Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2020

EARNINGS (LOSS) PER COMMON SHARE

The following table presents the calculation of basic and diluted earnings (loss) per common share (“EPS”) for the Company’s common stock for the three and nine months ended September 30, 2020 and 2019, and reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS (amounts in thousands, except per share amounts):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss)	$	21,552	$	(10,054)	$	59,812	$	25,697
Less: Net income allocated to participating securities	(75)		(66)		(224)		(231)
Numerator for basic and diluted earnings (loss) available to common stockholders	$	21,477	$	(10,120)	$	59,588	$	25,466
Denominator:
Weighted-average basic common shares outstanding	95,214		95,103		95,195		92,409
Weighted-average diluted common shares outstanding	95,214		95,103		95,195		92,409

Earnings (loss) per common share, basic	$	0.23	$	(0.11)	$	0.63	$	0.28
Earnings (loss) per common share, diluted	$	0.23	$	(0.11)	$	0.63	$	0.28

The Company’s unvested restricted shares associated with its incentive award plan and unvested restricted shares issued to employees of Ensign at the Spin-Off have been excluded from the above calculation of earnings (loss) per diluted share for the three and nine months ended September 30, 2020 and 2019, when their inclusion would have been anti-dilutive.