Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Basic and Diluted Earnings Per 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.