WMIH Corp. Just Filed Its Quarterly Report: 11. Earnings Per Sha...
11. Earnings Per Share
The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistri
buted earnings. The Series A Preferred Stock is considered participating securities because it has dividend rights determined on an as-converted basis in the event of Company’s declaration of a dividend or distribution for common shares. On March 26, 2021, the Company repurchased 3,700 thousand shares of its common stock from affiliates of Kohlberg Kravis Roberts & Co. L.P., a related party of the Company, for a total cost of $119 or $32.25 per share.
The following table sets forth the computation of basic and diluted net income (loss) per common share (amounts in millions, except per share amounts):
Three Months Ended March 31,
Computation of Earnings Per Share
Net income (loss) attributable to Mr. Cooper
Less: Undistributed earnings attributable to participating stockholders
Net income (loss) attributable to common stockholders
Net income (loss) per common share attributable to Mr. Cooper:
Weighted average shares of common stock outstanding (in thousands):
Dilutive effect of stock awards(1)
Dilutive effect of participating securities(1)
(1)For periods with net loss, the Company excluded potential common shares from the computation of diluted EPS because inclusion would be antidilutive.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following: