Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2023

Computation of Net Income Per Share, Basic and Diluted

The following table sets forth the computation of net income (loss) per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands):


	Three Months Ended March 31,
	2023		2022
Basic:
Net income (loss)	$	56,149	$	(7,881)
Less income allocated to participating securities	(1,254)		—
Net income (loss) attributable to common stock	$	54,895	$	(7,881)
Earnings (loss) per share, basic	$	3.09	$	(0.44)
Weighted-average shares outstanding	17,766		17,954
Diluted:
Net income (loss)	$	56,149	$	(7,881)
Less income allocated to participating securities	(1,254)		—
Net income (loss) attributable to common stock	$	54,895	$	(7,881)
Earnings (loss) per share, diluted	$	3.09	$	(0.44)
Weighted-average shares outstanding	17,766		17,954
Dilutive effect of stock options and restricted stock	104		—
Adjusted weighted-average shares outstanding under treasury stock method	17,870		17,954
Participating securities excluded under two-class method	(101)		—
Adjusted weighted-average shares outstanding under two-class method	17,769		17,954