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Earnings Per Share (Tables) | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Reconciliation of Basic and Diluted Earnings Per Share | The following tables set forth reconciliations of the basic and diluted earnings/(loss) per share computations for the periods presented:
|  | Three Months Ended March 31, |
Basic (Loss)/Earnings per Share |  | 2022 |  |  | 2021 |
Net (loss)/income |  | $ | (10,261 | ) |  | $ | 15,147 |
Less: Income distributed to participating securities |  |  | (549 | ) |  |  | (558 | )
Less: Undistributed income allocable to participating securities |  |  | — |  |  |  | (1,152 | )
Net (loss)/income available to common stockholders – Basic EPS |  | $ | (10,810 | ) |  | $ | 13,437 |
Weighted average common shares (in thousands) |  |  | 142,782 |  |  |  | 145,649 |
Basic (loss)/earnings per share |  | $ | (0.08 | ) |  | $ | 0.09 |
|  | Three Months Ended March 31, |
Diluted (Loss)/Earnings per Share |  | 2022 |  |  | 2021 |
Net (loss)/income available to common stockholders |  | $ | (10,810 | ) |  | $ | 13,437 |
Add back: Undistributed income allocable to participating securities |  |  | — |  |  |  | 1,152 |
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive |  |  | — |  |  |  | (1,152 | )
Net (loss)/income available to common stockholders – Diluted EPS |  | $ | (10,810 | ) |  | $ | 13,437 |
Weighted Average Diluted Shares (in thousands): |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 142,782 |  |  |  | 145,649 |
Dilutive effect of common stock equivalents, excluding participating securities |  |  | — |  |  |  | 121 |
Weighted average diluted shares, excluding participating securities (in thousands) |  |  | 142,782 |  |  |  | 145,770 |
Diluted (loss)/earnings per share |  | $ | (0.08 | ) |  | $ | 0.09 |
Schedule of Weighted Average Number of Shares | The following table reconciles weighted average diluted shares as reported in the Consolidated Statements of Operations for the three months ended March 31, 2022 and 2021, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings/(loss) per share as disclosed in the table above:
|  | Three Months Ended March 31, |
Reconciliation of Weighted Average Diluted Shares (in thousands) |  | 2022 |  |  | 2021 |
Weighted average diluted shares as disclosed in the Consolidated Statements of Operations |  |  | 142,782 | (1) |  |  | 161,831 |
Less: Participating securities |  |  |  |  |  |  |  |
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 11) |  |  | — |  |  |  | (14,750 | )
Potentially dilutive restricted stock awards |  |  | — |  |  |  | (1,311 | )
Weighted average diluted shares used to calculate diluted (loss)/earnings per share as disclosed in the table above |  |  | 142,782 |  |  |  | 145,770 |
| (1) | Excludes 15,521 participating securities and 31 potentially dilutive non-participating common stock equivalents for the three months ended March 31, 2022 as the Company reported a net loss for the period (shares herein are reported in thousands).

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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