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Net income (loss) per common share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net income (loss) per common share Net income (loss) per common share
Basic net income (loss) per common share is computed by first subtracting preferred stock dividends from net income (loss) to arrive at net income (loss) available to common stockholders, and then dividing net income (loss) available to common stockholders by the basic weighted-average common shares outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the diluted weighted average common shares outstanding for the period, which reflects the potential dilution of preferred stock and non-vested equity-based compensation awards. See Notes 8 and 9 in the 2023 Annual Report for additional discussion of the Company's preferred stock and equity-based compensation awards, respectively. For the six months ended June 30, 2024, the preferred stock and equity-based compensation awards were anti-dilutive due to the Company's net loss and, therefore, were excluded from the calculation of diluted net loss per common share.
The following table reflects the calculations of basic and diluted (i) weighted-average common shares outstanding and (ii) net income (loss) per common share for the periods presented:
Three months ended June 30,Six months ended June 30,
(in thousands, except for per share data)2024202320242023
Net income (loss)$36,702 $294,811 $(29,429)$408,751 
Less: Preferred Stock dividends(303)— (652)— 
Net income (loss) available to common stockholders$36,399 $294,811 $(30,081)$408,751 
Weighted-average common shares outstanding:
Basic36,381 18,031 35,973 17,236 
Dilutive non-vested restricted stock awards104 54 — 83 
Dilutive non-vested performance share awards(1)
12 — — — 
Dilutive preferred stock1,108 — — — 
Diluted37,605 18,085 35,973 17,319 
Net income (loss) per common share:
Basic$1.00 $16.35 $(0.84)$23.71 
Diluted$0.98 $16.30 $(0.84)$23.60 
Anti-dilutive weighted-average common shares outstanding(2):
Restricted stock awards157345268343
Performance share awards— 2510 25
Preferred stock— — 1,169— 
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(1)The dilutive effect of the non-vested performance shares for the three and six months ended June 30, 2023 and 2024 were calculated assuming each respective performance period ended on June 30, 2023 and 2024.
(2)Shares excluded from the diluted net income (loss) per common share calculation because their effect would be anti-dilutive.