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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2025
Earnings Per Share  
Schedule of computations of basic and diluted EPS

The computations of the numerator (earnings) and denominator (shares) to derive the basic and diluted earnings per share (“EPS”) amounts presented on the face of the accompanying condensed consolidated statements of operations are as follows (in thousands, except per share amounts):

Three Months Ended

Three Months Ended

September 30, 2025

September 30, 2024

    

Income

    

Shares

    

Income

    

Shares

Basic:

 

  

 

  

 

  

 

  

Net income

$

22,083

 

$

29,514

 

  

Less: Undistributed earnings allocated to participating securities

 

(15)

 

(29)

 

  

Net income available to common shareholders, basic

$

22,068

146,907

$

29,485

 

151,914

Earnings per share, basic

$

0.15

$

0.19

Diluted:

 

  

  

 

  

 

  

Net income available to common shareholders, basic

$

22,068

146,907

$

29,485

 

151,914

Effect of dilutive securities:

 

  

  

 

  

 

  

Share-based awards other than participating securities

 

791

 

 

2,937

Undistributed earnings reallocated to participating securities

 

 

1

 

Net income available to common shareholders, diluted

$

22,068

147,698

$

29,486

154,851

Earnings per share, diluted

$

0.15

$

0.19

 

Nine Months Ended

Nine Months Ended

September 30, 2025

September 30, 2024

    

Income

    

Shares

    

Income

    

Shares

Basic:

 

  

 

  

 

  

 

  

Net income

$

22,557

 

$

35,516

 

  

Less: Undistributed earnings allocated to participating securities

 

(16)

 

(36)

 

  

Net income available to common shareholders, basic

$

22,541

148,805

$

35,480

 

152,171

Earnings per share, basic

$

0.15

$

0.23

Diluted:

 

  

  

 

  

 

  

Net income available to common shareholders, basic

$

22,541

148,805

$

35,480

 

152,171

Effect of dilutive securities:

 

  

  

 

  

 

  

Share-based awards other than participating securities

 

745

 

 

2,867

Undistributed earnings reallocated to participating securities

 

 

1

 

Net income available to common shareholders, diluted

$

22,541

149,550

$

35,481

 

155,038

Earnings per share, diluted

$

0.15

$

0.23

Schedule of shares excluded from diluted EPS calculation

The following potentially dilutive shares related to the 2026 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands):

Nine Months Ended

September 30, 

    

2025

    

2024

2026 Notes

 

 

1,729