Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings per Share

Basic (loss) earnings per share is based upon the weighted average common shares outstanding during each year. Diluted (loss) earnings per share is based on the basic weighted (loss) earnings per share with additional weighted common shares for common stock equivalents. During the three and nine months ended September 30, 2023 and September 30, 2022, we had outstanding restricted shares of common stock to certain of our employees and directors, under the Company's restricted stock award plans. A reconciliation of the numerator (net (loss) income) and denominator (weighted average number of shares outstanding of the basic and diluted (loss) earnings per share) for the three and nine months ended September 30, 2023 and September 30, 2022 is as follows (in thousands, except per share data):


	Three months ended September 30, 2023
	Net Loss (numerator)		Shares (denominator)	Per Share Amount
Basic loss per share	$	(10,703)	79,021	$	(0.14)
Effect of restricted stock	—		82
Diluted loss per share	$	(10,703)	79,103	$	(0.14)


	Three months ended September 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic earnings per share	$	24,415	78,937	$	0.31
Effect of restricted stock	—		37
Diluted earnings per share	$	24,415	78,974	$	0.31


	Nine months ended September 30, 2023
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic earnings per share	$	9,680	79,003	$	0.12
Effect of restricted stock	—		66
Diluted earnings per share	$	9,680	79,069	$	0.12


	Nine months ended September 30, 2022
	Net Income (numerator)		Shares (denominator)	Per Share Amount
Basic earnings per share	$	118,095	78,933	$	1.50
Effect of restricted stock	—		29
Diluted earnings per share	$	118,095	78,962	$	1.50