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EARNINGS/(LOSS) PER SHARE
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS/(LOSS) PER SHARE EARNINGS/(LOSS) PER SHARE
Earnings/(loss) per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method):
 Three Months Ended June 30,Six Months Ended June 30,
(In thousands, except per share data)2021202020212020
Income/(loss) from continuing operations$21,636 $(543,045)$34,667 $(555,117)
(Loss) from discontinued operations— (6,336)— (14,134)
Net income/(loss)$21,636 $(549,381)$34,667 $(569,251)
Average number of common shares issued51,903 51,903 51,903 51,903 
Less: average number of treasury shares822 1,718 885 1,731 
Less: average number of unvested stock award shares760 461 691 472 
Plus: average participating preferred shares— 522 — 528 
Average number of basic shares outstanding50,321 50,246 50,327 50,228 
Plus: dilutive effect of unvested stock award shares280 — 257 — 
Plus: dilutive effect of stock options outstanding— — 
Average number of diluted shares outstanding50,608 50,246 50,588 50,228 
Basic earnings/(loss) per common share:  
Continuing operations$0.43 $(10.80)$0.69 $(11.05)
Discontinued operations— (0.13)— (0.28)
Total$0.43 $(10.93)$0.69 $(11.33)
Diluted earnings/(loss) per common share:
Continuing operations$0.43 $(10.80)$0.69 $(11.05)
Discontinued operations— (0.13)— (0.28)
Total$0.43 $(10.93)$0.69 $(11.33)
For the three months ended June 30, 2021, 480 thousand shares of unvested restricted stock and 96 thousand options outstanding were anti-dilutive and therefore excluded from the earnings per share calculation. For the six months ended June 30, 2021, 434 thousand shares of unvested restricted stock and 94 thousand options outstanding were anti-dilutive and therefore excluded from the earnings per share calculation. For the three and six months ended June 30, 2020, all unvested restricted stock and options outstanding were considered anti-dilutive and therefore excluded from the earnings per share calculation.