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NOTE 11 — EARNINGS PER SHARE
The following table presents the calculation of basic and diluted (loss) earnings per common share (in thousands, except per share amounts):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
|
2022 |
|
2021 |
Net income (loss) |
|
$ |
66,721 |
|
$ |
(37,964) |
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$ |
187,700 |
|
$ |
(90,382) |
Less portion allocated to nonvested shares |
|
|
1,265 |
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|
— |
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|
2,166 |
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|
— |
Net income (loss) allocated to common shares |
|
$ |
65,456 |
|
$ |
(37,964) |
|
$ |
185,534 |
|
$ |
(90,382) |
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Weighted average common shares outstanding - basic |
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|
143,116 |
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|
142,297 |
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|
143,026 |
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|
142,231 |
Dilutive effect of securities |
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|
2,766 |
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— |
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|
1,670 |
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— |
Weighted average common shares outstanding - diluted |
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|
145,882 |
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|
142,297 |
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|
144,696 |
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|
142,231 |
Earnings per common share: |
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Basic |
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$ |
0.46 |
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$ |
(0.27) |
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$ |
1.30 |
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$ |
(0.64) |
Diluted |
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|
0.46 |
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(0.27) |
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|
1.30 |
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(0.64) |
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Shares excluded due to being anti-dilutive (weighted average) |
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— |
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1,973 |
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— |
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|
1,266 |
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