Orion Office REIT Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Net Income (Loss) Per Share

Orion Office REIT, Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Note 14 - Net Income (Loss) Per Share

The financial statements reflect the common shares as if they were outstanding for the entire period presented, and are as of the date of Separation and Distribution. The computation of basic and diluted EPS is as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands, except share and per share data):


	Year Ended December 31,
		2021		2020		2019
Net (loss) income		$	(47,464)	$	(1,899)	$	15,284
(Income) loss attributable to non-controlling interests		(17)		—		—
Net (loss) income available to common stockholders used in basic and diluted net income per share		(47,481)		(1,899)		15,284






Weighted average number of Common Stock outstanding - basic		56,625,650		56,625,650		56,625,650
Effect of dilutive securities (1)		—		—		—
Weighted average number of common shares - diluted		56,625,650		56,625,650		56,625,650



Basic and diluted net (loss) income per share attributable to common stockholders		$	(0.84)	$	(0.03)	$	0.27

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(1)As of December 31, 2021, 2020 and 2019, there were no adjustments to the weighted average common shares outstanding used in the diluted calculation given there were no potentially dilutive shares.

The following were excluded from diluted net (loss) income per share attributable to common stockholders, as the effect would have been antidilutive:


	Year Ended December 31,
		2021	2020	2019
Weighted average unvested Time-Based Restricted Stock Units (1)		—	—	—
Weighted average stock warrants		1,120,000	—	—

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(1)Net of assumed repurchases in accordance with the treasury stock method.