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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 11—Earnings Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted net (loss) income per common share for the three months ended March 31, 2020 and 2019.

 

 

Three Months Ended March 31,

 

(In thousands, except share and per share data)

 

2020

 

 

2019

 

Net (loss) income per consolidated statements of operations

 

$

(399,311

)

 

$

58,201

 

Net income allocated to participating securities

 

 

—

 

 

 

(173

)

Net (loss) income allocated to common stock

 

$

(399,311

)

 

$

58,028

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding (Basic)

 

 

126,630,446

 

 

 

130,485,521

 

Weighted average dilutive restricted stock units and warrants

 

 

—

 

 

 

63,798

 

Weighted average common shares outstanding (Diluted)

 

 

126,630,446

 

 

 

130,549,319

 

 

 

 

 

 

 

 

 

 

(Loss) earnings per common share (Basic)

 

$

(3.15

)

 

$

0.44

 

(Loss) earnings per common share (Diluted)

 

$

(3.15

)

 

$

0.44

 

The effect from the assumed exercise of 2,512,524 and 1,848,496 stock options and restricted stock units for the three months ended March 31, 2020 and 2019, respectively, were not included in the above computations of diluted earnings per share because such amounts would have had an antidilutive effect on earnings per common share.