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(Loss) Earnings Per Share (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 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
			September 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 Loss Per Share:
Net loss available to common
and equivalent stockholders			$	(1,092)					$	(3)					$	(68)					$	(1,163)					$	(33,291)
Less: Earnings allocated to unvested restricted stock (1)			59						—						—						59						374
Net loss allocated to common
and equivalent shares			$	(1,033)					$	(3)					$	(68)					$	(1,104)					$	(32,917)
Weighted average basic shares and unvested restricted
stock outstanding			158,503						477						9,903						168,883						78,831
Less: weighted average unvested restricted stock
outstanding			(300)						—						—						(300)						(950)
Weighted average basic shares outstanding			158,203						477						9,903						168,583						77,881
Basic loss per share			$	(0.01)					$	(0.01)					$	(0.01)					$	(0.01)					$	(0.42)
Diluted Loss Per Share:
Net loss allocated to common
and equivalent shares			$	(1,033)					$	(3)					$	(68)					$	(1,104)					$	(32,917)
Weighted average diluted shares outstanding			158,203						477						9,903						168,583						77,881
Diluted loss per share			$	(0.01)					$	(0.01)					$	(0.01)					$	(0.01)					$	(0.42)

________________________

(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 September 30, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569.

			Nine Months Ended
			September 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			$	37,575					$	114					$	2,439					$	40,128					$	(1,446,023)
Less: Earnings allocated to unvested restricted stock (1)			27						—						—						27						136
Net earnings (loss) allocated to common
and equivalent shares			$	37,602					$	114					$	2,439					$	40,155					$	(1,445,887)
Weighted average basic shares and unvested restricted
stock outstanding			158,242						477						10,234						168,953						78,941
Less: weighted average unvested restricted stock
outstanding			(567)						—						—						(567)						(1,263)
Weighted average basic shares outstanding			157,675						477						10,234						168,386						77,678
Basic earnings (loss) per share			$	0.24					$	0.24					$	0.24					$	0.24					$	(18.61)
Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common
and equivalent shares			$	37,602					$	114					$	2,439					$	40,155					$	(1,445,887)
Weighted average diluted shares outstanding			157,675						477						10,234						168,386						77,678
Diluted earnings (loss) per share			$	0.24					$	0.24					$	0.24					$	0.24					$	(18.61)

________________________

(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 nine months ended September 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 nine months ended September 30, 2024 and 2023:

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2024						2023						2024						2023
			(In thousands)
Restricted stock awards and units (1)			300						950						567						1,263
Warrants			18,902						—						18,902						—

____________________________

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

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- References

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- 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

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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

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