EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):


	Successor				Predecessor
	Year Ended December 31, 2022		Period from May 18, 2021 through December 31, 2021		Period from January 1, 2021 through May 17, 2021		Year Ended December 31, 2020
Net income (loss)	$	494,701	$	(112,829)	$	250,994	$	(1,625,133)
Dividends on Preferred Stock	(5,444)		(4,573)		—		—
Participating securities - Preferred Stock(1)	(76,401)		—		—		—
Net income (loss) attributable to common stockholders	$	412,856	$	(117,402)	$	250,994	$	(1,625,133)
Re-allocation of participating securities	512		—		—		—
Diluted net income (loss) attributable to common stockholders	$	413,368	$	(117,402)	$	250,994	$	(1,625,133)
Basic Shares	20,185		20,545		160,834		160,231
Dilutive Shares	20,347		20,545		160,834		160,231
Basic EPS	$	20.45	$	(5.71)	$	1.56	$	(10.14)
Dilutive EPS	$	20.32	$	(5.71)	$	1.56	$	(10.14)

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(1) Preferred Stock represents participating securities because they participate in any dividends on shares of Common Stock on a pari passu, pro rata basis. However, Preferred Stock does not participate in undistributed net losses.