Earnings Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share Reconciliation [Abstract]

The components of basic and diluted earnings per share from continuing operations are as follows (in thousands, except share and per share data):


	Year ended December 31,
	2022		2021		2020
Numerator for basic and diluted net income per common share:
Net income from continuing operations	$	65,466	$	401,395	$	28,660
Net income available to participating securities (1)	(20)		(326)		(120)
1.75% Convertible Notes interest expense (after-tax) (2)	—		—		—
Net income available to the Company’s common shareholders from continuing operations	$	65,446	$	401,069	$	28,540
Denominator:
Basic weighted-average outstanding shares of common stock	46,954,558		45,893,928		46,308,825
Effect of dilution:
Equity incentive plans	71,291		311,585		7,537
Convertible debt (2)	—		1,657,232		799,247
Diluted weighted-average outstanding shares of common stock	47,025,849		47,862,745		47,115,609

Net income per share from continuing operations:
Basic	$	1.39	$	8.74	$	0.62
Diluted	$	1.39	$	8.38	$	0.61

Weighted-average shares excluded from diluted weighted-average shares outstanding:
Anti-dilutive stock options and restricted stock	—		—		—
Anti-dilutive convertible debt	5,158,071		—		—

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

(2)Under the modified retrospective method of adoption of ASU 2020-06, the dilutive impact of convertible debt was calculated using the if-converted method for the year ended December 31, 2022. The dilutive impact of convertible debt was calculated using the treasury stock method for the years ended December 31, 2021 and 2020 (see Note 10 - Debt).