Earnings Per Share

12 Months Ended

Dec. 31, 2023

The following table details the computation of the Company’s Basic and Diluted EPS of common stock and Series A Preferred Stock:


Year Ended December 31,	2023		2022			2021
	Common Stock			Common Stock			Common Stock		Preferred Stock (1)
Basic EPS:


Net income attributable to stockholders	$	38,939		$	289,685		$	18,456	$	124
Weighted-average common shares – Basic	108,466,179			103,547,305			97,486,754		653,118
Basic EPS	$	0.36		$	2.80		$	0.19	$	0.19

Diluted EPS:


Net income attributable to stockholders	$	38,939		$	289,685		$	18,580	$	—
Weighted-average common shares – Diluted	108,468,857			104,001,288			102,147,353		—
Diluted EPS	$	0.36		$	2.79		$	0.18	$	0.00

(1) Presented on an as-converted basis.

In March 2020, the Company issued 195,628 shares of mandatorily convertible, non-voting, Series A Preferred Stock, par value of $0.01 per share. The Series A Preferred Stock was considered a separate class of common shares for purposes of calculating EPS because it participated in earnings similar to common stock and did not receive any significant preferences over common stock. As a result of the preferred stock outstanding during the first quarter of 2021, Basic and Diluted EPS were computed using the two-class method, which is a net income allocation that determines EPS for each class of common stock according to dividends declared and participation rights in undistributed income (loss). The remaining preferred stock was sold during the first quarter of 2021 and, therefore, there were no shares of preferred stock outstanding as of March 31, 2021.