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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share represents income available to ordinary shareholders divided by the weighted average number of Ordinary Shares outstanding during the reported period. Diluted earnings per share is based upon the weighted-average number of Ordinary Shares outstanding during the period plus additional weighted-average potentially dilutive Ordinary Share equivalents during the period when the effect is dilutive. Basic and diluted weighted average shares outstanding and earnings per share were as follows (in thousands, except share and per share data):
| Successor |  |  | Predecessor
| Year Ended December 31, 2023 |  | Year Ended December 31, 2022 |  | November 9, 2021 Through December 31, 2021 |  |  | January 1, 2021 Through November 8, 2021
Net income (loss) | $ | 67,486 |  |  | $ | 91,758 |  |  | $ | (682,149) |  |  |  | $ | 20,629 |
Weighted-average shares outstanding: |  |  |  |  |  |  |  |
Weighted average shares used in computing earnings per share, basic | 154,666,717 |  |  | 160,937,575 |  |  | 157,158,579 |  |  |  | 53,045,510 |
Founders advisory fees | 11,785,305 |  |  | 14,142,366 |  |  | — |  |  |  | — |
Weighted average shares used in computing earnings per share, diluted | 166,452,022 |  |  | 175,079,941 |  |  | 157,158,579 |  |  |  | 53,045,510 |
Basic earnings per share | $ | 0.44 |  |  | $ | 0.57 |  |  | $ | (4.34) |  |  |  | $ | 0.39 |
Diluted earnings per share | $ | 0.41 |  |  | $ | 0.52 |  |  | $ | (4.34) |  |  |  | $ | 0.39 |
As of December 31, 2023, 11.2 million PBNQSO and 15.8 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent Warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive. As of December 31, 2022, 10.3 million PBNQSO and 22.4 million Ordinary Shares issuable under the Founder Advisory Agreement were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent Warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive. As of December 31, 2021, 8.8 million PBNQSO were excluded from the diluted earnings per share calculation as the contingencies related to such instruments had not been met. In addition, 8.5 million Ordinary Shares equivalent Warrants were excluded from the diluted earnings per share calculation as their effect would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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