EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share

Reconciliations of the components of basic and diluted net (loss) income per common share are presented in the table below (in thousands):

	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
Net (loss) income	$	(261,386)	$	1,470,916	$	494,701
Dividends on preferred stock	(4,230)		(4,840)		(5,444)
Participating securities - preferred stock(1)	—		(212,360)		(76,401)
Net (loss) income attributable to common stockholders	$	(265,616)	$	1,253,716	$	412,856
Re-allocation of participating securities	—		2,475		512
Diluted net (loss) income attributable to common stockholders	$	(265,616)	$	1,256,191	$	413,368
Basic Shares	18,050		18,645		20,185
Dilutive Shares	18,050		18,902		20,347
Basic EPS	$	(14.72)	$	67.24	$	20.45
Dilutive EPS	$	(14.72)	$	66.46	$	20.32

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(1)    Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses.