Earnings Per Share

6 Months Ended

Jun. 30, 2024

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	25,698	$	65,165	$	27,863	$	94,800
Less: preferred dividends and accretion	13,749		12,784		27,251		25,268
Net income to common shareholders	$	11,949	$	52,381	$	612	$	69,532
Basic:
Weighted average shares	151,797		150,919		151,574		150,763
(Loss) income per share	$	0.08	$	0.34	$	—	$	0.47
Diluted:
Effect of restricted stock and performance awards	410		1,210		596		1,207
Weighted average shares	152,207		152,129		152,170		151,970
Income per share	$	0.08	$	0.34	$	—	$	0.46

Potentially dilutive common shares issuable pursuant to equity-based awards of 479,623 and 473,074 were not included for the three and six months ended June 30, 2024, respectively, as their potential impact was anti-dilutive. Common shares issuable pursuant to equity-based awards of 52,609 and 57,263 were excluded from the Company’s diluted EPS calculation for the three and six months ended June 30, 2023, respectively, as their potential impact was anti-dilutive.

There were no potentially dilutive common shares issuable pursuant to the Convertible Notes for both the six months ended June 30, 2024 and 2023, as the average market price of the Company’s common stock has not exceeded the exercise price since their issuance.