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EARNINGS PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Schedule of components of calculation of earnings per share | The components of the numerator for the calculation of basic and diluted EPS are as follows:
| Six months ended |  |
(in thousands of $) | June 30, 2024 |  | June 30, 2023 |  |
Basic and diluted earnings per share: |  |  |  |  |
Net income available to stockholders | 65,934 |  |  | 23,264 |  |  |
The components of the denominator for the calculation of basic and diluted EPS are as follows:
| Six months ended |  |
(in thousands) | June 30, 2024 |  | June 30, 2023 |  |
Basic earnings per share: |  |  |  |  |
Weighted average number of common shares outstanding* | 125,844 |  |  | 126,774 |  |  |
Diluted earnings per share: |  |  |  |  |
Weighted average number of common shares outstanding* | 125,844 |  |  | 126,774 |  |  |
Effect of dilutive share options | 637 |  |  | 242 |  |  |
Weighted average number of common shares outstanding assuming dilution | 126,481 |  |  | 127,016 |  |  |
| Six months ended |  |
| June 30, 2024 |  | June 30, 2023 |  |
Basic earnings per share: | $ | 0.52 |  |  | $ | 0.18 |  |  |
Diluted earnings per share: | $ | 0.52 |  |  | $ | 0.18 |  |  |
*The weighted average number of common shares outstanding excludes 8,000,000 shares issued as part of a share lending arrangement relating to the Company’s issuance of 5.75% senior unsecured convertible notes in October 2016 and 3,765,842 shares issued as a part of a share lending arrangement relating to the Company’s issuance of 4.875% senior unsecured convertible notes in April and May 2018. The Company entered into a general share lending agreement with another counterparty and after the maturity of the bonds, 8,000,000 shares and 3,765,142 shares, respectively, from each issuance under the two initial share lending arrangements described above were transferred into such counterparty’s custody. The remaining 700 shares were held with the Company’s transfer agent before being cancelled in the six months ended June 30, 2024. The weighted average number of common shares outstanding also excludes 1,095,095 shares repurchased by the Company under its Share Repurchase Program and held as treasury stock as of June 30, 2024.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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