Earnings per Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic:
Net income (loss)	$	(25,066)	$	(46,459)	$	119,552	$	(49,982)
Less income allocated to participating securities	(452)		—		(4,397)		—
Net income (loss) attributable to common stock	$	(25,518)	$	(46,459)	$	115,155	$	(49,982)
Earnings (loss) per share, basic	$	(1.44)	$	(2.58)	$	6.44	$	(2.78)
Weighted-average shares outstanding	17,721		18,014		17,879		17,985
Diluted:
Net income (loss)	$	(25,066)	$	(46,459)	$	119,552	$	(49,982)
Less income allocated to participating securities	(452)		—		(4,389)		—
Net income (loss) attributable to common stock	$	(25,518)	$	(46,459)	$	115,163	$	(49,982)
Earnings (loss) per share, diluted	$	(1.44)	$	(2.58)	$	6.43	$	(2.78)
Weighted-average shares outstanding	17,721		18,014		17,879		17,985
Dilutive effect of stock options and restricted stock	—		—		238		—
Adjusted weighted-average shares outstanding under treasury stock method	17,721		18,014		18,117		17,985
Participating securities excluded under two-class method	—		—		(204)		—
Adjusted weighted-average shares outstanding under two-class method	17,721		18,014		17,913		17,985