Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2020 and 2019: 

	Three Months Ended				Nine Months Ended
(in thousands, except per share data)	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Net income (loss)	$	124,871	$	84,502	$	(1,674,150)	$	270,345
Weighted average number of common shares outstanding - basic	220,221		220,285		220,216		220,379
Effect of potentially dilutive common shares (1)	197		298		—		263
Weighted average number of common shares outstanding - diluted	220,418		220,583		220,216		220,642
EARNINGS (LOSS) PER COMMON SHARE:
Basic	$	0.57	$	0.38	$	(7.60)	$	1.23
Diluted	$	0.57	$	0.38	$	(7.60)	$	1.23

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