EARNINGS PER SHARE

9 Months Ended

Jun. 30, 2021

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)	2021		2020		2021		2020
Net (loss) income, as reported	$	(111,831)	$	(19,298)	$	119,023	$	130,300
Basic (loss) earnings per share
Weighted average shares of common stock outstanding-basic	96,348		95,764		96,237		94,420
Basic (loss) earnings per common share	$(1.16)		$(0.20)		$1.24		$1.38
Diluted (loss) earnings per share
Weighted average shares of common stock outstanding-basic	96,348		95,764		96,237		94,420
Incremental shares (1)	—		—		392		298


Weighted average shares of common stock outstanding-diluted	96,348		95,764		96,629		94,718
Diluted earnings per common share (2)(3)	$(1.16)		$(0.20)		$1.23		$1.38

(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.

(3)Since there was a net loss for the three months ended June 30, 2021 and 2020, incremental shares of 406,278 and 310,000, respectively, were not included in the computation of diluted loss per common share, as their effect would have been antidilutive. There were no anti-dilutive shares excluded during the nine months ended June 30, 2021 and 2020.