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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic and diluted earnings per common share (“EPS”) for the three and nine months ended September 30, 2025 and 2024, were:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in thousands, except per share data)
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 145,816 |  |  | $ | 199,801 |  |  | $ | (186,363) |  |  | $ | 581,162 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding - basic | 53,641 |  |  | 59,046 |  |  | 55,169 |  |  | 59,973 |
Plus: Dilutive effect of stock options and unvested restricted stock units | 348 |  |  | 455 |  |  | — |  |  | 464 |
Weighted average common shares outstanding - diluted | 53,989 |  |  | 59,501 |  |  | 55,169 |  |  | 60,437 |
Net income (loss) per common share: |  |  |  |  |  |  |
Basic | $ | 2.72 |  |  | $ | 3.38 |  |  | $ | (3.38) |  |  | $ | 9.69 |
Diluted | $ | 2.70 |  |  | $ | 3.36 |  |  | $ | (3.38) |  |  | $ | 9.62 |
In the three and nine months ended September 30, 2025, 0.1 million and 0.5 million outstanding shares issued under share-based compensation awards were anti-dilutive, respectively. Therefore, we excluded these shares from the calculation of diluted EPS. In the three and nine months ended September 30, 2024, an insignificant number of outstanding shares issued under share-based compensation awards were anti-dilutive and, therefore, excluded from the calculation of diluted EPS.

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