ARKO Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Earnings per Share

Earnings per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

20. Earnings per Share

The following table sets forth the computation of basic and diluted net income per share of common stock:


	For the Year Ended December 31,
	2023		2022			2021
	(in thousands)
Net income available to common stockholders	$	28,619	$	65,997		$	53,463
Change in fair value of Ares Put Option		—		(329	)		(927	)
Net income available to common stockholders after assumed conversions	$	28,619	$	65,668		$	52,536

Weighted average common shares outstanding — Basic		118,782		121,476			124,412
Effect of dilutive securities:
Restricted share units		823		822			259
Ares Put Option		—		926			766
Weighted average common shares outstanding — Diluted		119,605		123,224			125,437
Net income per share available to common stockholders — Basic	$	0.24	$	0.54		$	0.43


Net income per share available to common stockholders — Diluted		$	0.24			$	0.53			$	0.42

The following potential shares of common stock have been excluded from the computation of diluted earnings per share because their effect would be antidilutive:


	As of December 31,
	2023		2022		2021
	(in thousands)
Ares Warrants		1,100		1,100		1,100
Public and private warrants		17,333		17,333		17,333
Series A redeemable preferred stock		8,482		8,396		8,333
Stock options		1,306		897		126