Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.22.2.2
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHAREBasic 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):
Successor Predecessor Successor Predecessor
Three Months Ended
September 30, 2022
Three Months Ended
September 30, 2021
Nine Months Ended
September 30, 2022
Nine Months Ended
September 30, 2021
Net income $ 78,711  $ 52,009  $ 123,745  $ 29,632 
Weighted-average shares outstanding:
Weighted average shares used in computing earnings per share, basic 162,635,592  53,045,510  161,943,492  53,045,510 
Founders advisory fees 14,142,366  —  14,142,366  — 
Weighted average shares used in computing earnings per share, diluted 176,777,958  53,045,510  176,085,858  53,045,510 
Basic earnings per share $ 0.48  $ 0.98  $ 0.76  $ 0.56 
Diluted earnings per share $ 0.45  $ 0.98  $ 0.70  $ 0.56 
As of September 30, 2022, 10.4 million PBNQSOs and 15.3 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.