Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings 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.