Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER SHARE (Tables)

v3.22.4
EARNINGS (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of earnings (loss) per share
Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
Successor Predecessor
Year Ended December 31, 2022 Period from May 18, 2021 through December 31, 2021 Period from January 1, 2021 through May 17, 2021 Year Ended December 31, 2020
Net income (loss) $ 494,701  $ (112,829) $ 250,994  $ (1,625,133)
Dividends on Preferred Stock (5,444) (4,573) —  — 
Participating securities - Preferred Stock(1)
(76,401) —  —  — 
Net income (loss) attributable to common stockholders $ 412,856  $ (117,402) $ 250,994  $ (1,625,133)
Re-allocation of participating securities 512  —  —  — 
Diluted net income (loss) attributable to common stockholders $ 413,368  $ (117,402) $ 250,994  $ (1,625,133)
Basic Shares 20,185  20,545  160,834  160,231 
Dilutive Shares 20,347  20,545  160,834  160,231 
Basic EPS $ 20.45  $ (5.71) $ 1.56  $ (10.14)
Dilutive EPS $ 20.32  $ (5.71) $ 1.56  $ (10.14)
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(1)    Preferred Stock represents participating securities because they participate 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.