XML 42 R31.htm IDEA: XBRL DOCUMENT v3.25.3
Earnings (Losses) Per Share (Tables)
9 Months Ended
Sep. 30, 2025
Earnings (Losses) Per Share  
Reconciliation of the numerators and denominators of the basic and diluted earnings (losses) per share computations

A reconciliation of the numerators and denominators of the basic and diluted earnings (losses) per share computations is as follows:

Three Months Ended

Nine Months Ended

    

September 30,

September 30,

    

2025

    

2024

    

2025

    

2024

(In thousands, except per share amounts)

BASIC EPS:

Net income (loss) (numerator):

Income (loss), net of tax

$

302,466

$

(33,087)

$

357,440

$

(55,118)

Less: net (income) loss attributable to noncontrolling interest

 

(28,268)

 

(22,738)

 

(81,164)

 

(67,295)

Less: deemed dividends to SPAC public shareholders

 

(750)

 

 

(750)

 

Less: accrued distribution on redeemable noncontrolling interest in subsidiary

(7,344)

(7,363)

(21,792)

(21,929)

Less: distributed and undistributed earnings allocated to unvested shareholders

(8,828)

(9,106)

Numerator for basic earnings per share:

Adjusted income (loss), net of tax - basic

$

257,276

$

(63,188)

$

244,628

$

(144,342)

Weighted-average number of shares outstanding - basic

 

14,098

 

9,213

 

12,880

 

9,199

Earnings (losses) per share:

Total Basic

$

18.25

$

(6.86)

$

18.99

$

(15.69)

DILUTED EPS:

Adjusted income (loss), net of tax - basic

$

257,276

$

(63,188)

$

244,628

$

(144,342)

Add: after tax interest expense of convertible notes

848

2,544

Add: effect of reallocating undistributed earnings of unvested shareholders

28

24

Adjusted income (loss), net of tax - diluted

$

258,152

$

(63,188)

$

247,196

$

(144,342)

Weighted-average number of shares outstanding - basic

 

14,098

 

9,213

 

12,880

 

9,199

Add: if converted dilutive effect of convertible notes

1,176

1,176

Add: dilutive effect of potential common shares

47

36

Weighted-average number of shares outstanding - diluted

15,321

9,213

14,092

9,199

Earnings (losses) per share:

Total Diluted

$

16.85

$

(6.86)

$

17.54

$

(15.69)

Potentially dilutive securities excluded as anti-dilutive

The average number of shares from options and shares related to outstanding Warrants that were excluded from diluted earnings (losses) per share that would potentially dilute earnings per share in the future were as follows (in thousands):

Three Months Ended

Nine Months Ended

September 30,

September 30,

2025

    

2024

    

2025

    

2024

Potentially dilutive securities excluded as anti-dilutive

3,477

3,383

3,500

3,390