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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share |
Earnings Per Share | Note 12 — Earnings Per Share The computations of the numerator (earnings or loss) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying consolidated statements of operations are as follows (in thousands, except per share amounts): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2024 | ​ | 2023 |  | 2022
​ |  | Income |  | Shares |  | Income |  | Shares |  | Income |  | Shares
Basic: |  | ​ |  |  |  |  | ​ |  |  |  | ​ | ​ |  |  |
Net income (loss) | ​ | $ | 55,637 | ​ | ​ |  | $ | (10,838) |  |  | ​ | $ | (87,784) |  |
Less: Undistributed earnings allocated to participating securities | ​ |  | (53) | ​ | ​ |  | ​ | — |  |  | ​ | ​ | — |  |
Net income (loss) available to common shareholders, basic | ​ | $ | 55,584 | ​ | 151,989 | ​ | $ | (10,838) |  | 150,917 | ​ | $ | (87,784) |  | 151,276
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per share, basic | ​ | $ | 0.37 | ​ | ​ | ​ | $ | (0.07) | ​ | ​ | ​ | $ | (0.58) | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ | ​ | 2024 | ​ | 2023 |  | 2022
​ |  | Income |  | Shares |  | Income |  | Shares |  | Income |  | Shares
Diluted: | ​ |  |  | ​ |  | ​ |  |  |  |  | ​ |  |  |  |
Net income (loss) available to common shareholders, basic | ​ | $ | 55,584 | ​ | 151,989 | ​ | $ | (10,838) |  | 150,917 | ​ | $ | (87,784) |  | 151,276
Effect of dilutive securities: | ​ |  |  | ​ |  | ​ |  |  |  |  | ​ |  |  |  |
Share-based awards other than participating securities | ​ |  | — | ​ | 2,710 | ​ |  | — |  | — | ​ |  | — |  | —
Undistributed earnings reallocated to participating securities | ​ |  | 1 | ​ | — | ​ |  | — |  | — | ​ |  | — |  | —
Net income (loss) available to common shareholders, diluted | ​ | $ | 55,585 | ​ | 154,699 | ​ | $ | (10,838) |  | 150,917 | ​ | $ | (87,784) |  | 151,276
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per share, diluted | ​ | $ | 0.36 | ​ | ​ | ​ | $ | (0.07) | ​ | ​ | ​ | $ | (0.58) | ​ | ​
​ We had net losses for the years ended December 31, 2023 and 2022. Accordingly, our diluted EPS calculation for these periods excluded the dilutive effect of share-based awards because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable periods. Shares that otherwise would have been included in the diluted per share calculations assuming we had earnings are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2022
Diluted shares (as reported) |  | 150,917 | ​ | 151,276
Share-based awards |  | 3,154 | ​ | 2,158
Total |  | 154,071 | ​ | 153,434
​ The following potentially dilutive shares related to the 2022 Notes, the 2023 Notes and the 2026 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
2022 Notes |  | — | ​ | — | ​ | 600
2023 Notes |  | — | ​ | 2,247 | ​ | 3,168
2026 Notes |  | 1,297 | ​ | 28,139 | ​ | 28,676
​ We have outstanding RSUs (Note 13) that can be settled in either cash or shares of our common stock or a combination thereof, which are not included in the computation of diluted EPS as cash settlement is assumed.

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