Year Ended December 31,

2023

2022

(Dollars in thousands, except per share amounts)

Basic Earnings Per Share:

Net (loss) income

$

(92,852

)

$

37,034

Less: Redeemable preferred stock dividends and accretion

(38,969

)

(36,453

)

Less: European non-controlling redeemable equity dividend

(35

)

(53

)

Basic numerator

$

(131,856

)

$

528

Basic (loss) earnings per share

$

(4.73

)

$

0.02

Weighted average shares outstanding – Basic

27,882

26,839

Diluted Earnings Per Share:

Net (loss) income

$

(92,852

)

$

37,034

Less: Redeemable preferred stock dividends and accretion

(38,969

)

(36,453

)

Less: European non-controlling redeemable equity dividend

(35

)

(53

)

Diluted numerator

$

(131,856

)

$

528

Diluted (loss) earnings per share

$

(4.73

)

$

0.02

Weighted average shares outstanding – Basic

27,882

26,839

Dilutive effect of common share equivalents

—

751

Weighted average shares outstanding – Diluted

27,882

27,590