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Net Income Per Common Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Net Income Per Common Share | Note 7 - Net Income Per Common Share The following table displays a reconciliation of the information used in calculating basic and diluted net income (loss) per common share for the three and six months ended June 30, 2024 and 2023. Diluted net income per common share incorporates the potential impact of contingently issuable shares, including awards which require future service as a condition of delivery of the underlying common stock.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Basic Net Income (Loss) Per Common Share: |  |  |  |  |  |  |
Net income (loss) available to common shareholders | $ | (23,741) |  |  | $ | 165,819 |  |  | $ | 91,081 |  |  | $ | 359,688 |
Weighted average common shares outstanding | 145,565 |  |  | 146,113 |  |  | 145,998 |  |  | 145,957 |
Net income (loss) per common share, basic | $ | (0.16) |  |  | $ | 1.13 |  |  | $ | 0.62 |  |  | $ | 2.46 |
Diluted Net Income (Loss) Per Common Share: |  |  |  |  |  |  |
Net income (loss) available to common shareholders | $ | (23,741) |  |  | $ | 165,819 |  |  | $ | 91,081 |  |  | $ | 359,688 |
Weighted average common shares outstanding | 145,565 |  |  | 146,113 |  |  | 145,998 |  |  | 145,957 |
Effect of dilutive outstanding equity-based awards(1) | — |  |  | 437 |  |  | 570 |  |  | 687 |
Weighted average diluted common shares | 145,565 |  |  | 146,550 |  |  | 146,568 |  |  | 146,644 |
Net income (loss) per common share, diluted | $ | (0.16) |  |  | $ | 1.13 |  |  | $ | 0.62 |  |  | $ | 2.45 |
(1) Due to the net loss attributable to common shareholders for the three months ended June 30, 2024, there were no dilutive shares included in the diluted net loss per common share calculation; as such shares would have been anti-dilutive. Due to the net loss attributable to common shareholders for the three months ended June 30, 2024, 490 thousand of contingently issuable shares, including awards which require future service as a condition of delivery of the underlying common stock, were excluded from the computation of diluted net loss per common share because the effect would have been anti-dilutive. For the six months ended June 30, 2024, there were 21 thousand potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. For both the three and six months ended June 30, 2023, there were 273 thousand potentially dilutive shares related to stock options to purchase shares of common stock that were outstanding. These potentially dilutive shares were not included in the computation of diluted net income (loss) per common share because the effect would be anti-dilutive.

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