Loss per Common Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Loss per Common Share

Loss per Common Share

Basic loss per share and Diluted loss per share are calculated by dividing the Net loss attributable to common stockholders by the basic and diluted weighted-average common stock outstanding in the period, respectively, using the allocation method prescribed by the two-class method. The Company applies this method to compute earnings per share because it distributes non-forfeitable dividend equivalents on restricted stock units and Operating Partnership units granted to certain associates and non-employee directors who have the right to participate in the distribution of common dividends while the restricted stock units and Operating Partnership units are unvested.

A reconciliation of the basic and diluted weighted-average common stock outstanding for the years ended December 31, 2024, 2023 and 2022 is as follows:

	Years Ended December 31,
	2024	2023	2022
	(In thousands)
Weighted-average common stock outstanding – basic	284,782	275,773	269,565
Weighted average common stock outstanding – diluted	284,782	275,773	269,565

For the years ended December 31, 2024, 2023 and 2022, potential common stock under the treasury stock method and the if-converted method were antidilutive because the Company reported a net loss for such periods. Consequently, the Company did not have any adjustments between basic and diluted loss per share related to stock-based awards for those periods.

The table below presents the number of antidilutive potential common shares that are not considered in the calculation of diluted loss per share:

	Years Ended December 31,
	2024	2023	2022
	(In thousands)
Employee stock options	54	83	163
Restricted stock units	488	406	1,549
Operating Partnership units	238	254	769
Total	780	743	2,481