Earnings Per Share

3 Months Ended

Mar. 31, 2022

Note 15—Earnings Per Share

The following table presents a reconciliation of income from operations used in the basic and diluted earnings per share (“EPS”) calculations ($ in thousands, except for per share data):


	For the Three Months Ended March 31,
	2022		2021
Net loss from continuing operations	$	(1,888)	$	(14,497)
Net loss from continuing operations attributable to noncontrolling interests		18		44
Preferred dividends		(5,874)		(5,874)
Net loss from continuing operations and allocable to common shareholders for basic and diluted earnings per common share	$	(7,744)	$	(20,327)


	For the Three Months Ended March 31,
	2022		2021
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net loss from continuing operations and allocable to common shareholders	$	(7,744)	$	(20,327)
Net income from discontinued operations		797,688		22,486
Net (income) from discontinued operations attributable to noncontrolling interests		(179,089)		(2,564)
Net income (loss) allocable to common shareholders	$	610,855	$	(405)

Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic and diluted earnings per common share		69,037		73,901

Basic and diluted earnings per common share:⁽¹⁾
Net loss from continuing operations and allocable to common shareholders	$	(0.11)	$	(0.28)
Net income from discontinued operations and allocable to common shareholders		8.96		0.27
Net income (loss) allocable to common shareholders	$	8.85	$	(0.01)

(1)

For the three months ended March 31, 2022 and 2021, the effect of certain of the Company’s restricted stock awards were anti-dilutive due to the Company having a net loss from continuing operations and allocable to common shareholders for the period. For the three months ended March 31, 2022 and 2021, 8,829,274 and 2,893,787 shares, respectively, of the 3.125% Convertible Notes were antidilutive based upon the conversion price for such periods.