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Shareholders' Equity | 6 Months Ended
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Jun. 30, 2023
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders' Equity a) The Company has 50,000,000 shares of no par value common stock authorized. The following table presents a rollforward of changes in common shares issued and outstanding.
| Quarter Ended June 30, |  | Six Months Ended June 30, |  |  |
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |
Issued and outstanding common shares, beginning of period | 13,362 |  |  | 13,570 |  |  | 13,423 |  |  | 13,632 |  |  |  |
Issuance of common shares | 1 |  |  | 1 |  |  | 3 |  |  | 2 |  |  |  |
Repurchase of common shares | (78) |  |  | (33) |  |  | (141) |  |  | (96) |  |  |  |
Issued and outstanding common shares, end of period | 13,285 |  |  | 13,538 |  |  | 13,285 |  |  | 13,538 |  |  |  |
b) The Company also has 10,000,000 shares of no par value preferred stock authorized, of which 600,000 shares were issued and outstanding at June 30, 2023 and December 31, 2022. The Company declared and paid dividends on preferred shares of $18.0 million, or $30 per share, in both the quarter ended June 30, 2023 and 2022. c) Net income (loss) per common share was determined by dividing adjusted net income (loss) to common shareholders by the applicable weighted average common shares outstanding. Basic common shares outstanding include restricted stock units that are no longer subject to any contingencies for issuance, but for which corresponding shares have not been issued. Diluted net income (loss) per common share is computed by dividing adjusted net income (loss) to common shareholders by the weighted average number of common shares and dilutive potential common shares outstanding during the period. The following table presents net income (loss) per common share and diluted net income (loss) per common share.
| Quarter Ended June 30, |  | Six Months Ended June 30,
(in thousands, except per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income (loss) to common shareholders | $ | 677,511 |  |  | $ | (933,796) |  |  | $ | 1,166,163 |  |  | $ | (985,537) |
Adjustment of redeemable noncontrolling interests | (5,758) |  |  | (7,498) |  |  | 7,715 |  |  | (44,438) |
Adjusted net income (loss) to common shareholders | $ | 671,753 |  |  | $ | (941,294) |  |  | $ | 1,173,878 |  |  | $ | (1,029,975) |
Basic common shares outstanding | 13,382 |  |  | 13,612 |  |  | 13,416 |  |  | 13,632 |
Dilutive potential common shares from restricted stock units and restricted stock (1) | 29 |  |  | — |  |  | 25 |  |  | — |
Diluted common shares outstanding | 13,411 |  |  | 13,612 |  |  | 13,441 |  |  | 13,632 |
Basic net income (loss) per common share | $ | 50.20 |  |  | $ | (69.15) |  |  | $ | 87.50 |  |  | $ | (75.56) |
Diluted net income (loss) per common share (1) | $ | 50.09 |  |  | $ | (69.15) |  |  | $ | 87.34 |  |  | $ | (75.56) |
(1) The impact of 31 thousand and 29 thousand shares from restricted stock units and restricted stock was excluded from the computation of diluted net loss per common share for the quarter and six months ended June 30, 2022, respectively, because the effect would have been anti-dilutive.

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