| Schedule computation of basic and diluted EPS |
The computation of basic and diluted EPS is shown on the following page: | | | | | | | | | | | | Year ended December 31, | | | 2025 | | 2024 | | 2023 | Earnings attribution | | | | | | | | | | Single class of common stock (through 6/20/2023) * | | $ | — | | $ | — | | $ | 31,382 | Class A common stock | | | (47,918) | | | 4,892 | | | 44,663 | Class A restricted stock awards | | | 82 | | | 282 | | | 1,897 | Class B common stock | | | (4,464) | | | 4,288 | | | 3,498 | Class B restricted stock awards | | | 17 | | | 152 | | | 144 | Forfeitable dividends declared on unvested stock-based awards | | | 837 | | | 1,578 | | | 729 | Net income | | $ | (51,446) | | $ | 11,192 | | $ | 82,313 | | | | | | | | | | | * Common stock and restricted stock participated in earnings 1:1 and are shown on a combined basis through 6/20/2023 consistent with historical presentation |
| | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2025 | | Year ended December 31, 2024 | | June 21, 2023 - September 30, 2023 | | | Class A | | Class B | | Class A | | Class B | | Class A | | Class B | Dual class EPS calculations | | | | | | | $ | | | | | | $ | | | | | | Numerator | | | | | | | | | | | | | | | | | | | Net earnings for basic and diluted earnings per common share | | $ | (47,918) | | $ | (4,464) | | $ | 4,892 | | $ | 4,288 | | $ | 44,663 | | $ | 3,498 | Add: Convertible senior notes interest charge, net of tax | | | 212 | | | — | | | — | | | — | | | — | | | — | Net earnings for diluted earnings for diluted earnings per diluted share | | $ | (47,706) | | $ | (4,464) | | $ | 4,892 | | $ | 4,288 | | $ | 44,663 | | $ | 3,498 | Denominator | | | | | | | | | | | | | | | | | | | Weighted average shares used to compute basic earnings per share | | | 48,244 | | | 10,405 | | | 42,986 | | | 8,641 | | | 42,115 | | | 8,428 | Dilutive effect of stock option awards | | | — | | | — | | | 486 | | | 87 | | | 482 | | | 111 | Dilutive effect of restricted stock units | | | — | | | — | | | 224 | | | 35 | | | 157 | | | 48 | Dilutive effect of performance stock units | | | — | | | — | | | 916 | | | 167 | | | 436 | | | 111 | Dilutive effect of conversion of Class B common stock to Class A common stock | | | — | | | — | | | — | | | 104 | | | — | | | — | Weighted average shares used to compute diluted earnings per share | | | 48,244 | | | 10,405 | | | 44,612 | | | 9,034 | | | 43,190 | | | 8,698 | | | | | | | | | | | | | | | | | | | | Earnings per common share | | | | | | | | | | | | | | | | | | | Basic | | $ | (0.99) | | $ | (0.43) | | $ | 0.11 | | $ | 0.50 | | $ | 1.06 | | $ | 0.42 | Diluted | | $ | (0.99) | | $ | (0.43) | | $ | 0.11 | | $ | 0.47 | | $ | 1.03 | | $ | 0.40 |
| | | | | | Jan. 1 - June 20, 2023 | | | Single Class Portion of 2023 | Single class EPS calculations | | | | Numerator | | | | Net earnings | | $ | 31,382 | Denominator | | | | Weighted average shares used to compute basic earnings per share | | | 44,344 | Dilutive effect of stock option awards | | | 381 | Dilutive effect of restricted stock units | | | — | Dilutive effect of performance stock units | | | 27 | Weighted average shares used to compute diluted earnings per share | | | 44,752 | | | | | Earnings per common share (single class) | | | | Basic | | $ | 0.71 | Diluted | | $ | 0.70 |
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| Schedule of antidilutive shares excluded from the dilutive EPS calculation |
| | | | | | | | | | | Years ended December 31, | | | 2025 | | 2024 | | | Class A | | Class B | | Class A | | Class B | Antidilutive options | | 498,712 | | 108,697 | | - | | - | Antidilutive RSUs | | 1,109,161 | | 71,464 | | 313,382 | | 4,325 | Antidilutive PSUs (at target) | | 1,513,438 | | 273,383 | | 315,941 | | 4,361 | Antidilutive convertible senior notes | | 7,835,169 | | - | | - | | - |
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