Earnings Per Share

6 Months Ended

Jun. 30, 2022

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):


	Three Months Ended June 30,
		2022				2021
		Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net income per common share:
Net loss from continuing operations		$	(46,436)	$	(46,436)	$	(23,045)	$	(23,045)
Net income available to participating securities (1)		—		—		—		—
1.75% Convertible Notes interest expense (after-tax) (2)		—		—		—		—
Net loss available to the Company’s common shareholders from continuing operations		$	(46,436)	$	(46,436)	$	(23,045)	$	(23,045)
Denominator:
Weighted-average outstanding shares of common stock		46,978,709		46,978,709		44,613,533		44,613,533
Dilutive effect of:
Equity incentive plans		—		—		—		—
Convertible debt (2)		—		—		—		—
Common stock and common stock equivalents		46,978,709		46,978,709		44,613,533		44,613,533

Net loss per share from continuing operations:		$	(0.99)	$	(0.99)	$	(0.52)	$	(0.52)


	Six Months Ended June 30,
		2022				2021
		Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net income per common share:
Net (loss) income from continuing operations		$	(21,899)	$	(21,899)	$	15,735	$	15,735
Net loss available to participating securities (1)		—		—		(16)		(16)
1.75% Convertible Notes interest expense (after-tax) (2)		—		—		—		—
Net (loss) income available to the Company’s common shareholders from continuing operations		(21,899)		(21,899)		15,719		15,719
Denominator:
Weighted-average outstanding shares of common stock		47,016,351		47,016,351		44,506,933		44,506,933
Dilutive effect of:
Equity incentive plans		—		—		—		123,708
Convertible debt (2)		—		—		—		2,500,338
Common stock and common stock equivalents		47,016,351		47,016,351		44,506,933		47,130,979

Net (loss) income per share from continuing operations:		$	(0.47)	$	(0.47)	$	0.35	$	0.33

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

(2)Under the modified retrospective method of adoption of ASU 2020-06, the dilutive impact of convertible debt was calculated using the if-converted method for the three and six months ended June 30, 2022. The dilutive impact of convertible debt was calculated using the treasury stock method for the three and six months ended June 30, 2021 (see Note 8 - Debt).

For the three months ended June 30, 2022 and 2021, there were 1,263,394 and 1,187,395, respectively, stock options and restricted stock excluded from the calculation as they were anti-dilutive. For the six months ended June 30, 2022 and 2021, there were 1,263,394 and zero, respectively, stock options and restricted stock excluded from the calculation as they were anti-

dilutive. For the three months ended June 30, 2022 and 2021, there were 5,158,071 and 10,292,182 shares, respectively, related to convertible debt excluded from the calculation as they were anti-dilutive. For the six months ended June 30, 2022 and 2021, there were 5,158,071 and zero shares, respectively, related to convertible debt excluded from the calculation as they were anti-dilutive.