Earnings Per Share

6 Months Ended

Jun. 30, 2023

The following table reconciles basic and diluted earnings per common share for the three and six months ended June 30, 2023 and 2022:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
	(In thousands, except per share amounts)
Basic:
Net income (loss)	$	27,187	$	66,440	$	(79,285)	$	87,894
Weighted-average number of common shares	354,577		353,457		354,748		352,837
Basic net income (loss) per common share	$	0.08	$	0.19	$	(0.22)	$	0.25

Diluted:
Net income (loss)	$	27,187	$	66,440	$	(79,285)	$	87,894
Weighted-average number of common shares	354,577		353,457		354,748		352,837
Dilutive share-based awards (a)	2,637		6,381		—		6,111
Weighted-average number of common and potential common shares	357,214		359,838		354,748		358,948
Diluted net income (loss) per common share	$	0.08	$	0.18	$	(0.22)	$	0.24

(a)For the three and six months ended June 30, 2023, share-based awards totaling 11.3 million and 15.4 million, respectively, were excluded from the calculation of diluted net income (loss) per common share because their effect would be antidilutive. For the three and six months ended June 30, 2022, share-based awards totaling 10.6 million and 10.1 million were excluded from the calculation of diluted net income (loss) per common share because their effect would be antidilutive.