Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three- and six-month periods ended June 30, 2023 and 2022:


	Three Months Ended June 30,
(In Thousands, Except Share Data)	2023				2022
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(56,382)	$	(56,382)	$	(10,457)	$	(10,457)
Weighted-average common shares outstanding	25,249,073		25,249,073		25,148,143		25,148,143
Add dilutive effect of restricted stock unit awards	—		—		—		—
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,249,073		25,249,073		25,148,143		25,148,143
Earnings (loss) per common share	$	(2.23)	$	(2.23)	$	(0.42)	$	(0.42)
Awards excluded from diluted earnings per share calculation(1)	—		826,259		—		392,062

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.


	Six Months Ended June 30,
(In Thousands, Except Share Data)	2023				2022
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(55,688)	$	(55,688)	$	17,892	$	17,892
Weighted-average common shares outstanding	25,234,834		25,234,834		25,124,644		25,124,644
Add dilutive effect of restricted stock unit awards	—		—		—		245,944
Add dilutive effect of stock options	—		—		—		40,061
Weighted-average common shares outstanding	25,234,834		25,234,834		25,124,644		25,410,649
Earnings (loss) per common share	$	(2.21)	$	(2.21)	$	0.71	$	0.70
Awards excluded from diluted earnings per share calculation(1)	—		822,692		—		733,940

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.