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Earnings Per Share (Tables) | 12 Months Ended
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Dec. 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:
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Basic Earnings/(Loss) per Share |  |  |  |  |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | 50,684 |  |  | $ | 49,797 |  |  | $ | (35,655 | )
Less: Income distributed to participating securities |  |  | (2,186 | ) |  |  | (2,168 | ) |  |  | (2,216 | )
Less: Undistributed income allocable to participating securities |  |  | (3,528 | ) |  |  | (3,378 | ) |  |  | — |
Net income/(loss) available to common stockholders—Basic EPS |  | $ | 44,970 |  |  | $ | 44,251 |  |  | $ | (37,871 | )
Weighted average common shares (in thousands) |  |  | 143,020 |  |  |  | 143,847 |  |  |  | 148,682 |
Basic income/(loss) per share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | (0.25 | )
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Diluted Earnings/(Loss) per Share |  |  |  |  |  |  |  |  |  |  |  |
Net income/(loss) available to common stockholders |  | $ | 44,970 |  |  | $ | 44,251 |  |  | $ | (37,871 | )
Add back: Undistributed income allocable to participating securities |  |  | 3,528 |  |  |  | 3,378 |  |  |  | — |
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive |  |  | (3,522 | ) |  |  | (3,353 | ) |  |  | — |
Net income/(loss) available to common stockholders—Diluted EPS |  | $ | 44,976 |  |  | $ | 44,276 |  |  | $ | (37,871 | )
Weighted Average Diluted Shares (in thousands): |  |  |  |  |  |  |  |  |
Weighted average common shares |  |  | 143,020 |  |  |  | 143,847 |  |  |  | 148,682 |
Dilutive effect of common stock equivalents, excluding participating securities |  |  | 275 |  |  |  | 1,208 |  |  |  | — |
Weighted average diluted shares, excluding participating securities (in thousands) |  |  | 143,295 |  |  |  | 145,055 |  |  |  | 148,682 |
Diluted income/(loss) per share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | (0.25 | )
Schedule of Weighted Average Number of Shares | The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020, 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:
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Reconciliation of Weighted Average Diluted Shares (in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Weighted average diluted shares as disclosed on the Consolidated Statements of Operations |  |  | 158,914 |  |  |  | 161,263 |  |  |  | 148,682 | (1)
Less: Participating securities: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 13) |  |  | (14,750 | ) |  |  | (14,750 | ) |  |  | — |
Potentially dilutive restricted stock awards |  |  | (869 | ) |  |  | (1,458 | ) |  |  | — |
Weighted average diluted shares used to calculate diluted earnings/(loss) per share as disclosed in the table above |  |  | 143,295 |  |  |  | 145,055 |  |  |  | 148,682 | (1)
(1) | Excludes 15,122 participating securities for the year ended December 31, 2020 and 6 potentially dilutive common stock equivalents as the Company reported a net loss for the period (shares herein are reported in thousands).

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