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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
Basic earnings (loss) per share (“basic EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share for the three and nine months ended September 30, 2023 and the three months ended September 30, 2022 (“diluted EPS”) gives effect to all dilutive potential shares. As the Company was in a net loss position for the nine months ended September 30, 2022, there were no dilutive potential shares included in the computation of diluted shares outstanding.

The following tables set forth the computation of basic and diluted earnings (loss) per share, as applicable, for the three and nine months ended September 30, 2023 and 2022:

Three Months Ended September 30, 2023Three Months Ended September 30, 2022
 Basic EPSAdjustmentsDiluted EPSBasic EPSAdjustmentsDiluted EPS
Net income
$15,837 $— $15,837 $46,150 $— $46,150 
Weighted average shares outstanding30,741 — 30,741 30,473 — 30,473 
Stock compensation— 770 770 — 585 585 
Convertible notes— 178 178 — 45 45 
30,741 948 31,689 30,473 630 31,103 
EPS$0.52 $0.50 $1.51 $1.48 
 
Nine Months Ended September 30, 2023Nine Months Ended September 30, 2022
 Basic EPSAdjustmentsDiluted EPSBasic EPSAdjustmentsDiluted EPS
Net income (loss)
$31,388 — $31,388 $(107,166)— $(107,166)
Weighted average shares outstanding30,638 — 30,638 29,892 — 29,892 
Stock compensation— 758 758 — — — 
Warrants— 15 15 — — — 
Convertible notes— 152 152 — — — 
30,638 925 31,563 29,892 — 29,892 
EPS$1.02 $0.99 $(3.59)$(3.59)

The shares used in the calculation of diluted EPS exclude stock options and stock appreciation rights to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 1.7 million and 1.8 million for the three and nine months ended September 30, 2023, respectively, and 2.0 million for the three months ended September 30, 2022. As the Company was in a net loss position for the nine months ended September 30, 2022, there were no anti-dilutive shares.