Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted Earnings Per Common Share

The following is a reconciliation of basic and diluted earnings (loss) per common share (in thousands, except share and per-share data):

	For the three months ended June 30,				For the six months ended June 30,
	2023		2022		2023		2022
Numerator:
Net income (loss) attributable to common shareholders	$	33,738	$	16,646	$	(178)	$	(94,228)
Less: Dividends paid on unvested share-based compensation	(10)		(12)		(21)		(22)
Less: Undistributed earnings attributable to share-based compensation	(276)		(133)		—		—
Net income (loss) available to common shareholders — basic	$	33,452	$	16,501	$	(199)	$	(94,250)
Plus: Interest expense on convertible notes	3,281		3,281		—		—
Net income (loss) available to common shareholders — diluted	$	36,733	$	19,782	$	(199)	$	(94,250)
Denominator:
Weighted-average number of common shares — basic	121,696,400		130,904,876		123,581,926		130,904,589
Effect of dilutive share-based compensation	101,380		374,188		—		—
Effect of dilutive convertible notes	29,441,175		29,441,175		—		—
Weighted-average number of common shares — diluted	151,238,955		160,720,239		123,581,926		130,904,589
Net income (loss) per share available to common shareholders — basic	$	0.27	$	0.13	$	—	$	(0.72)
Net income (loss) per share available to common shareholders — diluted	$	0.24	$	0.12	$	—	$	(0.72)