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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted 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

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 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

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- References

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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
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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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
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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