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Net Income Per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Net Income Per Share | 5. NET INCOME PER SHARE As of March 31, 2021, 46,197,102 shares of AFG's common stock (par value $0.01) and warrants entitling holders to acquire up to 4,877,693 shares of new common stock at an exercise price of $16.67 per share were issued and outstanding. Common shares outstanding increased by 387,963 during the three months ended March 31, 2021, primarily due to settlements of employee restricted and performance stock units. The numerator of the basic and diluted earnings per share computation represents net income (loss) attributable to common stockholders adjusted by the retained earnings impact of the noncontrolling adjustment to redemption value under ASC 480. The redemption value adjustment is further described Redeemable Noncontrolling Interest section of Note 2. Basis of Presentation and Significant Accounting Policies, The following table provides a reconciliation of net income attributable to common stockholders to the numerator in the basic and diluted earnings per share calculation, together with the resulting earnings per share amounts:
Three Months Ended March 31, |  | 2021 |  | 2020 |  |  |  |
Net income (loss) attributable to common stockholders |  | $ | 17 |  |  | $ | (280) |  |  |  |  |
Adjustment to redemption value (ASC 480) |  | $ | (13) |  |  | — |  |  |  |  |
Numerator of basic and diluted EPS |  | $ | 4 |  |  | $ | (280) |  |  |  |  |
Per Share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.08 |  |  | $ | (6.07) |  |  |  |  |
Diluted |  | $ | 0.08 |  |  | $ | (6.07) |  |  |  |  |
The denominator of the basic earnings per share computation represents the weighted average common shares outstanding plus vested restricted stock units (together, "Basic Weighted Average Shares Outstanding"). The denominator of diluted earnings per share adjusts the basic weighted average shares outstanding for all potential dilutive common shares outstanding during the period. All potential dilutive common shares outstanding consider common stock deliverable pursuant to warrants, unvested restricted stock units and performance stock units granted under existing compensation plans. The following table provides a reconciliation of the weighted average shares denominator used for basic net income per share to the denominator used for diluted net income per share:
Three Months Ended March 31, |  | 2021 |  | 2020 |  |  |  |
Basic weighted average shares outstanding denominator |  | 46,314,049 |  |  | 46,060,324 |  |  |  |  |
Effect of potential dilutive shares (1): |  |  |  |  |  |  |  |
Stock options |  | — |  |  | — |  |  |  |  |
Warrants |  | 214,904 |  |  | — |  |  |  |  |
Restricted stock units |  | 121,215 |  |  | — |  |  |  |  |
Performance stock units (2) |  | 207,896 |  |  | — |  |  |  |  |
Diluted weighted average shares outstanding denominator |  | 46,858,064 |  |  | 46,060,324 |  |  |  |  |
Anti-dilutive shares excluded from the above reconciliation: |  |  |  |  |  |  |  |
Stock options |  | — |  |  | 16,667 |  |  |  |  |
Warrants |  | — |  |  | 4,877,749 |  |  |  |  |
Restricted stock units |  | 165,529 |  |  | 236,189 |  |  |  |  |
Performance stock units (2) |  | — |  |  | 738,039 |  |  |  |  |
(1) For the three months ended March 31, 2020, Ambac had a net loss and accordingly excluded all potentially dilutive securities from the determination of diluted loss per share as their impact was anti-dilutive. (2) Performance stock units are reflected based on the performance metrics through the balance sheet date. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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