Annual report pursuant to Section 13 and 15(d)

Earnings/ (Loss) Per Share

v3.10.0.1
Earnings/ (Loss) Per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings/ (Loss) Per Share

14. Earnings (Loss) Per Share

The Company’s unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are deemed participating securities and are included in the computation of earnings per share under the two-class method when the effect is dilutive.

The following table presents the calculation of basic and diluted earnings (loss) per common share (in thousands, except per share amounts):

 

Year Ended December 31,

 

 

2018

 

 

2017

 

 

2016

 

Net income (loss)

$

248,827

 

 

$

79,682

 

 

$

(249,020

)

Less portion allocated to nonvested shares

 

9,727

 

 

 

3,244

 

 

 

—

 

Net income (loss) allocated to common shares

$

239,100

 

 

$

76,438

 

 

$

(249,020

)

Weighted average common shares outstanding

 

139,002

 

 

 

137,617

 

 

 

95,644

 

Basic and diluted earnings (loss) per common share

$

1.72

 

 

$

0.56

 

 

$

(2.60

)

Shares excluded due to being anti-dilutive (weighted-average)

 

—

 

 

 

—

 

 

 

5,269