Earnings Per Common Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share  

The following is a computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2020, 2019 and 2018:  

(in thousands, except per share data)	2020		2019		2018
Net (loss) income	$	(1,523,420)	$	354,095	$	316,263
Weighted average number of common shares outstanding - basic	220,218		220,339		220,280
Effect of potentially dilutive common shares (1)	—		311		457
Weighted average number of common shares outstanding - diluted	220,218		220,650		220,737
(Loss) earnings per common share:
Basic	$	(6.92)	$	1.61	$	1.44
Diluted	$	(6.92)	$	1.60	$	1.43

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

As of December 31, 2020 and 2019, respectively, there were 1.2 million and 244,000 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.