Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.21.1
Earnings per Share
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
Basic net earnings (loss) per share is calculated by dividing the net income (loss) available to common shareholders (excluding net income or loss attributable to Noncontrolling interest, as applicable to the three months ended March 31, 2021; see Note 3) by the weighted average common shares outstanding for the period.
In computing diluted earnings (loss) per share, basic net earnings (loss) per share is adjusted based on the assumption that dilutive RSUs and PBRSUs have vested and outstanding Common Units and shares of Series A Preferred Stock held by Juniper as a Noncontrolling interest are exchanged for common shares, as applicable to the three months ended March 31, 2021 (see Note 3).
The following table provides a reconciliation of the components used in the calculation of basic and diluted earnings per share for the periods presented:
  Three Months Ended March 31,
  2021 2020
Net income (loss) $ (20,021) $ 163,094 
Net income (loss) attributable to Noncontrolling interest 6,449  — 
Net income (loss) attributable to common shareholders - basic (13,572) 163,094 
Reallocation of Noncontrolling interest assuming exchange of Common Units and
Series A Preferred Stock held by Noncontrolling interest (6,449) — 
Net income (loss) attributable to common shareholders - diluted $ (20,021) $ 163,094 
Weighted-average shares – basic 15,263  15,152 
Effect of dilutive securities:
Common Units and Series A Preferred Stock that are exchangeable for common shares —  — 
RSUs and PRSUs — 
Weighted-average shares – diluted 1
15,263  15,160 
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1    For the three months ended March 31, 2021, approximately 22.7 million potentially dilutive securities represented by approximately 22.5 million Common Units and 0.2 million shares of Series A Preferred Stock as well as 0.2 million of RSUs and PRSUs, respectively, had the effect of being anti-dilutive and were excluded from the calculation of diluted earnings per share.