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Earnings (Loss) per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings (Loss) per Share | Earnings (Loss) per Share Basic earnings (loss) per share is computed by dividing net income, after the deduction of preferred stock dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share assumes the issuance of common stock for all potentially dilutive share equivalents outstanding not classified as participating securities. Participating securities are defined as unvested stock-based compensation awards that contain nonforfeitable rights to dividends.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands, except per share values) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) | $ | 66,648 |  |  | $ | 65,256 |  |  | $ | 197,021 |  |  | $ | (17,827) |
Preferred stock dividends | (10) |  |  | (10) |  |  | (30) |  |  | (30) |
Net income (loss) attributable to common equity | 66,638 |  |  | 65,246 |  |  | 196,991 |  |  | (17,857) |
Dividends and undistributed earnings allocated to participating securities | (6) |  |  | (8) |  |  | (19) |  |  | (16) |
Net income (loss) attributable to common shareholders | 66,632 |  |  | 65,238 |  |  | 196,972 |  |  | (17,873) |
Basic weighted-average shares outstanding | 39,362 |  |  | 39,303 |  |  | 39,370 |  |  | 39,267 |
Stock-based compensation awards(a) | 133 |  |  | 147 |  |  | 160 |  |  | — |
Diluted weighted-average shares outstanding | 39,495 |  |  | 39,450 |  |  | 39,530 |  |  | 39,267 |
Antidilutive shares | — |  |  | — |  |  | — |  |  | 154 |
Earnings (loss) per share: |  |  |  |  |  |  |
Basic | $ | 1.69 |  |  | $ | 1.66 |  |  | $ | 5.00 |  |  | $ | (0.46) |
Diluted | $ | 1.69 |  |  | $ | 1.65 |  |  | $ | 4.98 |  |  | $ | (0.46) |
(a) During periods in which the Company incurs a net loss, stock-based compensation awards are excluded from the computation of diluted earnings per share because their effect would be anti-dilutive. As such, during periods in which the Company incurs a net loss, diluted weighted-average shares outstanding are equivalent to basic weighted-average shares outstanding.

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- 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
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