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EARNINGS (LOSS) PER SHARE (Tables) | 9 Months Ended
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Sep. 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 September 30, 2023 |  | Three Months Ended September 30, 2022
Net income (loss) | $ | 608,444 |  |  | $ | (18,472) |
Dividends on preferred stock | (1,133) |  |  | (1,309) |
Participating securities - preferred stock(1) | (89,756) |  |  | — |
Net income (loss) attributable to common stockholders | $ | 517,555 |  |  | $ | (19,781) |
Re-allocation of participating securities | 1,147 |  |  | — |
Diluted net income (loss) attributable to common stockholders | $ | 518,702 |  |  | $ | (19,781) |
Basic Shares | 18,670 |  |  | 19,635 |
Dilutive Shares | 18,954 |  |  | 19,635 |
Basic EPS | $ | 27.72 |  |  | $ | (1.01) |
Dilutive EPS | $ | 27.37 |  |  | $ | (1.01) |
_____________________ (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.
| Nine Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2022
Net income (loss) | $ | 1,225,185 |  |  | $ | (253,867) |
Dividends on preferred stock | (3,718) |  |  | (4,136) |
Participating securities - preferred stock(1) | (180,394) |  |  | — |
Net income (loss) attributable to common stockholders | $ | 1,041,073 |  |  | $ | (258,003) |
Re-allocation of participating securities | 2,043 |  |  | — |
Diluted net income (loss) attributable to common stockholders | $ | 1,043,116 |  |  | $ | (258,003) |
Basic Shares | 18,686 |  |  | 20,514 |
Dilutive Shares | 18,937 |  |  | 20,514 |
Basic EPS | $ | 55.72 |  |  | $ | (12.58) |
Dilutive EPS | $ | 55.08 |  |  | $ | (12.58) |
_____________________ (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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