Earnings per Share (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Earnings Per Share [Abstract] |
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| Reconciliation from Basic to Diluted Weighted Average Number of Shares Outstanding |
The reconciliation from basic to diluted weighted average shares outstanding is as follows:
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Weighted average shares outstanding – Basic |
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132,622,105 |
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136,129,591 |
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136,115,598 |
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136,111,555 |
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| Dilutive effect of unvested common shares and restricted stock units with service conditions, performance stock units considered probable of vesting and assumed stock option exercises and conversions |
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1,474,734 |
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1,224,836 |
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1,550,617 |
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— |
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| Weighted average shares outstanding – Diluted |
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134,096,839 |
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137,354,427 |
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137,666,215 |
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136,111,555 |
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| Schedule of Earnings Per Share, Basic and Diluted |
Basic and diluted income (loss) per share are calculated as follows:
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Numerator: |
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| Income (loss) from continuing operations attributable to Ecovyst Inc. |
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$ |
21,325 |
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$ |
4,689 |
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$ |
48,445 |
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$ |
(5,929) |
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| Loss from discontinued operations attributable to Ecovyst Inc. |
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— |
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(75,948) |
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— |
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(159,455) |
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| Net income (loss) attributable to Ecovyst Inc. |
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$ |
21,325 |
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$ |
(71,259) |
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$ |
48,445 |
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$ |
(165,384) |
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| Denominator: |
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| Weighted average shares outstanding – Basic |
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132,622,105 |
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136,129,591 |
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136,115,598 |
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136,111,555 |
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| Weighted average shares outstanding – Diluted |
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134,096,839 |
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137,354,427 |
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137,666,215 |
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136,111,555 |
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| Net income (loss) per share: |
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| Basic income (loss) per share - continuing operations |
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$ |
0.16 |
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$ |
0.03 |
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$ |
0.36 |
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$ |
(0.04) |
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| Diluted income (loss) per share - continuing operations |
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$ |
0.16 |
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$ |
0.03 |
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$ |
0.35 |
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$ |
(0.04) |
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| Basic loss per share - discontinued operations |
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$ |
— |
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$ |
(0.56) |
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$ |
— |
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$ |
(1.17) |
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| Diluted loss per share - discontinued operations |
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$ |
— |
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$ |
(0.55) |
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$ |
— |
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$ |
(1.17) |
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| Basic income (loss) per share |
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$ |
0.16 |
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$ |
(0.52) |
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$ |
0.36 |
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$ |
(1.22) |
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| Diluted income (loss) per share |
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$ |
0.16 |
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$ |
(0.52) |
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$ |
0.35 |
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$ |
(1.22) |
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| Schedule of Securities Excluded from Computation of Earnings Per Share |
The table below presents the details of the Company’s weighted average equity-based awards outstanding during each respective period that were excluded from the calculation of diluted earnings per share:
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Three months ended
September 30, |
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Nine months ended
September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Restricted stock awards with performance only targets not yet achieved |
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505,439 |
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828,967 |
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574,048 |
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852,822 |
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| Stock options with performance only targets not yet achieved |
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300,788 |
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375,733 |
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316,187 |
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376,448 |
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| Anti-dilutive restricted stock awards, restricted stock units and performance stock units |
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487,322 |
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— |
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19,306 |
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— |
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| Anti-dilutive stock options |
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751,539 |
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— |
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788,509 |
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4,221 |
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