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Earnings Per Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE |
| 10. | EARNINGS PER SHARE.
The following tables compute basic and diluted earnings per share (in thousands, except per share data):
|  | Three Months Ended June 30, 2022 |
|  | Income Numerator |  |  | Shares Denominator |  |  | Per-Share Amount |
Net income attributed to Alto Ingredients, Inc. |  | $ | 22,115 |  |  |  |  |  |  |  |  |
Less: Preferred stock dividends |  |  | (315 | ) |  |  |  |  |  |  |  |
Less: Income allocated to participating securities |  |  | (284 | ) |  |  |  |  |  |  |  |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 21,516 |  |  |  | 72,936 |  |  | $ | 0.29 |
Add: Dilutive instruments |  |  | — |  |  |  | 187 |  |  |  |  |
Diluted income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 21,516 |  |  |  | 73,123 |  |  | $ | 0.29 |
|  | Three Months Ended June 30, 2021 |
|  | Income Numerator |  |  | Shares Denominator |  |  | Per-Share Amount |
Net income attributed to Alto Ingredients, Inc. |  | $ | 8,390 |  |  |  |  |  |  |  |  |
Less: Preferred stock dividends |  |  | (315 | ) |  |  |  |  |  |  |  |
Less: Income allocated to participating securities |  |  | (108 | ) |  |  |  |  |  |  |  |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 7,967 |  |  |  | 71,260 |  |  | $ | 0.11 |
Add: Dilutive instruments |  |  | — |  |  |  | 669 |  |  |  |  |
Diluted income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 7,967 |  |  |  | 71,929 |  |  | $ | 0.11 |
|  | Six Months Ended June 30, 2022 |
|  | Income Numerator |  |  | Shares Denominator |  |  | Per-Share Amount |
Net income attributed to Alto Ingredients, Inc. |  | $ | 19,513 |  |  |  |  |  |  |  |  |
Less: Preferred stock dividends |  |  | (627 | ) |  |  |  |  |  |  |  |
Less: Income allocated to participating securities |  |  | (251 | ) |  |  |  |  |  |  |  |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 18,635 |  |  |  | 71,690 |  |  | $ | 0.26 |
Add: Dilutive instruments |  |  | — |  |  |  | 268 |  |  |  |  |
Diluted income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 18,635 |  |  |  | 71,958 |  |  | $ | 0.26 |
|  | Six Months Ended June 30, 2021 |
|  | Income Numerator |  |  | Shares Denominator |  |  | Per-Share Amount |
Net income attributed to Alto Ingredients, Inc. |  | $ | 13,068 |  |  |  |  |  |  |  |  |
Less: Preferred stock dividends |  |  | (627 | ) |  |  |  |  |  |  |  |
Less: Income allocated to participating securities |  |  | (167 | ) |  |  |  |  |  |  |  |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 12,274 |  |  |  | 70,808 |  |  | $ | 0.17 |
Add: Dilutive instruments |  |  | — |  |  |  | 1,153 |  |  |  |  |
Diluted income per share: |  |  |  |  |  |  |  |  |  |  |  |
Income available to common stockholders |  | $ | 12,274 |  |  |  | 71,961 |  |  | $ | 0.17 |
There were an additional aggregate potentially dilutive weighted-average shares of 964,000 from convertible securities outstanding for the three and six months ended June 30, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three and six months ended June 30, 2022 and 2021, as their effect would have been anti-dilutive. At December 31, 2021, the Company had outstanding unexercised warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised on April 28, 2022.

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