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Earnings Per Share | 6 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share |
10. | Earnings Per Share
Calculations of net income (loss) per common share attributable to Mesa Air Group were as follows (in thousands, except per share data):
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net income (loss) attributable to Mesa Air Group |  | $ | (42,783 | ) |  | $ | 5,689 |  |  | $ | (57,057 | ) |  | $ | 19,807 |
Basic weighted average common shares outstanding |  |  | 36,048 |  |  |  | 35,628 |  |  |  | 36,005 |  |  |  | 35,579 |
Add: Incremental shares for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive effect of warrants |  |  | — |  |  |  | 3,038 |  |  |  | — |  |  |  | 2,183 |
Dilutive effect of restricted stock |  |  | — |  |  |  | 766 |  |  |  | — |  |  |  | 620 |
Diluted weighted average common shares outstanding |  |  | 36,048 |  |  |  | 39,432 |  |  |  | 36,005 |  |  |  | 38,382 |
Net income (loss) per common share attributable to Mesa Air Group: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (1.19 | ) |  | $ | 0.16 |  |  | $ | (1.58 | ) |  | $ | 0.56 |
Diluted |  | $ | (1.19 | ) |  | $ | 0.14 |  |  | $ | (1.58 | ) |  | $ | 0.52 |
Basic income or loss per common share is computed by dividing net income or loss attributable to Mesa Air Group by the weighted average number of common shares outstanding during the period. The number of incremental shares from the assumed issuance of shares relating to restricted stock and exercise of warrants is calculated by applying the treasury stock method. Share-based awards and warrants whose impact is anti-dilutive under the treasury stock method are excluded from the diluted net income or loss per share calculation. In loss periods, these incremental shares are excluded from the calculation of diluted loss per share, as the inclusion of unvested restricted stock and warrants would have an anti-dilutive effect. The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net income (loss) per share because the effect of including such potentially dilutive shares would have been anti-dilutive:
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Warrants |  |  | 818 |  |  |  | — |  |  |  | 1,671 |  |  |  | — |
Restricted stock |  |  | 84 |  |  |  | — |  |  |  | 235 |  |  |  | — |
|  |  | 902 |  |  |  | — |  |  |  | 1,906 |  |  |  | — |

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