COMMON STOCK AND EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of computation of earnings per share

The following is a reconciliation of basic and diluted earnings per common share for each of the periods presented (in thousands, except share and per share data):


	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Basic and Diluted Earnings:
Net Income Attributable to Common Stockholders, Used in Basic EPS	$	3,622	$	22,818	$	2,651	$	26,879
Add Back: Effect of Dilutive Interest Related to 2025 Notes ⁽¹⁾		539		—		—		—
Net Income Attributable to Common Stockholders, Used in Diluted EPS		4,161		22,818		2,651		26,879

Basic and Diluted Shares:
Weighted Average Shares Outstanding, Basic		18,386,435		17,703,284		18,044,299		17,678,701
Common Shares Applicable to Dilutive Effect of 2025 Notes ⁽²⁾		3,119,025		—		—		—
Weighted Average Shares Outstanding, Diluted		21,505,460		17,703,284		18,044,299		17,678,701

Per Share Information:
Net Income Attributable to Common Stockholders
Basic	$	0.20	$	1.29	$	0.15	$	1.52
Diluted	$	0.19	$	1.29	$	0.15	$	1.52

⁽¹⁾

As applicable, includes interest expense, amortization of discount, amortization of fees, and other changes in net income or loss that would result from the assumed conversion of the 2025 Notes (hereinafter defined). For the three months ended September 30 2022, a total of $0.5 million was included as the impact to earnings per share, if-converted, is dilutive. For the nine months ended September 30, 2022, the impact of $1.6 million was not included as the impact to earnings per share, if-converted, would be antidilutive to the net income of $2.6 million.

⁽²⁾

A total of 3.1 million shares representing the dilutive impact of the 2025 Notes, upon adoption of ASU 2020-06 effective January 1, 2022, were included in the computation of diluted net income per share attributable to common stockholders for the three months ended September 30, 2022. A total of 3.1 million shares representing the dilutive impact of the 2025 Notes, were not included in the computation of diluted net income per share attributable to common stockholders for the nine months ended September 30, 2022 because they were antidilutive to the net income of $2.6 million.