,710	)	$	71,099	$	(79,396	)	$	212,015
Denominator:
Weighted average shares outstanding for basic earnings per share		91,168			89,833		90,852			89,607
Effects of dilutive instruments		—			1,890		—			2,061
Shares used in computing diluted earnings per common share		91,168			91,723		90,852			91,668

(Loss) earnings per share attributable to Acadia Healthcare Company, Inc. stockholders:
Basic	$	(2.39	)	$	0.79	$	(0.87	)	$	2.37
Diluted	$	(2.39	)	$	0.78	$	(0.87	)	$	2.31

For the three and nine months ended September 30, 2023, approximately 0.5 million and 0.8 million, respectively, outstanding shares of restricted stock and shares of common stock issuable upon exercise of outstanding stock option awards have been included in the calculation of weighted-average shares outstanding-diluted. These shares are excluded from the calculation of diluted earnings per share in the condensed consolidated statement of operations because the net loss for both the three and nine months ended September 30, 2023 causes such securities to be anti-dilutive. Approximately 0.4 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for both the three and nine months ended September 30, 2023, respectively, because their effect would have been anti-dilutive. Approximately 0.1 million and 0.6 million shares of common stock issuable upon exercise of outstanding stock option awards were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2022, respectively, because their effect would have been anti-dilutive.