Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2020

The computation of the Company's basic and diluted net (loss) income per share is as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Numerator for basic and diluted (loss) income per common share:
Net (loss) income	$	(103,994)	$	104,346	$	80,354
Less: Net income allocated to unvested participating restricted stock	(420)		(3,532)		(2,711)
Net (loss) income available to common stockholders - basic	(104,414)		100,814		77,643
Effect of unvested participating restricted stock	—		33		16
Numerator - (loss) income available to common shareholders - diluted	$	(104,414)	$	100,847	$	77,659
Denominator:
Weighted average outstanding shares of common stock - basic	16,230		16,934		17,533
Effect of dilutive securities:
Stock options	—		311		256
Weighted average outstanding shares of common stock - diluted	16,230		17,245		17,789
Net (loss) income per common share:
Basic	$	(6.43)	$	5.95	$	4.43
Diluted	$	(6.43)	$	5.85	$	4.37

For the year ended December 31, 2020, diluted loss per common share was computed using the basic weighted average number of shares outstanding during the period as the 100,056 shares from common stock equivalents would have been antidilutive.