Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

Earnings Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings per share includes the potential dilutive impact of non-vested restricted stock units and unexercised warrants outstanding during the periods presented, as calculated using the treasury stock method, unless their effect is anti-dilutive. For the year ended December 31, 2020, the Company reported a net loss. As a result, the calculation of diluted weighted average common shares outstanding excluded all potentially dilutive common shares outstanding.
The following table sets forth the computation of basic and diluted earnings per share:
Years Ended December 31,
2022 2021 2020
(In thousands, except per share amounts)
Net Income (Loss) $1,209,816  $365,151  ($2,533,621)
Basic weighted average common shares outstanding 61,620  48,612  39,718 
Dilutive impact of restricted stock units 284  296  — 
Dilutive impact of warrants —  1,403  — 
Diluted weighted average common shares outstanding 61,904  50,311  39,718 
Net Income (Loss) Per Common Share
Basic $19.63  $7.51  ($63.79)
Diluted $19.54  $7.26  ($63.79)
Restricted stock units (1)
30  581 
Warrants (1)
455  481  2,564 
(1) Shares excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.