EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

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


	Successor						Predecessor
	Year Ended December 31, 2023		Year Ended December 31, 2022		Period from May 18, 2021 through December 31, 2021		Period from January 1, 2021 through May 17, 2021
Net income (loss)	$	1,470,916	$	494,701	$	(112,829)	$	250,994
Dividends on Preferred Stock	(4,840)		(5,444)		(4,573)		—
Participating securities - Preferred Stock(1)	(212,360)		(76,401)		—		—
Net income (loss) attributable to common stockholders	$	1,253,716	$	412,856	$	(117,402)	$	250,994
Re-allocation of participating securities	2,475		512		—		—
Diluted net income (loss) attributable to common stockholders	$	1,256,191	$	413,368	$	(117,402)	$	250,994
Basic Shares	18,645		20,185		20,545		160,834
Dilutive Shares	18,902		20,347		20,545		160,834
Basic EPS	$	67.24	$	20.45	$	(5.71)	$	1.56
Dilutive EPS	$	66.46	$	20.32	$	(5.71)	$	1.56

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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.