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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share |
5. (Loss) Earnings Per Share
The following table sets forth the computation of basic and diluted (loss) earnings per share:
| Years ended December 31,
(dollars in thousands, except per share amounts) | 2024 | 2023 | 2022
Numerator: |  |  |
Net (loss) income | $ | (283,172) |  | $ | 1,820 |  | $ | (45,407) |
Denominator: |  |  |
Weighted average common shares | 50,560,538 |  | 52,546,406 |  | 51,569,148 |
Add effect of dilutive securities: |  |  |
Restricted stock and units | — |  | 1,174,936 |  | — |
Weighted average common shares assuming dilution | 50,560,538 |  | 53,721,342 |  | 51,569,148 |
(Loss) earnings per share |  |  |
Basic | $ | (5.60) |  | $ | 0.03 |  | $ | (0.88) |
Diluted | $ | (5.60) |  | $ | 0.03 |  | $ | (0.88) |
Anti-dilutive shares excluded from calculations of diluted (loss) earnings per share | 54,236 |  | 45,614 |  | 1,046,307 |
Diluted loss per share for the years ended December 31, 2024 and 2022 was the same as basic loss per share as there were net losses in each period and inclusion of potentially dilutive securities was anti-dilutive.

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