EARNINGS PER SHARE

9 Months Ended

Jun. 30, 2020

8. EARNINGS PER SHARE

The following table presents the calculation of the Company's basic and diluted earnings per share for:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
(Thousands, except per share amounts)	2020			2019			2020		2019
Net income, as reported	$	(27,219	)	$	(8,402	)	$	150,647	$	151,419
Basic earnings per share
Weighted average shares of common stock outstanding-basic	95,764			89,600			94,420		88,995
Basic earnings per common share	$(0.28)			$(0.09)			$1.60		$1.70
Diluted earnings per share
Weighted average shares of common stock outstanding-basic	95,764			89,600			94,420		88,995
Incremental shares ⁽¹⁾	—			—			298		407
Weighted average shares of common stock outstanding-diluted	95,764			89,600			94,718		89,402
Diluted earnings per common share ⁽²⁾	$(0.28)			$(0.09)			$1.59		$1.69


(1)	Consist primarily of unvested stock awards and performance shares.

(2)

There were anti-dilutive shares of 251,780 and 95,817 excluded from the calculation of diluted earnings per share related to the equity forward sale agreement during the three and nine months ended June 30, 2020, respectively. Since there was a net loss for the three months ended June 30, 2020 and 2019, incremental shares of 310,000 and 409,000, respectively, were not included in the computation of diluted loss per common share, as their effect would have been anti-dilutive. There were no anti-dilutive shares excluded from the calculation of diluted earnings per share during the nine months ended June 30, 2019.