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EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

During the periods when there is a net loss, potentially dilutive common stock equivalents have been excluded from the calculation of diluted loss per share as their effect is anti-dilutive.

			For the year ended December 31,
			2022						2021						2020
Weighted-average shares outstanding, basic			176,519,203						173,469,546						79,690,821
Assumed conversion of Public Warrants			—						2,840,624						—
Assumed conversion of Convertible Notes			15,584,409						11,997,860						—
Assumed conversion of restricted stock			921,772						1,257,360						—
Assumed conversion of RSUs			427,703						278,638						—
Weighted-average shares outstanding, diluted			193,453,087						189,844,028						79,690,821

Earnings (loss) per share

The following table presents the calculation of basic and diluted EPS for the Company’s Common Stock:

			For the year ended December 31,
(in thousands, except share and per share data)			2022						2021						2020
Calculation of basic EPS:
Net income (loss)			$	289,004					$	135,037					$	(21,825)
Weighted-average shares outstanding, basic			176,519,203						173,469,546						79,690,821
Basic EPS			$	1.64					$	0.78					$	(0.27)
Calculation of diluted EPS:
Net income (loss)			$	289,004					$	135,037					$	(21,825)
Interest expense, net of tax(1):
Convertible Notes			4,441						3,366						—
Diluted income (loss)			$	293,445					$	138,403					$	(21,825)
Weighted-average shares outstanding, diluted			193,453,087						189,844,028						79,690,821
Diluted EPS			$	1.52					$	0.73					$	(0.27)

(1)The years ended December 31, 2022 and 2021, were tax-effected at a rate of 15.3% and 15.7%, respectively. As discussed in Note 8, “Debt Obligations,” the Convertible Notes were issued in March 2021; therefore, no adjustment is required for the year ended December 31, 2020.

Potentially dilutive securities

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding as they would be anti-dilutive:

			For the year ended December 31,
			2022						2021						2020
Public Warrants			—						—						11,499,968
Restricted stock			—						—						1,813,006
RSUs			24,442						18,322						397,662
Total			24,442						18,322						13,710,636

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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