Annual report [Section 13 and 15(d), not S-K Item 405]

EARNINGS (LOSS) PER SHARE (Tables)

v3.25.0.1
EARNINGS (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings (Loss) Per Share
Reconciliations of the components of basic and diluted net (loss) income per common share are presented in the table below (in thousands):
Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2022
Net (loss) income $ (261,386) $ 1,470,916  $ 494,701 
Dividends on preferred stock (4,230) (4,840) (5,444)
Participating securities - preferred stock(1)
—  (212,360) (76,401)
Net (loss) income attributable to common stockholders $ (265,616) $ 1,253,716  $ 412,856 
Re-allocation of participating securities —  2,475  512 
Diluted net (loss) income attributable to common stockholders $ (265,616) $ 1,256,191  $ 413,368 
Basic Shares 18,050  18,645  20,185 
Dilutive Shares 18,050  18,902  20,347 
Basic EPS $ (14.72) $ 67.24  $ 20.45 
Dilutive EPS $ (14.72) $ 66.46  $ 20.32 
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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.