Schedule of earnings per share, basic and diluted |
Under the two-class method, net income is reallocated to common stock, the Series A Preferred Stock, and all dilutive securities based on the contractual participating rights of the respective securities to share in the current earnings as if all of the earnings for the period had been distributed. | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | 2023 | | 2022 | | 2021 | Numerator: | | | | | | Net income (loss) | $ | 226,801 | | | $ | (187,282) | | | $ | 3,937 | | Convertible preferred stock dividends | (27,462) | | | (11,526) | | | — | | Allocation of earnings to participating securities | (17,348) | | | — | | | — | | Net income (loss) attributable to common stockholders | $ | 181,991 | | | $ | (198,808) | | | $ | 3,937 | | | | | | | | Effect of dilutive securities: | | | | | | Allocation of earnings to participating securities | $ | 17,348 | | | $ | — | | | $ | — | | Reallocation of earnings to participating securities | (16,934) | | | — | | | — | | Numerator for Diluted EPS - Income (loss) available to common stockholders after assumed conversions | $ | 182,405 | | | $ | (198,808) | | | $ | 3,937 | | | | | | | | Denominator: | | | | | | Weighted average basic common shares outstanding | 230,784 | | | 226,947 | | | 221,343 | | Dilutive effect of common shares | 6,180 | | | — | | | 11,724 | | Weighted average diluted common shares outstanding | 236,964 | | | 226,947 | | | 233,067 | | | | | | | | Earnings per share: | | | | | | Basic | $ | 0.79 | | | $ | (0.88) | | | $ | 0.02 | | Diluted | $ | 0.77 | | | $ | (0.88) | | | $ | 0.02 | |
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