Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.22.2
EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
Successor Predecessor
Three Months Ended June 30, 2022 Period from May 18, 2021 through June 30, 2021 Period from April 1, 2021 through May 17, 2021
Net income (loss) $ 256,580  $ (209,586) $ 242,214 
Dividends on preferred stock (1,380) (1,031) — 
Participating securities - preferred stock(1)
(39,590) —  — 
Net income (loss) attributable to common stockholders $ 215,610  $ (210,617) $ 242,214 
Re-allocation of participating securities 310  —  — 
Diluted net income (loss) attributable to common stockholders $ 215,920  $ (210,617) $ 242,214 
Basic Shares 20,684  20,321  160,887 
Dilutive Shares 20,877  20,321  160,887 
Basic EPS $ 10.42  $ (10.36) $ 1.51 
Dilutive EPS $ 10.34  $ (10.36) $ 1.51 
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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.
Successor Predecessor
Six Months Ended June 30, 2022 Period from May 18, 2021 through June 30, 2021 Period from January 1, 2021 through May 17, 2021
Net (loss) income $ (235,395) $ (209,586) $ 250,994 
Dividends on preferred stock (2,828) (1,031) — 
Net (loss) income attributable to common stockholders $ (238,223) $ (210,617) $ 250,994 
Basic Shares 20,961  20,321  160,834 
Basic and Dilutive EPS $ (11.36) $ (10.36) $ 1.56