Net Earnings (Loss) Per Share
|9 Months Ended|
Sep. 30, 2022
|Earnings Per Share [Abstract]|
|Net Earnings (Loss) Per Share||
NOTE 18 – Net Earnings (Loss) Per Share
The Archaea Merger was accounted for as a reverse recapitalization and is treated as the equivalent of Legacy Archaea receiving proceeds for the issuance of the outstanding shares of Class A Common Stock and Class B Common Stock, as well as the warrants, of Rice Acquisition Corp. accompanied by a recapitalization. Therefore, Class A Common Stock is deemed to be outstanding beginning at the Closing due to the reverse recapitalization.
The Company’s basic earnings per share (“EPS”) of Class A Common Stock is computed based on the average number of shares of Class A Common Stock outstanding for the period. Diluted EPS includes the effects of the Company’s outstanding RSUs, PSUs and Private Placement Warrants, unless the effects are anti-dilutive to EPS.
The following provides a reconciliation between basic and diluted EPS attributable to Class A Common Stock for the three and nine months ended September 30, 2022 and 2021.
For the three months ended September 30, 2022, weighted-average total warrants of 6,094,812 and RSUs and PSUs of 1,430,225, and for the nine months ended September 30, 2022, weighted-average RSUs and PSUs of 1,223,249 were excluded from the diluted Class A Common Stock shares as their effect would have been anti-dilutive. For the three and nine months ended September 30, 2021, weighted-average total warrants of 18,883,492 and RSUs of 140,000 were excluded from the diluted Class A Common Stock shares as their effect would have been anti-dilutive.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef