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Earnings Per Share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
3.Earnings Per Share
Basic earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is calculated in the same manner but includes the impact of potentially dilutive securities utilizing the treasury stock method. Potentially dilutive securities consists of issuable shares related to warrants, unvested restricted stock units (“RSUs”), and unvested performance share units (“PSUs”).
The reconciliations between basic and diluted earnings per share are as follows:
Three Months Ended March 31,
20242023
Numerator
Net income, basic and diluted$26 $1,389 
Denominator (in thousands)
Weighted average common shares outstanding, basic130,893 134,742 
Effect of potentially dilutive securities
Warrants10,302 9,560 
Restricted stock units379 380 
Performance share units178 49 
Weighted average common shares outstanding, diluted141,752 144,731 
Earnings per common share:
Basic$0.20 $10.31 
Diluted$0.18 $9.60 

During the Current Quarter and Prior Quarter, the diluted earnings per share calculation excludes the effect of 777,369 and 789,458 reserved shares of common stock and 1,466,502 and 1,489,337 reserved Class C Warrants related to the settlement of General Unsecured Claims associated with the Chapter 11 Cases, as all necessary conditions had not been met for such shares to be considered dilutive shares during the Current Quarter and Prior Quarter, respectively.