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Earnings Per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

13. Earnings Per Share

 

We provide a dual presentation of our net income (loss) per common share in our unaudited condensed consolidated statements of operations: basic net income (loss) per common share (“Basic EPS”) and diluted net income (loss) per common share (“Diluted EPS”).

 

Basic EPS excludes dilution and is determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period.

 

Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options and non-vested performance units and non-vested restricted stock units. The dilutive effect of stock options, non-vested performance units and non-vested restricted stock units is determined using the treasury stock method.

 

The following table presents information necessary to calculate net income (loss) per share for the three and six months ended June 30, 2023 and 2022 as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

June 30,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

BASIC EPS:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributed to common stockholders

$

84,614

 

 

$

21,886

 

 

$

184,292

 

 

$

(6,891

)

Weighted average number of common shares outstanding

 

207,839

 

 

 

216,165

 

 

 

209,952

 

 

 

215,718

 

Basic net income (loss) per common share

$

0.41

 

 

$

0.10

 

 

$

0.88

 

 

$

(0.03

)

DILUTED EPS:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributed to common stockholders

$

84,614

 

 

$

21,886

 

 

$

184,292

 

 

$

(6,891

)

Weighted average number of common shares outstanding

 

207,839

 

 

 

216,165

 

 

 

209,952

 

 

 

215,718

 

Add dilutive effect of potential common shares

 

1,145

 

 

 

3,511

 

 

 

1,236

 

 

 

—

 

Weighted average number of diluted common shares outstanding

 

208,984

 

 

 

219,676

 

 

 

211,188

 

 

 

215,718

 

Diluted net income (loss) per common share

$

0.40

 

 

$

0.10

 

 

$

0.87

 

 

$

(0.03

)

Potentially dilutive securities excluded as anti-dilutive

 

6,084

 

 

 

3,683

 

 

 

2,572

 

 

 

9,982