Earnings (Losses) Per Share (Tables)

3 Months Ended

Mar. 31, 2026

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
	March 31,
	2026		2025
	(In thousands, except per share amounts)
BASIC EPS:
Net income (loss) (numerator):
Income (loss), net of tax	$	4,262	$	57,179
Less: net (income) loss attributable to noncontrolling interest		(19,428)		(24,191)
Less: accrued distribution on redeemable noncontrolling interest in subsidiary		(6,683)		(7,184)
Less: distributed and undistributed earnings allocated to unvested shareholders		—		(1,177)
Numerator for basic earnings per share:
Adjusted income (loss), net of tax - basic	$	(21,849)	$	24,627
Weighted-average number of shares outstanding - basic		14,213		10,460
Earnings (losses) per share:
Total Basic	$	(1.54)	$	2.35
DILUTED EPS:
Adjusted income (loss), net of tax - basic	$	(21,849)	$	24,627
Add: after tax interest expense of convertible notes		—		848
Add: effect of reallocating undistributed earnings of unvested shareholders		—		4
Adjusted income (loss), net of tax - diluted	$	(21,849)	$	25,479
Weighted-average number of shares outstanding - basic		14,213		10,460
Add: if converted dilutive effect of convertible notes		—		1,176
Add: dilutive effect of potential common shares		—		35
Weighted-average number of shares outstanding - diluted		14,213		11,671
Earnings (losses) per share:
Total Diluted	$	(1.54)	$	2.18

Schedule of anti-dilutive securities

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
	March 31,
	2026		2025
Potentially dilutive securities excluded as anti-dilutive		3,369		3,463