Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

The following table reconciles basic and diluted earnings per common share for the three and six months ended June 30, 2024 and 2023:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(In thousands, except per share amounts)
Basic:
Net income (loss)	$	56,860	$	27,187	$	28,579	$	(79,285)
Weighted-average number of common shares	342,200		354,577		344,555		354,748
Basic net income (loss) per common share	$	0.17	$	0.08	$	0.08	$	(0.22)

Diluted:
Net income (loss)	$	56,860	$	27,187	$	28,579	$	(79,285)
Weighted-average number of common shares	342,200		354,577		344,555		354,748
Dilutive share-based awards (a)	2,209		2,637		2,804		—
Weighted-average number of common and potential common shares	344,409		357,214		347,359		354,748
Diluted net income (loss) per common share	$	0.17	$	0.08	$	0.08	$	(0.22)

(a)For each of the three and six months ended June 30, 2024, 7.8 million share-based awards were excluded from the calculation of diluted net income (loss) per common share because their effect would be antidilutive. For the three and six months ended June 30, 2023, 11.3 million and 15.4 million share-based awards, respectively, were excluded from the calculation of diluted net income (loss) per common share because their effect would be antidilutive.