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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three- and six-month periods ended June 30, 2024 and 2023 (in thousands, except per share amounts):

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

Basic

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income

 

$

839

 

 

$

89,849

 

 

$

31,329

 

 

$

110,298

 

Weighted average shares outstanding

 

 

128,295

 

 

 

129,814

 

 

 

128,792

 

 

 

129,467

 

Earnings per share - basic

 

 

0.01

 

 

 

0.69

 

 

 

0.24

 

 

 

0.85

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

Diluted

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income

 

$

839

 

 

$

89,849

 

 

$

31,329

 

 

$

110,298

 

Average shares

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

128,295

 

 

 

129,814

 

 

 

128,792

 

 

 

129,467

 

Effect of dilutive securities - stock-based compensation

 

 

3,436

 

 

 

3,414

 

 

 

3,302

 

 

 

3,940

 

Total weighted average diluted shares outstanding

 

 

131,731

 

 

 

133,228

 

 

 

132,094

 

 

 

133,407

 

Earnings per share - diluted

 

$

0.01

 

 

$

0.67

 

 

$

0.24

 

 

$

0.83