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Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

20. Earnings Per Share

The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:

   Three Months Ended
June 30,		  Six Months Ended
June 30,
Basic Earnings per Share  2024  2023  2024  2023
Net income  $21,759   $54,252   $43,870   $70,485 
Less:  Income distributed to participating securities   (462)   (496)   (924)   (994)
Less:  Undistributed income allocable to participating securities   (1,603)   (7,046)   (3,260)   (7,583)
Net income available to common stockholders—Basic EPS  $19,694   $46,710   $39,686   $61,908 
Weighted average common shares (in thousands)   146,896    144,351    146,680    144,108 
Basic earnings per share  $0.13   $0.32   $0.27   $0.43 

   Three Months Ended
June 30,		  Six Months Ended
June 30,
Diluted Earnings per Share  2024  2023  2024  2023
Net income available to common stockholders  $19,694   $46,710   $39,686   $61,908 
Add back:  Undistributed income allocable to participating securities   1,603    7,046    3,260    7,583 
Less:  Reallocation of undistributed income allocable to participating securities considered potentially dilutive   (1,561)   (6,904)   (3,182)   (7,490)
Net income available to common stockholders—Diluted EPS  $19,736   $46,852   $39,764   $62,001 
Weighted Average Diluted Shares (in thousands):                    
Weighted average common shares   146,896    144,351    146,680    144,108 
Dilutive effect of common stock equivalents, excluding participating securities   4,312    3,464    3,962    2,047 
Weighted average diluted shares, excluding participating securities (in thousands)   151,208    147,815    150,642    146,155 
Diluted earnings per share  $0.13   $0.32   $0.26   $0.42 

Diluted earnings 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. There were 16 and 8 antidilutive non-participating common stock equivalents for the three and six months ended June 30, 2024, respectively. Total antidilutive non-participating common stock equivalents were 157 and 208, respectively for the three and six months ended June 30, 2023 (shares herein are reported in thousands).

There were no potential common shares associated with the conversion options embedded in the Convertible Notes included in weighted average diluted shares for the three and six months ended June 30, 2024 and 2023 as the Company’s average stock price was lower than the conversion price.

The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above:

  

Three Months Ended

June 30,

 

Six Months Ended

June 30,

Reconciliation of Weighted Average Diluted Shares (in thousands)  2024  2023  2024  2023
Weighted average diluted shares as disclosed on the Consolidated Statements of Operations   166,359    170,672    165,872    165,468 
Less:  Participating securities                    
Weighted average shares of common stock issuable upon conversion of the Series A Preferred Stock (Note 11)   (14,750)   (14,750)   (14,750)   (14,750)
Weighted average shares of common stock issuable upon conversion of the Series C Preferred Stock (Note 9)   
—
    (7,478)   
—
    (3,760)
Potentially dilutive restricted stock awards   (401)   (629)   (480)   (803)
Weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above   151,208    147,815    150,642    146,155