EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of weighted average number of shares

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS:


	For the three months ended March 31,
	2023	2022
Weighted-average shares outstanding, basic	176,881,723	176,355,566
Assumed conversion of Convertible Notes	15,584,409	15,584,409
Assumed conversion of restricted stock	723,145	1,148,539
Assumed conversion of RSUs	424,262	401,816

Weighted-average shares outstanding, diluted	193,613,539	193,490,330

Potentially dilutive securities

The following table presents the calculation of basic and diluted EPS for the Company’s common stock:


	For the three months ended March 31,
(in thousands, except share and per share data)	2023		2022
Calculation of basic EPS:
Net income	$	37,447	$	85,551
Weighted-average shares outstanding, basic	176,881,723		176,355,566
Basic EPS	$	0.21	$	0.49

Calculation of diluted EPS:
Net income	$	37,447	$	85,551
Interest expense, net of tax(1):
Convertible Notes	1,086		988
Diluted income	$	38,533	$	86,539
Weighted-average shares outstanding, diluted	193,613,539		193,490,330
Diluted EPS	$	0.20	$	0.45

(1)The three months ended March 31, 2023 and 2022, were tax-effected at a rate of 17.3% and 24.5%, respectively.