XML 55 R44.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Earnings (Loss) Per Share (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2024

Earnings Per Share [Abstract]

Net income per share

The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated:

			Three Months Ended
			June 30,
			2024																								2023
			(In thousands, except per share amounts)
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total						Total
			Common						Common						Equivalents						Common						Common (2)
Basic Earnings (Loss) Per Share:
Net earnings (loss) available to common
and equivalent stockholders			$	19,100					$	58					$	1,228					$	20,386					$	(207,361)
Less: Earnings allocated to unvested restricted stock (1)			2						—						—						2						82
Net earnings (loss) allocated to common
and equivalent shares			$	19,102					$	58					$	1,228					$	20,388					$	(207,279)
Weighted average basic shares and unvested restricted
stock outstanding			158,381						477						10,147						169,005						79,009
Less: weighted average unvested restricted stock
outstanding			(573)						—						—						(573)						(1,327)
Weighted average basic shares outstanding			157,808						477						10,147						168,432						77,682
Basic earnings (loss) per share			$	0.12					$	0.12					$	0.12					$	0.12					$	(2.67)
Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common
and equivalent shares			$	19,102					$	58					$	1,228					$	20,388					$	(207,279)
Weighted average diluted shares outstanding			157,808						477						10,147						168,432						77,682
Diluted earnings (loss) per share			$	0.12					$	0.12					$	0.12					$	0.12					$	(2.67)

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

(2)    Share amounts for the three months ended June 30, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569.

			Six Months Ended
			June 30,
			2024																								2023
			(In thousands, except per share amounts)
															Non-Voting
									Class B						Common
			Voting						Non-Voting						Stock						Total						Total
			Common						Common						Equivalents						Common						Common (2)
Basic Earnings (Loss) Per Share:
Net earnings (loss) available to common
and equivalent stockholders			$	38,622					$	117					$	2,552					$	41,291					$	(1,412,732)
Less: Earnings allocated to unvested restricted stock (1)			(51)						—						—						(51)						(238)
Net earnings (loss) allocated to common
and equivalent shares			$	38,571					$	117					$	2,552					$	41,240					$	(1,412,970)
Weighted average basic shares and unvested restricted
stock outstanding			158,110						477						10,402						168,989						78,997
Less: weighted average unvested restricted stock
outstanding			(702)						—						—						(702)						(1,421)
Weighted average basic shares outstanding			157,408						477						10,402						168,287						77,576
Basic earnings (loss) per share			$	0.25					$	0.25					$	0.25					$	0.25					$	(18.21)
Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common
and equivalent shares			$	38,571					$	117					$	2,552					$	41,240					$	(1,412,970)
Weighted average diluted shares outstanding			157,408						477						10,402						168,287						77,576
Diluted earnings (loss) per share			$	0.25					$	0.25					$	0.25					$	0.25					$	(18.21)

________________________

(1)    Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.

(2)    Share amounts for the six months ended June 30, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the weighted average outstanding restricted shares and warrants that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three and six months ended June 30, 2024 and 2023:

			Three Months Ended												Six Months Ended
			June 30,												June 30,
			2024						2023						2024						2023
			(In thousands)
Restricted stock awards and units (1)			573						1,327						702						1,421
Warrants			18,902						—						18,902						—

____________________________

(1)    Share amounts for the three and six months ended June 30, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569

X

- References

No definition available.

+ Details

Name:	us-gaap_EarningsPerShareAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration