XML 32 R16.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Net Income Per Share | 6 Months Ended
--- | ---
Jun. 30, 2024
Earnings Per Share [Abstract] |
Net Income Per Share | 11. NET INCOME PER SHARE As of June 30, 2024, 45,224,972 shares of AFG's common stock (par value $0.01) were issued and outstanding. Common shares outstanding increased by 29,602 during the six months ended June 30, 2024, primarily due to settlements of employee restricted and performance stock units. Earnings Per Share Calculation 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 in the Redeemable Noncontrolling Interest section of Note 1. Business and Basis of Presentation. 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 June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) attributable to common stockholders |  | $ | (1) |  |  | $ | (13) |  |  | $ | 19 |  |  | (47) |
Adjustment to redemption value (ASC 480) |  | — |  |  | — |  |  | — |  |  | — |
Numerator of basic and diluted EPS |  | $ | (1) |  |  | $ | (13) |  |  | $ | 19 |  |  | (47) |
Per Share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.02) |  |  | $ | (0.29) |  |  | $ | 0.42 |  |  | $ | (1.02) |
Diluted |  | $ | (0.02) |  |  | $ | (0.29) |  |  | $ | 0.41 |  |  | $ | (1.02) |
The denominator of the basic earnings per share computation represents the weighted average common shares outstanding plus vested performance and 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 June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Basic weighted average shares outstanding denominator |  | 46,209,250 |  |  | 45,757,234 |  |  | 46,019,145 |  |  | 45,661,288 |
Effect of potential dilutive shares : |  |  |  |  |  |  |  |
Restricted stock units |  | — |  |  | — |  |  | 158,132 |  |  | — |
Performance stock units (1) |  | — |  |  | — |  |  | 391,585 |  |  | — |
Diluted weighted average shares outstanding denominator |  | 46,209,250 |  |  | 45,757,234 |  |  | 46,568,862 |  |  | 45,661,288 |
Anti-dilutive shares excluded from the above reconciliation: |  |  |  |  |  |  |  |
Warrants |  | — |  |  | — |  |  | — |  |  | — |
Restricted stock units |  | 471,541 |  |  | 556,602 |  |  | 44,362 |  |  | 555,981 |
Performance stock units (1) |  | 464,272 |  |  | 667,365 |  |  | — |  |  | 667,365 |
(1) 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.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration