Year Ended October 31,

(In thousands, except per share data)

2021

2020

2019

Numerator:

Net earnings (loss) attributable to Hovnanian

$

607,817

$

50,928

$

(42,117

)

Less: undistributed earnings allocated to nonvested shares

(57,676

)

(4,652

)

-

Numerator for basic earnings (loss) per share

$

550,141

$

46,276

$

(42,117

)

Plus: undistributed earnings allocated to nonvested shares

57,676

4,652

-

Less: undistributed earnings reallocated to nonvested shares

(58,687

)

(4,652

)

-

Numerator for diluted earnings (loss) per share

$

549,130

$

46,276

$

(42,117

)

Denominator:

Denominator for basic earnings per share

6,287

6,189

5,968

Effect of dilutive securities:

Share-based payments

108

395

-

Denominator for diluted earnings per share – weighted-average shares outstanding

6,395

6,584

5,968

Basic earnings (loss) per share

$

87.50

$

7.48

$

(7.06

)

Diluted earnings (loss) per share

$

85.86

$

7.03

$

(7.06

)