NET INCOME (LOSS) PER SHARE OF COMMON STOCK

12 Months Ended

Dec. 31, 2022

NET INCOME (LOSS) PER SHARE OF COMMON STOCK

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of common shares outstanding during the period combined with the incremental average common shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. The calculation of basic and diluted net income (loss) attributable to common stockholders per share is determined using net income (loss) applicable to common stockholders as the numerator and the number of shares included in the denominator as shown below (in thousands, except per share amounts).


	Year Ended December 31,
	2022		2021		2020
Basic net income (loss) attributable to common stockholders per share:
Net income (loss) attributable to common stockholders	$	112,258	$	1,164	$	(97,412)
Weighted average common shares outstanding	48,626		50,684		52,945
Basic net income (loss) attributable to common stockholders per share	$	2.31	$	0.02	$	(1.84)

Diluted net income (loss) attributable to common stockholders per share:
Net income (loss) attributable to common stockholders	$	112,258	$	1,164	$	(97,412)

Weighted average common shares outstanding	48,626		50,684		52,945

Dilutive stock options and restricted stock	1,255		924		—
Diluted weighted average common shares outstanding	49,881		51,608		52,945
Diluted net income (loss) attributable to common stockholders per share	$	2.25	$	0.02	$	(1.84)

For the years ended December 31, 2022 and 2021, there were no options excluded from average diluted shares outstanding as the average market price of the common shares was greater than the exercise price. As noted above, due to the net loss applicable to common stockholders for the year ended December 31, 2020, no securities had a dilutive impact.