Basic earnings per share (“EPS”) is computed based on the weighted average number of common shares outstanding for the period, excluding any dilutive common share equivalents. Diluted EPS reflects the potential dilution resulting from exercises of stock options, vesting of performance share units, vesting of restricted stock, vesting of restricted stock units, and conversion of preferred stock. In loss periods, stock options, vesting of performance share units, vesting of restricted stock, vesting of restricted stock units, and conversion of preferred stock are excluded from the calculation of diluted loss per share, as the inclusion of stock options, vesting of performance share units, vesting of restricted stock, vesting of restricted stock units, and conversion of preferred stock would have an anti-dilutive effect. There is no difference between basic and diluted income or loss per share.

The following table reconciles the numerator (i.e., income) and denominator (i.e., shares) of the basic and diluted EPS computations for the periods presented (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator for EPS:
Net income (loss)	$	(72,275)	$	20,183	$	(47,368)	$	68,532
Less: Preferred stock dividends	(3)		(3)		(8)		(8)
Income (loss) available to common stockholders	$	(72,278)	$	20,180	$	(47,376)	$	68,524
Denominator for EPS:
Weighted average common shares outstanding	30,604		31,247		30,858		31,232
Plus: Assumed conversion of share-based compensation (1)	—		65		—		45
Assumed conversion of preferred stock	—		25		—		25
Weighted average diluted common shares outstanding	30,604		31,337		30,858		31,302
Basic earnings (loss) per common share	$	(2.36)	$	0.65	$	(1.54)	$	2.19
Diluted earnings (loss) per common share	$	(2.36)	$	0.64	$	(1.54)	$	2.19