| Schedule of Earnings Per Share |
Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
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Successor |
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Predecessor |
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Three Months Ended June 30, 2022 |
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Period from May 18, 2021 through June 30, 2021 |
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Period from April 1, 2021 through May 17, 2021 |
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| Net income (loss) |
$ |
256,580 |
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$ |
(209,586) |
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$ |
242,214 |
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| Dividends on preferred stock |
(1,380) |
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(1,031) |
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— |
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Participating securities - preferred stock(1)
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(39,590) |
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— |
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— |
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| Net income (loss) attributable to common stockholders |
$ |
215,610 |
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$ |
(210,617) |
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$ |
242,214 |
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| Re-allocation of participating securities |
310 |
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— |
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— |
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| Diluted net income (loss) attributable to common stockholders |
$ |
215,920 |
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$ |
(210,617) |
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$ |
242,214 |
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| Basic Shares |
20,684 |
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20,321 |
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160,887 |
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| Dilutive Shares |
20,877 |
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20,321 |
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160,887 |
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| Basic EPS |
$ |
10.42 |
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$ |
(10.36) |
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$ |
1.51 |
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| Dilutive EPS |
$ |
10.34 |
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$ |
(10.36) |
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$ |
1.51 |
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_____________________
(1) Preferred stock represents participating securities because it participates in any dividends on shares of common stock on a pari passu, pro rata basis. However, preferred stock does not participate in undistributed net losses.
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Successor |
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Predecessor |
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Six Months Ended June 30, 2022 |
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Period from May 18, 2021 through June 30, 2021 |
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Period from January 1, 2021 through May 17, 2021 |
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| Net (loss) income |
$ |
(235,395) |
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$ |
(209,586) |
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$ |
250,994 |
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| Dividends on preferred stock |
(2,828) |
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(1,031) |
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— |
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| Net (loss) income attributable to common stockholders |
$ |
(238,223) |
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$ |
(210,617) |
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$ |
250,994 |
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| Basic Shares |
20,961 |
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20,321 |
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160,834 |
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| Basic and Dilutive EPS |
$ |
(11.36) |
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$ |
(10.36) |
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$ |
1.56 |
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