Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.23.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share represents income available to ordinary shareholders divided by the weighted average number of Ordinary Shares outstanding during the reported period. Diluted earnings per share is based upon the weighted-average number of Ordinary Shares outstanding during the period plus additional weighted-average potentially dilutive Ordinary Share equivalents during the period when the effect is dilutive.
Basic and diluted weighted average shares outstanding and earnings per share were as follows (in thousands, except share and per share data):
Three Months Ended
June 30, 2023		 Three Months Ended
June 30, 2022		 Six Months Ended
June 30, 2023		 Six Months Ended
June 30, 2022
Net income $ 52,014  $ 8,927  $ 61,445  $ 45,890 
Weighted-average shares outstanding:
Weighted average shares used in computing earnings per share, basic 156,525,006  162,917,478  157,109,418  161,591,704 
Founders advisory fees 11,785,305  14,142,366  11,785,305  14,142,366 
Weighted average shares used in computing earnings per share, diluted 168,310,311  177,059,844  168,894,723  175,734,070 
Basic earnings per share $ 0.33  $ 0.05  $ 0.39  $ 0.28 
Diluted earnings per share $ 0.31  $ 0.05  $ 0.36  $ 0.26 
As of June 30, 2023, 11.2 million PBNQSO and 17.6 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive. As of June 30, 2022, 10.2 million PBNQSOs and 23.9 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive.