Loss per Common Share

9 Months Ended

Sep. 30, 2025

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/loss per common 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 three and nine months ended September 30, 2025 and 2024 is as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
	(In thousands)
Weighted average common stock outstanding – basic	285,898	284,861	285,622	284,729
Dilutive effect of stock-based awards	—	—	—	—
Weighted average common stock outstanding – diluted	285,898	284,861	285,622	284,729

For the three and nine months ended September 30, 2025 and 2024, potential common stock under the treasury stock method and the if-converted method were antidilutive because the Company reported 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 respective periods.

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

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024(1)	2025	2024(1)
	(In thousands)
Employee stock options	22	57	30	59
Restricted stock units	880	383	838	466
OP units	301	329	329	274
Total	1,203	769	1,197	799

(1) Certain prior period amounts have been reclassified to conform to the current period presentation.