Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings (loss) per share are as follows (in thousands, except share and per share data):


	Three months ended June 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net income (loss) per common share:
Net income (loss)	$	16,679	$	16,679	$	(46,436)	$	(46,436)
Less: Net income available to participating securities (1)	(2)		(2)		—		—
Plus: 1.75% Convertible Notes interest expense (after-tax)	—		—		—		—
Net (loss) income available to the Company’s common shareholders	$	16,677	$	16,677	$	(46,436)	$	(46,436)
Denominator:
Basic weighted-average outstanding shares of common stock	46,798,800		46,798,800		46,978,709		46,978,709
Diluted effect of:
Equity incentive plans	—		—		—		—
Convertible debt	—		—		—		—
Diluted weighted-average outstanding shares of common stock	46,798,800		46,798,800		46,978,709		46,978,709

Net income (loss) per share	$	0.36	$	0.36	$	(0.99)	$	(0.99)

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).


	Six months ended June 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net income (loss) per common share:
Net income (loss)	$	9,052	$	9,052	$	(21,899)	$	(21,899)
Less: Net income available to participating securities (1)	(2)		(2)		—		—
Plus: 1.75% Convertible Notes interest expense (after-tax)	—		—		—		—
Net income (loss) available to the Company’s common shareholders	$	9,050	$	9,050	$	(21,899)	$	(21,899)
Denominator:
Basic weighted-average outstanding shares of common stock	46,892,504		46,892,504		47,016,351		47,016,351
Diluted effect of:
Equity incentive plans	—		—		—		—
Convertible debt	—		—		—		—
Diluted weighted-average outstanding shares of common stock	46,892,504		46,892,504		47,016,351		47,016,351

Net income (loss) per share	$	0.19	$	0.19	$	(0.47)	$	(0.47)

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).