The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:


	Three Months Ended September 30,						Nine Months Ended September 30,
Basic Earnings per Share	2022			2021			2022			2021
Net income	$	81,229		$	5,833		$	78,973		$	38,610
Less: Income distributed to participating securities		(546	)		(538	)		(1,644	)		(1,634	)
Less: Undistributed income allocable to participating securities		(8,583	)		(115	)		(7,268	)		(2,666	)

Net income available to common stockholders—Basic EPS	$	72,100		$	5,180		$	70,061		$	34,310

Weighted average common shares (in thousands)		143,120			142,070			142,984			144,445

Basic earnings per share	$	0.50		$	0.04		$	0.49		$	0.24


	Three Months Ended September 30,						Nine Months Ended September 30,
Diluted Earnings per Share	2022			2021			2022			2021
Net income available to common stockholders	$	72,100		$	5,180		$	70,061		$	34,310
Add back: Undistributed income allocable to participating securities		8,583			115			7,268			2,666
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive		(8,568	)		(115	)		(7,257	)		(2,647	)

Net income available to common stockholders—Diluted EPS	$	72,115		$	5,180		$	70,072		$	34,329

Weighted Average Diluted Shares (in thousands):
Weighted average common shares		143,120			142,070			142,984			144,445
Dilutive effect of common stock equivalents, excluding participating securities		287			1,072			261			1,159

Weighted average diluted shares, excluding participating securities (in thousands)		143,407			143,142			143,245			145,604

Diluted earnings per share	$	0.50		$	0.04		$	0.49		$	0.24

Diluted earnings per share presented above is calculated using the

two-class

method as this method results in the lowest diluted earnings per share amount for common stock. Total antidilutive

non-participating

common stock equivalents were 483 and 410, respectively, during the three and nine months ended September 30, 2022, and 48 and 130, respectively, during the comparable periods in 2021 (shares herein are reported in thousands).

Potential common shares associated with the conversion option embedded in the Convertible Notes were excluded from the computation for the three and nine months ended September 30, 2022 as the Company’s average stock price during those respective periods was lower than the conversion price. Potential common shares associated with the conversion option embedded in the Convertible Notes for the three and nine months ended September 30, 2021 were 1,042 and 1,140, respectively (shares herein are reported in thousands).

The following table reconciles weighted average diluted shares as reported in the Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and 2021, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings/(loss) per share as disclosed in the table above:


	Three Months Ended September 30,						Nine Months Ended September 30,
Reconciliation of Weighted Average Diluted Shares (in thousands)	2022			2021			2022			2021
Weighted average diluted shares as disclosed on the consolidated statements of operations		158,953			159,213			158,741			161,706
Less: Participating securities
Weighted average shares of common stock issuable upon conversion of the Preferred Shares (Note 11)		(14,750	)		(14,750	)		(14,750	)		(14,750	)
Potentially dilutive restricted stock awards		(796	)		(1,321	)		(746	)		(1,352	)

Weighted average diluted shares used to calculate diluted earnings/(loss) per share as disclosed in the table above		143,407			143,142			143,245			145,604