Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2022

Net Income (Loss) Per Share

The computation of the Company's basic and diluted net income (loss) per share is as follows:


	Year Ended December 31,
	2022		2021		2020
	(in thousands, except per share data)
Numerator for basic and diluted income (loss) per common share
Net income (loss)	$	81,111	$	97,864	$	(103,994)
Less: Net income allocated to unvested participating restricted stock	(2,174)		(2,295)		(420)
Net income (loss) available to common stockholders - basic	78,937		95,569		(104,414)
Effect of unvested participating restricted stock	1		13		—
Numerator - income (loss) available to common shareholders - diluted	$	78,938	$	95,582	$	(104,414)
Denominator
Weighted average outstanding shares of common stock - basic	15,873		16,799		16,230
Effect of dilutive securities:
Stock options	28		91		—
Weighted average outstanding shares of common stock - diluted	15,901		16,890		16,230
Net income (loss) per common share
Basic	$	4.97	$	5.69	$	(6.43)
Diluted	$	4.96	$	5.66	$	(6.43)

For the year ended December 31, 2020, diluted loss per common share was computed using the basic weighted average number of shares outstanding during the period as the 100,056 shares from common stock equivalents would have been antidilutive.