Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings (Loss) Per Common Share

The following is a computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended						Six Months Ended
(in thousands, except per share data)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Net income (loss)	$	52,926	$	111,810	$	(1,799,021)	$	185,843

Weighted average number of common shares outstanding - basic	220,210		220,487		220,213		220,427
Effect of potentially dilutive common shares ⁽¹⁾	110		232		—		265
Weighted average number of common shares outstanding - diluted	220,320		220,719		220,213		220,692
EARNINGS (LOSS) PER COMMON SHARE:
Basic	$	0.24	$	0.51	$	(8.17)	$	0.84
Diluted	$	0.24	$	0.51	$	(8.17)	$	0.84

⁽¹⁾Represents the effect of the assumed exercise of stock options, vesting of non-participating restricted shares, and vesting of restricted stock units, based on the treasury stock method.

There were 994,000 and 1.2 million weighted average outstanding restricted shares that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive for the three and six months ended June 30, 2020, respectively.