Earnings Per Share

3 Months Ended

Mar. 31, 2025

Note 12 - Earnings Per Share

Basic net income (loss) per common share for each period is calculated by dividing net income (loss) by the basic weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is calculated by dividing net income (loss) of the Company by the diluted weighted average number of common shares outstanding for the respective period. Diluted weighted average number of common shares outstanding and the dilutive effect of potential common shares is calculated using the treasury method. The Company includes potential shares of common stock for PRSUs and TRSUs in the calculation of diluted weighted average shares outstanding based on the number of common shares that would be issuable if the end of the reporting period was also the end of the performance period. During periods in which the Company incurred a net loss, diluted weighted average common shares outstanding were equal to basic weighted average of common shares outstanding because the effects of all potential common shares was anti-dilutive.

The following is a reconciliation of the Company's basic weighted average number of common shares outstanding to the diluted weighted average number of common shares outstanding:


	Three Months Ended March 31,
(in thousands)	2025	2024
Basic weighted average common shares outstanding	84,706	66,287
Add: dilutive effect of TRSUs	—	—
Add: dilutive effect of PRSUs	—	—
Diluted weighted average of common shares outstanding	84,706	66,287
Weighted average number of outstanding securities excluded from the calculation of diluted loss per share
TRSUs	22	281
PRSUs	—	3,899