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EARNINGS (LOSS) PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Earnings (Loss) Per Share | Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
| Three Months Ended June 30, 2023 |  | Three Months Ended June 30, 2022
Net income | $ | 93,687 |  |  | $ | 256,580 |
Dividends on preferred stock | (1,278) |  |  | (1,380) |
Participating securities - preferred stock(1) | (14,044) |  |  | (39,590) |
Net income attributable to common stockholders | $ | 78,365 |  |  | $ | 215,610 |
Re-allocation of participating securities | 182 |  |  | 310 |
Diluted net income attributable to common stockholders | $ | 78,547 |  |  | $ | 215,920 |
Basic Shares | 18,518 |  |  | 20,684 |
Dilutive Shares | 18,805 |  |  | 20,877 |
Basic EPS | $ | 4.23 |  |  | $ | 10.42 |
Dilutive EPS | $ | 4.18 |  |  | $ | 10.34 |
_____________________ (1) Preferred stock represents participating securities because it participates 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.
| Six Months Ended June 30, 2023 |  | Six Months Ended June 30, 2022
Net income (loss) | $ | 616,741 |  |  | $ | (235,395) |
Dividends on preferred stock | (2,585) |  |  | (2,828) |
Participating securities - preferred stock(1) | (92,611) |  |  | — |
Net income (loss) attributable to common stockholders | $ | 521,545 |  |  | $ | (238,223) |
Re-allocation of participating securities | 1,008 |  |  | — |
Diluted net income (loss) attributable to common stockholders | $ | 522,553 |  |  | $ | (238,223) |
Basic Shares | 18,688 |  |  | 20,961 |
Dilutive Shares | 18,930 |  |  | 20,961 |
Basic EPS | $ | 27.91 |  |  | $ | (11.36) |
Dilutive EPS | $ | 27.60 |  |  | $ | (11.36) |
_____________________ (1) Preferred stock represents participating securities because it participates 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.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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