Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows for the three-month periods ended September 30, 2020 and 2019:


	Three Months Ended September 30,
(In Thousands, Except Share Data)	2020				2019
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(37,241)	$	(37,241)	$	(2,342)	$	(2,342)
Weighted-average common shares outstanding	25,031,234		25,031,234		25,176,334		25,176,334
Add dilutive effect of restricted stock unit awards	—		—		—		—
Add dilutive effect of stock options	—		—		—		—
Weighted-average common shares outstanding	25,031,234		25,031,234		25,176,334		25,176,334
Earnings (loss) per common share	$	(1.49)	$	(1.49)	$	(0.09)	$	(0.09)
Awards excluded from diluted earnings per share calculation(1)	—		820,124		—		63,897

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.

The components of basic and diluted earnings per share were as follows for the nine-month periods ended September 30, 2020 and 2019:


	Nine Months Ended September 30,
(In Thousands, Except Share Data)	2020				2019
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	(103,815)	$	(103,815)	$	37,983	$	37,983
Weighted-average common shares outstanding	25,023,401		25,023,401		25,172,716		25,172,716
Add dilutive effect of restricted stock unit awards	—		—		—		249,605
Add dilutive effect of stock options	—		—		—		221,423
Weighted-average common shares outstanding	25,023,401		25,023,401		25,172,716		25,643,744
Earnings (loss) per common share	$	(4.15)	$	(4.15)	$	1.51	$	1.48
Awards excluded from diluted earnings per share calculation(1)	—		515,984		—		63,897

(1)Outstanding awards that are not "in-the-money" are excluded from the diluted earnings per share calculation because the effect of including them would have been anti-dilutive.