Earnings Per Share

3 Months Ended

Mar. 31, 2023

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


	Three Months Ended March 31,
		2023		2022
Net income (loss)		$	26,132	$	(25,937)
Preferred dividends and accretion		12,484		11,606
Net income (loss) to common shareholders		$	13,648	$	(37,543)
Basic:
Weighted average shares		150,607		148,288
Income (loss) per share		$	0.09	$	(0.25)
Diluted:
Effect of restricted stock and performance awards		1,188		—
Weighted average shares		151,795		148,288
Income (loss) per share		$	0.09	$	(0.25)

Potentially dilutive common shares issuable pursuant to equity-based awards of 654,277 were not included for the three months ended March 31, 2022, 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 three months ended March 31, 2023 and 2022, 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.