Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Common Share

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, 2021 and 2020: 

	Three Months Ended				Six Months Ended
(in thousands, except per share data)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Net income (loss)	$	116,143	$	52,926	$	223,880	$	(1,799,021)
Weighted average number of common shares outstanding - basic	220,593		220,210		220,481		220,213
Effect of potentially dilutive common shares (1)	429		110		447		—
Weighted average number of common shares outstanding - diluted	221,022		220,320		220,928		220,213
Earnings (loss) per common share:
Basic	$	0.53	$	0.24	$	1.02	$	(8.17)
Diluted	$	0.53	$	0.24	$	1.01	$	(8.17)

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

The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three and six months ended June 30, 2021 and 2020:

	Three Months Ended		Six Months Ended
(in thousands)	June 30, 2021	June 30, 2020	June 30, 2021	June 30, 2020
Restricted stock awards	97	994	62	1,151