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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 8 — Earnings Per Share

 

The following table is a reconciliation of the weighted average shares used in the computation of earnings per share for the periods presented (in thousands, except per share data):

 

   

Three Months Ended
September 30,

    

Nine Months Ended
September 30,

  

Earnings per share - basic and diluted

  

2024

    

2023

    

2024

    

2023

  

Net income

   $ 52,272     $ 48,121     $ 43,313     $ 48,985  

Net income (loss) attributable to non-controlling interests

     —       (11 )     280       (289 )

Net income attributable to JAKKS Pacific, Inc.

     52,272       48,132       43,033       49,274  

Preferred stock dividend*

     —       378       —       1,118  

Redemption of preferred stock

     —       —       1,330       —  

Net income attributable to common stockholders **

   $ 52,272     $ 47,754     $ 44,363     $ 48,156  

Weighted average common shares outstanding - basic

     10,942       10,021       10,704       9,922  

Earnings per share available to common stockholder- basic

   $ 4.78     $ 4.77     $ 4.14     $ 4.85  

Weighted average common shares outstanding - diluted

     11,275       10,542       11,106       10,503  

Earnings per share available to common stockholder- diluted

   $ 4.64     $ 4.53     $ 3.99     $ 4.58  

 

* The 200,000 shares issued and outstanding as of September 30, 2023 were non-participating. A preferred dividend of $0.4 million was accrued for Q1 2024 and included in the preferred stock redemption.

 

** Net income attributable to common stockholders was computed by deducting the difference between the fair value of the consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock and fair value of the related derivative liability of $1.3 million for the nine months ended September 30, 2024 and the preferred stock dividend of $0.4 million and $1.1 million for the three and nine months ended September 30, 2023.

 

Basic earnings per share is calculated using the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the weighted average number of common shares and common share equivalents outstanding during the period (which consist of restricted stock units to the extent they are dilutive).