Earnings Per Share

The Company calculates basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding unvested restricted shares. The Company calculates diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of all outstanding share-based awards, including stock options and restricted stock awards. Warrants generally are included in basic and diluted shares outstanding because there is little or no consideration paid upon exercise of the Warrants. Antidilutive instruments are not considered in this calculation. The Company applies the two-class method to calculate earnings per share. Because both classes share the same rights in dividends and earnings, earnings per share (basic and diluted) are the same for both classes.

The following table presents the basic and diluted earnings per share, and the reconciliation of basic to diluted weighted average common shares (in thousands, except per share amounts):



	Successor Company				Predecessor Company
	Three Months Ended June 30, 2019		Period from June 4, 2018 through June 30, 2018		Period from April 1, 2018 through June 3, 2018
Basic Earnings Per Share
Numerator:
Undistributed net income from operations	$	42,861	$	4,980	$	701,157
Basic net income attributable to common shares	$	42,861	$	4,980	$	701,157
Denominator:
Basic weighted average shares outstanding	20,125		20,005		29,338
Basic undistributed net income per share attributable to common shares	$	2.13	$	0.25	$	23.90

Diluted Earnings Per Share
Numerator:
Undistributed net income from operations	$	42,861	$	4,980	$	701,157
Diluted net income attributable to common shares	$	42,861	$	4,980	$	701,157
Denominator:
Basic weighted average shares outstanding	20,125		20,005		29,338
Effect of dilutive options and restricted share units	192		295		—
Diluted weighted average shares outstanding	20,317		20,300		29,338
Diluted undistributed net income per share attributable to common shares	$	2.11	$	0.25	$	23.90



	Successor Company				Predecessor Company
	Six Months Ended June 30, 2019		Period from June 4, 2018 through June 30, 2018		Period from January 1, 2018 through June 3, 2018
Basic Earnings Per Share
Numerator:
Undistributed net income from operations	$	43,312	$	4,980	$	696,156
Basic net income attributable to common shares	$	43,312	$	4,980	$	696,156
Denominator:
Basic weighted average shares outstanding	20,092		20,005		29,338
Basic undistributed net income per share attributable to common shares	$	2.16	$	0.25	$	23.73

Diluted Earnings Per Share
Numerator:
Undistributed net income from operations	$	43,312	$	4,980	$	696,156
Diluted net income attributable to common shares	$	43,312	$	4,980	$	696,156
Denominator:
Basic weighted average shares outstanding	20,092		20,005		29,338
Effect of dilutive options and restricted share units	177		295		—
Diluted weighted average shares outstanding	20,269		20,300		29,338
Diluted undistributed net income per share attributable to common shares	$	2.14	$	0.25	$	23.73