Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31, 2021 and 2020:


	Three Months Ended March 31,
(In Thousands, Except Share Data)	2021				2020
	Basic		Diluted		Basic		Diluted
Net income (loss)	$	18,702	$	18,702	$	(72,534)	$	(72,534)
Weighted-average common shares outstanding	25,085,914		25,085,914		25,014,027		25,014,027
Add dilutive effect of restricted stock unit awards	—		229,930		—		—
Add dilutive effect of stock options	—		63,968		—		—
Weighted-average common shares outstanding	25,085,914		25,379,812		25,014,027		25,014,027
Earnings (loss) per common share	$	0.75	$	0.74	$	(2.90)	$	(2.90)
Awards excluded from diluted earnings per share calculation(1)	—		515,984		—		379,282

(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.