| Summary of Numerator and Denominator of Basic and Diluted Earnings Per Common Share |
A summary of the numerator and denominator of the basic and diluted earnings per common share is presented below:
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Three Months Ended |
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Three Months Ended |
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June 30, 2025 |
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June 30, 2024 |
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Income |
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Shares (a) |
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Per Share |
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Income |
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Shares (a) |
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Per Share |
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(Numerator) |
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(Denominator) |
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Amount |
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(Numerator) |
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(Denominator) |
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Amount |
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Net income |
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$ |
70,279 |
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$ |
57,099 |
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Less: Net income attributable
to noncontrolling interests |
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(4,119 |
) |
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(3,023 |
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Net income attributable to HCI |
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66,160 |
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54,076 |
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Less: Income attributable to
participating securities |
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(2,616 |
) |
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(2,052 |
) |
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Basic Earnings Per Share: |
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Income attributable to common
stockholders |
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63,544 |
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11,400 |
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$ |
5.57 |
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52,024 |
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10,041 |
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$ |
5.18 |
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Effect of Dilutive Securities: |
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Stock options |
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— |
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392 |
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— |
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298 |
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Convertible senior notes |
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3,170 |
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1,084 |
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1,753 |
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2,142 |
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Warrants |
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— |
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7 |
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— |
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215 |
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Diluted Earnings Per Share: |
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Income attributable to common
stockholders |
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$ |
66,714 |
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12,883 |
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$ |
5.18 |
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$ |
53,777 |
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12,696 |
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$ |
4.24 |
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Six Months Ended |
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Six Months Ended |
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June 30, 2025 |
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June 30, 2024 |
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Income |
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Shares (a) |
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Per Share |
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Income |
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Shares (a) |
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Per Share |
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(Numerator) |
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(Denominator) |
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Amount |
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(Numerator) |
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(Denominator) |
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Amount |
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Net income |
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$ |
144,509 |
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$ |
114,055 |
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Less: Net income attributable to
redeemable noncontrolling
interests |
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— |
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(10,149 |
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Less: Net income attributable
to noncontrolling interests |
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(8,665 |
) |
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(2,219 |
) |
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Net income attributable to HCI |
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135,844 |
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101,687 |
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Less: Income attributable to
participating securities |
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(5,691 |
) |
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(3,243 |
) |
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Basic Earnings Per Share: |
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Income attributable to common
stockholders |
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130,153 |
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10,846 |
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$ |
12.00 |
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98,444 |
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9,897 |
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$ |
9.95 |
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Effect of Dilutive Securities: |
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Stock options |
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— |
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373 |
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— |
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|
290 |
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Convertible senior notes |
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5,500 |
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1,611 |
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3,393 |
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2,212 |
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Warrants |
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— |
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7 |
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— |
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262 |
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Diluted Earnings Per Share: |
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Income attributable to common
stockholders |
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$ |
135,653 |
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12,837 |
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$ |
10.57 |
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$ |
101,837 |
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12,661 |
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$ |
8.04 |
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