Earnings Per Share

6 Months Ended

Jun. 30, 2023

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income (loss)	$	64,808	$	(5,024)	$	90,940	$	(30,961)
Preferred dividends and accretion	12,784		12,182		25,268		23,788
Net income (loss) to common shareholders	$	52,024	$	(17,206)	$	65,672	$	(54,749)
Basic:
Weighted average shares	150,919		150,203		150,763		149,246
Income (loss) per share	$	0.34	$	(0.11)	$	0.44	$	(0.37)
Diluted:
Effect of restricted stock and performance awards	1,210		—		1,207		—
Weighted average shares	152,129		150,203		151,970		149,246
Income (loss) per share	$	0.34	$	(0.11)	$	0.43	$	(0.37)

Potentially dilutive common shares issuable pursuant to equity-based awards of 2,413 were not included for the six months ended June 30, 2022, as their potential effect was anti-dilutive given the Company generated a net loss to common shareholders.

There were no potentially dilutive common shares issuable pursuant to the Convertible Notes for both the six months ended June 30, 2023 and 2022, as the average market price of the Company’s common stock has not exceeded the exercise price since their issuance.