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Earnings Per Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | 21. 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 | )
Diluted earnings /(loss) per share presented above is calculated using the two-class method as this method results in the lowest diluted earnings per share amount for common stock. Total antidilutive non-participating common stock equivalents were 405 , 132 and 315 during the years ended December 31 , 2022 , 2021 and 2020 , respectively (shares herein are reported in thousands). During the year ended December 31 , 2020 , there were no dilutive common stock equivalents as the Company reported a net loss for the period. There were no potential common shares associated with the conversion option embedded in the Convertible Notes included in weighted average diluted shares for the year ended December 31, 2022 and 2020 as the Company’s average stock price was lower than the conversion price. Potential common shares associated with the conversion option embedded in the Convertible Notes for the year ended December 31, 2021 were 1,186 (shares herein are reported in thousands). 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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