XML 54 R12.htm IDEA: XBRL DOCUMENT
v3.24.0.1

EARNINGS PER SHARE | 12 Months Ended
--- | ---
Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The Company’s Series A Preferred Stock is classified as a participating security in accordance with ASC 260. Net income allocated to the holders of Series A Preferred Stock is based on the Series A stockholders' proportionate share of weighted average shares of common stock outstanding on an if-converted basis. For purposes of determining diluted earnings per common share, basic earnings per common share was adjusted to include the effect of potential dilutive common shares outstanding. These potential dilutive shares include unvested restricted stock and performance-based stock units. The more dilutive of the two-class method or the treasury method is used for this adjustment. Additionally, Series A Preferred Stock is included using the if-converted method. Under the two-class method, net income is reallocated to common stock, the Series A Preferred Stock, and all dilutive securities based on the contractual participating rights of the respective securities to share in the current earnings as if all of the earnings for the period had been distributed.
| For the years ended December 31,
| 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |
Net income (loss) | $ | 226,801 |  |  | $ | (187,282) |  |  | $ | 3,937 |
Convertible preferred stock dividends | (27,462) |  |  | (11,526) |  |  | — |
Allocation of earnings to participating securities | (17,348) |  |  | — |  |  | — |
Net income (loss) attributable to common stockholders | $ | 181,991 |  |  | $ | (198,808) |  |  | $ | 3,937 |
Effect of dilutive securities: |  |  |  |  |
Allocation of earnings to participating securities | $ | 17,348 |  |  | $ | — |  |  | $ | — |
Reallocation of earnings to participating securities | (16,934) |  |  | — |  |  | — |
Numerator for Diluted EPS - Income (loss) available to common stockholders after assumed conversions | $ | 182,405 |  |  | $ | (198,808) |  |  | $ | 3,937 |
Denominator: |  |  |  |  |
Weighted average basic common shares outstanding | 230,784 |  |  | 226,947 |  |  | 221,343 |
Dilutive effect of common shares | 6,180 |  |  | — |  |  | 11,724 |
Weighted average diluted common shares outstanding | 236,964 |  |  | 226,947 |  |  | 233,067 |
Earnings per share: |  |  |  |  |
Basic | $ | 0.79 |  |  | $ | (0.88) |  |  | $ | 0.02 |
Diluted | $ | 0.77 |  |  | $ | (0.88) |  |  | $ | 0.02 |
For the years ended December 31, 2023 and 2022, approximately 22.0 million and 30.6 million potentially dilutive securities were excluded from the computation of diluted earnings per share related to common stockholders, as their effect was antidilutive. No potentially dilutive securities were antidilutive or were excluded from the computation for the year ended December 31, 2021.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration