| Schedule of Earnings Income (Loss) Per Share |
Reconciliations of the components of basic and diluted net income (loss) per common share are presented in the tables below (in thousands):
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Three Months Ended September 30, 2026 |
|
Three Months Ended September 30, 2025 |
| Net income |
$ |
96,400 |
|
|
$ |
111,393 |
|
| Dividends on preferred stock |
— |
|
|
— |
|
Deemed dividend on preferred stock(1)
|
— |
|
|
(29,986) |
|
| Net income attributable to common stockholders |
$ |
96,400 |
|
|
$ |
81,407 |
|
| Re-allocation of participating securities |
— |
|
|
— |
|
| Diluted net income attributable to common stockholders |
$ |
96,400 |
|
|
$ |
81,407 |
|
| Basic Shares |
17,630 |
|
|
18,114 |
|
| Dilutive Shares |
17,685 |
|
|
18,290 |
|
| Basic EPS |
$ |
5.47 |
|
|
$ |
4.49 |
|
| Dilutive EPS |
$ |
5.45 |
|
|
$ |
4.45 |
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_____________________
(1) Reflects the difference between the carrying value of the preferred stock and the cash settlement, including $1.1 million in direct transaction-related costs.
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Nine Months Ended September 30, 2026 |
|
Nine Months Ended September 30, 2025 |
| Net income |
$ |
349,324 |
|
|
$ |
295,395 |
|
| Dividends on preferred stock |
— |
|
|
(1,666) |
|
Deemed dividend on preferred stock(1)
|
— |
|
|
(29,986) |
|
| Net income attributable to common stockholders |
$ |
349,324 |
|
|
$ |
263,743 |
|
| Re-allocation of participating securities |
— |
|
|
— |
|
| Diluted net income attributable to common stockholders |
$ |
349,324 |
|
|
$ |
263,743 |
|
| Basic Shares |
18,023 |
|
|
17,901 |
|
| Dilutive Shares |
18,105 |
|
|
18,102 |
|
| Basic EPS |
$ |
19.38 |
|
|
$ |
14.73 |
|
| Dilutive EPS |
$ |
19.29 |
|
|
$ |
14.57 |
|
_____________________
(1) Reflects the difference between the carrying value of the preferred stock and the cash settlement, including $1.1 million in direct transaction-related costs.
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table presents the weighted average shares of share-based awards that were outstanding but were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive (in thousands):
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Three Months Ended September 30, 2026 |
|
Three Months Ended September 30, 2025 |
| Restricted stock units |
74 |
|
|
— |
|
| Performance stock units |
22 |
|
|
— |
|
| Total anti-dilutive shares excluded |
96 |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2026 |
|
Nine Months Ended September 30, 2025 |
| Restricted stock units |
52 |
|
|
— |
|
| Performance stock units |
16 |
|
|
— |
|
| Total anti-dilutive shares excluded |
68 |
|
|
— |
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