Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings (loss) Per Common Share

Earnings (Loss) Per Common Share

Basic earnings (loss) per share (EPS) is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period.

Diluted EPS is computed based on the sum of the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of shares issuable from stock-based compensation awards and the Convertible Notes. Potentially dilutive common shares from outstanding stock-based compensation awards are determined using the average share price for each period under the treasury stock method. Potentially dilutive shares from the Convertible Notes are determined using the if-converted method, whereby the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to net income (loss).

The following presents a reconciliation of the numerators and denominators of the basic and diluted EPS computations (amounts in thousands, except per share data):

	Successor		Predecessor
	Three Months Ended September 30, 2020		Three Months Ended September 30, 2019
Numerator:
Net loss (numerator for basic EPS)	$	(20,070)	$	(26,016)
Interest expense on Convertible Notes, net of tax	—		—
Numerator for diluted EPS, if-converted method	(20,070)		(26,016)
Denominator:
Weighted-average shares (denominator for basic EPS)	1,119		78,473
Potentially dilutive shares issuable from Convertible Notes, if-converted method	—		—
Potentially dilutive shares issuable from outstanding stock-based compensation awards, treasury stock method	—		—
Denominator for diluted EPS	1,119		78,473
Loss per common share - Basic	$	(17.94)	$	(0.33)
Loss per common share - Diluted	$	(17.94)	$	(0.33)
Potentially dilutive securities excluded as anti-dilutive	9,733		5,577

	Successor		Predecessor
	Four Months Ended September 30, 2020		Five Months Ended May 31, 2020		Nine Months Ended September 30, 2019
Numerator:
Net loss (numerator for basic EPS)	$	(29,887)	$	(104,225)	$	(54,075)
Interest expense on Convertible Notes, net of tax	—		—		—
Numerator for diluted EPS, if-converted method	(29,887)		(104,225)		(54,075)
Denominator:
Weighted-average shares (denominator for basic EPS)	1,101		78,968		78,405
Potentially dilutive shares issuable from Convertible Notes, if-converted method	—		—		—
Potentially dilutive shares issuable from outstanding stock-based compensation awards, treasury stock method	—		—		—
Denominator for diluted EPS	1,101		78,968		78,405
Loss per common share - Basic	$	(27.15)	$	(1.32)	$	(0.69)
Loss per common share - Diluted	$	(27.15)	$	(1.32)	$	(0.69)
Potentially dilutive securities excluded as anti-dilutive	9,733		4,517		4,962