18. Earnings Per Share

The following tables set forth reconciliations of the basic and diluted earnings per share computations for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
Basic Earnings per Share	2026		2025		2026		2025
Net income	$	44,284	$	24,777	$	21,153	$	49,406
Less: Undistributed income allocable to participating securities		—		—		—		(24	)
Net income available to common stockholders—Basic EPS	$	44,284	$	24,777	$	21,153	$	49,382
Weighted average common shares (in thousands)		149,001		143,076		143,533		142,830
Basic earnings per share	$	0.30	$	0.17	$	0.15	$	0.35

	Three Months Ended June 30,				Six Months Ended June 30,
Diluted Earnings per Share	2026		2025		2026		2025
Net income available to common stockholders	$	44,284	$	24,777	$	21,153	$	49,382
Add back: Undistributed income allocable to participating securities		—		—		—		24
Less: Reallocation of undistributed income allocable to participating securities considered potentially dilutive		—		—		—		(23	)
Net income available to common stockholders—Diluted EPS	$	44,284	$	24,777	$	21,153	$	49,383
Weighted Average Diluted Shares (in thousands):
Weighted average common shares		149,001		143,076		143,533		142,830
Dilutive effect of common stock equivalents, excluding participating securities		7,275		3,564		10,853		3,601
Weighted average diluted shares, excluding participating securities (in thousands)		156,276		146,640		154,386		146,431
Diluted earnings per share	$	0.28	$	0.17	$	0.14	$	0.34

Diluted earnings per share presented above is calculated using the two-class method as this method results in the lowest diluted earnings per share amount for common stock. Total antidilutive non-participating common stock equivalents were 78 and 40, respectively, for the three and six months ended June 30, 2026 and 190 and 160, respectively, for the comparable periods in 2025 (shares herein are reported in thousands).

There were 3,581 and 7,133 potential common shares associated with the conversion options embedded in the Convertible Notes included in weighted average diluted shares for the three and six months ended June 30, 2026, respectively. There were no potential common shares associated with the conversion options embedded in the Convertible Notes included in weighted average diluted shares for the three and six months ended June 30, 2025 as the Company’s average stock price was lower than the conversion price.

The following table reconciles weighted average diluted shares as reported on the Company’s Consolidated Statements of Operations for the three months and six months ended June 30, 2026 and 2025, which are determined pursuant to the treasury stock method, to the weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above:

	Three Months Ended June 30,				Six Months Ended June 30,
Reconciliation of Weighted Average Diluted Shares (in thousands)	2026		2025		2026		2025

Weighted average diluted shares as disclosed on the Consolidated Statements of Operations		156,276		146,640		154,386		146,513
Less: Participating securities
Potentially dilutive restricted stock awards		—		—		—		(82	)
Weighted average diluted shares used to calculate diluted earnings per share as disclosed in the table above		156,276		146,640		154,386		146,431