XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.23.1

Earnings Per Share | 3 Months Ended
--- | ---
Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The Company uses the two-class method of calculating earnings per share because certain of the Company’s unvested stock-based awards qualify as participating securities. The Company’s basic earnings (loss) per share attributable to common stockholders is computed as (i) net income (loss) as reported, (ii) less participating basic earnings (iii) divided by weighted average basic common shares outstanding. The Company’s diluted earnings (loss) per share attributable to common stockholders is computed as (i) basic earnings (loss) attributable to common stockholders, (ii) plus reallocation of participating earnings (iii) divided by weighted average diluted common shares outstanding. The following table presents the basic and diluted earnings per share computations for the three months ended March 31, 2023 and 2022:
| Three Months Ended March 31,
(in thousands) | 2023 |  | 2022 |  |
Net income | $ | 36,866 |  |  | $ | 32,444 |  |  |
Participating basic earnings (a) | (22) |  |  | — |  |  |
Basic earnings (loss) attributable to common stockholders | 36,844 |  |  | 32,444 |  |  |
Reallocation of participating earnings | — |  |  | — |  |  |
Diluted earnings (loss) attributable to common stockholders | $ | 36,844 |  |  | $ | 32,444 |  |  |
Weighted average common shares outstanding: |  |  |  |  |
Weighted average common shares outstanding – basic | 133,002 |  |  | 132,923 |  |  |
Dilutive performance stock units | — |  |  | — |  |  |
Dilutive stock options | — |  |  | — |  |  |
Weighted average common shares outstanding – diluted | 133,002 |  |  | 132,923 |  |  |
Net income (loss) per common share: |  |  |  |  |
Basic | $ | 0.28 |  |  | $ | 0.24 |  |  |
Diluted | $ | 0.28 |  |  | $ | 0.24 |  |  |
(a) Unvested restricted stock awards represent participating securities because they participate in nonforfeitable dividends or distributions with the common equity holders of the Company. Participating earnings represent the distributed and undistributed earnings of the Company attributable to the participating securities. Unvested restricted stock awards do not participate in undistributed net losses as they are not contractually obligated to do so. |  |
The following table is a summary of the PSUs, stock options, and warrants, which were not included in the computation of diluted earnings per share, as inclusion of these items would be antidilutive.
| Three Months Ended March 31,
| 2023 |  | 2022 |  |
Number of antidilutive common shares: |  |  |  |  |
Antidilutive warrants | 10,349,975 |  |  | — |  |  |
Antidilutive performance stock units | 4,796 |  |  | — |  |  |
Antidilutive stock options | 47,924 |  |  | — |  |  |
Total antidilutive common shares | 10,402,695 |  |  | — |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration