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Basic and Diluted Earnings per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Basic and Diluted Earnings per Share
Note 16 – Basic and Diluted Earnings per Share
Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to Ocwen common stockholders by the weighted average number of common shares outstanding during the period. We calculate diluted earnings or loss per share by dividing net income or loss attributable to Ocwen by the weighted average number of common shares outstanding including the potential dilutive common shares related to outstanding restricted stock awards, stock options and warrants as determined using the treasury stock method. For the nine months ended September 30, 2023, we have excluded the effect of all stock options, common stock awards and warrants from the computation of diluted loss per share because of the anti-dilutive effect of our reported net loss.
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Basic earnings (loss) per share
Net income (loss)$8.5 $36.9 $(16.2)$105.4 
Weighted average shares of common stock
7,677,008 8,530,209 7,621,569 8,998,298 
Basic earnings (loss) per share$1.10 $4.33 $(2.13)$11.71 
Diluted earnings (loss) per share
Net income (loss)$8.5 $36.9 $(16.2)$105.4 
Weighted average shares of common stock7,677,008 8,530,209 7,621,569 8,998,298 
Effect of dilutive elements
Common stock warrants174,712 131,092 — 136,471 
Stock option awards— — — 24 
Common stock awards208,358 205,624 — 161,064 
Dilutive weighted average shares of common stock
8,060,078 8,866,925 7,621,569 9,295,857 
Diluted earnings (loss) per share$1.05 $4.17 $(2.13)$11.34 
Stock options and common stock awards excluded from the computation of diluted earnings per share
Anti-dilutive (1)64,870 271,933 61,425 276,988 
Market-based (2)61,354 68,236 61,354 68,236 
(1)Includes stock options and stock awards that are anti-dilutive based on the application of the treasury stock method.
(2)Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.