Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2020

EARNINGS (LOSS) PER SHARE

The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
	(Dollars in thousands, except per share data)
Basic Earnings (Loss) Per Share:
Net earnings (loss)	$	33,204	$	128,125	$	(1,399,907)	$	240,729
Less: Earnings allocated to unvested restricted stock⁽¹⁾	(362)		(1,190)		(1,251)		(2,343)
Net earnings (loss) allocated to common shares	$	32,842	$	126,935	$	(1,401,158)	$	238,386

Weighted-average basic shares and unvested restricted
stock outstanding	118,192		120,042		118,484		121,128
Less: Weighted-average unvested restricted stock
outstanding	(1,606)		(1,462)		(1,551)		(1,407)
Weighted-average basic shares outstanding	116,586		118,580		116,933		119,721

Basic earnings (loss) per share	$	0.28	$	1.07	$	(11.98)	$	1.99

Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common shares	$	32,842	$	126,935	$	(1,401,158)	$	238,386

Weighted-average diluted shares outstanding	116,586		118,580		116,933		119,721

Diluted earnings (loss) per share	$	0.28	$	1.07	$	(11.98)	$	1.99

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(1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.