Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2021

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,
	2021		2020		2021		2020
	(Dollars in thousands, except per share data)
Basic Earnings (Loss) Per Share:
Net earnings (loss)	$	180,512	$	33,204	$	330,918	$	(1,399,907)
Less: Earnings allocated to unvested restricted stock(1)	(3,172)		(362)		(5,495)		(1,251)
Net earnings (loss) allocated to common shares	$	177,340	$	32,842	$	325,423	$	(1,401,158)

Weighted-average basic shares and unvested restricted
stock outstanding	119,386		118,192		119,121		118,484
Less: Weighted-average unvested restricted stock
outstanding	(2,356)		(1,606)		(2,181)		(1,551)
Weighted-average basic shares outstanding	117,030		116,586		116,940		116,933

Basic earnings (loss) per share	$	1.52	$	0.28	$	2.78	$	(11.98)

Diluted Earnings (Loss) Per Share:
Net earnings (loss) allocated to common shares	$	177,340	$	32,842	$	325,423	$	(1,401,158)

Weighted-average diluted shares outstanding	117,030		116,586		116,940		116,933

Diluted earnings (loss) per share	$	1.52	$	0.28	$	2.78	$	(11.98)

________________________

(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.