Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share

Schedule of computations of basic and diluted EPS

The computations of the numerator (earnings or loss) and denominator (shares) to derive the basic and diluted earnings per share (“EPS”) amounts presented on the face of the accompanying condensed consolidated statements of operations are as follows (in thousands, except per share amounts):

	Three Months Ended			Three Months Ended
	March 31, 2025			March 31, 2024
	Income		Shares	Income		Shares
Basic:
Net income (loss)	$	3,072		$	(26,287)
Less: Undistributed earnings allocated to participating securities		(2)			—
Net income (loss) available to common shareholders, basic	$	3,070	151,039	$	(26,287)	152,369
Earnings (loss) per share, basic	$	0.02		$	(0.17)
Diluted:
Net income (loss) available to common shareholders, basic	$	3,070	151,039	$	(26,287)	152,369
Effect of dilutive securities:
Share-based awards other than participating securities		—	1,135		—	—
Undistributed earnings reallocated to participating securities		—	—		—	—
Net income (loss) available to common shareholders, diluted	$	3,070	152,174	$	(26,287)	152,369
Earnings (loss) per share, diluted	$	0.02		$	(0.17)

Schedule of shares excluded from diluted EPS calculation

Shares that otherwise would have been included in the diluted per share calculations assuming we had earnings are as follows (in thousands):

	Three Months Ended
	March 31,
	2024
Diluted shares (as reported)	152,369
Share-based awards	2,705
Total	155,074

The following potentially dilutive shares related to the 2026 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands):

	Three Months Ended
	March 31,
	2025	2024
2026 Notes	—	5,187