v3.24.2.u1
Net Income Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Share
11.    NET INCOME PER SHARE
As of June 30, 2024, 45,224,972 shares of AFG's common stock (par value $0.01) were issued and outstanding. Common shares outstanding increased by 29,602 during the six months ended June 30, 2024, primarily due to settlements of employee restricted and performance stock units.
Earnings Per Share Calculation
The numerator of the basic and diluted earnings per share computation represents net income (loss) attributable to common stockholders adjusted by the retained earnings impact of the noncontrolling adjustment to redemption value under ASC 480. The redemption value adjustment is further described in the Redeemable Noncontrolling Interest section of Note 1. Business and Basis of Presentation.
The following table provides a reconciliation of net income attributable to common stockholders to the numerator in the basic and diluted earnings per share calculation, together with the resulting earnings per share amounts:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net income (loss) attributable to common stockholders$(1)$(13)$19 (47)
Adjustment to redemption value (ASC 480)— — — — 
Numerator of basic and diluted EPS$(1)$(13)$19 (47)
Per Share:
Basic$(0.02)$(0.29)$0.42 $(1.02)
Diluted$(0.02)$(0.29)$0.41 $(1.02)
The denominator of the basic earnings per share computation represents the weighted average common shares outstanding plus vested performance and restricted stock units (together, "Basic Weighted Average Shares Outstanding"). The denominator of diluted earnings per share adjusts the Basic Weighted Average Shares Outstanding for all potential dilutive common shares outstanding during the period. All potential dilutive common shares outstanding consider common stock deliverable pursuant to warrants, unvested restricted stock units and performance stock units granted under existing compensation plans.
The following table provides a reconciliation of the weighted average shares denominator used for basic net income per share to the denominator used for diluted net income per share:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Basic weighted average shares outstanding denominator46,209,250 45,757,234 46,019,145 45,661,288 
Effect of potential dilutive shares :
Restricted stock units— — 158,132 — 
Performance stock units (1)
— — 391,585 — 
Diluted weighted average shares outstanding denominator 46,209,250 45,757,234 46,568,862 45,661,288 
Anti-dilutive shares excluded from the above reconciliation:
Warrants
— — — — 
Restricted stock units
471,541 556,602 44,362 555,981 
Performance stock units (1)
464,272 667,365 — 667,365 
(1)    Performance stock units are reflected based on the performance metrics through the balance sheet date. Vesting of these units is contingent upon meeting certain performance metrics. Although a portion of these performance metrics have been achieved as of the respective period end, it is possible that awards may no longer meet the metric at the end of the performance period.