We calculate basic earnings per common share using the two class method. We calculate diluted earnings per common share using the more dilutive of the two class method or the treasury stock method. Unvested share awards and other potentially dilutive common shares, together with the related impact on earnings, are considered when calculating diluted earnings per common share. The calculation of basic and diluted earnings per common share is as follows (amounts in thousands, except per share data):


	Three Months Ended March 31,
	2026		2025
Numerators:
Net loss	$	(93,021)	$	(45,867)
Income attributable to unvested participating securities	—		(6)
Net loss used in calculating earnings per common share	$	(93,021)	$	(45,873)

Denominators:
Weighted average common shares outstanding - basic and diluted	73,577		69,257



Net loss per common share - basic and diluted	$	(1.26)	$	(0.66)