Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Computations of Basic and Diluted Income (Loss) Per Common Share

Basic income or loss per share attributable to common shareholders is computed as (1) income or loss attributable to common shareholders (2) less income allocable to participating securities (3) divided by weighted average basic shares outstanding. Diluted income or loss per share attributable to common shareholders is computed as (1) basic income or loss attributable to common shareholders (2) plus diluted adjustments to income allocable to participating securities (3) divided by weighted average diluted shares outstanding. The following sets forth a reconciliation of income or loss attributable to common shareholders to basic income or loss attributable to common shareholders to diluted income or loss attributable to common shareholders (in thousands, except per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Net income (loss), as reported	$	30,231		$	452,855		$	511,678		$	(3,953	)
Participating earnings (a)		(679	)		(12,056	)		(11,636	)		—
Basic net income (loss) attributed to common    shareholders		29,552			440,799			500,042			(3,953	)
Reallocation of participating earnings (a)		2			244			112			—
Diluted net income (loss) attributed to common    shareholders	$	29,554		$	441,043		$	500,154		$	(3,953	)
Net income (loss) per common share:
Basic	$	0.12		$	1.81		$	2.10		$	(0.02	)
Diluted	$	0.12		$	1.77		$	2.07		$	(0.02	)

(a) Restricted Stock Awards represent participating securities because they participate in nonforfeitable dividends or distributions with common equity owners. Income allocable to participating securities represents the distributed and undistributed earnings attributable to the participating securities. Participating securities, however, do not participate in undistributed net losses.

Basic Weighted Average Common Shares Outstanding and Diluted Weighted Average Common Shares Outstanding

The following details weighted average common shares outstanding and diluted weighted average common shares outstanding (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Weighted average common shares outstanding – basic		238,970		243,492		238,497		244,416
Effect of dilutive securities:
Director and employee restricted stock and performance    based equity awards		2,135		5,158		2,572		—
Weighted average common shares outstanding – diluted		241,105		248,650		241,069		244,416