Earnings per Share (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic:
Net income (loss)	$	88,469	$	4,358	$	144,618	$	(3,523)
Less income allocated to participating securities	(3,660)		(39)		(4,663)		—
Net income (loss) attributable to common stock	$	84,809	$	4,319	$	139,955	$	(3,523)
Earnings (loss) per share, basic	$	4.80	$	0.24	$	7.85	$	(0.20)
Weighted-average shares outstanding	17,677		17,987		17,840		17,970
Diluted:
Net income (loss)	$	88,469	$	4,358	$	144,618	$	(3,523)
Less income allocated to participating securities	(3,659)		(39)		(4,657)		—
Net income (loss) attributable to common stock	$	84,810	$	4,319	$	139,961	$	(3,523)
Earnings (loss) per share, diluted	$	4.80	$	0.24	$	7.84	$	(0.20)
Weighted-average shares outstanding	17,677		17,987		17,840		17,970
Dilutive effect of stock options and restricted stock	211		31		168		—
Adjusted weighted-average shares outstanding under treasury stock method	17,888		18,018		18,008		17,970
Participating securities excluded under two-class method	(205)		(12)		(147)		—
Adjusted weighted-average shares outstanding under two-class method	17,683		18,006		17,861		17,970