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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Reconciliation of Common Stock Outstanding

The following table provides a reconciliation of the beginning and ending shares of common stock outstanding for the six months ended June 30, 2023 and the twelve months ended December 31, 2022:

			SIX MONTHS ENDED JUNE 30, 2023			TWELVE MONTHS ENDED DECEMBER 31, 2022
Balance, beginning of period			380,589,894			150,457,433
Issuance of common stock			4,817			229,618,304
Non-vested share-based awards, net of withheld shares			262,821			514,157
Balance, end of period			380,857,532			380,589,894

Schedule of Earnings (Loss) per Share

The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2023 and 2022.

			THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
Dollars in thousands, except per share data			2023			2022			2023			2022
Weighted average common shares outstanding
Weighted average common shares outstanding			380,829,011			151,620,897			380,812,981			151,230,064
Non-vested shares			(1,932,334)			(1,945,042)			(1,952,350)			(1,908,652)
Weighted average common shares outstanding - basic			378,896,677			149,675,855			378,860,631			149,321,412
Weighted average common shares outstanding - basic			378,896,677			149,675,855			378,860,631			149,321,412
Dilutive effect of employee stock purchase plan			—			62,694			—			75,394
Weighted average common shares outstanding - diluted			378,896,677			149,738,549			378,860,631			149,396,806
Net (loss) income attributable to common stockholders			$	(82,759)		$	6,130		$	(169,884)		$	48,357
Dividends paid on nonvested share-based awards			(588)			(601)			(1,193)			(1,207)
Net (loss) income applicable to common stockholders - basic			$	(83,347)		$	5,529		$	(171,077)		$	47,150
Basic earnings per common share - net income			$	(0.22)		$	0.04		$	(0.45)		$	0.32
Diluted earnings per common share - net income			$	(0.22)		$	0.04		$	(0.45)		$	0.32

Summary of the Activity Under the Incentive Plan and Restricted Stock Unit

A summary of the activity under the Company's share-based incentive plans for the three and six months ended June 30, 2023 and 2022 is included in the table below.

			THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
			2023			2022			2023			2022
Share-based awards, beginning of period			1,955,445			1,951,551			1,795,128			1,562,028
Granted			43,276			26,840			325,816			442,024
Vested			(62,640)			(36,682)			(164,360)			(61,047)
Forfeited			(3,860)			—			(24,363)			(1,296)
Share-based awards, end of period			1,932,221			1,941,709			1,932,221			1,941,709

The following is a summary of the RSU activity during the three and six months ended June 30, 2023:

			THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
			Restricted Stock Units			Weighted Average Grant Date Fair Value			Restricted Stock Units			Weighted Average Grant Date Fair Value
Non-vested, beginning of period			363,250			$	28.57		294,932			33.04
Granted			—			—			165,174			$	22.55
Vested/Forfeited			—			—			(17,606)			33.04
Probability adjustment of 2022 RSUs			—			—			(79,250)			31.68
Non-vested, end of period			363,250			$	28.57		363,250			28.57

Schedule of Stock Options, Valuation Assumptions

						THREE MONTHS ENDED MARCH 31,
Volatility									34.0		%
Dividend assumption									Accrued
Expected term									3 years
Risk-free rate									4.42		%
Stock price (per share)									$20.21

						THREE MONTHS ENDED MARCH 31,
Volatility									34.0		%
Dividend assumption									Accrued
Expected term									3 years
Risk-free rate									4.42		%
Stock price (per share)									$20.21

Summary of Employee Stock Purchase Plan Activity

A summary of the activity under the ESPP for the three and six months ended June 30, 2023 and 2022 is included in the table below.

			THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
			2023			2022			2023			2022
Outstanding and exercisable, beginning of period			183,426			427,802			340,976			348,514
Granted			—			—			—			255,960
Exercised			(1,687)			(1,965)			(4,817)			(12,518)
Forfeited			(2,370)			(20,303)			(23,791)			(45,789)
Expired			—			—			(132,999)			(140,633)
Outstanding and exercisable, end of period			179,369			405,534			179,369			405,534

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table represents expected amortization of the Company's non-vested shares issued as of June 30, 2023:

Dollars in millions			FUTURE AMORTIZATION of non-vested shares
2023			$	7.7
2024			13.3
2025			10.8
2026			8.0
2027			2.4
2028 and thereafter			0.5
Total			$	42.7

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