| Computation of Basic and Diluted Earnings Per Common Share |
The computation of basic and diluted earnings (loss) per common share is presented below for the periods indicated (in thousands, except share and per share data): | | | | | | | | | | Three Months Ended March 31, | c | 2020 |
| 2019 | Basic earnings per common share: | |
| | | Numerator: | |
| | | Net income (loss) | $ | (30,951 | ) | | $ | 65,972 |
| Distributed and undistributed earnings allocated to participating securities | — |
| | (2,697 | ) | Income (loss) allocated to common stockholders for basic earnings per common share | $ | (30,951 | ) | | $ | 63,275 |
| Denominator: | | | | Weighted average common shares outstanding | 93,944,529 |
| | 98,856,775 |
| Less average unvested stock awards | (1,101,370 | ) | | (1,171,921 | ) | Weighted average shares for basic earnings (loss) per common share | 92,843,159 |
| | 97,684,854 |
| Basic earnings (loss) per common share | $ | (0.33 | ) | | $ | 0.65 |
| Diluted earnings (loss) per common share: | | | | Numerator: | | | | Income (loss) allocated to common stockholders for basic earnings per common share | $ | (30,951 | ) | | $ | 63,275 |
| Adjustment for earnings reallocated from participating securities | — |
| | 5 |
| Income (loss) used in calculating diluted earnings per common share | $ | (30,951 | ) | | $ | 63,280 |
| Denominator: | | | | Weighted average shares for basic earnings (loss) per common share | 92,843,159 |
| | 97,684,854 |
| Dilutive effect of stock options and certain shared-based awards | — |
| | 279,779 |
| Weighted average shares for diluted earnings (loss) per common share | 92,843,159 |
| | 97,964,633 |
| Diluted earnings (loss) per common share | $ | (0.33 | ) | | $ | 0.65 |
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