Net income (loss) per common share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Net income (loss) per common share

Net income (loss) per common share

Basic and diluted net income (loss) per common share are computed by dividing net income (loss) by the weighted-average common shares outstanding for the period. Diluted net income (loss) per common share reflects the potential dilution of non-vested equity-based compensation awards. See Note 9 in the 2022 Annual Report for additional discussion of these awards. For the three months ended March 31, 2022, all of these awards were anti-dilutive due to the Company's net loss and, therefore, were excluded from the calculation of diluted net loss per common share.

The following table reflects the calculations of basic and diluted (i) weighted-average common shares outstanding and (ii) net income (loss) per common share for the periods presented:

	Three months ended March 31,
(in thousands, except for per share data)	2023		2022
Net income (loss)	$	113,940	$	(86,781)
Weighted-average common shares outstanding:
Basic	16,431		16,767
Dilutive non-vested restricted stock awards	114		—
Diluted	16,545		16,767
Net income (loss) per common share:
Basic	$	6.93	$	(5.18)
Diluted	$	6.89	$	(5.18)