ARKO Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Basic and Diluted Net Income Per Share of Common Stock

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


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands)
Net income available to common stockholders	$	30,320	$	24,085	$	31,141	$	7,947
Dividends on redeemable preferred stock		1,434		1,434		—		—
Net income available to common stockholders after assumed conversions	$	31,754	$	25,519	$	31,141	$	7,947

Weighted average common shares outstanding — Basic		121,529		124,428		122,909		124,395
Effect of dilutive securities:
Restricted share units		668		252		336		138
Ares warrants		—		19		—		10
Redeemable preferred stock		8,361		8,333		—		—
Weighted average common shares outstanding — Diluted		130,558		133,032		123,245		124,543
Net income per share available to common stockholders — Basic	$	0.25	$	0.19	$	0.25	$	0.06
Net income per share available to common stockholders — Diluted	$	0.24	$	0.19	$	0.25	$	0.06

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share

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


	As of June 30,
	2022		2021
	(in thousands)
Stock options		897		126
Ares warrants		1,100		—
Public and Private warrants		17,333		17,333
Ares Put Option	*		*

* Refer to the description of this instrument in Note 8.

The effect of the potential shares of common stock issuable upon conversion of the redeemable preferred stock was antidilutive for the six months ended June 30, 2022 and 2021, and such shares were excluded from the computation of diluted net income per share.