Earnings per Share

12 Months Ended

Dec. 31, 2022

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2022		2021		2020
Net income (loss)	$	4,432	$	(50,403)	$	59,073
Preferred dividends and accretion	(48,054)		(15,715)		—
Net income (loss) to common shareholders	(43,622)		(66,118)		59,073

Basic:
Weighted average common shares outstanding	149,819		129,984		121,467
Earnings (loss) per share	$	(0.29)	$	(0.51)	$	0.49

Diluted:
Weighted average common shares outstanding	149,819		129,984		121,467
Effect of Restricted Stock and Performance Awards	—		—		47
Weighted average dilutive shares	149,819		129,984		121,514
Income (loss) per share	$	(0.29)	$	(0.51)	$	0.49

Potentially dilutive common shares issued pursuant to equity-based awards of 500,006 were not included as their effect was anti-dilutive for the year ended December 31, 2020. Potentially dilutive common shares issuable pursuant to equity-based awards of 2,165,217 and 1,078,096 were not included for the years ended December 31, 2022 and 2021, respectively, as their potential effect was anti-dilutive since the Company generated a net loss to common shareholders. There were no potentially dilutive common shares issuable pursuant to the Convertible Notes for the years ended December 31, 2022 and 2021, as the par value of the Convertible Notes is required to be paid in cash upon conversion and the stock price has not exceeded the conversion price on the Convertible Notes.

There were 26,671,594 Class B Units and 1,000 Class C Units of Former Parent issued to certain employees or directors of the Company which were not included in the calculation of basic or diluted EPS for the year ended December 31, 2020, as the Class B and Class C units do not represent potential units of the Company.