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, 2022

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,
	2022			2021			2020
	(in thousands)
Net income available to common stockholders	$	65,997		$	53,463		$	10,433
Change in fair value of Ares Put Option		(329	)		(927	)		—
Net income available to common stockholders after assumed conversions	$	65,668		$	52,536		$	10,433

Weighted average common shares outstanding — Basic		121,476			124,412			71,074
Effect of dilutive securities:
Restricted share units		822			259			—
Ares Put Option		926			766			—
Weighted average common shares outstanding — Diluted		123,224			125,437			71,074
Net income per share available to common stockholders — Basic	$	0.54		$	0.43		$	0.15
Net income per share available to common stockholders — Diluted	$	0.53		$	0.42		$	0.15

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,
	2022		2021		2020
	(in thousands)
Ares Warrants		1,100		1,100		1,100
Public and private warrants		17,333		17,333		17,333
Ares Put Option		—		—	*
Series A redeemable preferred stock		8,396		8,333		8,333
Stock options		897		126		—

(*) Refer to description of this instrument in Note 10 above.