The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts).


	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2026			2025			2026			2025
Numerators – Basic and Diluted
Net (loss) income	$	(1,304	)	$	46,504		$	(366	)	$	49,589
Earnings attributable to unvested shares		(217	)		(386	)		(217	)		(386	)
Net (loss) income after allocation to participating securities	$	(1,521	)	$	46,118		$	(583	)	$	49,203
Denominators – Number of Shares
Basic and Diluted—Average shares outstanding		52,475			52,445			52,471			52,440
Earnings Per Share:
Basic	$	(0.03	)	$	0.88		$	(0.01	)	$	0.94
Diluted	$	(0.03	)	$	0.88		$	(0.01	)	$	0.94

Basic average shares outstanding do not include Restricted Stock units (“RSUs”) representing 0.2 million and 0.3 million common shares that were not vested at June 30, 2026 and 2025, respectively. Dividend equivalents are paid on the outstanding RSUs, which makes these shares participating securities.

The Company declared a special cash dividend of $1.00 per common share for the three and six months ended June 30, 2026 which was paid in July 2026. The Company declared a special cash dividend of $1.50 per common share for the three and six months ended June 30, 2025 which was paid in July 2025.