XML 31 R19.htm IDEA: XBRL DOCUMENT v3.25.3
EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share (“EPS”) is computed based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from the impact of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stock, and conversion of preferred stock. In loss periods, the impact of common shares issuable upon the exercises of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stock, and conversion of preferred stock are excluded from the calculation of diluted loss per share, as the inclusion of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units, non-vested restricted stocks, and conversion of preferred stock would have an anti-dilutive effect.
The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted earnings (loss) per share computations for the periods presented (in thousands, except per share data):
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2025202420252024
Numerator for EPS:
Net income (loss)$39,830 $(16,163)$116,362 $52,910 
Less: Preferred stock dividends(3)(3)(8)(8)
Income (loss) available to common stockholders$39,827 $(16,166)$116,354 $52,902 
Denominator for EPS:  
Weighted average common shares outstanding27,851 28,355 27,971 28,607 
Plus: Assumed conversion of share-based compensation (1)932 — 907 685 
     Assumed conversion of preferred stock25 — 25 25 
Weighted average diluted common shares outstanding28,808 28,355 28,903 29,317 
Basic earnings (loss) per common share$1.43 $(0.57)$4.16 $1.85 
Diluted earnings (loss) per common share$1.38 $(0.57)$4.03 $1.80 
(1)
Represents the dilutive effect of common shares issuable upon the exercise of stock options, non-vested performance share units, non-vested restricted stock units and non-vested restricted stock.