EARNINGS (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

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 earnings (loss) per share:

	For the three months ended March 31,
	2024	2023
Weighted-average shares outstanding, basic	174,556,850	176,881,723
Assumed conversion of 2026 Notes	12,234,976	15,584,409
Assumed conversion of restricted stock	—	723,145
Assumed conversion of RSUs	—	424,262
Weighted-average shares outstanding, diluted	186,791,826	193,613,539

Schedule of potentially dilutive securities

The following table presents unweighted potentially dilutive shares that were not included in the computation of diluted earnings (loss) per share because to do so would have been antidilutive:

	For the three months ended March 31,
	2024	2023
2030 Notes	34,380,440	—
Restricted Stock	342,601	—
RSUs	1,889,538	4,245
Total	36,612,579	4,245

Schedule of basic and diluted earnings per share

The following table presents the calculation of basic and diluted earnings (loss) per share for the Company’s common stock:

	For the three months ended March 31,
(in thousands, except share and per share data)	2024		2023
Calculation of basic EPS:
Net income	$	16,489	$	37,447
Weighted-average shares outstanding, basic	174,556,850		176,881,723
Basic EPS	$	0.09	$	0.21
Calculation of diluted earnings (loss) per share:
Net income	$	16,489	$	37,447
Interest expense, net of tax(1):
2026 Notes	740		1,086
Gain on early extinguishment of debt(1)(2)	(32,279)		—
Diluted income (loss)	$	(15,050)	$	38,533
Weighted-average shares outstanding, diluted	186,791,826		193,613,539
Diluted earnings (loss) per share	$	(0.08)	$	0.20

(1)The three months ended March 31, 2024 and 2023, were tax-effected at a rate of 30.2% and 17.3%, respectively.

(2)Pertains to the 2026 Notes, a portion of which were repurchased during the three months ended March 31, 2024.