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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2025			2024			2025			2024
Numerators – Basic and Diluted
Continuing Operations:
Net (loss) income	$	(6,158	)	$	334,739		$	43,431		$	531,586
Preferred dividends		—			(2,789	)		—			(8,367	)
Earnings attributable to unvested shares		(836	)		(1,171	)		(1,223	)		(2,005	)
Net (loss) income attributable to common shareholders after allocation to participating securities		(6,994	)		330,779			42,208			521,214
Discontinued Operations:
Income (loss) from discontinued operations		—			(11,786	)		—			6,060
Total	$	(6,994	)	$	318,993		$	42,208		$	527,274
Denominators – Number of Shares
Basic—Average shares outstanding		52,445			52,400			52,442			52,381
Assumed conversion of dilutive securities—PRSUs		—			153			—			177
Diluted—Average shares outstanding		52,445			52,553			52,442			52,558
Earnings Per Share:
Basic
From continuing operations	$	(0.13	)	$	6.31		$	0.80		$	9.95
From discontinued operations		—			(0.22	)		—			0.12
Total	$	(0.13	)	$	6.09		$	0.80		$	10.07
Diluted
From continuing operations	$	(0.13	)	$	6.29		$	0.80		$	9.91
From discontinued operations		—			(0.22	)		—			0.12
Total	$	(0.13	)	$	6.07		$	0.80		$	10.03