Quarterly report pursuant to Section 13 or 15(d)

EQUITY

v3.21.2
EQUITY
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Equity EQUITY
Common Stock
In September 2021, we completed the public offering of 5,239,259 shares of common stock. A portion of the proceeds of $455.3 million were used to pay estimated fees of $5.9 million, leaving approximately $449.4 million of net proceeds. We intend to use the net proceeds to fund the acquisition of 51% of the capital stock of OCESA and use any remaining proceeds for general corporate purposes.
Accumulated Other Comprehensive Loss
The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2021:
Cash Flow Hedge  Foreign Currency Items Total
(in thousands)
Balance at December 31, 2020 $ (31,587) $ (145,422) $ (177,009)
Other comprehensive income before reclassifications
 10,160  (10,001) 159 
Amount reclassified from AOCI 5,853  —  5,853 
Net other comprehensive income 16,013  (10,001) 6,012 
Balance at September 30, 2021 $ (15,574) $ (155,423) $ (170,997)
Earnings Per Share
Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted and deferred stock awards and the assumed conversion of our convertible senior notes, where dilutive.
The following table sets forth the computation of weighted average common shares outstanding:

Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
Weighted average common shares—basic 216,888,355  212,593,719  215,716,239  211,781,620 
Effect of dilutive securities:
    Stock options and restricted stock 6,912,045  —  —  — 
Weighted average common shares—diluted 223,800,400  212,593,719  215,716,239  211,781,620 
The following table shows securities excluded from the calculation of diluted net loss per common share because such securities are anti-dilutive:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
Options to purchase shares of common stock 3,750  9,874,376  7,727,064  9,874,376 
Restricted stock and deferred stock—unvested 91,275  3,713,249  3,207,115  3,713,249 
Conversion shares related to the convertible senior notes 11,864,035  11,864,035  11,864,035  10,729,717 
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 11,959,060  25,451,660  22,798,214  24,317,342